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Latest News in Banking

• April 03, 2026

  Judge Sets Interest Rules In $540M BofA Payment Fight

  A D.C. federal judge said Bank of America NA must pay interest on a $540 million debt it owes the Federal Deposit Insurance Corp. based on a government-set rate for the time before the ruling and a standard federal rate for the time after, marking a step toward settling the parties' dispute on the proper formulas for calculating the payments.

• April 03, 2026

  Long Island Investment Adviser Cops To $160M Fraud

  A Long Island, New York, man admitted Friday to defrauding clients out of $160 million by hiding conflicts of interest and falsely claiming their investments in various private equity funds were safe and low-risk.

• April 03, 2026

  3rd Circ. Preview: Arbitration Limits, Power Plant Safety

  The Third Circuit in April is set to examine the limits of an arbitrator's authority to change awards once they've been made, potentially defining the restraints of commercial arbitration rules and when rulings can be revisited.

• April 03, 2026

  Ameriprise To Pay $1.4M Over Annuity Supervision Claims

  Ameriprise Financial Services LLC has agreed to pay nearly $1 million in restitution and a $450,000 fine to end allegations from the Financial Industry Regulatory Authority that the Minneapolis-based firm failed to properly supervise recommendations of certain variable annuity exchanges.

• April 03, 2026

  Plaid Beats Fintech Patent Suit With Alice Finding

  A Utah federal judge has dismissed a patent infringement suit against financial services firm Plaid Inc., ruling that the asserted patent covering authentication processes for third-party transactions was directed to an abstract subject matter.

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