Op risk data: Robinhood to cough up $70m over meme stock failings
Also: Deutsche Bank’s wine corked after €10m FX swaps settlement. Data by ORX News
In June’s largest operational risk loss, Deutsche Bank provisioned €100 million ($122 million) to compensate customers after Germany’s high court ruled that past increases in current account fees at its retail Postbank subsidiary were unlawful.
For many years, German banks relied on tacit approval from their customers when raising account fees or changing terms and conditions. However, a consumer rights group challenged this and brought a case against Postbank.
The German Federal Court of Justice
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