Banking

  • September 03, 2026

    SEC Moves To Scrap 'Pay-To-Play' Political Donation Rule

    The U.S. Securities and Exchange Commission on Thursday issued a proposal to rescind a rule regarding political contributions made by investment advisers, which agency Chair Paul Atkins called "overly prescriptive."

  • September 03, 2026

    OCC Gives Initial Nods To Digital Banks Revolut, OpenReserve

    The Office of the Comptroller of the Currency preliminarily approved charter applications from European digital bank Revolut and blockchain-based bank OpenReserve to establish national banks in the United States.

  • September 03, 2026

    Mortgage Co. Must Face Consumer Claims Over Dispute Flags

    An Illinois federal judge has rejected requests from mortgage servicer Dovenmuehle Mortgage Inc. and a consumer leading a proposed class action accusing it of sending inaccurate payment history information to consumer reporting agencies, saying neither summary judgment for the servicer nor class certification are appropriate at this time.

  • September 03, 2026

    1st Circ. Orders Redo In Puerto Rico Hospital Loan Fight

    The First Circuit revived hospital Instituto Medico Del Norte's Chapter 11 lawsuit against a lender, remanding the case after it "struggled to make sense" of a Puerto Rico bankruptcy judge's decision to dismiss the litigation.

  • September 03, 2026

    CFTC Says CME Perps Fight Is 'Much Ado About Nothing'

    The U.S. Commodity Futures Trading Commission told a D.C. federal judge that the Chicago Mercantile Exchange's suit over the agency's approval of Kalshi's bitcoin perpetual futures contract is "much ado about nothing" since the derivatives exchange is free to list its own version of the product.

  • September 03, 2026

    Boutique Firms Emerge As Trump Admin's 'Achilles' Heel'

    Less fearful of retribution than some of their BigLaw counterparts, small law firms are taking on an outsize role handling cases seen as adversarial to the Trump administration.

  • September 02, 2026

    Banks Can Discuss Fraud Without Disclosing SARs

    The U.S. Department of the Treasury's financial crimes unit and other financial regulators said Wednesday that banks can communicate with customers who are the subject of suspicious activity reports about potential underlying fraud so long as they don't reveal the existence of the report.

  • September 02, 2026

    GOP Bill Would Alter CFPB Funding, Curb Enforcement

    Two high-ranking Republican U.S. representatives have formally introduced legislation that would put the Consumer Financial Protection Bureau through the regular congressional appropriations process and establish a dedicated inspector general, among other changes.

  • September 02, 2026

    PayPal Lets Tech 'Invisibly' Track Venmo Users, Suit Says

    PayPal misled users about third-party tracking technologies embedded in its payment platform Venmo and how their personal information was disclosed to third parties, according to a new suit filed in California federal court.

  • September 02, 2026

    JPMorgan Seeks Stay Of $20M Javice, Amar Fee Order

    JPMorgan Chase & Co. urged the Delaware Chancery Court on Wednesday to pause enforcement of an order requiring it to advance more than $20 million in disputed legal fees to convicted Frank founder Charlie Javice and former executive Olivier Amar, arguing the bank could permanently lose the money before it gets a chance to challenge the ruling.

  • September 02, 2026

    TabaPay Secures $155M As It Plans To Buy Transact Bank

    Money movement platform TabaPay Inc., advised by Reed Smith LLP, on Wednesday revealed that it has received a $155 million strategic investment from Gibson Dunn & Crutcher LLP-led FTV Capital, while also unveiling plans to acquire Denver-based Transact Bank.

  • September 02, 2026

    'Astonished' Homebuyer Says Atty Email Lapse Caused Hack

    A New York City law firm has been ordered to provide internet security and login information to a homebuyer who claims she was left in "shock" when an impostor with access to her lawyer's email tricked her into wiring away over $730,000.

  • September 01, 2026

    Calif. Private Fund Execs Charged In $80M Ponzi-Like Scheme

    Executives of a California-based loan origination business and its affiliates were hit with securities violations and criminal charges by the U.S. Securities and Exchange Commission and the U.S. Attorney's Office in federal court over an alleged Ponzi-like scheme that raised over $80 million from unwitting investors. 

  • September 01, 2026

    Servicer Says Borrowers Weren't Harmed By Warning Letters

    Housing loan servicer Selene Finance LP says a North Carolina federal court should end a proposed class action alleging the company sent false and deceptive notices about defaults, arguing the suit fails to describe any remediable harm.

  • September 01, 2026

    CFTC Drops Swaps Manipulation Claim In Deal With Ex-Trader

    The Commodity Futures Trading Commission on Tuesday wrapped up a long-running enforcement action against a former investment bank managing director, dropping claims that he manipulated swap prices to benefit his bank and settling claims that he destroyed evidence.

  • September 01, 2026

    SEC Sends White House Plan For Retail Private Market Access

    The U.S. Securities and Exchange Commission's Division of Investment Management has submitted to the White House a proposal to help facilitate retail investors' exposure to private markets and enable investment advisers to charge related performance fees, saying it could provide more opportunities for investors looking to diversify their portfolios.

  • September 01, 2026

    High Court Should Skip Ruby Tuesday Benefits Suit, SG Says

    The U.S. solicitor general has urged the Supreme Court to decline to consider a suit from former Ruby Tuesday executives alleging Regions Bank inadequately protected their retirement plan benefits that were liquidated in bankruptcy, saying the "idiosyncratic" nature of the dispute makes it a poor candidate for high court review.

  • September 01, 2026

    Barnes & Thornburg Says Ex-NBA Star Owes $1M Legal Fees

    Former NBA player Luol Deng is being sued for more than $1 million by a Chicago-based law firm that claims he failed to pay legal fees connected to two real estate matters, according to a suit filed in Illinois state court.

  • September 01, 2026

    Unified, Industry Orgs. Again Push Justices On PTAB Policies

    Unified Patents, Clearing House Payments subsidiary Askeladden and a series of industry groups have continued pressing the U.S. Supreme Court to accept petitions addressing the U.S. Patent and Trademark Office's patent review authority, this time in a case brought by Tesla.

  • September 01, 2026

    Insurer Can't Dodge Wire Fraud Coverage, Ala. Judge Says

    Lenders are entitled to coverage for losses from a closing agent falling victim to wire fraud in mortgage refinancing transactions, an Alabama magistrate judge said Monday, finding that an exclusion barring coverage for an insured creating their own losses doesn't apply.

  • September 01, 2026

    Investment Co. Disputes IRS' $166M Add-On To Capital Gains

    An investment company accused the IRS of mistakenly inflating its 2008 short-term capital gains from certain securities investments to about $170 million from $4 million, telling the U.S. Tax Court the gains were properly deferred during the Great Recession.

  • September 01, 2026

    Fox Investor Sues Over Morgan Stanley Role In $22B Deal

    A Fox Corp. stockholder has sued the media company and its board in the Delaware Chancery Court, seeking to block a shareholder vote tied to Fox's planned $22 billion acquisition of Roku Inc. until investors receive more information about alleged conflicts involving financial adviser Morgan Stanley.

  • August 31, 2026

    Whistleblower Atty Award Cut To $5.4M After 9th Circ. Remand

    A California federal judge cut fees and expenses to $5.4 million for attorneys representing a whistleblower in her suit against Academy Mortgage Corp., after a Ninth Circuit remand deemed the previously awarded $8.6 million to be too high.

  • August 31, 2026

    Circle Says N. Korea Hack USDC Was Never In Its Possession

    Blockchain company Circle Internet Financial LLC said that the family of a man who was kidnapped and murdered by North Korean agents cannot collect $232 million from the company following the April Fools' Day exploit of crypto project Drift Protocol, arguing it was not in possession of the contents of the wallets at issue.

  • August 31, 2026

    Colo. Fund Says Lender Hid $10M Loan Subordination Deal

    The manager of a Colorado-based investment fund accused mortgage lender Cherry Creek in state court of executing an "invalid" hidden subordination agreement that allowed the lender to delay its interest payments on a $10 million promissory note.

Expert Analysis

  • Drawing A Line Between Settlement Pressure And Extortion

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    U.S. v. Luo, pending in the U.S. District Court for the Southern District of New York, may force courts to address anew when settlement negotiations become criminal extortion, particularly in the age of easily fabricated digital evidence, says attorney Denis Kiely.

  • Responding To US Labeling Brazilian Gangs As Terrorist Orgs

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    The Trump administration's recent designation of two Brazilian criminal organizations as foreign terrorists affects companies in multiple sectors that must now assess their exposure and enhance their sanctions, know-your-customer and anti-money-laundering screening programs, say attorneys at King & Spalding.

  • Securities Class Cert., 5 Years After Goldman Ruling

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    The U.S. Supreme Court's 2021 decision in Goldman Sachs Group v. Arkansas Teacher Retirement System has not only armed defendants in securities cases with more arguments in individual class certification fights, but may also be providing greater certainty and finality in class certification battles, say attorneys at Skadden.

  • What Fed's Fast Track To Account Access Means For Fintechs

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    Fintechs, stablecoin issuers and other nonbank entities should assess eligibility, compliance demands and operational limits ahead of the Federal Reserve's potential finalization of a payment account framework proposing a faster path to direct access to key payment rails, says Stephen Aschettino at Fox Rothschild.

  • A Lender's Guide To Fraud: Identifying Risks

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    The evolving lending landscape, particularly the private credit boom, has heightened lenders' exposure to fraud, but recent bankruptcies demonstrate where fraud risks most commonly materialize and how banks can mitigate exposure at the outset, say attorneys at Moore & Van Allen.

  • Series

    Founding An Autism Academy Made Me A Better Lawyer

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    Starting a nonprofit autism school with no building, no funding model and no guarantee that families would trust us taught me the importance of mission, patience and purpose — lessons that sharpened my practice and showed how meaningful work outside the office can make lawyers better, says Phillip Russell at Ogletree Deakins.

  • Brightline Debt Woes Highlight Risks In Private Rail Finance

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    The reported creditor negotiations and mounting debt obligations of Florida railroad Brightline arrive at a moment when the assumptions underlying a decade of privately financed infrastructure investment are under pressure across multiple asset classes, says Robert Charbonneau at Agentis.

  • The Banking Issue Hiding In Justices' Freight Broker Ruling

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    While the U.S. Supreme Court’s recent liability preemption ruling in Montgomery v. Caribe Transport was front-page news for the transportation industry, the banking industry seems to have missed that the decision exposes freight broker lenders to credit, documentation and litigation issues, say attorneys at Barack Ferrazzano.

  • Opinion

    Rule Of Law Requires Gov't Engagement With Bar, Not Retreat

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    A federal agency's absence from national and local bar conferences, most recently illustrated by the U.S. Department of Justice's withdrawal from a New York City Bar Association white collar conference, disserves the bar, the government lawyers themselves and, ultimately, the administration of justice, says Muhammad Faridi at Linklaters.

  • AG Watch: Oregon's Strategic Civil Enforcement Approach

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    Oregon Attorney General Dan Rayfield’s recent antitrust litigation activity and proposed staffing increase are the latest in a series of structural and policy changes that signal that the state Department of Justice is taking a more aggressive approach to civil enforcement, says Keturah Taylor at Cozen O'Connor.

  • How Nasdaq's 23/5 Rule Will Alter Public Offering Strategies

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    The U.S. Securities and Exchange Commission's recent approval of Nasdaq's proposal to extend trading hours to 23 hours a day, five days a week, may reshape how certain public offerings are executed, particularly for confidentially marketed public offerings, say attorneys at Faegre Drinker.

  • Fannie, Freddie AI Rules Raise Stakes For Mortgage Lenders

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    Artificial intelligence governance frameworks recently released by Fannie Mae and Freddie Mac impose monitoring and vendor oversight standards on mortgage lenders, potentially reshaping secondary-market eligibility, fair lending reviews and risk management as compliance deadlines approach, says Brendan Palfreyman at Harris Beach.

  • The Paradoxical Duty To Adopt AI When You Can't Bill For It

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    Both billing for hours saved using artificial intelligence and preserving billable time by not adopting AI may violate rules of professional conduct, but until bar associations' ethics rules catch up to this emerging economic dilemma, firms must decide how to adjust fee structures themselves, says Ines Lassalle at Peyrot & Associates.

  • Sripetch May Prove To Be An Empty Victory For The SEC

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    The U.S. Supreme Court's recent decision in Sripetch v. U.S. Securities and Exchange Commission held that the SEC need not prove pecuniary harm for disgorgement, but if the commission must still identify victims and distribute funds in a compensatory way, it faces the same economic problem as before the ruling, says Erin Smith at Compass Lexecon.

  • TTAB's Everwise Decision Highlights Token-Use Pitfalls

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    The Trademark Trial and Appeal Board's recent cancellation of Everwise Credit Union's registration for the standard character mark "Everwise Credit Union" offers a detailed road map for practitioners on both sides of reexamination proceedings, and a blunt warning on specimen strategy, say attorneys at Akerman.

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