{
}
Milieudefensie has initiated a climate lawsuit against ING Groep NV. The bank's head of business ethics, Arnaud Cohen Stuart, stated that they have not yet reviewed the claims but find them to be unrealistic and unreasonable so far.
BNP Paribas Taiwan lifted the suspension of employee representative Mr. Wu on March 17, following intervention from UNI Global Union under a new global agreement. Wu had been suspended for allegedly misusing company resources while promoting union formation, but discussions led to a resolution, allowing him to withdraw his unfair labor practice complaint. The Taiwan Federation of Financial Unions supported Wu, and both parties are now exploring cooperation on labor education and union formation.
Bernstein Litowitz Berger & Grossmann LLP, Simmons Hanley Conroy LLP, and Berger Montague PC have been appointed as interim class counsel in a consolidated class action against Wells Fargo & Co. The lawsuit alleges that the bank paid unreasonably low interest rates on customer cash accounts. Judge Vince Chhabria of the US District Court for the Northern District of California approved their motion, surpassing at least three competing firms.
Milieudefensie has initiated a legal case against ING regarding its climate action strategy, claiming the bank's approach is insufficient. ING's Head of Business Ethics, Arnaud Cohen Stuart, stated that while they share climate concerns, they believe the demands are unrealistic and do not align with the bank's role in facilitating systemic change. Despite the legal proceedings, ING remains committed to advancing its climate action strategy and supporting clients in their transition efforts.
UBS has been ordered to pay a fine of 172.4 million euros after the EU court upheld penalties for its involvement in a bond cartel. The court also slightly reduced fines for UniCredit and Nomura, while other banks involved were not penalized. UBS is considering an appeal against the ruling, which highlights ongoing scrutiny of banking practices amid potential market turbulence.
Charlie Javice, founder of the student-finance startup Frank, is accused of committing "brazen fraud" by inflating user numbers to sell her company to JPMorgan Chase for $175 million. Prosecutors allege she misled the bank about having over 4 million users, while the actual figure was closer to 300,000. Javice allegedly hired a data scientist to create fake customer data after her engineering team refused to participate in illegal activities.
A jury awarded the Seminole Tribe of Florida over $818 million after finding Wells Fargo Bank and its predecessor, Wachovia Bank, liable for charging unauthorized fees and mishandling a trust fund for the tribe's children. The verdict, delivered on March 25, 2025, highlighted the bank's failure to uphold its fiduciary duties. Attorney William R. Scherer Jr. emphasized that this ruling serves as a warning to financial institutions regarding their responsibilities to clients.
The former North American CEO of UBS has reached a $4.9 million settlement approved by a Connecticut federal court, resolving a lawsuit from the U.S. government. This deal addresses issues related to the Foreign Bank and Financial Accounts (FBAR) compliance.
UBS, UniCredit, and Nomura have lost their appeal against a €371 million EU cartel fine, with the court upholding UBS's €172.4 million penalty while reducing fines for UniCredit and Nomura. The banks' traders were found to have engaged in anti-competitive practices from 2007 to 2011. Both UniCredit and Nomura plan to appeal the ruling, disputing their involvement in the infringement.
The EU's General Court upheld significant fines against UBS, Nomura, and UniCredit for colluding in the government bond markets during the 2008 financial crisis. The banks, along with others, were found to have shared sensitive information to gain an unfair advantage. UBS faces fines exceeding €172 million, while Nomura and UniCredit are fined €125.6 million and €65 million, respectively.
Banking & Investment Regulations
SubCategory
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Milieudefensie initiates climate lawsuit against ING Groep NV
10:09 28.03.2025
bnp paribas resolves employee suspension through global union agreement in taiwan
06:07 28.03.2025
wells fargo cash sweep case appoints bernstein litowitz as counsel
01:42 28.03.2025
Milieudefensie initiates legal action against ING over climate strategy
01:00 28.03.2025
EU court upholds UBS bond cartel fine of 172 million euros
Swiss Franc
Euro
United States Dollar
Bank of America Corporation
Nomura Holdings, Inc.
UniCredit S.p.A.
NatWest Group plc
CHE
Sergio Ermotti
Show more
08:48 27.03.2025
jpmorgan accuses charlie javice of fraud in startup sale for 175 million
04:17 27.03.2025
Seminole Tribe awarded 832 million in lawsuit against Wells Fargo Bank
United States Dollar
Wells Fargo Bank, N.A. Capped Point to Point CD AADIQXX
USA
Larry Howard
Holly Tiger
Jim Shore
William R Scherer Jr
Show more
03:59 27.03.2025
former UBS North America CEO agrees to 4.9 million FBAR settlement
20:58 26.03.2025
ubs unicredit and nomura lose appeal in eu bond cartel case
Euro
Bank of America Corporation
UBS Group AG
Nomura Holdings, Inc.
UniCredit S.p.A.
NatWest Group plc
Foo Yun Chee
Show more
19:33 26.03.2025
eu court upholds fines against banks for colluding in bond markets
Euro
The Royal Bank of Scotland N.V. Issuer Callable Fixed To Floating Fully Principally Protected Note AATIFXX
Bank of America Corporation
Nomura Holdings, Inc.
UniCredit S.p.A.
NatWest Group plc
FRA
DEU
ITA
GBR
JPN
CHE
USA
Cain Burdeau
Show more
19:33 26.03.2025
Trending
Subcategory
Corporate News
Industry Trends
Stock Market Updates
Industry Mergers & Acquisitions
Workplace Trends
Global Financial Events
Banking Regulations
Finance Mergers & Acquisitions
Retail and Consumer Goods
CEO Changes
Market Analysis and Predictions
Startups & Entrepreneurship
Global Trade Developments
Government Policies
Central Bank Actions
Domestic Politics
Private Equity Deals
Financial Scams and Security
Government Economic Policies
Supply Chain Management
Countries:
Companies:
JPMorgan Chase & Co.
Tesla, Inc.
Barclays PLC
Credit Suisse Lux Digital Healt
Bank of America Corporation
UBS Group AG
Deutsche Bank Money Market PP
The Goldman Sachs Group, Inc.
BNP Paribas SA
Apple Inc.
Wells Fargo & Company
UniCredit S.p.A.
Commerzbank AG
Banco BPM S.p.A.
Banco Santander, S.A.
SpaceXCoin USD
Morgan Stanley
Amazon.com, Inc.
Danske Bank A/S
NVIDIA Corporation
Currencies:
United States Dollar
Euro
British Pound Sterling
Chinese Yuan
Swiss Franc
Indian Rupee
Japanese Yen
Hong Kong Dollar
Danish Krone
South Korean Won
Australian Dollar
Singapore Dollar
Offshore Chinese Yuan
Russian Ruble
Canadian Dollar
Mexican Peso
United Arab Emirates Dirham
Indonesian Rupiah
Turkish Lira
Chilean Peso
People: