Banking

  • July 24, 2026

    Kalshi Wants NY Sports Wagers Shielded As Deadline Nears

    Kalshi is asking the Second Circuit for an emergency order to safeguard its sports-related contracts from New York regulators, which have promised to hold off on any enforcement actions against the company only through July 30.

  • July 24, 2026

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen financial advice firm Smith Square Partners sue ailing social housing company Home REIT, Pogust Goodhead hit with a contract claim by one of its investors, and Entain faced with its latest claim in expanding litigation linked to alleged bribery at its former Turkish business. Here, Law360 looks at these and other new claims in the U.K.

  • July 23, 2026

    BitMEX Users Say Exchange Rigged Liquidations For Profit

    BitMEX, one of the world's largest cryptocurrency exchanges, deliberately designed its system to create unfavorable conditions for customers and then seize their bitcoin, liquidating their accounts when they lost a certain amount, according to a proposed class action filed on Thursday in New York federal court.

  • July 23, 2026

    Trump CFPB Pick Says He Has 'Open Mind' On Staffing Levels

    President Donald Trump's choice for Consumer Financial Protection Bureau director signaled at his confirmation hearing on Thursday that he could revisit the agency's plan to shed hundreds of staff, saying he has an "open mind" about how many workers the agency needs.

  • July 23, 2026

    OCC Denies Wise Trust Charter Over Compliance Gaps

    The Office of the Comptroller of the Currency shared Thursday it has denied a national trust bank application from Wise US Inc. over concerns the money transfer fintech wouldn't meet compliance and anti-money laundering standards.

  • July 23, 2026

    10th Circ. Won't Undo Crypto Firm Founder's 5-Year Sentence

    The Tenth Circuit refused to alter a cryptocurrency investment firm co-founder's five-year prison sentence and obligation to pay over $174,000 in restitution to victims of a fraud scheme he orchestrated, writing the district court's sentencing and loss amount estimation was reasonable.

  • July 23, 2026

    8th Circ. Says Vendor Didn't Show Major Harm In Bank IP Fight

    The Eighth Circuit on Thursday upheld a Missouri federal judge's refusal to block Commerce Bank from using software that a vendor alleges was developed with its trade secrets, ruling the vendor failed to show it was likely to suffer harm that could not be remedied later.

  • July 23, 2026

    Qatar Bank Wins Enforcement Of $1B South Sudan Award

    A D.C. federal judge has enforced a $1 billion arbitral award that found South Sudan defaulted on a $700 million loan agreement from its civil war era, saying the Bank of South Sudan's "vague" allegations of corruption underlying the deal fell short.

  • July 23, 2026

    Elavon, Paychex Hit With Suit Over 'Junk' Fees

    Two payment services providers systematically charged North Carolina businesses "junk" fees totaling almost $100 every month, according to a new proposed class action.

  • July 23, 2026

    British Bank Revolut Hits $115B Valuation, Plus More Rumors

    British digital bank Revolut's valuation soared to $115 billion, private equity giant BlackRock leads an at least $12 billion debt sale for Meta's new data center project, and Liverpool FC is in talks with investor Amit Bhatia over a potential stake sale that could value the club at $6 billion.

  • July 23, 2026

    Conn. Banking Dept. Says Debt Servicer Lacks Key Atty Ties

    An Illinois servicing company that says it provides administrative services to debt relief lawyers cannot avoid Connecticut Department of Banking enforcement efforts because it does not appear to be connected to licensed in-state attorneys, the department has said, urging a state judge to dismiss a challenge to its authority.

  • July 23, 2026

    Crowell & Moring Adds Former UBS Bank USA GC

    Crowell & Moring LLP hired a former general counsel for UBS Bank USA this week to advise banks, fintechs and digital assets companies on regulatory matters.

  • July 23, 2026

    Orrick Adds Financial Services Partner From Cooley In DC

    Orrick Herrington & Sutcliffe LLP has hired a former Cooley LLP partner with years of experience advising clients like emerging financial institutions, retailers and others on financial services regulations, the firm announced Thursday.

  • July 23, 2026

    Mass. Finance Co. Owner To Cop To $11M Ponzi Scheme

    The owner of a small finance company in western Massachusetts will plead guilty to running what the government says was an $11 million Ponzi scheme that defrauded more than 200 investors, the U.S. attorney's office said.

  • July 23, 2026

    $1.26M Cannabis Retail Dispute Headed To Mediation

    The cannabis companies behind the Stiiizy brand have agreed to take into mediation a $1.26 million dispute with a San Diego-based retailer, with a Los Angeles County judge ordering a pause in the pending litigation.

  • July 22, 2026

    JPMorgan's Kinexys Infringes Blockchain Co.'s IP, Suit Says

    JPMorgan Chase's blockchain business unit Kinexys, which is built on Ethereum Virtual Machine technology and processes billions of dollars worth of tokenized asset transactions every day, is infringing a Texas company's patented technology covering authentication performances, according to a suit filed Wednesday in the Eastern District of Texas. 

  • July 22, 2026

    House Republicans Urge Fed To Speed Up Bank M&A Reviews

    Republicans on the House Financial Services Committee are calling on the Federal Reserve to explore what else can be done to speed up its bank merger reviews, urging it to look into clearing long-delayed applications and allowing more approvals without a board vote.

  • July 22, 2026

    Russia Cites Arbitrator Removal In Bid To Pause $1.1B Suit

    Russia is urging a D.C. federal court to pause litigation filed by one of Ukraine's largest banks to enforce a $1.1 billion arbitral award, pointing to a French court decision questioning the impartiality of one of the arbitrators who co-authored an amicus brief critical of the Kremlin.

  • July 22, 2026

    Sen. Warren Urges Watchdog Probe Of CFTC Staff Cuts

    U.S. Sen. Elizabeth Warren, D-Mass., on Wednesday urged the Government Accountability Office to investigate the impact of staffing cuts at the Commodity Futures Trading Commission, saying the reductions come as the CFTC faces increased responsibilities in overseeing prediction markets and implementing cryptocurrency market legislation.

  • July 22, 2026

    GOP Sens. Unveil Crypto Bill With New Gov't Ethics Provision

    U.S. Senate Republicans released an updated draft of a bill to regulate digital asset markets Wednesday that includes an ethics provision limiting President Donald Trump's and other officials' involvement with crypto, but a coalition of Democrats said the text "falls short" on several issues.

  • July 22, 2026

    Senior SEC Enforcer To Exit Agency After 16-Year Career

    A former acting enforcement head at the U.S. Securities and Exchange Commission will depart at the end of July after a 16-year career with the agency.

  • July 22, 2026

    NY Stablecoin Rule Update Advances Amid Genius Act Rollout

    New York's Department of Financial Services moved Wednesday to formally propose rules that would align its existing stablecoin oversight framework with federal standards, advancing a fresh draft following a so-called preproposal version released last month.

  • July 22, 2026

    Fannie Mae Drops $28M Suit Over Senior Living Loans Default

    Fannie Mae has voluntarily dropped the remaining claims in its lawsuit accusing borrower Affinity Living Communities of defaulting on $28.3 million worth of loans from the government-backed lender, telling the court the appointed receivership had achieved its purpose.

  • July 22, 2026

    Huawei Loses Bid To Block Laptop Evidence In NY RICO Case

    A New York federal judge has refused to grant a motion to suppress four laptops and two recordings involving Huawei employees that the government obtained during its lengthy investigation of the Chinese telecommunications company.

  • July 22, 2026

    Feds Ask Wash. Judge To Back Canadian's $700K FBAR Fines

    A Canadian man living in the United States should remain on the hook for more than $700,000 in penalties for failing to report foreign bank accounts, the U.S. government told a Washington federal court, arguing he willfully disregarded disclosure requirements.

Expert Analysis

  • FDIC Proposals Mark Pullback In Bank Resolution Rules

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    A recent pair of Federal Deposit Insurance Corp. proposals would fundamentally reshape testing of banks' resolution-related capabilities from a mandatory exercise to a voluntary one supported by significant financial incentives, amounting to an overall reduction in reporting requirements, say attorneys at Moore & Van Allen.

  • Series

    Being A Singer Makes Me A Better Lawyer

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    Before law school, I spent seven years trying to make it as a professional singer in Los Angeles, and nearly everything I learned about preparation, humility, confidence and more has followed me into my legal practice, says Jessica Caterina at Moses & Singer.

  • $400M Serta Ruling Offers Warning On Uptier Deal Risks

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    A Texas bankruptcy court's recent remand ruling, which disallowed Serta Simmons Bedding’s uptier debt exchange and awarded $400 million to the minority lenders, demonstrates why deal counsel negotiating similar agreements should clearly define exceptions and lien subordination, while litigators should lean on express terms, says Jamie Aycock at Yetter Coleman.

  • Immigration Order Raises Customer ID Stakes For Banks

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    Following a recently issued immigration-related executive order, financial institutions should expect and prepare for increased scrutiny of customer due diligence and identification, suspicious activity monitoring, and consumer lending, as well as accompanying supervisory shifts and rising fair lending risks, says Douglas Weissinger at Butler Snow.

  • How 2nd Circ. Raised The Bar For Pleading Securities Fraud

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    In Huey v. Anavex, the Second Circuit recently appeared to increase the burden on securities fraud plaintiffs in pleading loss causation where no immediate share price decline follows the corrective disclosure, generating new questions that district courts must grapple with, say attorneys at Skadden.

  • Navigating OFAC's 50% Rule For Cross-Border Exec Mobility

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    A recent Office of Foreign Assets Control guide signals that its 50% ownership rule can determine not only sanctions compliance but also whether a company can sponsor multinational executives for immigration, highlighting an often overlooked interaction between sanctions and immigration law, says Xuan Zhang at Reid & Wise.

  • Trade Secret Practice Tips From The 1st Half Of 2026

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    Intellectual property attorneys should consider what several significant developments in 2026 thus far mean for how they protect, litigate and value trade secrets, focusing on new state noncompete bans, cases scrutinizing how plaintiffs identify trade secrets and federal rulings on damages doctrines, say attorneys at Faegre Drinker.

  • Yellow Corp. WARN Act Appeal Refines Layoff Guidance

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    A Delaware federal court's recent upholding of a bankruptcy court's disallowance of unions' federal Worker Adjustment and Retraining Notification Act claims against Yellow underscores that fact-specific notices and thoughtful timing are essential for distressed companies implementing layoffs, say attorneys at King & Spalding.

  • High Court Rulings Could Alter Agency Strategy For Cos.

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    The U.S. Supreme Court's recent decisions in Trump v. Slaughter and Trump v. Cook mark major turning points in the law of independent agencies and in how regulated companies should think about federal enforcement, rulemaking and agency-facing strategy, say attorneys at Holtzman Vogel.

  • How CME Suit May Reshape CFTC's Crypto Derivatives Rules

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    CME Group's recent lawsuit over the U.S. Commodity Futures Trading Commission's approval of a Kalshi application to offer a bitcoin perpetual contract as a futures product could have cascading consequences for crypto derivatives regulation, highlighting why policy ambitions do not override statutory text or substitute for reasoned decision-making, says attorney Tamara de Silva.

  • JPMorgan Ruling Shows Courts' Limited Role In Fee Fights

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    The Delaware Chancery Court's recent decision that JPMorgan Chase must cover more than $21 million in disputed legal fees for two former executives of the startup Frank illustrates the reality that companies, not the courts, are responsible for ongoing supervision of legal spending, says Theodore Edelman at GCE Advisors.

  • Preparing For Next Congress With Eye On Investigation Risk

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    Rod Rosenstein, Brian Whisler and Bruce Linskens at Baker McKenzie offer advice for organizations seeking to build a proactive response plan to potential congressional oversight as the election looms.

  • OCC Letter Affirms Nat'l Banks' Shield From State Licensing

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    The Office of the Comptroller of the Currency recently published a letter supporting Fidelity Digital Assets' stance that state money transmitter licensing requirements do not apply to national banks, confirming the agency's long-standing interpretive position on this issue, say attorneys at Katten.

  • The Debanking Minefield: Navigating Fair Access In 2026

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    Federal regulators' recent elimination of reputational risk from bank supervision, alongside a growing patchwork of state fair access laws, is reshaping how banks make account and service decisions and ushering in a new compliance era requiring individualized, objective and risk-based access determinations, say attorneys at Spencer Fane.

  • Tips For Investors, Creditors Before Venezuela Restructuring

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    As Venezuela enters the first genuinely actionable phase of what may become one of the largest sovereign debt restructurings in modern financial history, creditors should strategically evaluate their claim types and investors should consider engaging before formal negotiations commence, says Rodrigo Carvalho at Winston Taylor.

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