Bank



Goldman Sachs, JP Morgan and Citigroup Settle Forex Class Action

Goldman Sachs, JP Morgan and Citigroup have agreed to pay $39.25 million to settle a Canadian currency market manipulation class action. The settlements, if approved by a court, will remove those banks from a $1-billion class action that alleges several large financial institutions conspired to rig foreign exchange markets using electronic chat rooms with names such as “The Cartel,” “The …



JPMorgan Sued for Self-Dealing in Its 401(k) Plan

JPMorgan Chase & Co. has been sued by a participant in its 401(k) plan for allegedly causing employees to pay millions of dollars in excessive fees through a scheme motivated by “self-interest.” The plaintiff claims JPMorgan, as well as various board and committee members with oversight of the $21 billion retirement plan , breached their fiduciary duties by, among other things, retaining …



JPMorgan Paid Dozens of Women Less Than Men: Lawsuit

JPMorgan Chase paid female employees less than their male counterparts, according to a Labor Department lawsuit filed Wednesday that seeks to halt new federal contracts with the massive bank until it compensates the women. Since at least May 2012, JPMorgan paid at least 93 women employed as lead application developers, project managers and technology directors in …



TD Bank’s Overdraft Fees Are Illegal, Lawsuit Claims

CHERRY HILL TWP. — A Connecticut woman is suing Cherry Hill-headquartered TD Bank over its allegedly “unlawful” overdraft fee that charges users who don’t replenish their bank accounts within 10 days. Per the class action lawsuit filed Jan. 4 on behalf of Shaina Dorsey by Marlton-based lawyer Stephen DeNittis, the sustained overdraft charge of $20 is imposed after an initial charge of $35 for …


Supreme Court to Weigh Securities Class Action Timing Question

The U.S. Supreme Court on Friday agreed to resolve a legal dispute over whether certain securities class action lawsuits can be barred because they were filed too late. The justices agreed to hear an appeal filed by the California Public Employees’ Retirement System seeking to revive a lawsuit against various financial institutions over their alleged role …