A British judge on Thursday refused to give Venezuela control of more than $1 billion in gold sitting in a Bank of England vault, ruling that it is unlawful to give it to the President Nicolás Maduro since Britain does not recognize him as the president.
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The political battle over control of Venezuela has turned to a $1.8 billion stack of gold bars sitting in the Bank of England’s vault in London, where a judge is expected to decide soon on who has the rightful claim to the bullion.
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As President Donald Trump’s efforts to interfere with the remarkable money-laundering case come under scrutiny, Turkey’s state-run Halkbank asked a federal judge Tuesday to postpone trial for more than a year.
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The Federal Reserve announced several restrictions for banks going forward, as stress tests show they are adequately capitalized to handle a rocky economic recovery.
Read moreA federal class action claims that JPMorgan Chase Bank assigns Latino loan officers to branches whose clients lack the income and credit scores needed to qualify for loans but holds them to the same standards as employees at more affluent branches.
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The Supreme Court closed the book Monday on a suit claiming that managers of U.S. Bank’s retirement plan made investment decisions that broke federal law.
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The Justice Department unsealed an indictment Thursday charging 28 North Koreans with conspiring to funnel at least $2.5 billion to the country’s nuclear weapons and missile program.
Read moreA federal class action accuses Pacific Premier Bancorp of refusing to pay a 1% fee, required by the CARES Act, to agents who secured loans under the paycheck protection program.
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An attorney for a Georgia man sentenced to 32 years in federal prison for two armed bank robberies asked an 11th Circuit panel Tuesday to grant him a new trial based on an FBI forensic examiner’s incorrect testimony explaining DNA evidence.
Read moreMorgan Stanley Smith Barney will pay $5 million to settle charges that it provided misleading information to clients in its retail wrap fee programs regarding trade execution services and transaction costs, the SEC said Tuesday.
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Companies that wrongfully took loans intended for small businesses ravaged by Covid-19 shutdowns have an extra week to return them, but banks likely are off the hook for any penalties.
Read moreA action accuses Fifth Third Bank of encouraging its employees to trick customers into opening additional accounts and credit cards without informing them of it, in Cook County Court.
Read moreLOS ANGELES — A federal class action accuses Wells Fargo Bank of fraudulently processing Paycheck Protection Program applications by putting large loans first, to make more money, rather than first-come first-served, as required; similar class action were filed against JPMorgan Chase, Bank of America, and U.S. Bank.
Read moreWest Coast Life Insurance Co. sued Wells Fargo Bank in federal court, claiming that a $1.5 million insurance policy on a woman “was likely meant as an illegal wager on the life of (the policyholder).”
Read moreThe new unemployment figures are higher than expected but still down from last week, suggesting the worst is over. BOSTON
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Investors ditched stocks on Wednesday after leading financial institutions announced they were bracing for a coming recession.
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New earnings reports showing banks hunkering down in preparation for a recession due to the Covid-19 pandemic sent markets plummeting on Wednesday.
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Federal courts across the country are being forced to step in as small businesses hit roadblocks applying for billions of dollars in coronavirus relief funds.
Read moreTwo federal class actions claim Wells Fargo Bank is violating terms of the $349 billion coronavirus bailout for small businesses by refusing to accept loan applications from companies unless they had a Wells Fargo business checking account as of Feb. 15.
Read moreA federal judge in Alabama granted summary judgment to Regions Bank in an age-discrimination claim, as the former employee did not deny that he was fired “because he was insubordinate; he stalked and threatened multiple co-workers; and he had the ability to bring down the bank.”
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