Cryptocurrency exchange Binance and founder Changpeng Zhao are reportedly set to face a class action by investors after a Monday (Jan. 13) decision by the U.S. Supreme Court. The court declined to hear their appeal of a lower court’s decision to let the lawsuit proceed,...
UBS reportedly could settle a case this week involving Credit Suisse, which UBS acquired in 2023. The bank is set to pay hundreds of millions of dollars in the settlement of the case brought by the U.S. Department of Justice, The Wall Street Journal (WSJ)...
The legal battle between J.P. Morgan Chase and Greece’s Viva Wallet is not over. The Wall Street banking giant has filed a pair of lawsuits related to its investment in the FinTech, Reuters reported Wednesday (Jan. 8). It marks the latest chapter in an ongoing...
Apple reportedly agreed to pay $95 million to settle a privacy lawsuit centered on its voice assistant, Siri. A preliminary settlement was filed Tuesday (Dec. 31) but must be approved by a U.S. district judge, Reuters reported Thursday (Jan. 2). In the agreement, Apple denied...
Mobile banking app Dave is pushing back against claims in a new government lawsuit. The Department of Justice (DOJ) filed a suit Monday (Dec. 30) against the FinTech and its CEO Jason Wilk, alleging they violated federal law by deceptively advertising Dave’s cash advances, charging hidden fees, misrepresenting how...
The Justice Department said Monday (Dec. 30) that it recovered nearly 94% of fraud losses for victims of the Ponzi scheme for which Bernard L. Madoff pleaded guilty in 2009. The agency said this in a Monday press release announcing the Madoff Victim Fund’s 10th...
The Federal Trade Commission (FTC) has referred its previously announced federal court case against online cash advance firm Dave to the Department of Justice (DOJ). The DOJ, in turn, has filed an amended complaint that names the company’s CEO, Jason Wilk, as a defendant and...
OpenAI said Friday (Dec. 20) that it will appeal a fine imposed by an Italian authority that alleged that the company violated the European Union’s General Data Protection Regulation (GDPR). Italy’s data protection agency, the Garante, fined OpenAI 15 million euros (about $15.6 million), saying it found...
The Consumer Financial Protection Bureau sued Zelle operator Early Warning Services and three of its owner banks — Bank of America, J.P. Morgan Chase and Wells Fargo — alleging that they failed to protect consumers from “widespread fraud” on the peer-to-peer payment network. The agency’s...
