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Finance/Banking
Judge questions limits of tribal immunity in Minnesota predatory lending suit
Minnesota brought the suit in March seeking to halt the lender’s near 700% interest rates on installment loans.
Key witness in Halkbank’s Iranian sanctions evasion trial sentenced to time served
The opulent gold trader Reza Zarrab, nicknamed the “Turkish Gatsby,” admitted at trial to helping the Islamic Republic of Iran skirt economic sanctions through a money laundering scheme.
Meta likely to dodge suits over WhatsApp investment scams
A federal judge previously ruled victims of a similar investment scheme lacked standing to sue Meta under the Securities Litigation Uniform Standards Act.
Cash App agrees to $45 million settlement over shoddy account security and customer service
Attorneys general from all but four states sued the mobile payment app, claiming it misleadingly hawked the platform’s security and failed to shield users from fraud.
Kalshi loses bid to stop New York from regulating prediction markets
New York officials claim prediction markets like Kalshi and Polymarket are offering unlicensed sports gambling.
Wall Street banks are sky-high about SpaceX, but investors remain cautious
Founder Elon Musk decided to take the company public because it needs money to fund its ambitions.
Judge scraps Musk’s attempt to toss Twitter fraud verdict
The judge rejected Musk’s bid to set aside the verdict in most respects, but he did side with the world's richest man as to the effect of one tweet he sent on May 17, 2022.
Investors claim Oracle misled them over OpenAI deal
A Michigan public pension fund claims Oracle had to increase its debt to meet commitments to OpenAI when the AI giant had its own shortfalls, without notifying investors of the risk.
Employees claim 401(k) mismanagement led to tens of millions in losses
Participants in the Pitney Bowes retirement plan say administrators failed to ditch low-performing investments in a federal lawsuit.
Investor accuses financial firms of 'spoofing' tech company's stock
Citadel Securities and Virtu Americas are accused of manipulating the share price of the education technology company Genius.
SCOTUS shatters party-candidate spending limits for GOP
The Trump administration had vowed not to enforce coordinated expenditure limits, but a relic of the vice president’s Senate tenure gave Republicans an opportunity to nix the regulation for good.