Banking

  • April 21, 2025

    CFPB Says Experian Can't Escape Suit Over Credit Reporting

    The Consumer Financial Protection Bureau has asked a California federal judge to keep alive its lawsuit accusing Experian of mishandling consumer credit reporting disputes, arguing that the credit reporting agency "grossly mischaracterizes the complaint's allegations."

  • April 21, 2025

    Ex-JPMorgan Worker's PAGA Claim May Be Arbitrated

    A California judge indicated Monday she may send to arbitration a former JPMorgan Chase Bank worker's individual claim brought under the Private Attorneys General Act alleging the bank encouraged workers to perform off-the-clock work but failed to pay them accordingly, issuing a tentative order that would split off her representative claims and pause them.

  • April 21, 2025

    Academics Say FTC Firings Threaten Fed, Economic Stability

    Law and economics professors have told a D.C. federal court that failing to reinstate the recently fired members of the Federal Trade Commission puts the independence of the Federal Reserve System at risk and threatens to hurt the economy.

  • April 21, 2025

    Taiwan Installs Tariff Relief Measures For Exporters

    Certain Taiwanese businesses that export goods to the U.S. will have access to lower loan interest rates and waived exporter insurance fees if they can show they are heavily impacted by U.S. tariffs, Taiwan's Ministry of Finance said Monday.

  • April 21, 2025

    US Asks 4th Circ. To Pause Review Of Corp. Transparency Act

    The U.S. government urged the Fourth Circuit to pause a challenge brought by community associations against an information disclosure law aimed at small businesses, arguing that the U.S. Treasury Department's newly narrowed rules could moot the claims.

  • April 21, 2025

    Unions Demand Halt To DOGE's Info Access At DOL, HHS

    A D.C. federal judge must block Elon Musk's Department of Government Efficiency from accessing sensitive systems in the U.S. Department of Labor and Department of Health and Human Services, unions argued in a preliminary injunction bid, saying the government's search for "waste, fraud and abuse" doesn't warrant access.

  • April 21, 2025

    Unions Score Block On Orders To Fire Probationary Workers

    A California federal judge blocked the Office of Personnel Management from ordering federal agencies to fire probationary employees and stopped several agencies from heeding its directives, but he declined to order them to rehire the workers they've already let go.

  • April 21, 2025

    Justices Pass On Damages Fight In Trading Patent Case

    The U.S. Supreme Court on Monday skipped a case brought by the winner of a $6.6 million patent infringement verdict who has argued that the Federal Circuit wrongly denied its bid to increase those damages after it said it discovered fraud in the proceedings.

  • April 18, 2025

    FDIC Eases Big Banks' 'Living Will' Requirements

    The Federal Deposit Insurance Corp. moved Friday to spare large banks from certain requirements for what should go into the next version of their so-called living wills, saying it wants to put more emphasis on planning for quicker, potentially weekend sales of failing banks.

  • April 18, 2025

    JPMorgan, BofA Face GOP Pressure Over Chinese Co.'s IPO

    The chair of a China-focused U.S. House committee has urged Bank of America and JPMorgan Chase & Co. not to underwrite a Hong Kong initial public offering of Contemporary Amperex Technology Co. Ltd. over concerns the Chinese electric car battery maker is affiliated with the Chinese military.

  • April 18, 2025

    Murdaugh's Banker Pleads Guilty To Fraud Ahead Of Retrial

    A former bank CEO accused of helping ex-lawyer and convicted murderer Alex Murdaugh steal client money pled guilty Friday to fraud ahead of a retrial, months after his initial conviction was overturned based on jury irregularities.

  • April 18, 2025

    Cannabis Co. Says Lender Lied About Default To Steal Funds

    A cannabis company with facilities in New Jersey and Pennsylvania has alleged in Garden State federal court that its lender lied about the company being in default in order to steal funds out of two of the company's bank accounts and claims it shows no sign of stopping.

  • April 18, 2025

    Santander Not Responsible For Customer's Bad Crypto Buys

    Santander Bank is not liable for more than $750,000 lost by a customer to a cryptocurrency scam, a Massachusetts intermediate appellate court said Friday.

  • April 18, 2025

    CFTC Details Violation Materiality After Cooperation Guidance

    Divisions of the U.S. Commodity Futures Trading Commission have offered details on their materiality standards for assessing supervision and noncompliance issues, following February guidance on how much money regulated entities can expect to save for cooperating with agency investigations.

  • April 18, 2025

    Feds Seek Up To 6 Years For Ex-Bank GC's $7.4M Theft

    A former general counsel for a Webster Bank predecessor should serve between 51 and 71 months behind bars and pay full restitution after admitting he spent eight years embezzling $7.4 million, federal prosecutors argue.

  • April 18, 2025

    Ohio AG Accuses Mortgage Lender Of Deceiving Borrowers

    Ohio's attorney general has hit United Wholesale Mortgage LLC with a lawsuit in state court accusing the Michigan-based lender of colluding with mortgage brokers to steer loans to UWM.

  • April 18, 2025

    Castlelake, Invictus Partner For $2B Residential Loan Venture

    Global alternative investment manager Castlelake LP announced that it has formed a partnership with alternative credit asset manager Invictus Capital Partners to invest up to $2 billion in newly originated residential mortgages.

  • April 18, 2025

    Taxation With Representation: Davis Polk, Simpson Thacher

    In this week's Taxation With Representation, Global Payments Inc. buys Worldpay from GTCR and FIS, Intel Corp. sells a stake in its Altera business to Silver Lake, KKR acquires OSTTRA from S&P Global and CME Group, and Canada's Capital Power Corp. nabs two U.S. natural gas power plants.

  • April 18, 2025

    CFPB Mass Layoffs Blocked Again In DC Court

    A D.C. federal judge once again halted the layoffs of more than 1,000 employees of the Consumer Financial Protection Bureau, saying at an emergency hearing Friday morning that she needed a full record to determine whether the firings complied with a D.C. Circuit order from last week.

  • April 18, 2025

    Capital One's Discover Deal Gets Bank Regulators' Approval

    Capital One on Friday received the last regulatory sign-offs needed for its $35 billion purchase of Discover, putting the megadeal on track to close for the former while also clearing the decks of a more than $1 billion enforcement matter for the latter.

  • April 17, 2025

    Judge Warns Rocket Cos. Investor: Seek Cert. At 'Own Peril'

    A Michigan federal judge on Thursday said a pension fund trying to take over as lead plaintiff in a suit against mortgage business Rocket Companies Inc. does not need the court's permission to file a renewed class certification motion, but it "does so at its own peril."

  • April 17, 2025

    Prudential Financial Beats Certified Privacy Class Action

    A California federal judge on Thursday entered a summary judgment favoring Prudential Financial and a software vendor in a certified class action accusing them of illegally recording consumer information in violation of the state's invasion of privacy law, finding that no evidence showed the vendor read or tried to read customers' communications.

  • April 17, 2025

    DC Circ. Refreezes EPA Climate Grant Funds

    The D.C. Circuit has paused a federal court's order directing Citibank to start disbursing funds to nonprofits undertaking climate change projects that were appropriated by Congress to the U.S. Environmental Protection Agency during the Biden administration.

  • April 17, 2025

    CFPB Mass Layoffs Resume, Hitting All Corners Of Agency

    The Consumer Financial Protection Bureau's acting Director Russell Vought moved Thursday to resume mass firings at the agency, prompting a scramble from its employee union to head off a torrent of pink slips terminating the vast majority of the agency's workforce.

  • April 17, 2025

    AFL-CIO, Unions Can Pursue Some DOGE Access Claims

    The AFL-CIO, unions and advocacy groups may pursue allegations that Elon Musk's Department of Government Efficiency lacks the power to access data from the U.S. Department of Labor and other federal agencies, a D.C. federal judge ruled while tossing some claims under federal administrative and privacy law.

Expert Analysis

  • Litigation Funding Disclosure Debate: Strategy Considerations

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    In the ongoing debate over whether courts should require disclosure of litigation funding, funders and plaintiffs tend to argue against such mandates, but voluntarily disclosing limited details about a funding arrangement can actually confer certain benefits to plaintiffs in some scenarios, say Andrew Stulce and Marc Cavan at Longford Capital.

  • 2025 May Be A Breakout Year For The Cannabis Industry

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    The cannabis industry faced a slow and frustrating 2024, but consumer trends continue to shift in favor of cannabis, and the new administration may provide the catalyst that the industry needs, says Lynn Gefen at TerrAscend.

  • Mass. Law Shows Patchwork Money Transfer Rules Persist

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    Though Massachusetts' recently passed law governing domestic money transfers means 26 states now have a version of the Model Money Transmission Modernization Act on the books, the national framework remains a patchwork that will continue to force industry players to pay sharp attention to state variations, say attorneys at Manatt.

  • Top Considerations For Insurance Companies In 2025

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    As insurance industry participants look to plan for the year, regulatory changes, climate-related challenges, the ongoing effects of social inflation and the potential for significant mergers and acquisitions will be among the key items for insurer boards and management to have on their radar, say attorneys at Debevoise.

  • Scope And Nature Of Judicial Relief Will Affect Loper's Impact

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    The practical result of post-Loper Bright rulings against regulatory actions will depend on the relief courts grant — and there has been controversy in these types of cases over whether the ruling is applied just to the parties or nationwide, and whether the action can be left in place while it's corrected, says Steven Gordon at Holland & Knight.

  • The Implications Of E-Cigarette Cos. Taking Suits To 5th Circ.

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    The U.S. Supreme Court recently heard oral arguments in U.S. Food and Drug Administration v. R.J. Reynolds over the definition of an "adversely affected" person under the Tobacco Control Act, and the justices' ruling will have important and potentially wide-ranging implications for forum shopping claims, says Trillium Chang at Zuckerman Spaeder.

  • Del. Dispatch: Lessons From Failed Albertsons-Kroger Merger

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    The allegations in Albertsons' lawsuit against Kroger following the grocery stores' blocked merger demonstrate how a target company can best ensure that a buyer timely and effectively complies with its obligations to pursue the necessary regulatory approvals for a deal, say attorneys at Fried Frank.

  • Series

    Adventure Photography Makes Me A Better Lawyer

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    Photographing nature everywhere from Siberia to Cuba and Iceland to Rwanda provides me with a constant reminder to refresh, refocus and rethink the legal issues that my clients face, says Richard Birmingham at Davis Wright.

  • How Cos. Can Respond To CFPB Digital Asset Safeguard Plan

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    Though the Consumer Financial Protection Bureau’s proposal to regulate online payment platforms via existing federal laws would create new challenges, digital payment companies that engage with the rulemaking process could help shape a win-win regulatory framework that protects consumer data and ensures the sector’s growth, says Allison Raley at Arnall Golden.

  • How Ch. 11 Can Alleviate Merchant Cash Advance Concerns

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    Merchant cash advance funding is one of the biggest challenges for small businesses today because funders are so prevalent, aggressive and expensive, but bankruptcy can provide several tools for dealing with MCA agreements that may allow the debtor business to restructure and survive, says Patricia Fugée at FisherBroyles.

  • Future Of Crypto-Asset Classification Is In 2nd Circ.'s Hands

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    A definitive ruling from the Second Circuit in a rare interlocutory appeal in the U.S. Securities and Exchange Commission's ongoing court battle with Coinbase could finally establish clear guidelines on the classification of digital assets, influencing how they are regulated and traded in the U.S., say attorneys at Manatt.

  • 5 Ways To Create Effective Mock Assignments For Associates

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    In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.

  • Assessing Gary Gensler's Legacy At The SEC

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    Gary Gensler's tenure as U.S. Securities and Exchange Commission chair is defined by a record of commonsense regulation in some areas and social activism in others, and by increasing judicial skepticism about the SEC's authority to fulfill its regulatory, enforcement, administrative law and adjudicatory functions, say attorneys at Arnold & Porter.

  • Takeaways From DOJ Fraud Section's 2024 Year In Review

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    Attorneys at Paul Weiss highlight notable developments in the U.S. Department of Justice Fraud Section’s recently released annual report, and discuss what the second Trump administration could mean for enforcement in the year to come.

  • A Defendant's Guide To 4 Common CFPB Discovery Tactics

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    With the Consumer Financial Protection Bureau's recent flurry of new lawsuits showing no signs of stopping, defendants should know the bureau's most relied-upon discovery strategies — and be prepared to resist them, say attorneys at Goodwin.

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