Thursday, February 5, 2015

Federal Court Orders U.S. Bank to Pay $18 Million to Peregrine Financial Group, Inc

The order arises from a complaint originally filed on June 5, 2013 charging U.S. Bank with treating the Peregrine Financial Group's segregated funds account like a regular business checking account. In other words, the Bank was withdrawing funding for non-customer purposes. To read more about this order and its background, click here.