NEWS
Wed Jun 5, 2013 03:43 PM CDT

WASHINGTON (Dow Jones) -- U.S. regulators on Wednesday sued a unit of U.S. Bancorp for allegedly failing to protect customer funds embezzled by the jailed founder of Peregrine Financial Group Inc., the collapsed futures brokerage.

The complaint comes 11 months after Peregrine's demise shook the futures market, with the trustee liquidating the firm still weighing potential claims against U.S. Bancorp and J.P. Morgan Chase & Co.

The charges filed Wednesday by the Commodity Futures Trading Commission against U.S. Bancorp's U.S. Bank unit revolve around its oversight of bank accounts used by Peregrine founder and Chief Executive Russ Wasendorf Sr. to ...

Quick View
  • Crop Tech Corner Researchers have developed GE wheat that yields far better under hot conditions, a wheat gene is ...
  • The Attraction of Youth Combine genotyping with a yearling bull, or even a weanling, and you're less likely to make a poo...
  • Kubota Steps Up A new mid-range, high-horsepower M7 tractor moves this company into the row-crop arena.
  • Fines for Fringe Benefits A little-noticed rule in the Affordable Care Act could impose huge penalties on small business. I...
  • Clean Water Goes a Long Way Cleaning up 900 feet of a small creek in Kentucky brings rebirth to water once choked with sedime...
  • Beef Checkoff Effort Resumes Members of the eight organizations comprising the Beef Checkoff Enhancement Working Group were se...
  • Ag and Environment Outlook Agriculture continues to watch how the U.S. Environmental Protection Agency implements the propos...
  • Surgery on Plastics Dharma Kodali's goal is to insert soybean oil in the basic ingredient list for PVC plastics.
  • Ask the Vet How should I treat a cow with a swelling on her flank?
Related News Stories
Truck Drivers in Short Supply
Ag and Environment Outlook
Senate Passes Tax Extenders
Enviro Agenda Challenged