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In September 2002, Bank One Corporation sued PayPal for allegedly infringing its cardless payment system patents. [255] The following year, PayPal countersued, claiming that Bank One's online bill-payment system was an infringement against PayPal's online bill-payment patent, issued in 1998. [256]
The First Banc Group, Inc. was formed in 1968 as a holding company for City National Bank and was used as a vehicle to acquire other banks. As Ohio began to gradually relax its very restrictive Great Depression era banking laws that had severely restricted bank branching and ownership, City National Bank, through its First Banc Group parent, started to purchase banks outside of its home county.
Though the bank doesn’t admit to wrongdoing, they did settle on the $2.6 million amount, with claimants receiving between $35 and $140 depending on how many people file by the deadline at this ...
In April 2013, the three law firms appointed to lead the plaintiffs in this case asked for $720 million in fees. If approved this would be one of the largest awards of legal fees in American history. They argued that such high fees were reasonable given the amount of the settlement and the risks and complexity of the case.
PayPal is a hugely popular option for transferring funds, but the legal status of digital payment systems continues to be contentious. As reported by the Wall Street Journal, PayPal is suing the ...
The lawsuit charged that more than $360 million in losses associated with Zelle-related fraud hit 420,000 Chase customers; some 210,000 Bank of America customers complained that they lost $290 ...
TD Bank filed a lawsuit against Plaid in 2020 accusing the company of trying to "dupe" its users. [27] In 2021, Plaid settled a $58 million class action lawsuit over claims that it passed on personal banking data to third party firms without user consent. The settlement encompasses five separate lawsuits combined as one.
A U.S. judge on Wednesday dismissed a Puerto Rican bank's lawsuit challenging the Federal Reserve Bank of New York's decision to cut off its access to the U.S. central banking system in a ...