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Bank of America settles Epstein accusers’ lawsuit
Bank of America has reached a settlement in a civil lawsuit filed by a woman who accused the bank of facilitating her sexual abuse by Jeffrey Epstein. The lawsuit claimed that the bank ignored suspicious transactions related to Epstein, prioritizing profit over victim protection. U.S. District Judge Jed Rakoff previously ruled that the bank must…
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Proxy advisers warn Starbucks over risks from ongoing labor disputes
Starbucks is facing warnings from proxy advisory firms regarding potential financial and reputational risks linked to ongoing labor disputes with its U.S. union. Contract talks have stalled for over a year, but recent discussions are set to resume following a new proposal from the union. Analysts from Institutional Shareholder Services (ISS) raised concerns about the…
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Geopolitical risk analysis demand surges amid U.S.-Iran tensions
Reuters reports on a ?growing industry of ex-military and national security advisors who are helping Wall Street firms identify imminent military action. Around 6 p.m. ET on the day before U.S.-Israeli air strikes killed Iran’s Supreme Leader on Saturday February 28, for example, geopolitical risk consultancy WestExec Advisors advised clients that there was a 65%…
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Trump to invoke emergency law for California oil producer Sable
President Trump plans to invoke Cold War-era emergency powers for ?Sable Offshore as it looks to restart ?production from a cluster of offshore platforms off the southern Californian coast. Trump is preparing ?to summon authorities under the Defense Production ?Act to preempt state laws and ease permitting ?for the California oil producer. The planned order…
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Major U.S. banks consider lawsuit over crypto licensing rules
Some of the largest U.S. banks are considering legal action against the Office of the Comptroller of the Currency (OCC) over new rules that make it easier for crypto, fintech, and payment firms to obtain national bank trust charters. The Bank Policy Institute (BPI), which represents lenders including JPMorgan, Goldman Sachs, and Citigroup, argues that…
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Judge dismisses terror liability lawsuit against Binance
A U.S. federal judge has dismissed a lawsuit against cryptocurrency exchange Binance and its founder Changpeng Zhao which accused them of being liable for facilitating terrorist attacks around the world. U.S. District Judge Jeannette Vargas in Manhattan said ?the 535 plaintiffs, including victims and relatives of victims, did not plausibly allege ?that the defendants “culpably…
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