The Electronic Funds Transfer Act, 15 U.S.C. § 1693 et seq. (EFTA), and its regulations promulgated by the Federal Deposit Insurance Corporation (FDIC), Reg E, 12 C.F.R. sect; 205.16, require, in relevant part, that banks charging a fee to non-bank... Read More

According to Popular, Inc.'s January 27, 2011 press release ( here ), the Puerto Rican bank holding company has reached an agreement in principle to settle the subprime related securities lawsuit pending against the company, as well as in the related... Read More

In a settlement that apparently will be funded entirely by D&O insurance, the plaintiffs and 23 former executives of the failed Colonial Bank of Montgomery, Alabama have agreed to settle the class action securities lawsuit that investors filed in... Read More

WASHINGTON, D.C.- (Mealey's) The U.S. Supreme Court on March 18 heard oral arguments in a case involving a bank's claim that a debtor who had acted as trustee for his father's insurance trust acted recklessly and was guilty of defalcation... Read More

NEW YORK - (Mealey's) Citigroup Inc. on Feb. 15 agreed to pay $158.3 million to resolve a lawsuit brought by the federal government accusing the bank of failing to comply with Housing and Urban Development and Federal Housing Administration regulations... Read More

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on April 23 heard oral arguments in a dispute between a Chapter 11 debtor company and a creditor bank as to whether a secured creditor is permitted to credit-bid while the debtor company's collateral... Read More

RICHMOND, Va. - (AP) The Virginia state attorney general's office Friday said it is looking into a whistleblower lawsuit that accuses Bank or New York Mellon of overcharging the state's pension funds by using "false exchange rates."... Read More

SEATTLE - (AP) A group of Washington Mutual creditors have signed on to a settlement that pushes the bank's reorganization plan a step closer to approval. Washington Mutual Bank bondholders agreed to a $335 million settlement, according to an amended... Read More

LOS ANGELES - (AP) A Saudi Arabian company is suing the former chief executive of a collapsed Mideast bank for $9.2 billion, alleging he helped stage one of the largest global fraud schemes in history. The lawsuit filed in Los Angeles federal court Monday... Read More