Banking

  • June 26, 2026

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

    The past week in London has seen Michelle Mone sued by PPE Medpro, Broadfield Law sued by the founders of an international aid company, and litigation funder Fortress bring a claim against Edwin Coe and businesses the law firm represented in a cartel claim.

  • June 25, 2026

    Epstein Survivors Sue 'Longest Banking Partner' FirstBank

    FirstBank Puerto Rico was hit with a proposed class action Wednesday in New York federal court over its alleged role as Jeffrey Epstein's "longest banking partner," becoming the latest financial institution to be sued by survivors who say it was "integral in helping him fuel his international sex trafficking operation."

  • June 25, 2026

    CFPB Updates Online Complaint Process To Stem 'Abuse'

    The Consumer Financial Protection Bureau is updating its complaint submission process, including by requiring those who submit complaints online to verify their email address and phone number, in moves that the National Consumer Law Center said aim to discourage complaints against the major credit reporting companies.

  • June 25, 2026

    FDIC Calls For Narrower Resolution Plans, Assessment Cuts

    The Federal Deposit Insurance Corp. on Thursday floated new rules that would significantly scale back its resolution-planning requirements for large banks and slash the banking industry's annual deposit insurance assessment bill by $4 billion, or roughly a third.

  • June 25, 2026

    Nigerian Bank Exits NJ Law Firm's Suit Over Fraudulent Check

    A New Jersey federal judge has tossed claims brought by law firm Scura Wigfield Heyer Stevens & Cammarota LLP against Access Bank PLC over an alleged scam that sent nearly $119,000 of the firm's funds to a bogus entity's account, saying the court does not have jurisdiction over the bank, since it is based in Lagos, Nigeria.

  • June 25, 2026

    Congress Members Reintroduce Cannabis Banking Bill Again

    A bipartisan group of lawmakers on Capitol Hill once again reintroduced a federal bill to ease the cannabis industry's ability to access banking that previously passed the U.S. House of Representatives seven times, but has never advanced in the U.S. Senate.

  • June 25, 2026

    Goldman Sachs Seeking Review Of 4th Circ. Arbitration Denial

    Goldman Sachs wants the U.S. Supreme Court to take another look at a Fourth Circuit ruling shutting down the bank's attempt to arbitrate disputes over alleged automatic stay violations with a pair of debtors who had previously declared bankruptcy, pointing to an alleged circuit split.

  • June 25, 2026

    Mich. Panel Says Detroit Schools Can't Use Tax For Bond Debt

    The Detroit Public Schools Community District and its predecessor have lost a bid to continue collecting an operating tax after an emergency loan is paid off, with an appellate court panel finding state law does not allow the tax to be levied to pay off other long-term debts. 

  • June 25, 2026

    Swiss Approve Aligning EU Tax Info Swaps With OECD Rules

    Switzerland's agreement to automatically exchange information between tax authorities in the European Union is poised to come under updated OECD standards after the government's executive branch recommended that lawmakers adopt amendments.

  • June 25, 2026

    Ex-SEC Chief Litigation Counsel Joins Norton Rose

    Norton Rose Fulbright has hired the former assistant chief litigation counsel at the U.S. Securities and Exchange Commission's Division of Enforcement, who has moved to the team after working for several years with Arnold & Porter Kaye Scholer LLP.

  • June 24, 2026

    SitusAMC's $5.3M Data Breach Deal Draws Judicial Scrutiny

    A New York federal judge is asking the plaintiffs suing real estate finance services firm SitusAMC over a 2025 data breach for additional information about the administration and public notice of their newly disclosed $5.3 million deal to resolve negligence and other claims stemming from the incident, saying the details are necessary for preliminary approval. 

  • June 24, 2026

    Tricolor's Ex-COO Cops To Fraud Charges Tied To Collapse

    The former chief operating officer of bankrupt subprime auto lender Tricolor Holdings pled guilty Wednesday to charges stemming from what prosecutors have described as a yearslong scheme to defraud the company's lenders and investors.

  • June 24, 2026

    Morgan Stanley Gets Initial OCC Nod To Launch 'Digital Trust'

    The Office of the Comptroller of the Currency has given an initial green light for Morgan Stanley to move forward with its plans to launch a cryptocurrency-focused trust bank, a first for one of Wall Street's banking giants.

  • June 24, 2026

    Engineer Traded Off Microsoft's Nuclear Plans, Feds Say

    An ex-Constellation Energy engineering manager was accused in an indictment in Delaware federal court and by the U.S. Securities and Exchange Commission of trading securities using nonpublic information about the company's confidential plans with Microsoft Corp. to potentially relaunch an inactive nuclear reactor.

  • June 24, 2026

    Dem Lawmakers Probe SEC On Brokerage AI Agents

    Democratic members of the House Financial Services Committee have urged U.S. Securities and Exchange Commission Chairman Paul Atkins to detail the agency's perspective on brokerage and investment advice provided through agentic artificial intelligence, saying agentic trading by retail brokerage platforms "raises serious questions for investor protection, broker-dealer responsibilities, market integrity, and the accountability of AI developers."

  • June 24, 2026

    Ex-Soccer Pro Indicted On Alleged $2.7M Trading Scheme

    A former professional soccer player was accused in an indictment in New Jersey federal court and by the U.S. Securities and Exchange Commission of using confidential information given to him by a romantic partner to make nearly $3 million in illegal trading profits over a 26-month period.

  • June 24, 2026

    Wells Fargo Forfeiture Suit Falls Short Again

    A Minnesota federal judge tossed a proposed class action against Wells Fargo alleging the bank misspent 401(k) forfeitures, holding on Wednesday for a second time that the ex-worker who sued lacked standing to bring his claims.

  • June 24, 2026

    Big Banks Clear Fed Stress Tests Amid Capital Rule Overhaul

    The Federal Reserve said Wednesday the nation's biggest banks have sufficient capital to withstand a severe recession, giving them passing marks in the latest round of stress tests as federal regulators work on a broader capital rule overhaul.

  • June 24, 2026

    FTX Exec's Wife Gets Trial Date In Campaign Finance Case

    A Manhattan federal judge Wednesday scheduled a November trial for crypto-lobbyist Michelle Bond, as she seeks to beat charges alleging she agreed with her husband, jailed former FTX executive Ryan Salame, to take illegal campaign cash from the bankrupt exchange.

  • June 24, 2026

    'Hard-Money' Lenders Guilty Of Stealing Upfront Fees

    A Manhattan federal jury convicted two Florida men of using their "hard-money" commercial real estate finance company to steal $18 million in upfront fees, after prosecutors said they defrauded developers to whom they never intended to extend loans.

  • June 23, 2026

    Landmark Housing Bill Heads To Trump After House Vote

    The U.S. House of Representatives on Tuesday overwhelmingly passed an amended version of landmark housing legislation focused on expanding housing supply and lowering housing costs with a 358-32 vote, putting it on the track to President Donald Trump's desk.

  • June 23, 2026

    Feds' Capital Revamp Has A Dodd-Frank Problem, Critics Say

    Big banks are broadly pleased with a draft capital-rule overhaul that federal regulators project would deliver the biggest capital relief in a generation, but critics say it rests on shaky legal ground that the banking agencies have "astoundingly" ignored.

  • June 23, 2026

    Truist Division Sued Over Citizenship-Based Loan Denial

    A recipient of Deferred Action for Childhood Arrivals hit Truist Financial Corp. division Sheffield Financial and an Oklahoma motorcycle dealership with a proposed class action alleging he was wrongfully denied credit based on his immigration status despite having an above-average credit score.

  • June 23, 2026

    FDIC Is Sole Owner Of SVB's $73M Fraud Coverage Claim

    The Federal Deposit Insurance Corp., as receiver for Silicon Valley Bank after its collapse in 2023, is the sole owner of the bank's claim for coverage of a $73 million fraudulent scheme and is entitled to recover proceeds for losses the bank suffered, a North Carolina federal court ruled.

  • June 23, 2026

    Circle Says It's Not Liable To Crypto Users For Drift Hack

    Circle Internet Group urged a Massachusetts federal court to toss a suit from crypto users accusing the stablecoin issuer of failing to act when $280 million in digital assets was drained from crypto project Drift Protocol in an April Fools' Day exploit, arguing that accusations of inaction are insufficient to support the claims.

Expert Analysis

  • Mortgage EO Casts Wide Net In Push To Ease Lending Rules

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    A recent executive order targeting mortgage credit access states an intent to promote competition among all types of lenders and is notable for its breadth, resetting regulatory expectations in a number of areas including origination, digitization and licensing, says Kara Ward at Baker Donelson.

  • 'Made In America' Rules Raise Stakes For Gov't Contractors

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    The convergence of widely varying "buy American" requirements, increased enforcement efforts and continuing regulatory attempts to limit foreign sourcing suggests that government contractors should carefully review their supply chain and country-of-origin compliance to remain competitive, say attorneys at Arnold & Porter.

  • Recent Bank Resolution Filings Stress Readiness Over Docs

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    Against the backdrop of banking regulators' recent emphasis on institutional readiness in the event of a bank failure, a review of more than a dozen public resolution plan submissions points to an immediate future in which regulators and banks alike prioritize operational preparedness over extensive documentation, say attorneys at Moore & Van Allen.

  • Series

    Alpine Skiing Makes Me A Better Lawyer

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    Skiing has shaped habits I rely on daily as an attorney — focus, resilience and the ability to remain steady when circumstances shift rapidly — and influences the way I approach legal strategy, client counseling and teamwork, says Isaku Begert at Marshall Gerstein.

  • NY Tax Talk: Calculating Tiered Partnership Income

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    Attorneys at Eversheds Sutherland discuss how the potential impact recent New York City Tax Appeals Tribunal decision in Matter of Cantor Fitzgerald holding that the entity approach should be used by tiered partnerships to compute unincorporated business tax liability, why the issue of the proper approach remains unsettled and the broader implications for federal conformity and administrative agency deference.

  • Fair Housing Takeaways From Colony Ridge Settlement

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    The recent settlement agreement between Colony Ridge Developments, the U.S. government and the state of Texas — perhaps the first settlement involving unfair lending and housing practices during the second Trump administration — reflects current enforcement priorities and sheds light on shifting compliance risks, say attorneys at Weiner Brodsky.

  • Understanding The SEC's Consequential Crypto Guidance

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    The U.S. Securities and Exchange Commission's recent interpretive release — its most comprehensive statement ever on the application of the federal securities laws to crypto-assets — reimagines the Howey test to resolve long-standing questions over what is a security, but leaves many issues unresolved, say attorneys at Cahill.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q1

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    In the first quarter of 2026, New York's banking developments were headlined by initiatives to expand oversight of financial institutions and strengthen consumer protection laws, including a new framework for buy now, pay later lenders, a sweeping debt collection rule and a revised corporate self-disclosure program for financial crimes, say attorneys at Proskauer.

  • AI Recruiting Suit Shows Old Laws May Implicate New Tools

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    The Fair Credit Reporting Act allegations recently filed in Kistler v. Eightfold AI, are the latest example of broad definitional language in legacy statutes proving far more dangerous to companies deploying artificial intelligence – particularly in hiring – than any purpose-built artificial intelligence regulation, say attorneys at Ogletree.

  • 2 Rulings Poke Holes In Mandatory Restitution Framework

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    The U.S. Supreme Court’s recent ruling in Ellingburg v. U.S., as well as the Third Circuit’s recent ruling in U.S. v. Abrams, provide criminal defense practitioners with new tools to challenge Mandatory Victims Restitution Act orders, and highlight several restitution-related issues that converged in the recent prosecution of former Frank CEO Charlie Javice, say attorneys at Lankler Siffert & Wohl.

  • What Voluntary Calif. Carbon Reports Show About Compliance

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    While the enforcement of California's S.B. 261 is currently paused due to a Ninth Circuit injunction, more than 130 companies have nonetheless chosen to voluntarily publish climate-related financial risk disclosures, providing a useful snapshot of how the market is interpreting the law's requirements in practice, say attorneys at DLA Piper.

  • What A Court Doc Audit Reveals About Erroneous Filings

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    My audit of 1,522 court documents from last month found that over 95% contained at least one verifiable error, with fewer than 1% showing clear indicators of artificial intelligence use — highlighting above all else that lawyers may want to focus most on strengthening their review processes, says Elliott Ash at ETH Zurich.

  • Exploring When Fraud Asset Freezes Limit Right To Pick Atty

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    The defendant’s claim in the Seventh Circuit’s pending U.S. v. Shah case that the government restrained his assets until he couldn’t afford his chosen counsel presents a useful case study in how criminal forfeiture procedure interacts with U.S. Supreme Court rulings on Sixth Amendment rights and appealing complex fraud convictions, says Elisha Kobre at Sheppard.

  • Regulators' Basel Pitch May Bring Banks Capital Relief

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    The prudential banking agencies' new proposals to implement the so-called Basel III endgame rules — which would modify the approach to risk-based capital, among other notable changes — represent a fundamental directional shift in bank capital requirements aimed at increasing lending capacity, says Chen Xu at Debevoise.

  • Series

    Mich. Banking Brief: All The Notable Legal Updates In Q1

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    Michigan's financial services sector saw several significant developments in 2026's first quarter, including the state Department of Insurance and Financial Services' issuance of a bulletin on the use of artificial intelligence and the Michigan House's introduction of a bill based on the Model Money Transmission Modernization Act, say attorneys at Dykema.

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