Tag: Banking
Swiss Bank Julius Baer Agrees to Pay $79M Settlement for Role In FIFA Corruption Scandal
News“A Swiss bank implicated in FIFA corruption investigations said Monday it has agreed to a settlement in principle with the US Department of Justice and set aside $79.7 million to pay expected fines.
Coral Gables Attorney Accused of Multiple Bank Robberies
NewsA South Florida lawyer has been arrested for his involvement in at least five robberies or attempted robberies of local banks, FBI officials said Wednesday.
Attorney Prominent in the Crowdfunding Sector is Target of SEC Enforcement Action
NewsThe Securities and Exchange Commission (SEC) issued a litigation release today alleging charges of microcap fraud that involved an attorney prominent in the US crowdfunding sector.
DOJ Reached $46M Settlement with 5Dimes for Illegal Sports Betting
News5Dimes and the U.S. Department of Justice reached a $46.8 million settlement of an investigation into illegal US sports betting operations, as well as money laundering and wire fraud.
JPMorgan to Pay a Record $1B to Settle Market-Manipulation Charges
NewsJPMorgan is set to pay nearly $1 billion to settle with US authorities investigating whether the bank manipulated the metals and Treasury markets.
UBS Agrees To Pay $10M To Settle Bonds Sale Violation Charges With SEC
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A unit of UBS Group AG is paying $10 million to settle charges with the United States Securities and Exchange Commission that it broke rules concerning giving priority to small investors in the purchase of municipal bonds.
Deutsche Bank Agrees to $150 Million Settlement for Jeffrey Epstein Lapses
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Deutsche Bank AG agreed Tuesday to pay a $150 million penalty to settle “significant compliance failures” in its dealings with convicted sex offender and financier Jeffrey Epstein.
Tezos Likely Avoiding SEC Action With $25M Class-Action Lawsuit Settlement
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The Tezos class-action lawsuit from law firm Block & Leviton will likely conclude in a $25-million settlement on August 27.
Wirecard’s Former CEO Arrested in the Case of the Missing Billions
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Wirecard AG’s former chief executive officer was detained by Munich prosecutors after 1.9 billion euros ($2.1 billion) went missing from the digital-payment company, in a scandal that has rattled Germany’s financial industry.
Lloyds Bank Fined $81 Million for Overcharging Mortgage Customers
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Britain’s biggest domestic bank Lloyds has been fined 64 million pounds ($81.2 million) by the Financial Conduct Authority for mistreating hundreds of thousands of mortgage customers in financial difficulties.
Goldman Sachs Is Said to Try to Avoid Pleading Guilty in 1MDB Scandal
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Lawyers for the bank have asked Deputy Attorney General Jeffrey Rosen to review demands by some federal prosecutors that Goldman pay more than $2 billion in fines and plead guilty to a felony charge.
J.P. Morgan Chase Agrees to $9 Million Settlement in 401(K) Suit
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J.P. Morgan Chase agreed to pay $9 million to settle allegations by current and former participants in the company’s 401(k) plan that fiduciaries violated their ERISA duties by retaining expensive investment options and failing to look for cheaper and better-performing replacements.
Santander Consumer Reaches $550M Settlement With State AGs
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Santander Consumer USA will pay $65 million to states and forgive hundreds of millions more in consumer debt as part of a settlement with a group of attorneys general over practices in its subprime auto lending business.
Big Banks Accused of Favoring More Lucrative Small Business Loans in Coronavirus Program
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Four of America’s biggest banks have been accused of harming thousands of coronavirus-hit small businesses by unfairly prioritizing emergency loan requests from large customers to earn fatter fees.
Equifax To Pay Mass. $18.2 Million In Settlement, AG Healey Announces
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Equifax will pay Massachusetts $18.2 million and change its security practices as part of a settlement between the credit reporting agency and the state stemming from a major 2017 data breach, Attorney General Maura Healey announced Friday.
Wells Fargo’s Top Lawyer Turned CEO Made $9.6 Million in 2019
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Former Wells Fargo & Co. general counsel C. Allen Parker Jr. took home outsized pay of more than $9.6 million last year thanks to his elevation to interim CEO.
Former U.S. Congressman Sentenced to 26 Months for Insider Trading
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As a board member of a biotech company, Chris Collins gave insider information on the company to his son.
Model Data Access Agreement to Foster Fintech Growth
Insight
The model agreement is intended to provide a standardized foundation that speeds up data access agreement negotiations.
Ex-Big Law Partner Found Guilty in Cryptocurrency Fraud Trial
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The former Locke Lord partner was one of the defendants in a lawsuit targeting individuals involved in the fraudulent cryptocurrency scheme OneCoin.
Changes to Preference Practices Under New Bankruptcy Law
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President Trump signed into law the “Small Business Reorganization Act of 2019.”
