Banking

  • June 18, 2026

    Ex-Wells Fargo Rep Can't Get Whistleblower Pay At Fed. Circ.

    The Federal Circuit won't revive an ex-Wells Fargo employee's suit alleging the U.S. Department of Justice won't pay her share of a $2 billion payout that settled allegations the bank misled investors about troubled loans behind its residential mortgage-backed securities, ruling Thursday the U.S. Court of Federal Claims lacks jurisdiction to review the DOJ's decision.

  • June 18, 2026

    Tort Suit Marketing Co. Says It Must Keep Firm's $9M Payment

    A marketing company that specializes in advertising mass tort litigation lodged a suit against a lender in Texas state court, claiming the lender wrongfully demanded $6 million that came from a judgment finding that a law firm failed to make payments for a $42 million contract.

  • June 18, 2026

    JPMorgan Customers Seek Class Cert. In Cash Sweep Case

    Customers of JPMorgan's brokerage arm have asked a New York federal judge to grant class certification in their suit accusing the Wall Street giant of underpaying the interest on cash sweep accounts, noting that a judge previously called the case an "unusually easy" one for class treatment.

  • June 18, 2026

    Convicted Atty's Federal Bar Future Hinges On State Review

    A Connecticut federal judge said Thursday that he is "impressed" with the "growth" that a suspended attorney has shown in the months since his reinstatement hearing began, but he would not rule on readmitting him to the bar until a state-level committee makes its own recommendation.

  • June 18, 2026

    Bank Regulators Float Joint Stablecoin Customer ID Rule

    Banking regulators Thursday collectively proposed customer identification standards for stablecoin issuers in a joint rulemaking under the federal stablecoin framework, the Genius Act.

  • June 18, 2026

    Skadden, Troutman Lead First Carolina Bank's $69M IPO

    First Carolina Financial Services, a community bank with branches in several southeastern states, began trading its shares on Thursday after pricing a $69 million initial public offering below its target range, guided by Skadden Arps Slate Meagher & Flom LLP and underwriters' counsel Troutman Pepper Locke LLP.

  • June 18, 2026

    Trump Accounts Not Subject To ERISA, DOL Says

    Trump accounts, the new tax-advantaged brokerage accounts for newborns, will generally not be considered employee pension benefit plans and will not be subject to federal benefits laws, according to guidance issued Thursday by the U.S. Department of Labor.

  • June 18, 2026

    BofA Exits Biden-Era OCC Order Over Pandemic Relief Lapses

    The Office of the Comptroller of the Currency has terminated a 2022 consent order with Bank of America NA over its handling of prepaid unemployment benefit cards during the COVID-19 pandemic, closing out a key part of a Biden-era joint enforcement action against the bank.

  • June 18, 2026

    Liberty Mutual Says It's Owed $1.5M In School Bond Row

    Liberty Mutual Insurance Co. told a North Carolina federal court that a construction company owes about $1.5 million for losses Liberty incurred in connection with the contractor's work on a school construction project for which Liberty executed bonds.

  • June 18, 2026

    Greenberg Traurig Brings On Former BNY Mellon Exec In NJ

    Greenberg Traurig LLP has added a former Bank of New York Mellon executive as of counsel in its finance practice in New Jersey, the firm announced Wednesday.

  • June 18, 2026

    Ex-Court Clerk Wants Murdaugh Jury-Tampering Suit Dismissed

    Disgraced attorney Alex Murdaugh cannot tie the money he spent on his criminal defense in his since-nullified murder trial back to a former court clerk's alleged jury tampering, so his lawsuit over that tampering should be tossed, the former clerk told a South Carolina federal court Thursday.

  • June 18, 2026

    Wells Fargo Must Face Finance Manager's Bias Claims At Trial

    Wells Fargo has lost its bid for summary judgment in a finance manager's disability bias lawsuit, with a North Carolina federal judge ruling that a material dispute remains over whether she suffered an adverse action for her retaliation and discrimination claims.

  • June 18, 2026

    Troutman, Bennett Jones Guide Deluxe On $625M Celero Buy

    Deluxe said it has agreed to purchase payments company Celero Commerce for about $625 million in cash, with Troutman Pepper Locke LLP and Bennett Jones LLP advising Deluxe and DLA Piper representing Celero. 

  • June 18, 2026

    CME Group Sues CFTC Over Perpetual-Contracts Approval

    CME Group is challenging the U.S. Commodity Futures Trading Commission's decision to approve the listing of perpetual contracts, arguing in a lawsuit that the agency "overrode Congress's definition of the term 'swap'" when it gave Kalshi the green light last month to allow trading on bitcoin spot prices. 

  • June 17, 2026

    FTX Exec's Wife Must Face Campaign Finance Charges

    A New York federal judge Wednesday refused to throw out an indictment accusing crypto lobbyist Michelle Bond of campaign finance crimes, rejecting her argument that prosecutors previously promised her husband, a former FTX executive, that his guilty plea would mean she's in the clear.

  • June 17, 2026

    OCC Warns Charter Hopefuls Against Incomplete Applications

    The Office of the Comptroller of the Currency said Wednesday that it will send back incomplete regulatory applications without a review and will start publishing its denial decisions, putting bank charter hopefuls and other corporate filers on notice.

  • June 17, 2026

    Visa, Mastercard Say 'Old' Deal Bars 'New' Merchant Suit

    Visa and Mastercard asked a New York federal court to shut down a new proposed class action from merchants seeking to get around the future claims release in the credit card companies' $5.6 billion transaction fees antitrust settlement, arguing the new merchants are clearly bound by the old deal.

  • June 17, 2026

    NC Biz Court Narrows Fight Over Flopped Development Deal

    A private lender and its top brass have shaved a host of claims from a dispute with the part-owners of a real estate development project that never got off the ground, with a North Carolina Business Court judge finding that many of the allegations against them were too "thin" to advance.

  • June 17, 2026

    Citigroup Says Foreign Bondholders Can't Bring RICO Suit

    Citigroup urged a Florida federal magistrate judge Wednesday to dismiss racketeering claims in a suit accusing the bank of running a massive cash advance fraud scheme, arguing the bondholder plaintiffs suffered no domestic injury that would allow them to sue under the Racketeer Influenced and Corrupt Organizations statute.

  • June 17, 2026

    Lender Says Co. Defaulted On $5M Loan, Tanked Pot Site Value

    A cannabis real estate company and an affiliate gutted a $27 million cultivation facility, stopped paying taxes on it and defaulted on a $4.6 million clean-energy loan, according to a federal lawsuit by the lender, which seeks a court-ordered sale of the property.

  • June 17, 2026

    Judge OKs Deal Ending Halkbank Iran Sanctions Prosecution

    A New York federal judge Wednesday officially approved a no-fine deal ending the long-running criminal prosecution of Turkey's Halkbank, in which the feds accused the state-backed Turkish lender of scheming to launder billions of dollars in sanctioned Iranian oil proceeds.

  • June 17, 2026

    Goodwin Steers Tripadvisor On $700M Sale Of TheFork

    Goodwin Procter LLP is advising Tripadvisor Inc. on its agreement to sell TheFork, an online restaurant reservation and management platform in Europe, to American Express for $700 million. 

  • June 16, 2026

    Capital One Clients Denied Class Cert. In Data Sharing Suit

    A California federal judge Tuesday refused to certify a class of Capital One customers claiming their personal financial information was illegally disclosed to Meta Platforms Inc., Google LLC and others, ruling that there are too many individualized factors at play.

  • June 16, 2026

    NJ Launches Push To Crack Down On Consumer 'Junk Fees'

    New Jersey officials are declaring war on "junk fees" in the state with tighter regulation and enforcement, the latest state-level move to step up consumer protection efforts amid the Trump administration's pullback at agencies like the Consumer Financial Protection Bureau.

  • June 16, 2026

    Citi Illegally Fired Risk Exec For Raising Issues, Suit Says

    Citigroup Inc. has been sued by a former senior risk management executive who alleged the bank fired her after she flagged risk deficiencies and identified problems with Citi's anti-money laundering risk management controls, and the bank has pushed back on her bid to proceed anonymously.

Expert Analysis

  • Key Takeaways From The 2026 ABA Antitrust Spring Meeting

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    Last week's American Bar Association Spring Meeting revealed an antitrust landscape defined by heightened friction and tension — between federal and state enforcers, domestic and international regimes, competing political visions, and traditional enforcement tools and novel challenges, say attorneys at Skadden.

  • Series

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

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    The first quarter of 2026 brought several consequential developments for Pennsylvania financial institutions, including the state banking department's first assessment overhaul in 10 years, a bill prohibiting interchange fees on card transaction sales taxes and a federal appeals court's upholding of a $52 million enforcement action, say attorneys at Gross McGinley.

  • Madison Capital Action Displays SEC's Emphasis On Process

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    The U.S. Securities and Exchange Commission's recent enforcement action against Madison Capital reflects the SEC's view that when market conditions materially change, valuation methodologies must be reassessed in real time, highlighting the importance of internal processes, say attorneys at Lankler Siffert & Wohl.

  • In First For DOJ, Action Signals New CFIUS Enforcement Era

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    The U.S. Department of Justice is seeking judicial enforcement of a divestment order, an unprecedented action for the agency that ushers in a new phase for the Committee on Foreign Investment in the United States, one in which judicial proceedings complement administrative oversight and presidential divestment orders may be enforced through litigation, says attorney Sohan Dasgupta.

  • Getting The Most Out Of Learning And Development Programs

    Excerpt from Practical Guidance
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    Junior associates can better develop the legal, business and interpersonal skills they need for long-term success by approaching their firms’ learning and development programs armed with five tips for getting the most out of these resources, says Lauren Hakala at Reed Smith.

  • OCC Rule Tests Nonfiduciary Powers Of Trust Banks

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    The Office of the Comptroller of the Currency's updates to its final rule on national bank chartering, effective April 1, may augur a showdown between the OCC, states and traditional banking institutions over both the authority of national trust banks to engage in nonfiduciary activities under the National Bank Act, and the scope of federal preemption, says Audrey Carroll at Stinson.

  • AI And Threats To Privilege In Financial Sector Probes

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    The recent spotlight on the potential for artificial intelligence platforms to serve as a source for discoverable information is especially important for financial institutions to understand, as the industry navigates increasingly complex regulatory expectations and AI tools become embedded in investigative efforts, say attorneys at Jackson Lewis.

  • 'A-C-T' Agenda Signals New Regulatory Era At SEC Speaks

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    At this year's SEC Speaks, U.S. Securities and Exchange Commission Chairman Paul Atkins unveiled his ambitious A-C-T agenda — advance, clarify and transform — to align the federal securities regulatory regime with modern markets, illustrating that the conference was not merely a status update but an action plan, say attorneys at Perkins Coie.

  • Opinion

    AI Presents A Make-Or-Break Moment For Outside Counsel

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    The rapid adoption of artificial intelligence by corporate legal departments is forcing a long-overdue reset of the relationship between inside and outside counsel, and introducing a significant opportunity to shed frustrating inefficiencies and strengthen collaboration for firms willing to embrace the shift, says Intel Chief Legal Officer April Miller Boise.

  • 8 Tariff Refund Questions For Restructuring Professionals

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    For restructuring and turnaround professionals, seeking refunds following the U.S. Supreme Court's recent decision invalidating tariffs imposed under the International Emergency Economic Powers Act raises several questions about how to capture legitimate recoveries while protecting an enterprise from the consequences of its own history, says Jonny Frank and Laura Greenman at StoneTurn, and Andrew Popescu at Province.

  • When 'Qualified Transferees' Can Chill UCC Foreclosures

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    A recent New York state court decision in a closely watched real estate dispute in WWP Mezz LLC v. WWP Mezz Investment Co. is a reminder to lenders, and a warning to borrowers, of the Uniform Commercial Code foreclosure's immense power as a lender remedy, says Joshua Wurtzel at Schlam Stone.

  • Series

    Watching Hallmark Movies Makes Me A Better Lawyer

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    I realize you may be judging me for watching, and actually enjoying, Hallmark Channel movies, but the escapism and storylines actually demonstrate qualities and actions that lead to an efficient, productive and positive legal practice, says Karen Ross at Tucker Ellis.

  • NY Bill Elevates Criminal Risk For 'Shadow' Crypto Firms

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    New York's proposed CRYPTO Act would expose unlicensed digital asset operators to criminal penalties ranging from state misdemeanor charges to felony convictions, potentially marking a significant shift in how New York — already among the most aggressive crypto regulators — oversees virtual currency businesses, say attorneys at Crowell & Moring.

  • Opinion

    AI Doc Ruling Got Privilege Analysis Wrong

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    Broad reasoning used by a New York federal judge in U.S. v. Heppner — to determine the criminal defendant's interactions with a generative artificial intelligence platform were not protected — mistakenly treats AI use as dispositive disclosure to a third party and adopts an unduly narrow conception of work product, say attorneys at Lankler Siffert.

  • AG Watch: New York's Heightened Enforcement In Real Estate

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    Over the past several months, New York Attorney General Letitia James has brought a rapid succession of enforcement actions targeting rent stabilization abuse, unsafe housing conditions and fraudulent securities practices, signaling that the office views these problems as systemic issues warranting aggressive intervention, say attorneys at Quinn Emanuel.

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