Free Newsletter
Wells Fargo faces lawsuits, angry lawmakers over car lending
NEW YORK (AP) — At least three lawsuits have now been filed against Wells Fargo from customers who say they were hurt by the bank’s latest scandal, involving how it operated its auto lending business. In Washington, D.C., some politicians still angry at Wells Fargo over the sales practices scandal from last year are calling […]
US appeals court tosses convictions of British ex-bankers
NEW YORK (AP) — A U.S. appeals court cited the Fifth Amendment right to be free from self-incrimination as it reversed the convictions Wednesday of two British ex-bankers charged with conspiring to manipulate the primary benchmark for global short-term interest rates. The 2nd U.S. Circuit Court of Appeals in Manhattan said the 2015 trial of […]
RBS to pay $5.5 billion in FHFA mortgage-bond settlement
Royal Bank of Scotland Group agreed to pay $5.5 billion to settle the second of three major U.S. mortgage-backed securities probes the government-owned lender must overcome before it can fully return to the private sector. The accord between the British bank and the Federal Housing Finance Agency is the second-biggest the FHFA has extracted and, […]
Federal regulator moves to mostly ban arbitration clauses
NEW YORK (AP) — Consumers could band together to sue their banks or credit card companies under a federal rule issued Monday that’s likely to face resistance from Congressional Republicans and the White House. The Consumer Financial Protection Bureau decided to ban most types of mandatory arbitration clauses, which require credit card or bank customers […]
Ex-BofA vice president, husband charged in embezzlement scam
A former Bank of America senior vice president and her husband were charged with embezzling more than $2.7 million by making charitable donations on behalf of the lender and then using intimidation and threats to get the money back for their personal use. Palestine Ace, 45, of the bank’s global wealth & investment management division, […]
Warren Buffett slams Wells Fargo’s handling of massive sales scandal
Billionaire investor Warren E. Buffett rebuked Wells Fargo’s handling of widespread illegal sales practices that spanned at least 15 years and included targeting undocumented immigrants to open new bank accounts. Buffett said the San Francisco banking giant’s executives failed to act immediately after finding out that employees were creating countless fake and fraudulent bank accounts [...]
Banks, consumer groups lock horns over arbitration
Consumer rights advocates, joined by New York’s attorney general, and the banking industry are going toe to toe over a federal proposal to block banks from using mandatory arbitration to resolve disputes with their customers. The 90-day comment period on a Consumer Financial Protection Bureau proposal to restore customers’ right to file class-action lawsuits against […]
Bank of New York Mellon profit soars in 4Q
NEW YORK — Bank Of New York Mellon more than tripled its fourth-quarter profit on rising in net interest revenue and lower expenses, easily beating most expectations. Global economic turmoil still weighed on performance. Assets under management, because of weakness overseas and a strong dollar, fell about 4 percent from the same period a year […]
KeyBank funds scholarships at St. John Fisher
St. John Fisher College received a $5,000 grant from KeyBank to assist with undergraduate scholarship awards. The scholarship dollars were awarded to two Fisher students to help offset the cost of tuition. Eligibility for the scholarship requires students to be permanent residents of New York state, have a minimum grade point average of 2.5, be […]
ESL accepting applications for scholarships
High school seniors in the Greater Rochester area have another chance at winning $2,000 to put toward their college expenses. ESL Federal Credit Union is now accepting applications for its annual scholarship program, with five scholarship awards totaling $10,000. Scholarship applications are available in ESL branches and online at www.esl.org. In order to be eligible, […]
KeyCorp strikes $4.1B deal for rival bank First Niagara
CLEVELAND — KeyCorp will expand deeper into the Northeast with a $4.1 billion deal to buy First Niagara Financial Group and create the 13th largest commercial bank in the United States. Cleveland-based KeyCorp said Friday that it will pay a portion of its stock and $2.30 in cash for each share of First Niagara. The […]
Treasury bureau lauds Rochester firm
Rochester-based Continental Service Group Inc., a provider of accounts receivable management services, was recognized as the top performer by The U.S. Department of the Treasury – Bureau of the Fiscal Service for the quarter ending in September. In 2011, the company, which does business as ConServe, was selected to be one of only four private […]
Case Digests
- Fourth Department – Breach of contract: Hausrath Landscape Maintenance Inc. v. Caravan Facilities Management LLC
- Second Circuit – New York Child Victim’s Act: Kane v. Mount Pleasant CSD; Coe v. Eastport Union Free School
- NYS Advisory Committee on Judicial Ethics – Appointing law clerk: Opinion 22-149
- Fourth Department – Bill of particulars: Harris v. Rome Memorial Hospital, et al.
- NYS Advisory Committee on Judicial Ethics – Accusations against co-judge: Opinion 22-148
- Fourth Department – Medicaid: Washington Center for Rehabilitation and Nursing Home v. NYS Dept. of Health
- Fourth Department – Criminal possession of a firearm: People v. Wilson
- Fourth Department – Promoting prostitution: People v. Watts
- Second Circuit – Class certification: Arkansas Teachers Retirement System V. Goldman Sachs Group Inc.
- Fourth Department – Show-up identification: People v. Waggoner
- Fourth Department – Association: Victory Village Tenants Assoc. v. Evergreen Communities, et al.
- Second Circuit – In personam jurisdiction: Kaplan v. Bank Saderat PLC
Law News
- Greenlight Networks selects Buffalo-based attorney as general counsel
- Barclay Damon hires attorney Matt Smith
- Rochester man sues Geneseo police, alleging false arrest, assault
- The Daily Record’s Power List for Intellectual Property 2023
- NY ethics panel says judges can join NRA
- Harter Secrest & Emery LLP names partner-in-charge of Buffalo office
- Banned professor sues SUNY Fredonia leaders
- Hochul signs law requiring unemployment insurance information from employers
Polls
Loading ...