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Banking
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December 19, 2025
FINRA Fines BofA Unit Over Order Routing Disclosures
Bank of America's securities unit will pay $225,000 to the Financial Industry Regulatory Authority to end claims it published error-filled reports about how it handled customer securities orders, FINRA has announced.
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December 19, 2025
Loan Co. Strikes $750K Deal To End EEOC Disability Bias Suit
The U.S. Equal Employment Opportunity Commission and a loan company have asked a Georgia federal court to approve a $750,000 deal to end a suit alleging it fired an employee who asked for time off to recover from two major heart attacks.
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December 19, 2025
Texas Justices Order Redo For BofA Building Valuation
The Texas Supreme Court on Friday ordered a redo in a valuation that saw Bank of America communicate with a supposedly neutral appraiser ahead of time, saying that a trial court improperly confirmed an $8 million appraisal of a Houston property.
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December 19, 2025
Cadence Bank Seeks 1st Nod For $5.25M Data Breach Deal
Cadence Bank has reached a $5.25 million deal to end negligence claims it faced in multidistrict litigation over the May 2023 breach of file transfer application MOVEit, a consumer affected by the breach has informed a Boston federal judge.
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December 19, 2025
More Pardon Seekers Going 'Straight To The White House'
A nonprofit's unusual plan to make a mass pardon request directly to the Trump administration highlights burgeoning optimism among white collar defendants about their chances of securing relief, and a recognition that the clearest path to clemency no longer runs through the traditional channels.
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December 19, 2025
Disbarred Calif. Lawyer Gets 18 Mos. For Advance Fee Fraud
A Manhattan federal judge sentenced a disbarred California lawyer to 18 months in prison Friday for scheming to reap $4 million in advance fees for bogus letters of credit while holding himself out as chief of compliance for a fake bank.
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December 19, 2025
Borrowers Win Cert. In NC Mortgage Phone Payment Fees Suit
A North Carolina federal judge has certified a class of North Carolina borrowers who claim their loan servicer charged them exorbitant processing fees for paying their monthly mortgage by phone, finding there are common questions that are best resolved in a class action.
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December 19, 2025
Calif. Ex-Customs Broker Sentenced For Tax, Wire Fraud
A California man was sentenced to 51 months in federal prison after being indicted this year on federal fraud charges and one count of tax evasion, the U.S. Department of Justice said.
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December 19, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the designer of an 88-facet diamond bring a copyright claim against a luxury watch retailer, collapsed firm Axiom Ince bring legal action against the solicitors' watchdog, and the Post Office hit with compensation claims from two former branch managers over their wrongful convictions during the Horizon information technology scandal.
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December 18, 2025
Energy Transfer Wants Action On $345M Greenpeace Verdict
Energy Transfer begged a North Dakota state judge Thursday to enter final judgment on a $345 million defamation and property damage verdict over the Dakota Access pipeline protests, saying the case is "off the procedural map," and it heard from the judge an acknowledgment that it's taken over his professional life.
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December 18, 2025
OCC Ends Citi Risk Management Resource Review Order
The Office of the Comptroller of the Currency on Thursday formally ended a 2024 amendment to a previous consent order against Citibank over its risk management practices, with Citibank saying the relevant remediation programs are "nearly at target-state."
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December 18, 2025
NY Jury In FARA Trial Over China Ties Says It's Deadlocked
The Brooklyn federal jury weighing the fate of a former top New York gubernatorial aide accused of secretly acting as a foreign agent for China said Thursday that it cannot reach a unanimous verdict, after five days of deliberations.
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December 18, 2025
Trump's Picks To Lead FDIC, CFTC Win Senate Approval
The U.S. Senate on Thursday signed off on two more of President Donald Trump's picks for top financial regulator jobs, confirming Travis Hill and Michael Selig as chairs of the Federal Deposit Insurance Corp. and Commodity Futures Trading Commission, respectively.
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December 18, 2025
Apollo Could Fetch $12B For Atlas Air, And More Rumors
The past week saw no lack of chatter about potential sales, backdoor discussions, fundraises, initial public offerings and activist investor power moves.
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December 18, 2025
New NJ Rules Combat AI And Housing Discrimination
The use of artificial intelligence in hiring practices is among the areas targeted by a sweeping new mandate enacted by New Jersey's Division on Civil Rights meant to shore up protections against discrimination.
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December 18, 2025
Settlement Admin, Bank Conspiracy Suits Consolidated In DC
A group of putative class actions alleging a wide-ranging kickback scheme between three of the largest settlement administration companies in the country and banks that was designed to juice administration fees while diminishing class action payouts has been consolidated in D.C. federal court.
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December 18, 2025
Compliance Chiefs' Enforcement Risks Didn't Ease Up In 2025
The landscape for chief compliance officers' liability might relax a bit in the coming years as experts anticipate the Trump administration will rely less on a "failure to supervise" theory of liability that financial regulators used to target one chief compliance officer this year.
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December 18, 2025
Car Dealer Credit Check Co. Sued Over Breach Affecting 5.8M
A company that handles credit inquiries for car dealerships is facing a proposed class action accusing it of negligence, following a cyberattack on its systems in October that compromised the personal information of more than 5.8 million people.
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December 17, 2025
JPMorgan Ex-Advisers Sue Over Alleged Race And Sex Bias
JPMorgan Chase & Co. and its broker-dealer unit are facing claims they discriminated against two Black women who had worked for the companies as financial advisers, giving them unfavorable branch assignments and leave-related client reassignments while later forcing them to take lower-paying remote jobs they eventually had to quit.
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December 17, 2025
Ex-Goldman Banker Can't Dodge Ghana Bribery Charges
A New York federal judge on Wednesday shot down a former Goldman Sachs banker's bid to escape charges over a purported scheme to bribe Ghanaian officials to greenlight a power plant deal, rejecting defense claims of improper sealing and speedy trial violations.
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December 17, 2025
Trump Admin Asks Fed Whether It's Back In The Black
The U.S. Department of Justice on Tuesday asked the Federal Reserve to confirm whether it has returned to profitability, a potential opening for the Trump administration to draw new funding for the Consumer Financial Protection Bureau after insisting none is available.
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December 17, 2025
SEC Again Flags Adviser Testimonials, Ratings In Marketing
The U.S. Securities and Exchange Commission's Division of Examinations has again flagged advisers' disclosures regarding their use of testimonials, endorsements and third-party ratings in advertisements, saying staff have observed noncompliance with commission rules in those areas.
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December 17, 2025
DC Circ. Grants En Banc Hearing On CFPB Layoff Plan
Additional D.C. Circuit judges will get to weigh in on the Trump administration's bid to dismantle the Consumer Financial Protection Bureau through mass layoffs, after the appeals court granted the agency's employees' union an en banc rehearing on a lower court's injunction stopping the firings.
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December 17, 2025
2 Firms Guide $192M Northern California Bank Merger
Northern California's Community West Bank and United Security Bank on Wednesday announced plans to merge by the middle of next year in a $192 million deal guided by Otteson Shapiro LLP and Stuart Moore Staub.
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December 17, 2025
Shutdown Deal Bars Federal Firings Until Feb., Judge Says
A California federal judge said Wednesday she'll grant a preliminary injunction barring layoffs of federal workers from several agencies before Jan. 30, saying legislation that ended the government shutdown prohibits the layoffs, but she added she might pause her order while the government appeals.
Expert Analysis
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Questions To Ask Your Client When Fraud Taints Financing
As elevated risk levels yield fertile conditions for fraud in financing transactions, asking corporate clients the right investigative questions can help create an action plan, bring parties together and help clients successfully survive any scam, says Mark Kirsons at Morgan Lewis.
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Series
Mindfulness Meditation Makes Me A Better Lawyer
Mindful meditation enables me to drop the ego, and in helping me to keep sight of what’s important, permits me to learn from the other side and become a reliable counselor, says Roy Wyman at Bass Berry.
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AI Litigation Tools Can Enhance Case Assessment, Strategy
Civil litigators can use artificial intelligence tools to strengthen case assessment and aid in early strategy development, as long as they address the risks and ethical considerations that accompany these uses, say attorneys at Barnes & Thornburg.
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Post-Genius Landscape Reveals Technical Stablecoin Hurdles
The Genius Act's implementation has revealed challenges for mass stablecoin adoption, but there are several factors that stablecoin issuers can use to differentiate themselves and secure market share, including interest rate, liquidity, and safety and security, say attorneys at Olshan Frome.
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Attys Beware: Generative AI Can Also Hallucinate Metadata
In addition to the well-known problem of AI-generated hallucinations in legal documents, AI tools can also hallucinate metadata — threatening the integrity of discovery, the reliability of evidence and the ability to definitively identify the provenance of electronic documents, say attorneys at Law & Forensics.
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What May Be Ahead In Debanking Enforcement
President Donald Trump's executive order on politicized or unlawful debanking has spurred a flurry of activity by the federal banking regulators, so banks should expect debanking-related complaints submitted by consumers to increase, and for federal regulators to look for more enforcement opportunities, say attorneys at Bradley Arant.
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SEC Crypto Custody Relief Offers Clarity For Funds
A recent U.S. Securities and Exchange Commission staff letter supplies a workable path for registered investment advisers and funds seeking to offer crypto custody services by using state trust companies, and may portend additional useful guidance regarding crypto custody, say attorneys at Morgan Lewis.
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When Atty Ethics Violations Give Rise To Causes Of Action
Though the Model Rules of Professional Conduct make clear that a violation of the rules does not automatically create a cause of action, attorneys should beware of a few scenarios in which they could face lawsuits for ethical lapses, says Brian Faughnan at Faughnan Law.
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What CFTC Push For Tokenized Collateral Means For Crypto
The Commodity Futures Trading Commission's recent request for comment on the use of tokenized products as collateral in derivatives markets signals that it is expanding the scope and form of eligible collateral, and could broaden the potential use cases for crypto-assets held in tokenized form, say attorneys at Dechert.
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H-1B Fee Guidance Is Helpful But Notable Uncertainty Persists
Recent guidance narrowing the scope of the $100,000 entry fee for H-1B visas will allow employers to plan for the hiring season, but a lack of detail about the mechanics of cross-agency payment verification, fee exemptions and other practical matters still need to be addressed, say attorneys at Klasko Immigration Law Partners.
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Indiana Law Sets New Standard For Wage Access Providers
The recent enactment of a law establishing a comprehensive regulatory framework for earned wage access positions Indiana as one of the leading states to allow EWA services, and establishes a standard that employers must familiarize themselves with before the Jan. 1 effective date, say attorneys at Faegre Drinker.
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Series
Practicing Stoicism Makes Me A Better Lawyer
Practicing Stoicism, by applying reason to ignore my emotions and govern my decisions, has enabled me to approach challenging situations in a structured way, ultimately providing advice singularly devoted to a client's interest, says John Baranello at Moses & Singer.
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How Courts Treat Nonservice Clauses For Financial Advisers
Financial advisers considering a job change should carefully consider recent cases that examine controlling state law for nonservice and nonacceptance provisions to prepare for potential legal challenges from former firms, says Andrew Shedlock at Kutak Rock.
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Series
The Biz Court Digest: Texas, One Year In
A year after the Texas Business Court's first decision, it's clear that Texas didn't just copy Delaware and instead built something uniquely its own, combining specialization with constitutional accountability and creating a model that looks forward without losing touch with the state's democratic and statutory roots, says Chris Bankler at Jackson Walker.
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AI Product Safety Insights May Expand Foreseeability
Product liability law has long held that companies are responsible for risks they knew about or should have known about — and with AI systems now able to assess and predict hazards during the design process, companies should expect that courts will likely treat such hazards as foreseeable, says Donald Fountain at Clark Fountain.