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Latest News in Banking

• May 10, 2024

  Ill. Residents Ask Court To Void Alaskan Tribal Co. Loans

  Six borrowers accusing an Alaska-based tribal lending company of making usurious loans at annual rates of as much as 700% or more have filed suit in Illinois federal court, saying it violated racketeering laws and must void the already existing debt.

• May 10, 2024

  Adviser's 'Rogue' Trading Cost Investor $700K, Suit Says

  An attorney nearing retirement has filed suit against a former UBS investment adviser, alleging he lost over half of a $1.2 million nest egg after the adviser surrendered his broker licenses and started "rogue" trading in risky commodities investments.

• May 10, 2024

  Texas Couple Must Sell $2.3M In Assets To Satisfy Tax Claim

  A disbarred accountant and his wife must sell $2.27 million worth of their assets to satisfy her unpaid federal tax liabilities, a Texas federal judge ruled, handing an early win to the government.

• May 10, 2024

  Del. Ruling Highlights M&A Deal Adviser Conflict Disclosures

  The Delaware Supreme Court recently reversed the Court of Chancery's dismissal of challenges to Nordic Capital's acquisition of Inovalon, demonstrating the importance of full disclosure of financial adviser conflicts when a going-private merger seeks business judgment rule review, say attorneys at Debevoise.

• May 10, 2024

  CFPB's Credit Card Late Fee Rule Halted By Texas Judge

  A Texas federal judge on Friday stayed the Consumer Financial Protection Bureau's $8 credit card late fee standard, granting a preliminary injunction sought by the U.S. Chamber of Commerce and other industry groups that are challenging the legality of the agency rule.

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