Payday lenders can move forward with their suit against federal regulators challenging the controversial Operation Choke Point, a Washington, D.C., federal court judge has ruled....more
Weighing in on the bank fraud statute, the U.S. Supreme Court sided with the government to hold that the bank had a property interest in the customer's deposits, and the law does not require proof that the bank suffered...more
Bringing banks into the battle over payday lending, the Consumer Financial Protection Bureau (CFPB) released a report finding that online payday loans "add a steep, hidden cost" to consumers by racking up bank fees....more
The Federal Deposit Insurance Corporation (FDIC) reached a $16 million deal with a Utah bank recently, settling charges that the financial institution engaged in unfair and deceptive acts and practices. ...more
The New York Attorney General has charged a regional bank with engaging in illegal discrimination by intentionally ignoring predominantly African-American neighborhoods in Buffalo. ...more
Depending on whom you ask, Operation Choke Point has a promising future ahead of it – or will soon be history.
The controversial initiative by the Department of Justice (DOJ) is intended to limit certain lenders and...more
Out-of-state bank fees are permitted under federal law, the Eleventh U.S. Circuit Court of Appeals recently concluded.
A pair of Florida customers – Derek Pereira and Camila De Freitas – presented checks at a Florida...more
Light ’em Up: FinCEN’s Cautionary Guidance About Banks Working With Marijuana Companies -
The Financial Crimes Enforcement Network’s new guidance on how to work with marijuana-related businesses is unlikely to make it...more
Bit by Bit(coin), Virtual Currency Inches Toward Regulation -
Has the time come to regulate virtual currency? At a recent hearing held by the New York Department of Financial Services, the answer appeared to be “yes.”...more
Swipe Fee Settlement Yields More Litigation -
Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more
2/11/2014
/ American Express ,
Antitrust Litigation ,
Banks ,
Class Action ,
Deposit Advances ,
FDIC ,
Fees ,
MasterCard ,
Prepaid Payment Products ,
Toys R Us ,
Visa Inc ,
Visas
Swipe Fee Settlement Yields More Litigation -
Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more
1/31/2014
/ Antitrust Litigation ,
Banks ,
Business Judgment Rule ,
Class Action ,
Deposit Advances ,
Directors ,
FDIC ,
Fees ,
MasterCard ,
Merchant Fees ,
Payday Loans ,
Settlement ,
Visa Inc