• March 12, 2018

    Senate Advances Bill Rolling Back Banking Rules

    The Senate continued toward a partial rollback of Dodd-Frank Act financial regulations Monday, as backers said they have moved closer to removing some of the most burdensome regulations for small and regional banks.

  • March 12, 2018

    Credit Unions Fight Chipotle's Bid To Dodge Breach Suit

    A proposed class of banks suing Chipotle Mexican Grill Inc. for exposing diners' credit card numbers in a recent data breach urged a Colorado federal judge Monday to keep its case alive, claiming the burrito chain's lax security created preventable risks that extend beyond the mere loss of funds.

  • March 12, 2018

    SEC Gets Asset Freeze Extended In AriseBank ICO Suit

    A Texas federal judge on Friday extended an asset freeze and other emergency measures put in place earlier this year for AriseBank and its top executives after the U.S. Securities and Exchange Commission accused them of running an illegal and fraudulent initial coin offering.

  • March 12, 2018

    Law360's Banking Editorial Advisory Board

    Law360 is pleased to announce the formation of its 2018 Banking editorial advisory board.

  • March 12, 2018

    SunTrust Workers Settle ERISA Row For $4.57M Post-Amgen

    SunTrust Banks Inc. workers asked a Georgia federal judge on Friday to preliminarily approve a $4.75 million Employee Retirement Income Security Act settlement of class claims that the company improperly handled their retirement funds, acknowledging the litigation risks after the U.S. Supreme Court’s Amgen decision.

  • March 12, 2018

    Capital One Sued For Checking Credit Info Post-Bankruptcy

    Capital One Auto Finance Inc. was hit with a putative class action in California federal court on Friday accusing it of obtaining a San Diego woman’s consumer credit report weeks after her debt with the lender was discharged through bankruptcy.

  • March 9, 2018

    Why The ‘Blue Slip’ Battles Are Becoming White Hot

    It’s more of a norm than a rule. Its use has shifted over time, often with political winds. But the once-obscure Senate tradition is now front and center in the boiling debate over the future of the judiciary.

  • March 9, 2018

    Senior Judges Fill The Void Left By Rampant Vacancies

    More federal judges are skipping the golf course to head back to the courtroom upon taking senior status, and they're playing an increasingly vital role in a strained system.

  • March 9, 2018

    How Far Right Can The President Pull The Courts?

    Although President Donald Trump set a record with the number of circuit judges he named during his first year, experts say that's not the whole story. Here’s our data-driven look at what the White House faces in its quest to reshape the appeals courts.

  • March 9, 2018

    Wells Fargo Says Denial Of Cert. Right Call In RMBS Suit

    Wells Fargo Bank NA has urged a New York federal judge to adopt a magistrate judge’s report recommending that class action status be denied for Royal Park Investments’ suit accusing the bank of bungling its duties as trustee to two residential mortgage-backed securitization trusts.

  • March 9, 2018

    Film Co. RKA's Suit Against Relativity Media Affiliates Flops

     A New York state judge on Thursday tossed a $110 million suit against people and companies tied to Relativity Media LLC who were accused of defrauding lender RKA Film Financing, saying the suit was “plagued” by a lack of detail.

  • March 9, 2018

    Transmar Cocoa CEO, Son Plead Guilty To $400M Bank Fraud

    A father and son pled guilty Friday in New York federal court to defrauding a group of lenders through false “borrowing base” reports designed to secure a $400 million line of credit for their cocoa trading company, Transmar Commodity Group Ltd., and face a maximum of 30 years in prison.

  • March 9, 2018

    Insurance Co. Can't Dodge Coverage In Bank Fraud Scheme

    A South Carolina federal judge refused Thursday to end claims against an insurer over coverage for a former GrandSouth Bank vice president indicted in connection with lending that allegedly enabled a staffing company's continued nonpayment of payroll taxes, citing an ongoing factual dispute as to whether separate suits are “interrelated” and so quash coverage.

  • March 9, 2018

    US Bank, BNY Mellon Escape $280M RMBS Trustee Suit

    A New York federal judge ruled Thursday that three Triaxx collateralized debt obligation issuers have run out of chances on their $280 million suit alleging U.S. Bank NA and the Bank of New York Mellon dropped the ball as trustees to several dozen residential mortgage-backed securitization trusts.

  • March 9, 2018

    BNP, Trustee Argue Due Diligence In Madoff Clawback Suit

    BNP Paribas SA and the bankruptcy trustee for Bernie Madoff’s investment company argued Friday before a New York bankruptcy judge over whether the French bank was a negligent steward or merely an innocent dupe as they contested an attempt to make BNP and its affiliates pay $156 million for accepting money from Madoff’s Ponzi scheme.

  • March 9, 2018

    Ex-Sugar Felsenthal Bankruptcy Pro Joins Horwood Marcus

    Horwood Marcus & Berk Chartered has hired the former chairman of the executive committee of Sugar Felsenthal Grais & Helsinger LLP as its new bankruptcy chair in its Chicago office, whose experience includes representing the committee of equity holders in AgFeed’s Chapter 11 proceedings.

  • March 9, 2018

    PNC Says Bank Law OKs Criminal Check For Job Applicants

    A PNC bank unit asked a Pennsylvania federal judge to throw out class allegations that it wrongly revoked a job offer to an applicant based on criminal history records, saying Friday that federal banking law preempts a state statute against considering such histories when assessing job applications.

  • March 9, 2018

    3 Firms To Guide IPOs Totaling $286M, Led By 'Unicorn'

    Three firms will steer initial public offerings projected to raise about $286 million during the week of March 12, representing life sciences, banking and technology companies, including the year’s first “unicorn” IPO, potentially igniting a busier season for deals.

  • March 9, 2018

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

    The last week has seen a BMW plant lodge a commercial fraud claim against Barclays, another dispute between Barents Re and Petróleos de Venezuela's captive insurer and AXA take on a rival private health insurer.

  • March 9, 2018

    Wilmington Trust Execs' Fraud Trial Set To Begin In Del.

    Federal prosecutors were poised for a second time Friday to take four Wilmington Trust Corp. executives to trial in Delaware on securities fraud and related charges for allegedly hiding more than $1 billion in past due loans, in a case that will likely hinge on disputed loan status reporting mandates.

Expert Analysis

  • Examining SEC’s 2018 Exam Priorities

    James Lundy

    The U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations deserves credit for the increased transparency and guidance provided in its 2018 priorities letter. That said, the OCIE is clearly prioritizing the protection of retail investors even more than in years past, say attorneys with Drinker Biddle & Reath LLP.

  • 2nd Circ. Raises Bar For US Jurisdiction Over Foreign Banks

    Robert Reznick

    The Second Circuit's recent decision affirming the dismissal of UBS from a Madoff case is useful for foreign banks facing U.S. litigation. The decision is a reminder that, for purposes of general personal jurisdiction, corporate structure matters, say attorneys with Orrick Herrington & Sutcliffe LLP.

  • Website Accessibility Suits Highlight Need For DOJ Rule

    David Baris

    Financial institutions are the latest target of website accessibility suits under the Americans with Disabilities Act, with New York and Florida seeing a significant uptick in such litigation this year. These cases are not easily dismissed, and compliance risk remains high in the absence of a clear standard from the U.S. Department of Justice, say David Baris and Lori Sommerfield of Buckley Sandler LLP.

  • In Somers, High Court Takes Us Back To 2014

    Scott Oswald

    Justice Ruth Bader Ginsburg’s opinion in Digital Realty Trust v. Somers, which put a tight limit on anti-retaliation protections under the Dodd-Frank Act, emerged on Wednesday as the obverse of her 2014 opinion in Lawson. The real-world impact of Somers is likely to be immediate and somewhat perverse, says Scott Oswald of The Employment Law Group PC.

  • Understanding Texas Mechanic's Liens And Bonds: Part 2

    Excerpt from Lexis Practice Advisor

    Texas is home to relatively complex statutory frameworks for liens and bonds used to secure payment for services rendered. Statutory and constitutional liens provide powerful remedies for nonpayment, but only if the proper guidelines are strictly observed, says David Tolin of Cokinos Young in the second part of this article.

  • A Review Of Cross-Border Investigations In 2017: Part 2

    Sunil Gadhia

    Global authorities are taking an increasingly coordinated approach toward the investigation and prosecution of economic misconduct. Further significant developments in 2018 will likely refine the manner in which such investigations are approached, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • A Review Of Cross-Border Investigations In 2017: Part 1

    Sunil Gadhia

    A number of significant corporate resolutions were reached in 2017, which have provided guidance on the level of cooperation expected by criminal and civil authorities, primarily in Europe. Meanwhile, the divergent approaches to legal privilege taken by courts in different jurisdictions provide significant challenges to those conducting cross-border internal investigations, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Lessons From Rabobank's Anti-Money Laundering Failures

    Michael Gertzman

    Rabobank's $368 million resolution of an investigation into the bank's anti-money laundering program has several parallels with other recent Bank Secrecy Act actions that financial institutions may wish to consider in assessing their compliance programs, say attorneys with Paul Weiss Rifkind Wharton & Garrison LLP.

  • Understanding Texas Mechanic's Liens And Bonds: Part 1

    Excerpt from Lexis Practice Advisor
    David Tolin

    Texas is home to relatively complex statutory frameworks for liens and bonds used to secure payment for services rendered. Statutory and constitutional liens provide powerful remedies for nonpayment, but only if the proper guidelines are strictly observed, says David Tolin of Cokinos Young.

  • A Look At US And EU Fintech Regulatory Frameworks

    Brian Christiansen

    The regulatory fragmentation on the federal level, and at the U.S. state and EU member state levels, presents challenges and uncertainty for many fintech companies. The resolution of these uncertainties will directly impact the evolution of this sector, say attorneys with Skadden Arps Slate Meagher & Flom LLP.