Banking

  • October 20, 2021

    SEC's Lee Pushes For 'Global Solution' To Climate Disclosure

    The U.S. Securities and Exchange Commission's Allison Herren Lee on Wednesday pushed for a "global solution" to standardize the way companies report sustainability-related risks, as the agency works to "swiftly" propose its own new rules for registered firms by the end of the year. 

  • October 20, 2021

    CFPB Says Consumers Must Know Risks As Libor Nears End

    The Consumer Financial Protection Bureau urged financial institutions on Wednesday to make sure their disclosures around the imminent end of Libor help consumers understand how their interest rates will be calculated in the future.

  • October 20, 2021

    Wind Farm Can't Take $71M Winter Storm Suit To State Court

    A Texas wind farm that was forced to stop production during the state's deadly winter storm in February can't litigate a $71 million bill from JP Morgan Chase into state court, a federal judge said Wednesday.

  • October 20, 2021

    Kirkland & Ellis Litigator Jumps To Jones Day

    Trial attorney Bridget O'Connor, who has represented several high-profile clients in nationally publicized disputes, has left Kirkland & Ellis to join Jones Day as a partner.

  • October 20, 2021

    ND's DAPL Protest Suit Survives Feds' Bid To Gut Claims

    A North Dakota federal judge has rejected a bid to slash the state's suit seeking $38 million from the federal government for allegedly failing to control demonstrations against the Dakota Access Pipeline, saying the state clearly can try to recoup its costs to deal with the protests under the Federal Tort Claims Act.

  • October 20, 2021

    Ex-SEC Director To Advise Digital-Asset Securities Biz

    After a brief stint at Coinbase, former U.S. Securities and Exchange Commission official Brett Redfearn has jumped to digital-asset securities company Securitize Inc., where he will serve as chairman of the advisory board, Securitize said Wednesday.

  • October 20, 2021

    Canada's Coinberry Taps Ex-JPM CCO To Head Compliance

    A former JPMorgan & Chase compliance officer has joined the Canadian crypto-only trading platform Coinberry Ltd. as its new chief compliance officer.

  • October 20, 2021

    V&E Steers Bitcoin Miner's Upsized $127M IPO

    Alternative energy bitcoin miner Stronghold Digital Mining Inc. soared in debut trading Wednesday after it raised $127 million in an initial public offering that priced above range, guided by Vinson & Elkins LLP and underwriters counsel Nelson Mullins Riley & Scarborough LLP

  • October 20, 2021

    Puerto Rico Fiscal Plan Under Fire As Hearing Approaches

    Bondholders, bond underwriters, teachers and credit unions are among those who have registered their objections to Puerto Rico's proposed restructuring of the island's debt as the plan heads toward its confirmation hearing in three weeks.

  • October 20, 2021

    Extra £900M In Lehman Bros. Estate Won't Be Paid Equally

    An appeals court has dashed the hopes of some creditors fighting for £900 million ($1.2 billion) left in the estate of Lehman Brothers, ruling on Wednesday that certain claims for compensation by separate affiliates took priority over other creditors.

  • October 19, 2021

    CFPB's 1st Case Under Chopra Hits Prison Prepaid Card Co.

    The Consumer Financial Protection Bureau said Tuesday that a leading private-equity-backed provider of financial services to prisons must pay a $2 million fine and refund $4 million in restitution as part of the first enforcement action brought by the agency since Rohit Chopra took over as its director.

  • October 19, 2021

    11th Circ. Won't Disturb Regions Bank Check Kiting Rulings

    The Eleventh Circuit on Tuesday affirmed a Florida federal court's decisions that cleared an investor in a $64 million Ponzi scheme from Regions Bank's claim that he knowingly kited checks to cover up the fraud but also left him on the hook for $6 million in overdraft fees.

  • October 19, 2021

    Regulators Urged To Tighten Guidance On Bank Partnerships

    Consumer advocates and Democratic state attorneys general are urging federal banking regulators to more explicitly frown upon so-called rent-a-bank arrangements in risk management guidance that has been proposed for financial institutions partnering with fintech firms and other third-party providers.

  • October 19, 2021

    Credit Suisse To Pay $475M Over Mozambique Bribe Scandal

    A Credit Suisse unit pled guilty to wire fraud Tuesday and will pay $475 million to U.S. and U.K. authorities for its role in a $2 billion corruption scandal in Mozambique to settle a long-running probe into tainted bonds for development projects.

  • October 19, 2021

    Dems Float Raising IRS Bank Reporting Threshold To $10K

    Bowing to pressure from Republican lawmakers and business advocates, congressional Democrats on Tuesday loosened their proposal to require banks to file annual tax information returns with customer account data, raising the reporting threshold to transactions valued at more than $10,000.

  • October 19, 2021

    Gilstrap Drops Out Of Debit Card IP Case Against Cigna

    U.S. District Judge Rodney Gilstrap on Tuesday reassigned a patent-holding company's case against Cigna over debit card technology to a different Eastern District of Texas judge, hours after the company raised concerns that a decision in the case relied on a claim construction ruling Gilstrap secured for a client in 2005 during his time as a patent litigator.

  • October 19, 2021

    BofA Cardholders Eye Class Cert. In ATM Fee Row

    Bank of America cardholders are urging a California federal judge to let them move forward as two certified classes in a suit against the bank and several ATM companies over out-of-network fees.

  • October 19, 2021

    2nd Circ. Tosses Ex-Lehman Execs' $300M Retirement Suit

    The Second Circuit Court of Appeals upheld two lower court rulings Tuesday in the long-running liquidation of Lehman Bros. Inc., saying $300 million of deferred compensation plans for retired executives were rightly treated as unsecured claims against the defunct trading house.

  • October 19, 2021

    Chilean Co. Gets Approval For Ch. 11 Bank Stock Rights Sales

    Corp Group Banking received court approval in Delaware on Tuesday for its plan to sell or transfer subscription rights for new shares in a Chilean bank after coming to an agreement with Deutsche Bank Trust Co. over the disposition of the subscription rights on which it has liens.

  • October 19, 2021

    Baker Donelson Adds Volvo Unit GC In Flurry Of Oct. Hires

    Baker Donelson Bearman Caldwell & Berkowitz PC announced on Tuesday that the former general counsel for Volvo Financial Services USA is joining the firm as a shareholder in the financial services transactions group and its specialty finance team.

  • October 19, 2021

    Fintech Co. Pismo Grabs $108M In Series B

    Pismo, a cloud-native digital banking platform based in Brazil, announced on Tuesday that it raised $108 million in a funding round led by SoftBank, Accel and Amazon.

  • October 18, 2021

    O'Melveny Snags Top Entertainment Atty From Manatt Phelps

    O'Melveny & Myers LLP has added one of the entertainment industry's most preeminent deal-makers to its Century City, California, office, bringing aboard the former leader of the entertainment group at Manatt Phelps & Phillips LLP, the firm announced Monday.

  • October 18, 2021

    SEC Says 'Game-Like' Trading Apps Need More Examination

    "Game-like" features on stock-trading apps could lead investors to trade more than they would have otherwise and need to be further examined, the U.S. Securities and Exchange Commission said in a report unveiled Monday on the GameStop trading frenzy.

  • October 18, 2021

    ProShares To Launch US's First Bitcoin Futures ETF

    ProShares said Monday it will debut the U.S.'s first exchange-traded fund focused on bitcoin futures, marking another step toward bringing cryptocurrency-related products into the traditional financial sphere.

  • October 18, 2021

    Bank Of America Shuts Down Pot Researcher's Account

    A cannabis researcher who is waging a legal battle to reschedule marijuana in the federal circuit courts said that Bank of America decided to deactivate her institute's bank account without explanation or recourse.

Expert Analysis

  • ESG Disclosure Mandate Faces Hurdles Regardless Of Path

    Author Photo

    While the U.S. Senate is unlikely to sign onto the Corporate Governance Improvement and Investor Protection Act, which would require companies to make more comprehensive environmental, social and governance disclosures, the U.S. Securities and Exchange Commission may attempt ESG disclosure rulemaking without congressional approval — but it won't be easy, say attorneys at King & Spalding.

  • Financial Planning Tips For Retiring Law Firm Partners

    Author Photo

    As the pandemic accelerates retirement plans for many, Michael Delgass at Wealthspire Advisors outlines some financial considerations unique to law firm partners, including the need for adequate liquidity whether they have capital accounts or pension plans.

  • What FTC's 'Penalty Offense Notices' Mean For Companies

    Author Photo

    In recent weeks, the Federal Trade Commission has resurrected a long-dormant enforcement power by sending hundreds of companies notices of marketing-related offenses — and while the agency may face practical challenges in executing penalties, companies should proceed carefully, say attorneys at Manatt.

  • Preparing Remote Deposition Defenses For Corporate Entities

    Author Photo

    As remote depositions will remain common for the foreseeable future, attorneys defending a deposition notice or subpoena to a corporation should implement certain strategies to mitigate unique challenges, such as less planning time and increased difficulty of establishing rapport with witnesses, say attorneys at Sidley.

  • DOL's Proposed Rule Doesn't Make ESG Investment Risk-Free

    Author Photo

    A proposed U.S. Department of Labor rule aimed at Employee Retirement Income Security Act fiduciaries who take climate change into account should not be viewed as a green investment free pass, as prudent investors must consider the potential for bad returns if climate mitigation efforts fail, says J.B. Heaton at One Hat Research.

  • Cannabis M&A: How To Prepare For Regulatory Due Diligence

    Author Photo

    Cannabis-related businesses that are being acquired or receiving investments or loans should facilitate a robust due diligence process — including keeping records of licenses, regulatory correspondence and standard operating procedures — to insulate themselves from, and ensure other parties are well aware of, regulatory risks, say attorneys at Saul Ewing.

  • FTC's New Approach Creates Challenges For M&A Deals

    Author Photo

    The Federal Trade Commission's recently announced shift in how it will review proposed mergers and acquisitions is part of a broader trend toward increased, social policy-oriented antitrust enforcement, so parties should prepare for longer, more expansive FTC reviews and greater regulatory risks, say attorneys at Fried Frank.

  • Perspectives

    Why Law Schools Should Require Justice Reform Curriculum

    Author Photo

    Criminal defense attorney Donna Mulvihill Fehrmann argues that law schools have an obligation to address widespread racial and economic disparities in the U.S. legal system by mandating first-year coursework on criminal justice reform that educates on prosecutorial misconduct, wrongful convictions, defense 101 and more.

  • Pandora Papers Reveal Need For Greater Tax Enforcement

    Author Photo

    The recent Pandora Papers leak is a reminder of the importance of transparency laws and proper funding for enforcement efforts against tax evasion as bad actors increasingly operate in the shadows, says Daren Firestone and Kevin Crenny at Levy Firestone.

  • Girardi Scandal Provides Important Ethics Lessons

    Author Photo

    The litigation and media maelstrom following allegations that famed plaintiffs attorney Thomas Girardi and his law firm misappropriated clients' funds provides myriad ethics and professional responsibility lessons for practitioners, especially with regard to misconduct reporting and liability insurance, says Elizabeth Tuttle Newman at Frankfurt Kurnit.

  • Takeaways From CFPB's Fair Debt Collection Rule Changes

    Author Photo

    James Sandy at McGlinchey Stafford examines the Consumer Financial Protection Bureau's upcoming amendments to the Fair Debt Collection Practices Act, and offers compliance considerations for debt collectors with respect to new communications methods and safe harbor provisions.

  • Series

    Embracing ESG: Jabil GC Talks Compliance Preparation

    Author Photo

    Tried-and-true compliance lessons from recent decades can be applied to companies’ environmental, social and governance efforts, especially with regard to employee training and consistent application of policies — two factors that can create a foundation for ESG criteria to flourish, says Robert Katz at Jabil.

  • 3 Ways CLOs Can Drive ESG Efforts

    Author Photo

    Chief legal officers are specially trained to see the legal industry's flaws, and they can leverage that perspective to push their companies toward effective environmental, social and governance engagement, says Mark Chandler at Stanford Law School.

  • 10 Years On, SEC's Market Access Rule Still Lacks Clarity

    Author Photo

    The U.S Securities and Exchange Commission adopted the market access rule to address the risks of algorithmic trading, but its failure over the past 10 years to articulate clear standards except through costly enforcement actions has left firms with an informal patchwork of guidance and moving targets for broker-dealers, say Ashley Bashur and Paul Eckert at WilmerHale.

  • How Law Firms Can Rethink Offices In A Post-Pandemic World

    Author Photo

    Based on their own firm's experiences, Kami Quinn and Adam Farra at Gilbert discuss strategies and unique legal industry considerations for law firms planning hybrid models of remote and in-office work in a post-COVID marketplace.

Want to publish in Law360?


Submit an idea
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!