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Banking
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December 02, 2025
PennyMac Can't Shed 'Pay-To-Pay' Borrower Class Action
Residential mortgage servicer PennyMac Loan Services LLC can't shed a proposed class action alleging it unfairly charged borrowers "pay-to-pay" fees, a North Carolina federal judge has said, saying the servicer's assertion that it doesn't collect or receive the relevant fees is an issue for a later stage in the proceedings.
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December 02, 2025
FDIC Secures Dismissal Of SVB Cayman Deposit Suit
A California federal judge has permanently tossed a suit against the Federal Deposit Insurance Corp. brought by liquidators of the Cayman Islands branch of collapsed Silicon Valley Bank, finding they lack standing to sue the agency and are barred from relitigating issues already decided in bankruptcy court.
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December 02, 2025
Ex-Amerant Bank Exec Claims Retaliation For Whistleblowing
Amerant Bank has been hit with a suit in Florida state court accusing it of ousting a senior vice president for speaking out against alleged prohibited activity at the bank, including several violations the former executive says were carried out by the bank's trust department.
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December 02, 2025
Wells Fargo Beneficiary's Hidden Trust Claims Are Too Late
Wells Fargo has beaten claims that it intentionally concealed a Massachusetts man's trust fund and drove him to financial instability, after a federal judge found the man didn't take appropriate steps to find his trust decades earlier.
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December 02, 2025
Ex-Estate Trustee Dodges Jail In $16M Mismanagement Suit
A Connecticut state court judge has declined to jail or otherwise sanction a former trustee in a discovery dispute over his use of $16 million in family trust assets to secure lines of credit and invest in Vietnamese real estate, but he wants document production issues resolved "as expeditiously as possible."
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December 02, 2025
MVP: Paul Hastings' Jennifer St. John Yount
Jennifer St. John Yount of Paul Hastings LLP worked with several major banks and credit lenders over the past year in complex, "jumbo" transactions, including advising a syndicate of private credit lenders in providing financing for Clearlake Capital's $5.3 billion majority growth investment in an AI-powered healthcare platform, earning her a spot as one of the 2025 Law360 Banking MVPs.
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December 02, 2025
3rd Circ. Weighs 'Information' Meaning In Credit Report Rift
A panel of the Third Circuit on Tuesday considered whether Experian acted reasonably when it reported that a New Jersey consumer was behind on child support payments despite the consumer's efforts to dispute that report's accuracy, questioning whether the purported delinquency had to be reported in the first place.
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December 02, 2025
SEC's Atkins Pushes To Broaden Small Business Criteria
U.S. Securities and Exchange Commission Chairman Paul Atkins said on Tuesday that the agency should push to change the definition of small business so that more publicly traded companies can forgo what he considers to be burdensome regulatory requirements.
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December 02, 2025
Santander Scores $472M For 3.5% Stake In Polish Unit
Banco Santander SA announced Tuesday it sold 3.5% of equity in its Polish subsidiary, Santander Bank Polska, through an accelerated placement that raised roughly PLN 1.72 billion, or about $472 million.
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December 01, 2025
Bristol-Myers Must Face Trimmed $6.7B Celgene Investor Suit
A Manhattan federal judge Monday trimmed UMB Bank's lawsuit accusing Bristol-Myers Squibb of slow-walking the U.S. Food and Drug Administration approval process for three drugs to avoid paying shareholders $6.7 billion owed from its 2019 acquisition of Celgene Corp.
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December 01, 2025
Fed Sees Shrinking Number Of Open Exam Findings At Banks
The Federal Reserve on Monday reported broad declines in open supervisory issues at financial institutions under its oversight during the first half of the year, a shift that comes as the Trump administration is pursuing efforts to rein in examiner criticism of banks.
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December 01, 2025
DC Circ. Wonders If SEC Arbitration Decision Was Too Brief
At least one judge on the D.C. Circuit wondered Monday whether the SEC presented too "bare bones" of an opinion when rejecting a petition to amend three long-running arbitration rules adopted by the Financial Industry Regulatory Authority.
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December 01, 2025
State AGs Demand Info From 'Buy Now, Pay Later' Lenders
A multistate coalition of seven attorneys general has launched a probe into the terms and fees set by "buy now, pay later" lenders that are popular with shoppers, saying they're concerned that the companies' products could be breaking consumer protection laws.
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December 01, 2025
White House Crypto Czar Hired Clare Locke Amid NYT Probe
The tech founder-turned-White House crypto and artificial intelligence czar David Sacks has hired defamation specialists at Clare Locke LLP to combat a New York Times investigation into potential conflicts of interest arising from his personal tech investments and role as a White House policy adviser.
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December 01, 2025
Lenders Accused Of Ousting, Failing To Pay Lending Exec
A lending executive sued Community Bankshares Inc. and three related entities in Georgia federal court, alleging they persuaded him to invest $2 million in personal capital plus nine months of work into making their businesses profitable before terminating him and denying him promised conversion and equity rights, compensation and bonuses.
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December 01, 2025
CFTC's Pham Expands 'Due Process' For Enforcement Targets
The U.S. Commodity Futures Trading Commission announced changes to its investigation process Monday that the acting chair said are meant to protect the due process rights of those who are accused of wrongdoing by agency attorneys.
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December 01, 2025
MVP: A&O Shearman's Adam Hakki
A&O Shearman's Adam Hakki beat back investor derivative claims against Bank of America, helped douse securities litigation against Norfolk Southern's underwriters and freed PayPal from a high-dollar stock fraud suit, earning a place as one of the 2025 Law360 Banking MVPs.
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December 01, 2025
Loan Co. Can't Avoid Cannabis Co.'s Contract Breach Suit
A New Jersey federal judge won't let a lender escape a cannabis company's allegations that the lender falsely held it in default so it could seize almost $2 million, saying the complaint sufficiently alleged that the lender went back on enforceable promises.
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November 28, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the National Crime Agency target an Azerbaijan politician and a subsidiary of Withers over a disputed £50 million ($66 million) property portfolio, the eldest son of a British aristocratic family challenge the trustees of their multimillion-pound estate, and a sports lawyer suspected of dishonesty face action by the Solicitors Regulation Authority following his firm's closure.
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November 26, 2025
4th Circ. Clears Lender In Kuwaiti Royal Fraud Case
World Business Lenders LLC secured a modest windfall in the Fourth Circuit on Wednesday after a panel said the small business lender was not "willfully blind" to financial fraud against a member of the Kuwaiti royal family and reversed a lower court's judgment that ordered WBL to pay over $704,000 in compensatory and punitive damages.
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November 26, 2025
Title Co., Investor Must Split Blame In $13M Escrow Fraud Suit
A title company is partially liable for mishandling $13 million wired into escrow by an investor seeking a 50% ownership interest in a 17-hotel deal, a California federal judge ruled, finding that the title company owed the investor a duty of reasonable care.
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November 26, 2025
Colo. Group Says Oil, Gas Fees Are Taxes That Violate TABOR
A nonprofit conservative advocacy group told a Colorado state court Tuesday that a 2024 law which imposes new fees on oil and gas producers is actually a tax and should be subject to a public vote as required by the Colorado Taxpayer's Bill of Rights.
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November 26, 2025
Investor Suit Over Failed TD Bank-First Horizon Deal Tossed
A New Jersey federal judge dismissed an investor class action over TD Bank's failed $13.4 billion merger with First Horizon Corp., finding that First Horizon investors can't sue because they never held TD Bank shares and the deal didn't close.
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November 26, 2025
Justices Delay Copyright Chief Case Until FTC Firing Decision
The U.S. Supreme Court said it will defer ruling on whether the Trump administration's firing of the U.S. Copyright Office leader was legal until the justices resolve cases involving the terminations of a Democratic Federal Trade Commission member and Federal Reserve Gov. Lisa Cook.
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November 26, 2025
Switzerland Delays Crypto Info Swaps With Tax Authorities
Switzerland will not automatically exchange information on cryptocurrency accounts with foreign tax authorities until at least 2027, although rules governing the exchanges are being adopted into law, the country's executive branch said Wednesday.
Expert Analysis
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Series
Writing Musicals Makes Me A Better Lawyer
My experiences with writing musicals and practicing law have shown that the building blocks for both endeavors are one and the same, because drama is necessary for the law to exist, says Addison O’Donnell at LOIS Law.
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Genius Act Poses Strategic Hurdles For Community Banks
The pace of change in digital asset policy, including the recent arrival of the Genius Act, suggests that strategic planning should be a near-term priority for community banks, with careful attention to customer relationships, regulatory developments and the local communities they serve, say attorneys at Jones Walker.
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Series
Adapting To Private Practice: From Va. AUSA To Mid-Law
Returning to the firm where I began my career after seven years as an assistant U.S. attorney in Virginia has been complex, nuanced and rewarding, and I’ve learned that the pursuit of justice remains the constant, even as the mindset and client change, says Kristin Johnson at Woods Rogers.
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Considerations For Cos. Amid Wave Of CFPB Vacatur Bids
As some entities look to vacate prior voluntary agreements with the Consumer Financial Protection Bureau, there are several considerations companies should take into account before seeking to vacate their settlements in the current legal and regulatory environment, says Jasmine Jean-Louis at Goodwin.
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Rebutting Price Impact In Securities Class Actions
Defendants litigating securities cases historically faced long odds in defeating class certification, but that paradigm has recently begun to shift, with recent cases ushering in a more searching analysis of price impact and changing the evidence courts can consider at the class certification stage, say attorneys at Katten.
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7 Document Review Concepts New Attorneys Need To Know
For new associates joining firms this fall, stepping into the world of e-discovery can feel like learning a new language, but understanding a handful of fundamentals — from coding layouts to metadata — can help attorneys become fluent in document review, says Ann Motl at Bowman and Brooke.
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Senate Bill Could Overhaul Digital Asset Market Structure
The Senate Banking Committee's draft Responsible Financial Innovation Act would not only clarify the roles and responsibilities of financial institutions engaging in digital asset activities but also impose new compliance regimes, reporting requirements and risk management protocols, say attorneys at Troutman.
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Stablecoin Committee Promotes Uniformity But May Fall Short
While the Genius Act's establishment of the Stablecoin Certification Review Committee will provide private stablecoin issuers with more consistent standards, fragmentation remains due to the disparate regulatory approaches taken by different states, say attorneys at Morgan Lewis.
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Agentic AI Puts A New Twist On Attorney Ethics Obligations
As lawyers increasingly use autonomous artificial intelligence agents, disciplinary authorities must decide whether attorney responsibility for an AI-caused legal ethics violation is personal or supervisory, and firms must enact strong policies regarding agentic AI use and supervision, says Grace Wynn at HWG.
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The Consequences Of OCC's Pivot On Disparate Impact
The Office of the Comptroller of the Currency's recent move to stop scrutinizing facially neutral lending policies that disproportionately affect a protected group reflects the administration's ongoing shift in assessing discrimination, though this change may not be enough to dissuade claims by states or private plaintiffs, says Travis Nelson at Polsinelli.
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Series
Being A Professional Wrestler Makes Me A Better Lawyer
Pursuing my childhood dream of being a professional wrestler has taught me important legal career lessons about communication, adaptability, oral advocacy and professionalism, says Christopher Freiberg at Midwest Disability.
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How FDIC Appeals Plan Squares With Fed, OCC Processes
The Federal Deposit Insurance Corp.'s recent proposal to revise its appeals process merits a fresh comparison to the appeals systems of the Federal Reserve and Office of the Comptroller of the Currency, and would provide institutions with greater transparency and independence, say attorneys at Alston & Bird.
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SEC Rulemaking Radar: The Debut Of Atkins' 'New Day'
The U.S. Securities and Exchange Commission's regulatory flex agenda, published last week, demonstrates a clear return to appropriately tailored and mission-focused rulemaking, with potential new rules applicable to brokers, exchanges and trading, among others, say attorneys at Goodwin.
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Series
Law School's Missed Lessons: Adapting To The Age Of AI
Though law school may not have specifically taught us how to use generative artificial intelligence to help with our daily legal tasks, it did provide us the mental building blocks necessary for adapting to this new technology — and the judgment to discern what shouldn’t be automated, says Pamela Dorian at Cozen O'Connor.
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Ch. 11 Ruling Voiding $2M Litigation Funding Sends A Warning
A recent Texas bankruptcy court decision that a postconfirmation litigation trust has no obligations to repay a completely drawn down $2 million litigation funding agreement serves as a warning for estate administrators and funders to properly disclose the intended financing, say attorneys at Kleinberg Kaplan.