Rakoff Tells Investors Big Banks Were Tricolor Fraud Victims

By Sydney Price ( July 17, 2026, 7:40 PM EDT) -- U.S. District Judge Jed S. Rakoff has entered an opinion explaining why he tossed an investor suit last month accusing JPMorgan, Barclays and Fifth Third of facilitating a fraudulent scheme by bankrupt subprime auto lender Tricolor Holdings, saying the suit does not establish the banks' motivations....

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