Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Sept. …
PNC Financial Services Group will pay at least $24 million to settle class-action claims that a Virginia bank it acquired charged excessive fees and kicked back money to a mortgage broker for customer referrals. The settlement first reported Tuesday by the Pittsburgh Tribune-Review is detailed in documents filed in U.S. District Court, Pittsburgh. It stems from claims filed …
The PNC Financial Services Group, Inc. PNC has agreed to pay atleast $24 million to settle a class-action lawsuit against Community Bank of Northern Virginia. The Community Bank was purchased by Mercantile Bankshares Corp. in 2005, a year before PNC Financial acquired the Baltimore-based Mercantile. The company, thereby, assumed the on-going lawsuit against the bank.
In August, financial services firms suffered some nasty operational risk losses as a result of problems such as market manipulation, misconduct and poor anti-money laundering (AML) compliance. But the largest loss stemmed from a class action lawsuit against insurance giant AIG. In the late 1990s, MedPartners, a physician practice management company that now operates as CVS Health, touted its …
The strife of thousands of Arab Americans being discriminated against by government entities since 9/11, as well as by some Trump-inspired individuals, is nothing new to the immigrant community. Recently, cases of banks abruptly closing the accounts of their Arab Americans customers without explanation have begun to surface in district courts. Financial institutions like Chase, Bank …
A proposed class action settlement has been reached in Reyes v. Zions First National Bank, Case No. 10-cv-0345, pending in federal court in the Eastern District of Pennsylvania. The Plaintiff alleged that between October 2006 and March 2010, Zions First National Bank, NetDeposit, LLC, MP Technologies d/b/a Modern Payments and Teledraft, Inc., violated federal law by initiating debits on …
Mizuho Bank recently found itself in a legal trouble after its association with defunct Bitcoin exchange Mt. Gox was recognized by a US court. The bank’s name surfaced in the notorious Bitcoin theft case when some of its victims claimed that their withdrawal requests was denied by the Japanese bank.
SAN DIEGO & RIVERHEAD, N.Y.–(BUSINESS WIRE)–Shareholder rights law firm Robbins Arroyo LLP announcesthat a class action lawsuit has been filed against Suffolk Bancorp (NYSE: SCNB) in the Supreme Court for the State of New York, County of Suffolk. The complaint is brought on behalf of shareholders of Suffolk for alleged breaches of fiduciary duties in connection with the acquisition of the …
The vast majority of consumers want to know they can seek their day in court if they get in a beef with a bank. That’s the main takeaway of a report last week from the Pew Charitable Trusts, which examined so-called mandatory arbitration clauses in bank contracts. These are the provisions that say you can’t sue or join a class-action lawsuit, and if you want to settle a dispute, you have to …
Australia’s four biggest banks said on Thursday they were among 17 global lenders being sued by U.S. funds for alleged benchmark interest rate rigging, denying the claims and pledging to contest the action. The suit follows ongoing court action on the matter by Australian regulators, and comes amid increasing scrutiny by global watchdogs on potential market manipulation. Recent investigations …