ABA Journal

Banking Law

1260 ABA Journal Banking Law articles.

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.

Mueller reportedly subpoenaed Deutsche Bank for information on its business dealings with Trump

Updated: Special counsel Robert Mueller reportedly subpoenaed Deutsche Bank for information on accounts related to its business with President Donald Trump and his family.

The subpoena was issued several weeks…

Lawyer and the payday lender he advised are convicted

A corporate and banking lawyer has been convicted of racketeering conspiracy along with the payday lender he advised on how to avoid state caps on loan interest rates.

Federal jurors…

Congress overturns consumer bureau rule limiting mandatory arbitration in bank contracts

Vice President Mike Pence cast a tie-breaker vote in the Senate on Tuesday to overturn a rule to limit mandatory arbitration clauses in contracts between consumers and financial institutions.

Federal judge refuses to toss shareholder suit against Wells Fargo executives

A federal judge in San Francisco has refused to toss a shareholder lawsuit against executives and directors of Wells Fargo over sales pressures that led employees to open millions of…

800,000 student loans to be audited under proposed settlement; lender would pay at least $19M

The largest holder of private student loans has agreed to an audit of all of its 800,000 loans in a proposed settlement with the Consumer Financial Protection Bureau.

Federal judge calls out law firm for ‘cleverly’ using ellipses

A California law firm was unable to persuade a federal judge in Santa Ana that the Consumer Financial Protection Bureau had gone on an “impermissible fishing expedition” in seeking the…

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