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Fired N.Y. Banker's Suit, And Suits, Raise Eyebrows

NEW YORK - (AP) It went viral as the ultimate example of being punished for circumstances beyond one's control: a woman who said she was fired from her banking job because she complained that her male colleagues called her bodacious figure a workplace distraction. Then after the tabloid headlines...

N.Y. Trustee Seeks $1 Billion From 7 International Banks

NEW YORK - (AP) Seven global banking institutions enabled disgraced financier Bernard Madoff's Ponzi scheme by "creating and offering derivative investment products linked to various Madoff feeder funds," a court-appointed trustee alleged Wednesday. Trustee Irving Picard announced a lawsuit...

Bank Of America To Pay $410M In Overdraft Fee Case

(AP) Bank of America has agreed to pay $410 million to settle a federal lawsuit alleging the bank charged excessive overdraft fees. The suit is one of several filed against several banks from plaintiffs in 14 states, which were consolidated in a federal court in Florida. Other banks named. . . . Full...

Lehman Brothers Trustee Sues Citibank For $1.3 Billion

NEW YORK - (AP) The trustee overseeing the bankruptcy of Lehman Brothers' brokerage unit is suing Citibank for more than $1.3 billion. Trustee James Giddens said in a lawsuit filed Friday in Manhattan that he seeks to recover a $1 billion deposit for foreign exchange settlement services and more...

Citigroup Inc. To Pay $158 Million To Settle Mortgage Lending Lawsuit

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 when approving residential mortgage loans (...

Citibank Settles Home Equity Credit Lines Class Action

SAN FRANCISCO - (Mealey's) Citibank NA on Aug. 31 settled a class action suit alleging that it wrongfully suspended or decreased the value of home equity lines of credit (HELOC), according to a document filed by the plaintiffs in a California federal court ( In re: Citibank HELOC Reduction Litigation...