Latest Legal News: Finextra Research

Amex files metaverse-related trademark applications

American Express has filed trademark applications to register its name, logo, and slogans for a range of banking services in the metaverse.

16 March 2022

News/people

Prosecutors charge former Wirecard CEO

German prosecutors have charged former Wirecard chief executive Markus Braun in relation to the collapse of the payments firm last year.

14 March 2022

News/payments

Mastercard class action suit moves closer to trial as billions more pounds added to claim

A £14 billion class action lawsuit against Mastercard interchange fees has moved a step closer to trial with an additional £2.7 billion added to the claim following the latest judgement by the UK's Competition Appeal Tribunal.

10 March 2022

News/crypto

FCA is investigating 50 crypto firms

The Financial Conduct Authority opened over 300 cases related to crypto firms in a six-month period last year and has 50 live investigations, including criminal probes, into companies in the sector.

03 March 2022

News/retail

Meta and Chime sue alleged phishing scammers

Meta and digital banking giant Chime have filed a first-of-its-kind joint lawsuit against two Nigerian-based individuals they say have been using Facebook and Instagram for phishing attacks designed to get access to victims' financial accounts.

10 February 2022

News/crypto

Feds seize $3.6bn in crypto linked to Bitfinex hack

US authorities have arrested two people and seized $3.6 billion wort of bitcoin in relation to the 2016 hack of cryptocurrency exchange Bitfinex.

08 February 2022

News/people

Union takes CBA to court over $45m worth of untaken tea breaks

Commonwealth Bank of Australia is being taken to court by a union over its alleged failure to give thousands of retail banking employees millions of dollars worth of tea breaks.

21 January 2022

News/regulation

Major tech antitrust bill advanced by US Senate vote

The Senate Judiciary Committee voted 16-6 this week to advance a major tech competition bill, says CNBC.

21 January 2022

News/security

Legacy tech mishandling costs Morgan Stanley $60 million in data breach suit

Morgan Stanley has agreed a $60 million class action settlement relating to legacy technology mishandling that led to two seperate data breaches in 2016 and 2019.

05 January 2022

News/payments

H&R Block sues Square over Block rebrand

Taxation preparation firm H&R Block has filed a trademark infringement suit against Block, the recently rebranded Square business, accusing the payments firm of confusing customers and damaging its psopects as it moves deeper into financial services.

17 December 2021

News/crypto

Craig Wright wins court battle for bitcoin fortune

Craig Wright, the self-declared inventor of bitcoin, is claiming victory in a civil lawsuit filed against him by the family of a dead business partner, despite being ordered to pay $100 million in damages.

07 December 2021

News/wholesale

Arteria AI to buy H4's FS business assets

Enterprise digital documentation specialist Arteria AI has agreed to acquire the financial services business assets of contract lifecycle management platform H4.

01 December 2021

News/crypto

Canadian teen arrested over CAD$46m crypto theft

Canadian police have arrested a teenager in connection with the theft of CAD$46 million in cryptocurrency from a victim in the US.

19 November 2021

News/crypto

Coinbase ditches Lend programme after SEC warning

Coinbase has abandoned its planned interest-earning product two weeks after the cryptocurrency exchange revealed that the SEC was threatening to sue over the issue.

20 September 2021

News/crypto

Binance announces restructure to assuage regulator concern

Cryptocurrency exchange, Binance, is set to centralise its business structure in the wake of intensifying regulatory concern over the firm’s lack of systemic transparency.

17 September 2021

News/crypto

Coinbase says SEC is threatening to sue over Lend product

The Securities and Exchange Commission intends to sue Coinbase over a planned interest-earning product, says the cryptocurrency exchange.

08 September 2021

News/security

Fired credit union employee gets revenge by wiping 20GB of data

A US woman who broke into a credit union's computer system and destroyed more than 20 gigabytes of data in retaliation for being fired, has pleaded guilty in a Brooklyn court.

03 September 2021

News/people

Binance hires new Singapore CEO amid ongoing legal battles

Fiat-to-crypto trading platform Binance has today announced the appointment of Richard Teng – former chief executive officer (CEO) of Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM) – as its new CEO, Singapore.

23 August 2021

News/payments

CAT clears way for £10bn Mastercard class action

A £10 billion class action lawsuit against Mastercard over interchange fee charges is finally set to go ahead after getting certified by the Competition Appeal Tribunal (CAT).

19 August 2021

News/retail

Plaid settles $58 million class action lawsuit

Plaid has settled a $58 million class action lawsuit over claims that the fintech firm passed on personal banking data to third party firms without user consent.

09 August 2021