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The Consumer Financial Protection Bureau on Friday announced it had filed a lawsuit against Comerica Bank, accusing it of systematically harming three million Direct Express cardholders, many of whom rely on Social Security and other federal benefits. Comerica is alleged to have deliberately disconnected more than 24 million customer service calls, charged illegal ATM fees to more than one million cardholders, and mishandled fraud claims.
Swedish debt collector Intrum won U.S. court approval for a $4.6 billion debt restructuring, defeating a bondholder group that argued the company didnt need or deserve the protections of bankruptcy. JudgeChristopher Lopezof the U.S. Bankruptcy Court in Houstonconfirmed a restructuring plan that cuts Intrums debt while preserving its equity holders stakes in the business.The judge simultaneously ruled againsta bondholder groupthatargued the company wasnt in financial distress and had manufactured
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AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
The Court of Appeals for the Second Circuit has affirmed a ruling in favor of the defendant in a Fair Credit Reporting Act case, ruling that the plaintiff failed to demonstrate a concrete injury as required to establish standing in federal court. The background: The case stemmed from the plaintiffs long-standing dispute with the defendant, a credit reporting agency.
Rohit Chopra made his first public comments about Elon Musk’s call to “delete” the Consumer Financial Protection Bureau this weekend, while a published report in The New York Times said that the Bureau is “likely here to stay. Chopra also addressed his future at the CFPB, which is likely to end when President Trump takes office in January. “I don’t even know what it means,” Chopra said during a televised interview on MSNBC. “When you say you’
Rohit Chopra made his first public comments about Elon Musk’s call to “delete” the Consumer Financial Protection Bureau this weekend, while a published report in The New York Times said that the Bureau is “likely here to stay. Chopra also addressed his future at the CFPB, which is likely to end when President Trump takes office in January. “I don’t even know what it means,” Chopra said during a televised interview on MSNBC. “When you say you’
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