Feds sue Zelle, alleging nation's biggest banks failed to stop fraud

CFPB sues JPMorgan Chase, Bank of America and Wells Fargo over Zelle payment fraud

Zelle, a peer-to-peer payments network run by bank-owned fintech firm Early Warning Services, allows for instant payments to other consumers and businesses.

CNBC - 1d

Biden Administration Sues 3 Big Banks Over Zelle Fraud

Action against Bank of America, JPMorgan Chase and Wells Fargo may not survive President-elect Donald J. Trump’s return to office.

The New York Times - 1d

Banking app Dave, back from the brink, is this year's biggest gainer among financials with 934% surge

Dave, which makes money by extending loans to cash-strapped Americans, is emblematic of a larger shift that's still in its early stages, analysts say.

CNBC - 1d

Feds sue Zelle, alleging nation's biggest banks failed to stop fraud

Government watchdog claims Americans lost hundreds of millions to fraud related to the bank-operated mobile payments network.

CBS News - 1d

CFPB sues America's largest banks for 'allowing fraud to fester' on Zelle

The Consumer Financial Protection Bureau is suing America's three largest banks, accusing the institutions of failing to protect customers from fraud on Zelle, the payment platform they co-own.

NBC News - 1d

More than $125 million is stolen every year on Zelle. The feds say little is done to stop it.

A lawsuit filed by the CFPB says Zelle and the big banks that own it left the platform vulnerable to fraud in an effort to rush it to market to compete with Venmo and CashApp.

MarketWatch - 1d

Watchdog accuses Zelle, banking giants of failing to protect users against fraud

The government’s consumer watchdog alleged Zelle and three banking giants failed to protect users from fraud on the peer-to-peer payment network. The Consumer Financial Protection Bureau (CFPB) ...

The Hill - 1d

The Fed's rate outlook has rattled markets. Here's what it means for global central banks

The Federal Reserve roiled markets by raising its inflation outlook and signaling fewer rate cuts next year — and global central banks were likely taking note.

CNBC - 2d

Longtime Sonic Composer Sues Sega Over Alleged Unpaid Royalties, Song Use

The popular theme song "Live and Learn" from Sonic Adventure 2 will be featured in the upcoming Sonic the Hedgehog 3 movie, but the song is now also the subject of a legal dispute between its ...

GameSpot - 2d

Bibi Netanyahu Is Failing Ever Upward

The Israeli prime minister remains in power.

The New York Times - 3d

Why money’s flowed into Bank of America bonds — and how a Fed pause in rate cuts may help financial firms

The Federal Reserve’s expected interest-rate cut Wednesday is seen as a potential boost for the banking sector, as corporate bond investors weigh prospects for the U.S.‘s money-center banks.

MarketWatch - 3d

China tells UK to ‘stop creating trouble’ over alleged spy

Embassy spokesperson accuses MPs of ‘arrogance and shamelessness’

Financial Times - 4d

Why numeric migration caps fail

Previous Tory governments kept breaking promises and eroding trust — would setting a range of targets be any better?

Financial Times - 6d

West Africa bloc approves exit timeline for 3 coup-hit nations after failed peace efforts

ABC News - 6d

He faked his own death in 2020. A trail of rape and fraud allegations finally caught up to him.

Authorities set on a worldwide chase to find Nicholas Alahverdian, once praised for his work as a child advocate, who has been accused of rape, abuse and fraud.

NBC News - Dec. 14

4 Reasons Acquisition Deals Fail

Here’s what often goes wrong in acquisition deals and how to avoid costly mistakes.

Inc. - Dec. 14

Fed’s review of KeyCorp deal signals lighter touch on bank mergers by central bank

Analyst hails Fed’s quicker-than-expected approval of an investment in KeyCorp by the Bank of Nova Scotia as a good sign for more dealmaking.

MarketWatch - Dec. 13

CFPB announces rule limiting bank overdraft fees; trade group sues in response

The CFPB says the rule will save American consumers $5 billion annually.

CNBC - Dec. 12

British trader found guilty of £1.4bn fraud in Denmark

He was sentenced to 12 years in prison - the heaviest penalty ever for a Danish fraud case.

BBC News - Dec. 12

Swiss National Bank takes leap with 50-basis-point interest rate cut amid franc strength

The Swiss National Bank on Thursday cut its key interest rate by 50 basis points, exceeding expectations of a smaller trim.

CNBC - Dec. 12

Albertsons gives up on Kroger merger, sues grocery chain for failing to secure deal

Albertsons is giving up on its merger with Kroger a day after it was rejected in two courts and it is suing the grocery chain, saying it didn’t do enough to secure regulatory approval of the $24.6 ...

ABC News - Dec. 11

Albertsons Gives Up Kroger Bid, Sues the Grocery Chain for Failed Deal

The lawsuit follows two separate Monday rulings blocking what would have been the largest ever grocery chain merger.

Inc. - Dec. 11

The case for a global defence bank

Transformative solutions are required to overhaul procurement and expand the pool of available capital

Financial Times - Dec. 11

Albertsons abandons merger and sues Kroger

Albertsons said Wednesday that it has terminated a $25 billion merger agreement with Kroger and will sue the grocery giant, alleging the company didn’t do enough to get the deal done. Judges in ...

The Hill - Dec. 11

Head of Syria's biggest rebel faction in first appearance since Assad's fall calls it "a victory to the Islamic nation."

ABC News - Dec. 8

Acadia Healthcare’s Methadone Clinics Face Fraud Complaints

Acadia Healthcare falsifies records at its methadone clinics and enrolls patients who aren’t addicted to opioids, a Times investigation found.

The New York Times - Dec. 7

CFPB sues Comerica Bank, alleging it failed to administer federal benefits program

The Consumer Financial Protection Bureau accused the bank of intentionally terminating calls and mishandling fraud complaints.

CNBC - Dec. 6

The Biggest Business Fails of 2024

What do a global IT outage, glue on pizza, and the decline of an aviation giant have in common?

Inc. - Dec. 6

'The biggest thing was hockey sense and versatility': Inside Team USA's 4 Nations roster selection process

With a talent pool as rich as any country's, GM Bill Guerin had many difficult decisions. Here's the inside scoop on his thought process.

ESPN - Dec. 5

Biggest headlines of National Signing Day & Championship Week Race for the Case

Through all of the early December craziness, Dan Wetzel, Ross Dellenger and Pat Forde assemble to catch you up on National Signing Day and Conference Championship Week.

Yahoo Sports - Dec. 5

National Signing Day 2024: The nine biggest college football recruiting decommitment "flips"

A rundown of the most earth-shaking college football recruiting flips on Day 1 of the early signing period.

CBS Sports - Dec. 5

Poker pro pleads guilty to bettor fraud scheme

A professional poker player pleaded guilty to defrauding bettors by falsely claiming to have inside information on sporting events.

ESPN - Dec. 4

Watch live: Fed Chair Jerome Powell discusses central bank independence, crypto at Dealbook conference

The appearances comes two weeks ahead of when the central bank will announce is decision on interest rates.

CNBC - Dec. 4

Founder of Failed Crypto Lending Platform Celsius Network Pleads Guilty to Fraud

Alexander Mashinsky faces decades in prison after illegally manipulating prices and admitting to commodities and securities fraud.

Inc. - Dec. 4

Celsius Founder Alex Mashinsky Pleads Guilty to Fraud

The founder of crypto lender Celsius has admitted to lying to customers about how their money would be used and manipulating markets for his personal gain.

Wired - Dec. 4

Fraud arrest over 'justice for killed PC' campaign

The arrest is in connection with a campaign to bring the killer of PC Yvonne Fletcher to justice.

BBC News - Dec. 4

Founder of failed crypto lending platform Celsius Network pleads guilty to fraud charges

The founder and former CEO of the failed cryptocurrency lending platform Celsius Network has pleaded guilty to federal fraud charges, admitting that he misled customers about the business

ABC News - Dec. 3

Kendrick Lamar and SZA set Grand National tour with two stops at Inglewood's SoFi

Kendrick Lamar, fresh off his latest album 'GNX,' will hit the road with SZA next spring for their joint Grand National tour. Here are their L.A. dates.

Los Angeles Times - Dec. 3

Covid corruption commissioner starts fraud probe

Tom Hayhoe's first task will be reviewing the £8.7bn of pandemic PPE that had to be written off.

BBC News - Dec. 2

Feds sue Zelle, alleging nation's biggest banks failed to stop fraud

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