Tag: lawsuit

February 20, 2024

The US bank first acquired a 48.5% stake in Viva Wallet in December 2022 in an effort to tap the European payments market, with WeRealize, led by Viva Wallet founder Haris Karonis, retaining the remaining share. However, reports have suggested […]

September 21, 2023

The Bank of Utah is being sued for its alleged knowledge in a $29 million Ponzi scheme conducted by a local investment adviser, Salt Lake City CBS-affiliate KUTV reported Wednesday. Clients of Steve Swensen, a registered investment adviser who died […]

September 19, 2023

Morgan Stanley was hit with a $750 million lawsuit Monday by private-equity firms alleging fraud related to their investment in Brightline Holdings, a high-speed rail company. The lawsuit, filed in Manhattan by affiliates of Certares Management and Knighthead Capital Management, […]

August 22, 2023

Wells Fargo beat shareholders’ lawsuit accusing it of conducting fake interviews of nonwhite and female candidates, Reuters reported Monday. In a ruling Friday, Judge Trina Thompson, of the U.S. District Court for the Northern District of California, said shareholders could […]

February 7, 2023

Signature Bank was accused in a lawsuit by an investment firm of facilitating the FTX collapse by allowing the now-defunct crypto exchange to commingle customer accounts with its blockchain network. Signature did this even though it had observed suspicious FTX […]

January 12, 2023

According to the lawsuit, filed in December last year in the US District Court in Delaware, Javice allegedly claimed Frank – a student loan application fintech – had more than 4.25 million student users but had used “synthetic data” techniques […]

March 21, 2022

Last week’s letter to Wells Fargo CEO Charlie Scharf from Sens. Elizabeth Warren, D-MA, and Ron Wyden, D-OR, comes in addition to a Thursday letter from 11 senators asking the leaders of the Consumer Financial Protection Bureau (CFPB) and the […]

December 9, 2021

One of the largest U.S. health insurance companies and its branches in Nevada were found liable for $60 million in punitive damages for underpaying out-of-network emergency medical providers. A state court jury said three plaintiffs headed by urgent care staffing […]

May 17, 2021

U.S. banks with more than $1 billion in assets took in a combined $11.68 billion in overdraft fees in 2019, the Center for Responsible Lending (CRL) found in June 2020. Bank of America’s five-year moratorium of retry fees is expected […]

November 11, 2019

The patents, which focused on making cheque deposits made with mobile devices simpler, were the subject of a 2018 patent infringement lawsuit filed by USAA targeting Wells Fargo’s mobile deposit solution. The process allows bank customers to use their mobile […]

June 10, 2019

Wells Fargo has agreed to pay at least $385 million to settle a California lawsuit alleging it signed up thousands of auto loan customers for costly car insurance without their consent, resulting in many having their vehicles repossessed. The bank […]

December 14, 2017

The Navajo Nation announced that it’s suing Wells Fargo for allegedly engaging in predatory and unlawful banking practices that targeted and harmed tribal members. In a statement, Navajo Nation President Russell Begaye said the tribe’s lawyer has been directed to […]

August 1, 2017

Less than a month after Wells Fargo & Co. (WFC)  CEO Timothy Sloan settled one class-action lawsuit accusing the bank of exploiting its customers, the company is grappling with another. This time, however, it’s over unnecessary insurance policies tacked on to auto […]

March 30, 2017

Wells Fargo will pay $110 million to settle a class action lawsuit brought by US consumers over a scandal about fake accounts its employees set up for customers without their knowledge, writes Paybefore (Banking Technology‘s sister publication). But the trouble […]

March 24, 2016

A U.S. lawmaker is seeking answers from the Federal Reserve Bank of New York over the theft by cyber criminals of $81 million from the Bangladesh central bank’s account at the New York Fed. Rep. Carolyn Maloney of New York, […]