Try our Advanced Search for more refined results
Banking
-
March 04, 2024
DOJ Worried Binance Founder's Travel May 'Become An Issue'
Binance founder Changpeng Zhao should have to notify the government of any travel as he awaits sentencing, prosecutors have said, telling a federal court in Washington they remain concerned he could be a flight risk.
-
March 04, 2024
NerdWallet, Syracuse Hit With 'Fraudulent' Bankruptcy Cases
Personal finance platform NerdWallet, the city of Syracuse, New York, a Taco Bell franchisee and a financial tech company were targets of apparently phony bankruptcy cases opened in Delaware over the weekend by a frequent pro se litigant.
-
March 04, 2024
States, Scholars Back Ex-NY Official In NRA Free Speech Suit
States, scholars and public officials have urged the U.S. Supreme Court to reject the National Rifle Association's contention that a former New York state official violated the group's First Amendment rights.
-
March 04, 2024
Ind. Man Found Guilty In Houston For Role In $7M Scam
A federal jury in Houston found an Indianapolis man guilty Monday of money laundering and conspiracy to launder money for his role in a $7 million financial scheme that involved a network of individuals who impersonated bank employees.
-
March 04, 2024
8 Banks Targeted In ATM Patent Campaign
A patent-holding company has accused JPMorgan Chase Bank NA and other banks of infringing a pair of patents covering things like ATM circuitry memory.
-
March 04, 2024
JPMorgan's Arbitration Fee Delay Trims Wage Suit
JPMorgan Chase can't push into arbitration a former branch manager's claims not related to her wage and hour ones because it failed to timely pay the arbitration fees, a California federal judge ruled.
-
March 04, 2024
Catching Up With Delaware's Chancery Court
A Swedish music producer's takeover, a proposed award payable in Tesla shares, Truth Social stock squabbles, and an unusually blunt slap-down from the bench added up to an especially colorful week in Delaware's famous court of equity. On top of that came new cases about alleged power struggles, board entrenchment, consumer schemes and merger disputes.
-
March 04, 2024
Former FDIC Counsel Rejoins Cadwalader In NY
A onetime Cadwalader Wickersham & Taft LLP associate is coming back to the firm after serving as the Federal Deposit Insurance Corporation's senior special counsel, the firm said Monday.
-
March 04, 2024
Justices Won't Review Ex-Merrill Lynch Traders' Fraud Case
The U.S. Supreme Court said Monday it will not take up an appeal from two former Merrill Lynch traders who were convicted in Chicago federal court of spoofing the precious metals market.
-
March 04, 2024
Trump's Former Finance Chief Pleads Guilty To Perjury
Allen Weisselberg, the longtime former financial chief of Donald Trump's real estate business empire, admitted Monday to lying under oath in the New York attorney general's civil fraud case as part of a plea deal to serve five months in jail.
-
March 01, 2024
2nd Circ. Won't Revive Ex-Barclays Exec's Whistleblower Suit
The Second Circuit on Friday affirmed a lower court's decision to toss a whistleblower suit from a former Barclays executive, finding that he didn't sufficiently back up his allegations of retaliation under the Sarbanes-Oxley Act.
-
March 01, 2024
Pepsi, Kraft And GE Can't Block DEI, Enviro Proxy Proposals
A division of the U.S. Securities and Exchange Commission has rejected bids from PepsiCo Inc., The Kraft Heinz Co. and General Electric Co. to exclude from their upcoming proxy statements proposals from a conservative think tank on diversity and environmental matters.
-
March 01, 2024
BofA Trims Zelle Fraud Victims' Suit For Good On 3rd Try
A California federal judge has again trimmed a lawsuit accusing Bank of America of refusing to reimburse Zelle fraud victims, narrowing the case to a breach of contract claim and denying the plaintiffs another opportunity to rework their complaint.
-
March 01, 2024
DC Circ. Revives BuzzFeed's Bid For HSBC Laundering Report
The D.C. Circuit handed former BuzzFeed reporter Jason Leopold a win Friday, reviving his fight to unseal a 2015 report on money laundering at HSBC Bank and remanding the Justice Department's earlier district court summary judgment win in the case.
-
March 01, 2024
Judge Doubts Drowsy Juror, Mask Rules Warrant New VC Trial
A California federal judge expressed doubts Friday over claims that self-described "millennial" venture capitalist Michael Rothenberg deserves a new trial because of a drowsy juror and the court's COVID-19 mask rules, saying he disagrees that the juror was asleep and "welcomes" the Ninth Circuit's guidance on courtroom-masking requirements.
-
March 01, 2024
Off The Bench: NCAA Loses On NIL, DC Wins With Stadium
In this week's Off The Bench, a judge unlocked the door to name, image and likeness money for college athletes, Shaquille O'Neal's Hollywood debut still rings true three decades later, and D.C. clears an early legislative hurdle in its bid to bring back its namesake NFL team. If you were on the sidelines over the past week, Law360 is here to clue you in on the biggest sports and betting stories that had our readers talking.
-
March 01, 2024
Colo. Real Estate Brokerage Settles Data Breach Class Claims
A proposed class settled a data breach lawsuit against a Denver-based real estate brokerage and property management company in Colorado federal court.
-
February 29, 2024
Amazon Cuts Deals With Mastercard, Banks In Fee MDL
Amazon told a New York federal court Thursday that it has reached settlement agreements with Mastercard and several banks, after reaching a previous deal with Visa, over allegations that anti-competitive conduct by the card companies and banks caused the online retail giant to overpay for transaction fees.
-
February 29, 2024
Judge Nixes Enforcement Of 'Fabricated' $88M Award
An English judge on Thursday set aside his order enforcing a £70 million ($88.4 million) arbitral award against a Kuwaiti bank after concluding the award was a "fabrication" that included "substantial" passages lifted directly from a 2022 decision issued by the High Court.
-
February 29, 2024
Fed Ends SocGen Money Laundering Compliance Action
The Federal Reserve Board announced Thursday that it has ended an enforcement action against Société Générale SA for alleged deficiencies in the French bank's compliance with anti-money laundering requirements.
-
February 29, 2024
Texas Cash Advance Co. Fees Accused Of Usury In Disguise
Cash advance app FloatMe Corp. has been hit with a proposed class action alleging the company violated Pennsylvania state law by charging fees that amount to unduly high interest rates on its short-term, small-sum loans.
-
February 29, 2024
Two More Cos. Hit With 'In Concert' Delaware Bylaw Suits
The number of class actions targeting companies' boards of directors and allegedly "coercive" bylaw provisions continues to grow, as two new investor suits were filed in Delaware's Court of Chancery against Massachusetts payments software company Flywire Corp. and California subscription software company Zuora Inc.
-
February 29, 2024
House Bill To Undo SEC Crypto Accounting Bulletin Advances
A bipartisan bill that would undo crypto accounting guidance from the U.S. Securities and Exchange Commission advanced out of the House Financial Services Committee on Thursday, despite concerns from some Democrats that it could have a chilling effect on future SEC guidance.
-
February 29, 2024
Wells Fargo Trying To Paper Over Sham Sign-Ups, Suit Says
Wells Fargo was hit Thursday in San Francisco federal court with a class action complaint that alleges the bank surreptitiously enrolled consumers in unwanted account products for years, and is now trying to buy them off on the cheap with murky offers of compensation.
-
February 29, 2024
TransUnion Pegs Potential DOJ Data Unit Settlement At $37M
TransUnion has put a $37 million price tag on a possible settlement of a U.S. Department of Justice investigation into a data and analytics business the credit reporting giant purchased, according to a Thursday regulatory filing.
Expert Analysis
-
SEC Fines Mean Cos. Should Review Anti-Whistleblower Docs
The Securities and Exchange Commission’s expanding focus on violations of whistleblower protection laws — as seen in recent settlements where company contracts forbade workers from reporting securities misconduct — means companies should review their employment and separation agreements for language that may discourage reporting, says Caroline Henry at Maynard Nexsen.
-
Series
ESG Around The World: South Korea
Numerous ESG trends have materialized in South Korea in the past three years, with impacts ranging from greenwashing prevention and carbon neutrality measures to workplace harassment and board diversity initiatives, say Chang Wook Min and Hyun Chan Jung at Jipyong.
-
General Counsel Need Data Literacy To Keep Up With AI
With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.
-
5 Credit Card Practices Drawing CFPB Notice In New Report
The Consumer Financial Protection Bureau's biennial consumer credit report may offer insight into the future of the watchdog's enforcement priorities, particularly when it comes to trends in consumer credit card interest rates and novel products like installment payment plans, among other practices, says Rich Zukowsky at Davis Wright.
-
A Tale Of 2 SVB Reports: Where The Fed's Barr And OIG Differ
Some have said the recent report on Silicon Valley Bank's failure prepared by the Federal Reserve Board's Office of Inspector General is nearly identical to one conducted by Vice Chair for Supervision Michael Barr earlier in the year, but in reality, the OIG report is far more critical and less forgiving of the Fed supervisory staff, say attorneys at Davis Polk.
-
AI Isn't The Wild West, So Prepare Now For Bias Risks
In addition to President Joe Biden's recent historic executive order on safe, secure and trustworthy artificial intelligence, there are existing federal and state laws prohibiting fraud, defamation and even discrimination, so companies considering using or developing AI should take steps to minimize legal and business risks, says civil rights attorney Farhana Khera.
-
Retailers: Beware Legislator And Regulator Junk Fee Focus
In light of the Biden administration’s recent focus on restricting so-called junk fee surcharges across industries, attorneys at Benesch discuss what retailers should know about several evolving developments, including a new California law, a proposed Federal Trade Commission rule, an expanding litigation landscape, and more.
-
Navigating Discovery Of Generative AI Information
As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.
-
FDIC Chair Highlights Risks Of Nonbank Financial Institutions
Federal Deposit Insurance Corporation Chairman Martin Gruenberg recently implied that more effort is required to adequately address the risks presented by nonbank financial institutions, suggesting the need for a more tailored, contextualized approach, rather than binary, all-on or all-off regulation, says Daniel Meade at Cadwalader.
-
Finding Focus: Strategies For Attorneys With ADHD
Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.
-
A Look At DOJ's New Nationwide Investment Fraud Approach
Investment fraud charges are increasingly being brought in unlikely venues across the country, and the rationale behind the U.S. Department of Justice's approach could well be the heightened legal standards in connection with prosecuting investment fraud, says Jonathan Porter at Husch Blackwell.
-
Keeping Tabs On Fight Over Board Diversity Rule At 5th Circ.
Attorneys at Mintz dissect why the Fifth Circuit rejected a constitutional challenge to Nasdaq’s new requirement that listed companies disclose board diversity data, assess how a petition calling the decision pro-discrimination may fare, and discuss where companies that have yet to meet the exchange's diversity goals go next.
-
What To Expect From California's Digital Assets Regime
California’s recent passage of two new laws that create a broad licensing, oversight and enforcement framework for the virtual currency arena will likely affect most digital asset companies doing business in the U.S. when it goes into effect in January 2025, say attorneys at Jenner & Block.
-
AI's Baked-In Bias: What To Watch Out For
The federal AI executive order is a direct acknowledgment of the perils of inherent bias in artificial intelligence systems, and highlights the need for legal professionals to thoroughly vet AI systems, including data and sources, algorithms and AI training methods, and more, say Jonathan Hummel and Jonathan Talcott at Ballard Spahr.
-
Why SEC Is Worried AI Could Lead To Recession, Racial Bias
U.S. Securities Exchange Commission Chair Gary Gensler recently indicated he believes the agency should have a seat at the artificial intelligence regulatory table, which he said, if left unchecked, could lead to systemic racial bias, IP issues and even a recession, says Nancy Wojtas at Cooley.