A federal court in Minnesota yesterday granted class action status to a lawsuit by financial institutions against Target over the retailer’s 2013 data breach. Institutions eligible for the class include all U.S. issuers of payment cards compromised in the breach. Class action status will allow plaintiffs to coordinate representation, discovery, witnesses and other court processes.
FHA’s proposed implementation of a new rule removing the face-to-face meeting requirement for certain mortgagees could actually increase the complexity and risk of the borrower engagement process, ABA and three associations said.
Federal Reserve, FDIC and OCC extended the public comment period for their request for information on bank partnerships with financial technology companies to Oct. 30.
Household incomes are catching up with inflation, with important implications for credit quality and overall consumer health.
The FDIC announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Pennsylvania affected by Tropical Storm Debby.
ABA and the Colorado Bankers Association released a new ad highlighting Rep. Brittany Pettersen’s (D-Colo.) support for legislation that would enable banks to provide services to licensed cannabis businesses in states where cannabis is legal.
The Treasury Department and IRS released proposed regulations concerning the implementation of the corporate alternative minimum tax that incorporated an ABA recommendation.
