Litigation

The lawsuit alleges mismanagement and fiduciary breaches caused SVB's 2023 collapse, costing the Deposit Insurance Fund $23 billion.

The Biden administration is asking the Supreme Court to overturn a lower court injunction against the Corporate Transparency Act, which requires businesses to disclose their beneficial owners. The outcome has significant implications for banks' AML compliance burdens.

The Supreme Court heard oral arguments in Thompson v. United States, which could decide whether the federal government can prosecute "misleading" in addition to "false" statements to the Federal Deposit Insurance Corp.

Debt collection trade group ACA International and Specialized Collections Systems, a Houston-based debt collector, filed a lawsuit against the Consumer Financial Protection Bureau alleging its medical debt rule is outside its authority.

Two trade groups filed a lawsuit against the Consumer Financial Protection Bureau claiming it exceeded its authority and ignored the legislative history on medical debts.

An appeals court ruled that online lender CashCall had waived its right to a jury trial and that its other challenges "lack merit," in a lawsuit filed by the Consumer Financial Protection Bureau in 2013.

After the U.S. government alleged that the cash-advance app doesn't make the cost of "tipping" clear to customers, the Los Angeles-based company said it would implement a new business model in early 2025.

The Consumer Financial Protection Bureau has sued some of the largest U.S. corporations and banks before the changeover to the Trump administration later this month.

The Consumer Financial Protection Bureau sued three of the largest U.S. banks for fraud perpetrated on the bank-owned payment network Zelle, alleging shoddy safeguards and millions in consumer losses.

The Federal Deposit Insurance Corp.'s decision to weigh civil lawsuits against Silicon Valley Bank executives to recover losses to its Deposit Insurance Fund isn't rare in itself, but the bipartisan nature of the move and size of the failed institution suggest a current that isn't changing with the presidential administration.