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Former Wilmington Trust Corp. President Robert V.A. Harra was ordered to prison for six years by a federal judge in Delaware on Monday, the first of four bank executives sentenced for a Great Recession securities fraud scheme that effectively broke the regional financial institution.
The U.S. Treasury Department and the Internal Revenue Service aren’t working on transfer pricing regulations that cover the pricing of guarantees in cross-border financing arrangements, a Treasury official said Friday in sharing the government’s current thinking.
The likely next chair of the House Financial Services Committee and nearly two dozen other Democrats urged the Consumer Financial Protection Bureau’s new director on Friday to proactively supervise firms for compliance with servicemember lending rules, calling her predecessor’s reported pullback plans "nothing less than a dereliction of duty."
PayPal Holdings Inc. and its executives escaped a proposed shareholder class action accusing the company of concealing a data breach, which allegedly led to a stock drop when the hack was revealed, after a California federal judge dismissed the investors' complaint.
A Massachusetts federal judge Friday granted preliminary approval of a $4.9 million settlement in a proposed class action filed by shareholders against State Street Corp., in which they claimed the bank overcharged clients and blew up revenue and profits in its financial statements.