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Ex-Wells Fargo Executive Tolstedt to Pay $3 Million SEC Penalty

Wells Fargo & Co.’s former head of retail banking, Carrie Tolstedt, agreed to pay $3 million to settle a Securities and Exchange Commission case over misleading investors about a key measure of the lender’s success.

By Austin Weinstein

Sabre Creditors Irked by Centerbridge Deal Hire Paul Hastings

Lenders to Sabre Corp. have hired law firm Paul Hastingsto explore their options after the company announced a fresh loan that the creditors say pushes them down the repayment line.

KPMG, Credit Suisse Leaders Sued for ‘Reckless’ Bank Management

KPMG LLP allegedly helped Credit Suisse Group AG‘s directors and officers “recklessly” mismanage and “plunder” the bank for more than a decade before its collapse in March, according to a new complaint.

SEC Queries Private Equity Firms That Yanked Cash as SVB Failed

A top US financial regulator is inquiring about how private equity firms steered deposits, including client funds, out of Silicon Valley Bank before its collapse.

Swaps Panel to Say If Casino Debt Talks Triggered CDS Payout

A panel that rules on credit default swaps will decide whether a move by Casino Guichard Perrachon SA to start court-supervised talks with its creditors constituted a bankruptcy event that would trigger a payout to holders of the French grocer’s CDS.

US Derivatives Regulator Warns Clearing Firms About Crypto Risks

The US Commodity Futures Trading Commissionis warning firms that they will face more scrutiny if they provide clearing services for digital-asset transactions.

German Cum-Ex Mastermind Sentenced to Eight Years in Prison

Hanno Berger, a German lawyer dubbed the “mastermind” of Cum-Ex, received a second conviction for his part in a tax scandal that’s robbed billions of euros from government coffers and embroiled some of Wall Street’s biggest names.

Debt-Limit Deal Faces Final Test in Congress to Avert US Default

The debt-limit agreement forged by President Joe Biden and House Speaker Kevin McCarthy heads into a crucial final stretch with less than a week to win congressional passage before a June 5 default deadline.

Binance Explores Letting Some Traders Keep Collateral at a Bank

Binance is discussing a proposal to let some of its institutional clients keep their trading collateral at a bank instead of with the crypto platform, a step that could help reduce counterparty risk.

Goldman-Led Banks Risk Hung Debt as MoneyGram Buyout Nears Close

A group of banks led by Goldman Sachs Group Inc. is running out of time to sell $900 million of debt supporting the buyout of MoneyGram International Inc. before the deal closes this week.