Bank of America is being sued for $120 million after failing to flag large deposits into small accounts, which were cleared a few days later. Previously, U.S. Bank was fined $600 million for failing to flag and report suspicious activity according to anti-money laundering (AML)...
The Securities and Exchange Commission (SEC) announced it has charged a former Equifax manager with engaging in insider trading before the company announced its massive data breach last year. This is the second case the SEC has filed in the aftermath of the breach. In March, the...
The first class action lawsuit against Exactis has been filed in response to the company’s massive data breach that exposed the private information of more than 200 million U.S. consumers and 110 million business contacts. The marketing and data aggregation firm was the subject of a...
The acting director of the Consumer Financial Protection Bureau has cut a fine against payday lenders in half, as well as dropped some of the agency’s earlier claims in the case. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Everyone’s always talking about online privacy, but this past week or so has brought a meaningful uptick in that ongoing discussion, including a debate that could shape privacy regulations throughout the United States. Such is life in the post-GDPR world. Get the Full Story Complete...
More than a decade after merchants brought a class-action suit against Mastercard, Visa and card-issuing banks in 2005, a settlement between the parties is reportedly in the works. While it is not known how the payment would be split, the card networks and a number...
RetailMeNot announced that it has filed a patent infringement lawsuit against Honey Science Corp. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS...
Financial services companies in the U.K will have to undergo cyber stress tests to ensure they could recover if they were hit with a major cyber breach. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
Bank of America has been accused in a lawsuit of providing more than 100 accounts, used to carry out a $102 million Ponzi scheme. According to Bloomberg, the class-action suit, Heinert v. Bank of America, N.A., was filed in U.S. District Court, Middle District of...
