California’s attorney general announced a lawsuit Friday against Sutter Health, alleging the hospital giant engaged in anticompetitive conduct that drove up prices for patients and employers in the state.
The lawsuit marked a bold move by state Attorney General Xavier Becerra against the dominant health care system in Northern California as concerns mount nationally about consolidation among hospitals, insurers and other industry middlemen.
“It’s time to hold health care corporations accountable,” Becerra said at a news conference Friday. “We seek to stop Sutter from...
HSBC Holdings Plc has agreed to pay $100 million to end private U.S. litigation accusing it of conspiring to manipulate the Libor benchmark interest rate, becoming the fourth major bank to settle.
The preliminary accord with "over-the-counter" investors that transacted directly with banks on a panel to determine Libor, or the London Interbank Offered Rate, was disclosed in filings on Thursday with the U.S. District Court in Manhattan.
Court approval is required.
Settlements with the OTC investors total $590 million so far, and include $120 million with Barclays Plc, $...
Per a Reuters article, Wells Fargo & Company’s WFC plea to fully dismiss a lawsuit which accused it of practicing discriminatory mortgage lending practices was dismissed by the U.S. District Judge Gary Feinerman.
In December 2014, Illinois' Cook County had filed a lawsuit against the bank alleging it of targeting minority borrowers in the Chicago area and violating the Fair Housing Act (FHA). Wells Fargo was charged of making them borrow loans that were too costly for them, which resulted in higher fees, frequent defaults and foreclosures. Also, the bank w...
UBS AG has reached a $230 million settlement to resolve charges brought by New York state that it misled and hurt investors by selling subprime mortgage securities that contributed to the 2008 global financial crisis.
New York Attorney General Eric Schneiderman on Wednesday said the Swiss bank will pay $41 million in cash to the state, and provide $189 million of relief to homeowners and communities.
The bank is the seventh to settle similar claims by New York, resulting in roughly $3.93 billion of settlements.
JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc,...
Since early summer, ACEP has been working hard on behalf of its members to protect the prudent layperson standard by advocating for the reversal of a dangerous new policy being enforced by the insurer Anthem BlueCross BlueShield in six states.
First implemented in July in Georgia, Kentucky, and Missouri, and most recently expanded at the start of this year to Indiana, New Hampshire, and Ohio, the policy allows Anthem to retroactively deny coverage of emergency department visits that the insurer deems as “nonemergent.” Anthem uses a list of so-called nonemergent ICD-...
Cigna is one of the country's largest health insurers, and Express Scripts is one of America's biggest pharmacy benefits managers, which administer drug plans for more than 266 million Americans with employer and government health insurance.
If the deal clears regulators, it would be the latest merger to disrupt the health care industry, which has been under heavy pressure in recent years as the federal government, employers and others attempt to control soaring health care costs. Drug prices, in particular, are a target, and pharmacy benefits managers are key playe...
The former CEO of a payday lender sent in an email with her application to be the next director of the Consumer Financial Protection Bureau.
And while the former CEO of a payday lender may seem like the least qualified fit to lead the CFPB, the situation gets worse. As it turns out, her former company, World Acceptance, was investigated by the CFPB under former director Richard Cordray.
And while the investigation was completed without enforcement action, again, it may not be the best reference point for a CFPB director candidate.
The nation's largest health insurer, UnitedHealth Group, is following rival Anthem's footsteps with a new payment policy aimed at reducing its emergency department claims costs.
Under the policy, rolled out nationwide March 1, UnitedHealth is reviewing and adjusting facility claims for the most severe and costly ED visits for patients enrolled in the company's commercial and Medicare Advantage plans.
Hospitals that submit facility claims for ED visits with Level 4 or Level 5 evaluation and management codes—codes used for patients with complex, resource-intensive...
Just when it seems like Wells Fargo's troubles are behind it, another mole pops up from the whack-a-mole machine.
The bank's wealth advisory business is now in focus. According to The Wall Street Journal, citing people familiar with the matter, whistleblowers in the division, called Wells Fargo Advisors, flagged problems related to product and service sales made "with an eye toward earning more compensation than finding the best fit for the customer."
The wealth advisory division was once led by Mary Mack, the executive chosen in 2016 to clean up sales practices in t...