Liability News
Fifth Third Bancorp Will Pay $85M to Settle Mortgage Fraud Case
Fifth Third Bancorp will pay more than $84.9 million to resolve U.S. civil fraud charges that it failed to disclose material defects in more than 1,400 mortgage loans in a timely manner after ...
VW Under Pressure for Answers About Emission Scandal Details
Hans Dieter Poetsch's first board meeting as chairman of Volkswagen on Wednesday could turn out to be his most important, coming just hours before a deadline set by German regulators and testimony by ...
U.S. Supreme Court Rejects Charles Schwab Appeal in Breach-of-Contract Dispute
The U.S. Supreme Court on Monday left intact an appeals court decision that allowed a financial adviser to sue Charles Schwab Corp over allegations that the brokerage firm deviated from objectives ...
BP’s Record Oil Spill Settlement Rises Another $2 Billion
The value of BP Plc's settlement with the U.S. government and five Gulf states over the Deepwater Horizon oil spill will rise to $20.8 billion, an increase of $2 billion from an agreement reached in ...
Hurricane Joaquin Fades as U.S. Threat; Bahamas Still Vulnerable
A weakening Hurricane Joaquin probably won't be a threat to the U.S. as it turns north in the Atlantic away from the Bahamas, where it's battering the islands with winds that fell to 125 miles (200 ...
Allianz, AIG, Others Start Commercial Drone Insurance Association
Allianz and AIG partnered with a major aviation insurer, a specialized broker and an attorney to launch a new trade association focused on the surging commercial drone industry. The Unmanned Aircraft ...
Insurers Face Major Exposure to Climate Change Risks: Bank of England Governor
Bank of England Governor Mark Carney said UK insurers face potentially "huge" exposure to shifts in climate-change policy and Group of 20 nations need to do more to combat associated financial ...
Russian National Sentenced in ‘Citadel’ Malware Cyber Crime Scheme
A Russian national was sentenced on Tuesday to 4-1/2 years in U.S. prison for using sophisticated malware known as "Citadel" to steal banking information from thousands of computers, authorities ...