S&P Global Market Intelligence rounds up a selection of recent legal and regulatory developments in the bank space.
* Plaintiff files for dismissal of First West Virginia/CB Financial deal complaint
Paul Parshall, a purported shareholder, filed for a notice of voluntary dismissal of his complaint against First West Virginia Bancorp Inc.'s deal with CB Financial Services Inc., which closed April 30.
* Judge to grant final approval to Wells' $142M fake-accounts suit settlement
San Francisco District Judge Vince Chhabria agreed to issue an order granting final approval to Wells Fargo & Co.'s proposed $142 million settlement for a class-action lawsuit related to the unauthorized opening of customer accounts, Bloomberg News reported. However, final approval of the settlement is expected to be delayed until at least June 4.
* 4 Pa. banks record credit losses due to alleged fraud in participation loan
Fulton Financial Corp., Univest Corp. of Pennsylvania and Franklin Financial Services Corp. each announced they would record provision expenses in the second quarter on a participation loan following allegations of fraud at the borrower.
* ANZ faces criminal charges over alleged cartel conduct
Australia & New Zealand Banking Group Ltd. faces criminal charges over "alleged cartel conduct" in relation to a 2015 share issuance, while two of the issue's underwriters, Deutsche Bank AG and Citigroup Inc., are also expected to face the same charges.
