Law and legal issues

New York's attorney general announces MoneyGram will pay a civil fine to settle a lawsuit over its handling of remittance payments; Swedish buy now/pay later lender Klarna is getting into the telecom business; Truist Financial has hired Charles Alston to lead its new nonprofit hospital, higher education and government banking team; and more in this week's banking news roundup.

Buy now/pay later provider Sezzle has filed a lawsuit against Shopify, alleging that the e-commerce giant engaged in antitrust practices by making it difficult for merchants to integrate Sezzle's BNPL offering into their websites.

Opposition is growing to the Trump administration's efforts to roll back fair lending requirements for lenders imposed by Biden-era prosecutors.

The House and Senate will need to resolve a slight difference between their versions of the bill before sending it to President Donald Trump for his signature.

A Trump-appointed judge refused to dismiss a settlement between the Consumer Financial Protection Bureau and a Chicago mortgage lender over lending practices that an appeals court already said violated the Equal Credit Opportunity Act.

A class action lawsuit against the bank's top executives and its auditor in connection with its 2023 failure was dismissed by a federal judge, who said the court did not have the authority to hear the case.

The Trump administration's plan to fire 90% of the staff at the Consumer Financial Protection Bureau has raised constitutional questions about whether courts can decide whether a president is taking "care that the Laws be faithfully executed."

The STATES 2.0 Act, currently pending in Congress, would go a long way toward giving banks confidence that they can provide services to legal cannabis businesses without putting themselves in legal jeopardy.

The Department of Justice is seeking to terminate a Biden-era lending discrimination settlement with Lakeland Bank. Last month, the DOJ took similar action in a case involving Mississippi-based Trustmark National Bank.

The Consumer Financial Protection Bureau and Bank Policy Institute filed twin motions for summary judgement to strike down a 2024 agency rule for being arbitrary and capricious and exceeding statutory authority.