Federal judge blocks litigation endangering settlement for Bernie Madoff victims
A federal judge blocked litigation on Wednesday dealing with Bernie Madoff's former Ponzi scheme customers. US District Judge Gregory Woods prevented A&G Goldman Partnership and Pamela Goldman from pursuing a lawsuit aimed...
Western Union pays $586 million and admits to knowing about fraudulent actions
Western Union Co. on Thursday agreed to pay $586 million after admitting to turning a blind eye to criminals who used their service for fraud and money laundering. The US Department of Justice (DOJ) [official...
The US Commodity Futures Trading Commission (CFTC) on Thursday ordered Citigroup Global Markets Inc. (Citigroup) to pay over 25 million dollars for engaging in deceitful business trading practices. The CFTC found that Cigroup would...
JPMorgan agrees to settlement on mortgage discrimination complaint
JPMorgan Chase & Co agreed Wednesday to pay $55 million to settle a lawsuit by the US Department of Justice (DOJ) . The lawsuit accuses JPMorgan of discriminating against minority borrowers by allowing...
US appeals court revives FDIC suit against banks over mortgage-backed securities sales
The 2nd U.S. Circuit Court of Appeals in New York on Wednesday revived a lawsuit that stems from the 2008 financial crisis. The Federal Deposit Insurance Corp (FDIC) brought suit in 2012 against five...
The US Supreme Court on Tuesday rejected an appeal by several large banks asking to dismiss lawsuits brought by private investor groups accusing them of conspiring to manipulate the Libor benchmark interest rate. The...
The US Supreme Court published an order on Thursday stating that it would no longer hear the appeal in two antitrust suits against Visa, Mastercard and several banks concerning ATM fees. The suit alleges that the...
Hedge fund firm Och-Ziff to pay $412 million in criminal penalty and damages
Hedge fund manager Och-Ziff Capital Management Group LLC (Och-Ziff) has agreed to pay a $412 million settlement, of which up to $213 million are criminal penalties imposed in connection with a widespread scheme involving the...
Royal Bank of Scotland agrees to pay $1.1 billion to resolve US mortgage claims
The US National Credit Union Administration (NCUA) said Wednesday that the Royal Bank of Scotland Group (RBS) will pay $1.1 billion after it allegedly solid toxic mortgaged-backed securities. The RBS is currently preparing [Reuters...
Consumer protection agency fines Wells Fargo US $100 million
The Consumer Financial Protection Bureau (CFPB) , a federal agency entrusted with consumer protection in the financial sector, announced on Thursday a $100 million fine against banking giant Wells Fargo for widespread illegal sales practices....
