The Federal Deposit Insurance Corporation (FDIC) board of directors reportedly votedunanimously to authorize potential legal action against six former officers and 11 former directors of Silicon Valley Bank (SVB). This authorization was approved by both Democrats and Republicans on the board, Reuters reported Tuesday (Dec....
Albertsons has sued fellow grocery giant Kroger over the failure of their $24.6 billion merger. The company said Wednesday (Dec. 11) that it has filed a lawsuit in the Delaware Court of Chancery, accusing Kroger of breach of contract. The suit came one day after...
The Federal Trade Commission (FTC) is sending over $540,000 in refunds to consumers harmed by a debt collection scheme. The refunds follow the FTC’s filing of lawsuits in September 2020 and reaching settlements in March 2021 and December 2021 with National Landmark Logistics and Absolute Financial Services, the regulator...
A lawsuit in the United Kingdom alleges that the country’s Financial Conduct Authority (FCA) unfairly “shut out” some small businesses when compensating customers who were mis-sold interest rate hedges between 2001 and 2011. The lawsuit centers on an agreement formed by the FCA’s predecessor, the...
December 02, 2024
The eventual resolution of the key question in the wake of the Synapse bankruptcy — namely, where the money went — will take time. And those seeking answers are turning yet again to the courts. To that end, the class action suit against Synapse’s four partner banks — a quartet that includes Evolve Bank & […]
November 06, 2024
If the past few months have shown us anything it’s that the frictions between the regulators and the regulated — in this case, FinTechs — frequently are being played out...
September 18, 2024
The continued fallout from the collapse of Synapse Financial Technologies has heightened the discussion — and regulatory examination — of how end-user and various types of accounts are handled as...
August 09, 2024
One of the longest running legal cases impacting crypto’s regulatory future is potentially nearing resolution. The case, between cryptocurrency company Ripple Labs and the U.S. Securities and Exchange Commission (SEC), centers around whether...
December 20, 2024
The Consumer Financial Protection Bureau sued Zelle operator Early Warning Services and three of its owner banks — Bank of America, J.P. Morgan Chase and Wells Fargo — alleging that they failed to protect consumers from “widespread fraud” on the peer-to-peer payment network. The agency’s complaint alleged that the defendants violated consumer financial protection laws […]
December 18, 2024
The Federal Deposit Insurance Corporation (FDIC) board of directors reportedly votedunanimously to authorize potential legal action against six former officers and 11 former directors of Silicon Valley Bank (SVB). This...
December 11, 2024
Albertsons has sued fellow grocery giant Kroger over the failure of their $24.6 billion merger. The company said Wednesday (Dec. 11) that it has filed a lawsuit in the Delaware...
December 10, 2024
The Federal Trade Commission (FTC) is sending over $540,000 in refunds to consumers harmed by a debt collection scheme. The refunds follow the FTC’s filing of lawsuits in September 2020 and...
