Latest Legal News: Finextra Research

Union files suit over CFPB shutdown

A labour union has filed lawsuits against Consumer Financial Protection Bureau acting director Russell Vought after he ordered staff to halt much of the watchdog's activities.

10 February 2025

Company update/startups

Westpac invests in Lawpath

Westpac today announced an investment in legal and business services provider, Lawpath, and an exclusive partnership to support startups and small-to-medium sized businesses.

05 February 2025

Company update/ai

Puma Growth Partners invests in legal and fintech specialist Semeris

Puma Growth Partners (“Puma”), a leading provider of growth capital to small and medium-sized businesses, has led a $4.3 million investment into legal and financial technology specialist, Semeris.

03 February 2025

Company update/people

AffiniPay appoints Nathan Waite chief revenue officer

AffiniPay, a leader in legal practice management software, integrated payments, and embedded fintech solutions for professionals, has announced Nathan Waite as its new Chief Revenue Officer.

10 January 2025

News/payments

JPMorgan files suits over Viva Wallet dispute

JPMorgan Chase has filed new lawsuits in the UK and Greece connected to its investment in fintech Viva Wallet.

09 January 2025

News/crypto

Blockchain groups sue US IRS over new DeFi regulations

The US Internal Revenue Services (IRS) and Treasury are facing legal action from a number of blockchain trade groups over newly introduced rules for crypto brokers.

02 January 2025

News/ai

Putin orders Russian bank to cooperate with China on AI

Sberbank, Russia’s largest financial institution, has been told to work with China on the development of AI-based services.

02 January 2025

News/regulation

Dave faces US lawsuit

The US Department of Justice and Federal Trade Commission have launched legal action against Dave, the mobile banking app, alleging that it misled customers over its charges.

02 January 2025

News/payments

CFPB sues JPMorgan, BofA and Wells Fargo over Zelle fraud

The Consumer Financial Protection Bureau has filed a lawsuit against JPMorgan Chase, Bank of America and Wells Fargo, accusing them of allowing fraud to "fester" on P2P payments platform Zelle.

20 December 2024

News/payments

Google files lawsuit over CFPB supervisory order

Google is prepared to take the US Consumer Financial Protection Bureau to court over plans to establish supervisory authority over Google Payment Corp.

09 December 2024

News/retail

Synapse fallout: partner banks face lawsuit

The fallout from the collapse of Synapse continues, with several partner banks facing a lawsuit alleging mishandling of customer funds, and one of those banks insisting that end user funds it once held were moved by the BaaS platform before it went bankrupt.

28 November 2024

News/crypto

Bitfinex hacker who stole 120,000 bitcoins gets five years in prison

The man behind a hack on Bitfinex that saw nearly 120,000 stolen from the cryptocurrency exchange has been sentenced to five years in prison.

18 November 2024

Company update/people

Clio welcomes A J Axelrod as vice president of payments and financial services

Clio, the world’s leading provider of cloud-based legal technology, is proud to announce the appointment of A.J. Axelrod as Vice President of Payments and Financial Services.

13 November 2024

Company update/regulation

Cinkciarz seeks regulatory action againt Polish banks

Since the beginning of Cinkciarz.pl's operations (2010), a company belonging to Conotoxia Holding, some banks have systematically and deliberately blocked the company's funds, holding more than 1.3 billion PLN in various currencies, such as euros, dollars and British pounds.

04 November 2024

News/wholesale

AFP: Fraud is the biggest painpoint for accounts payables automation

Kicking off the first day of AFP, the conference for finance and treasury professionals held in Nashville, Tennessee this year, Mike Watercott, CTP, working capital consultant, US Bank, led a discussion on striking the balance in payments with Andy Sullivan, vice president of channel sales, Bottomline and Cynthia MacGeagh, treasury manager, Clayton Homes.

21 October 2024

News/regulation

TD Bank fined $3bn after money laundering guilty plea

TD Bank has agreed to pay $3 billion in penalties after pleading guilty to violating US anti-money laundering federal laws.

10 October 2024

News/crypto

FTX gets green light to repay billions to customers

Customers of failed crypto exchange FTX will receive up to $16.5 billion under a bankruptcy plan approved by a US judge.

08 October 2024

News/startups

EIB announces plan to boost funding for European fintechs

The European Investment Bank (EIB) has proposed a series of measures designed to strengthen funding for fintechs and startups within Europe.

08 October 2024

News/security

Fintech Australia backs government's scam prevention plan

The industry group for Australia's startup sector, Fintech Australia, has given its support for the government's proposals to implement scam obligations for financial services firms.

08 October 2024

Company update/regulation

GLEIF approves E-Arbitrator as validation agent

The Global Legal Entity Identifier Foundation (GLEIF) today announces that E-Arbitrator (Website) has been approved as the latest Validation Agent within the Global Legal Entity Identifier (LEI) System.

08 October 2024