Banking Law

1236 ABA Journal Banking Law articles.

Michael Cohen pleads guilty to campaign finance violations, tax and bank fraud
Updated: Michael Cohen, the former personal lawyer and so-called fixer for President Donald Trump, pleaded guilty to eight counts of campaign finance violations and bank and tax fraud after surrendering to the FBI on Tuesday.
Michael Cohen reportedly being investigated over more than $20M in loans to his taxi business

Federal prosecutors in Manhattan are considering filing criminal charges by the end of August against Michael Cohen, the former personal lawyer to President Donald Trump.

Investigators are reportedly examining whether…

Jurors in Paul Manafort trial ask for new definition of reasonable doubt

Judge T.S. Ellis III told jurors that reasonable doubt is a doubt based on reason, and the government is not required to prove guilt beyond “all possible doubt.”

Amended suit by NRA says New York crackdown has led to financial hardship
The National Rifle Association has filed an amended lawsuit against New York Gov. Andrew Cuomo that contends the state has caused financial hardship by discouraging banks and insurers from doing business with the organization.
Supreme Court: AmEx ban on merchant incentives for competitor cards doesn’t violate antitrust law
A provision in American Express contracts that banned merchants from steering customers to competitor credit cards with lower merchant fees did not violate antitrust law, the U.S. Supreme Court has decided.
White House says Trump will sign bill rolling back Dodd-Frank banking regulations
Thirty-three Democrats joined all but one Republican in the House on Tuesday to pass a bill rolling back banking regulations passed in 2010 to prevent bank practices that could lead to their collapse.
Cohen seeks to ban Stormy Daniels’ lawyer from court appearance; were bank records illegally leaked?
The lawyer for Stormy Daniels, Michael Avenatti, should not be given permission to appear pro hac vice in court proceedings involving Michael Cohen because of Avenatti’s public release of banking records, Cohen’s lawyers argued in a letter submitted to a Manhattan federal judge on Wednesday.
Wells Fargo to pay $1B penalty for consumer law violations

Wells Fargo has agreed to pay a $1 billion penalty for alleged violations of the Consumer Financial Protection Act.

The Consumer Financial Protection Bureau and the Office of the Comptroller…

Foreclosure law firm is accused of overbilling Fannie Mae through affiliates’ ‘exponential markups’

A foreclosure law firm in New York is accused in a federal lawsuit of overbilling Fannie Mae by inflating costs for mortgage-related services offered by its wholly owned affiliates.


Whistleblower’s $33M award sets an SEC record
Three whistleblowers will receive $83 million for their whistleblowing that led to a Securities and Exchange Commission investigation and a $415 million settlement.
Nearly 300 former students at shuttered law school are eligible for discharge of student loans

Nearly a dozen additional students who were enrolled at the now-shuttered Charlotte School of Law will be eligible for discharge of their federal student loans as a result of an…

Former Trump campaign aide Rick Gates pleads guilty in special counsel probe
Updated: Rick Gates, a former campaign aide to Donald Trump, pleaded guilty on Friday to charges related to Ukrainian work he did with former Trump campaign chairman Paul Manafort.

Gates will cooperate in the probe by special counsel Robert Mueller as a result of a plea deal, the Washington Post reports.
Special counsel files new charging document in Manafort case; bail filing alleges bank fraud

Special counsel Robert Mueller has filed a new, sealed charging document in the money laundering case against former Trump campaign chairman Paul Manafort and his onetime business associate Rick…

Trump’s interim CFPB chief shifts enforcement power in lending bias cases

President Donald Trump’s interim director of the Consumer Financial Protection Bureau has shifted enforcement power away from the office that had pursued cases alleging interest rate discrimination.

The Office of…

$20M windfall for UC law schools in wrongful foreclosure suit shrinks to $150K

A federal judge has vacated a punitive damages award against Bank of America that gave $20 million to the University of California’s five law schools in a wrongful foreclosure case.

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