Goldman Sachs Under Fire From Schwab, TD Ameritrade
TD Ameritrade and Charles Schwab sued Goldman Sachs on Thursday to prevent the investment giant from severing a 17-year old securities investment agreement.
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Spain Rejects Extraditing HSBC Whistleblower to Switzerland
A Spanish court on Tuesday rejected a request to extradite a former HSBC employee to serve a five-year prison sentence in Switzerland, where he was convicted for leaking a massive trove of bank data that led to tax evasion probes worldwide.
Read moreCitigroup Whacked
Citigroup Global Markets will pay $12 million in fines and disgorgement for misleading users of a dark pool run by its affiliate, Citi Order Routing and Execution, which will be fined another $1 million, the SEC said Friday.
Read moreWells Fargo Deal OK’d
A federal judge gave preliminary approval Tuesday to a $480 million settlement between Wells Fargo and shareholders peeved over the bank’s recent scandal involving phony accounts.
Read moreDutch Bank Pays Huge Fine in Money-Laundering Case
Dutch bank ING has paid 775 million euros ($897 million) to settle a huge money laundering case in the Netherlands, prosecutors said Tuesday.
Read more12 Years
Lamont Tarkington claims in a federal complaint that he was wrongly imprisoned for 12 years after Los Angeles County sheriff’s officers fabricated evidence to convict him of a bank robbery he did not do.
Read moreCitigroup Fined $10 Million
Citigroup and Citigroup Global Markets reached a $10.5 million settlement with the SEC on Thursday regarding allegations about the bank’s failing to supervise traders, poor accounting controls, and books and records violations.
Read moreMueller Team Rests in Manafort Fraud Trial
Prosecutors wrapped up their case against former Trump campaign chairman Paul Manafort on Monday afternoon, as the judge told jurors they cannot find Manafort guilty for omissions made by his company because the indictment only names him individually.
Read moreBanker With Immunity Takes Stand Against Manafort
The first federal trial of former Trump campaign chief Paul Manafort heads into Day 10 of witness testimony on Monday. Though originally expected to last three weeks, closing arguments are said to be imminent.
Read more$4 Billion Verdict Against Bank Cut to $7 Million
A Texas probate judge reduced a widow’s $4 billion verdict against JPMorgan Chase to only $7 million, 10 months after a jury found that the bank mishandled the estate of a former American Airlines executive.
Read moreWells Fargo to Pay $2.09 Billion for Selling Faulty Mortgages
Wells Fargo Bank, N.A. will pay $2.09 billion under the Financial Institutions Reform, Recovery, and Enforcement Act to settle claims it knowingly originated and sold residential mortgages it knew contained misstated income information, the Justice Department said Wednesday.
Read moreCitibank Class Action
A federal class action accuses Citibank of failing to pay home loan borrowers in California at least 2 percent interest on funds held in escrow for taxes and insurance.
Read moreTroubled Deutsche Bank Accelerates Restructuring
Germany’s struggling Deutsche Bank said Wednesday that its net profit fell less than expected in the second quarter as it was making quicker progress in cutting costs and reshaping its business model after three straight years of losses.
Read moreDeutsche Bank to Pay Nearly $75 Million to Settle Securities Case
Deutsche Bank AG will pay Nearly $75 million to settle charges of improperly handling so-called “pre-released” American Depositary Receipts, the Securities and Exchange Commission announced Friday.
Read moreSenate Confirms Justice Official Who Worked for Russian Bank
The Senate has confirmed President Donald Trump’s pick to lead the Justice Department’s criminal division.
Read moreCredit Suisse to Pay $77 Million to Settle Bribery Case
Credit Suisse Group AG has agreed to pay $77 million to settle charges it obtained investment banking business in the Asia-Pacific region by corruptly influencing foreign officials, the Securities and Exchange Commission said Thursday.
Read moreSudan Asset Attachment Heads to High Court
The U.S. Supreme Court took up a case Monday where two New York banks were ordered to satisfy a $314 million judgment against Sudan.
Read moreWells Fargo Can’t Duck Federal Class Action Suit
A federal judge indicated Monday that he will allow nationwide litigation to go forward accusing Wells Fargo Bank of forcing unneeded auto insurance on borrowers.
Read moreCity’s Lawsuit Accusing Wells Fargo of Racist Lending Advances
A lawsuit accusing Wells Fargo of violating the Fair Housing Act by offering predatory loans to minority homebuyers will advance, a federal judge ruled Friday.
Read moreCitibank to Pay $100 Million in Multistate Settlement
Citibank will pay $100 million in a multistate action to settle claims it manipulated a key interest rate during the global financial crisis that resulted in massive losses to investors, California Attorney General Xavier Becerra announced Friday.
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