Banking

  • September 09, 2025

    FinCEN Chief Signals Slimmer Bank Reporting On The Way

    A top U.S. financial crime watchdog told lawmakers Tuesday that federal officials could soon move to narrow transaction reporting requirements for financial institutions as part of a broader effort to ease anti-money laundering compliance burdens for industry.

  • September 09, 2025

    Heartland To Pay $18M For Charges On School Lunch Cards

    Heartland Payment Systems LLC will pay $18.25 million to approximately 5.6 million parents and caretakers to resolve a class action alleging it levied unfair surcharges when they deposited lunch money onto school-sponsored reloadable cards used by their kids, according to a final settlement approval motion filed Monday in Florida federal court. 

  • September 09, 2025

    Ex-Ill. Bank VP Sentenced To 1 Year For Role In Embezzlement

    The former vice president of the now-defunct Washington Federal Bank for Savings was sentenced to one year in prison Tuesday for his role covering up a $66 million embezzlement scheme.

  • September 09, 2025

    Why SEC, CFTC Crypto Rules 'Sprint' Could Be A Marathon

    The White House-backed push to entice the crypto industry's return to the U.S. with clearer rules is off to a quick start, but experts say the process could drag on longer than anticipated as regulators navigate competing interests of embracing the evolving digital assets market and protecting consumers.

  • September 09, 2025

    Ohio Aerospace Manufacturer Hits Ch. 11 To Rework Debt

    Cincinnati-based manufacturer CTL-Aerospace Inc. filed for Chapter 11 with at least $15 million in debt saying material sourcing troubles last year left it with an operating loss with limited funding avenues.

  • September 08, 2025

    Cleo AI Must Face Military Lending Suit Over Cash Advances

    Cleo AI must face an Army staff sergeant's proposed class action alleging it employs predatory lending practices through its cash advances that exceed the Military Lending Act's annual percentage rate cap on consumer credit, after a Washington federal judge said Monday the advances constitute as "credit" under the statute. 

  • September 08, 2025

    Split 4th Circ. Axes States' Challenge To Trump Admin Layoffs

    A split Fourth Circuit panel held Monday that a coalition of states doesn't have standing to sue the Trump administration over the mass firing of thousands of probationary government employees, finding that it was the employees — not the states — who "suffered the brunt of the harm" underlying the case.

  • September 08, 2025

    CoinShares, Infleqtion To Hit Public Markets Via SPAC Mergers

    Two separate companies, digital asset manager CoinShares International Ltd. and quantum computing company Infleqtion, on Monday announced plans to go public through mergers with special-purpose acquisition companies in two deals that combined are worth an estimated $3 billion.

  • September 08, 2025

    OCC Will Weigh 'Debanking' In Licensing, CRA Reviews

    The Office of the Comptroller of the Currency shed more light Monday on its plans for carrying out President Donald Trump's call to end so-called debanking, saying it will factor account closure concerns into its community lending exams, merger reviews and more.

  • September 08, 2025

    Fired Wells Fargo VP Claims Retaliation, Unsafe Workplace

    Wells Fargo Bank has been hit with retaliatory firing claims in Illinois federal court by a former high-ranking testing and validation executive who claims she was treated unjustly and ultimately terminated for flagging reporting inaccuracies she was concerned could violate federal banking and securities laws.

  • September 08, 2025

    Nasdaq Seeks SEC Nod To Trade Tokenized Securities

    Nasdaq said on Monday that it has submitted to the U.S. Securities and Exchange Commission its proposal to facilitate tokenized securities trading on the Nasdaq Stock Market, in an effort to "support the evolution of the markets."

  • September 08, 2025

    Bank Group Urges Supervision Reform Amid Regulatory Shift

    A banking think tank announced Monday a new campaign to persuade federal policymakers to reform bank supervision frameworks the institute described as "subjective, duplicative, tangential to material risks and extralegal," the news following on the heels of a similar proposal issued by federal regulators.

  • September 08, 2025

    Calif. Says Defunct SVB Owes State Over $76M In Taxes

    The former parent company of Silicon Valley Bank owes the state of California upward of $76 million in taxes on income from a portfolio of securities for years leading up to the bank's failure, a state taxing authority told a New York bankruptcy court.

  • September 08, 2025

    Atty Tells Disciplinary Panel $250K Demand Wasn't Blackmail

    A Pennsylvania attorney facing discipline for allegedly threatening to blackmail a client's debtor was rightfully trying to collect on a long-standing, highly litigated debt, a state disciplinary hearing panel heard Monday.

  • September 08, 2025

    PNC To Acquire Colorado-Based FirstBank In $4B Deal

    Banking giant PNC Financial Services Group Inc. on Monday announced plans to acquire Colorado-based FirstBank in a deal valued Monday at $4.1 billion and guided by Wachtell Lipton Rosen & Katz and Sullivan & Cromwell LLP.

  • September 05, 2025

    SEC Lost Year's Worth Of Gary Gensler Texts, Watchdog Says

    The U.S. Securities and Exchange Commission made "avoidable errors" that caused the agency to lose all text messages sent and received by former chair Gary Gensler for nearly a year of his tenure, some of which haven't been recovered, according to a report from the SEC's Office of Inspector General.

  • September 05, 2025

    SEC, CFTC Set Sights On Crypto In Regulatory Collab

    The U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission said Friday they are moving forward with a broad regulatory harmonization effort that they hope will encourage innovation in growing markets, and lawyers tell Law360 they expect the focus to be writing rules governing the crypto sector.

  • September 05, 2025

    Debt Relief Co. Appeals CFPB's $43M Win To 7th Circ.

    The former owner of a defunct debt relief provider and the company have filed an appeal to the Seventh Circuit to challenge a ruling ordering them to pay more than $43 million in restitution and penalties to settle claims from the Consumer Financial Protection Bureau that the firm preyed on student loan borrowers.

  • September 05, 2025

    BBVA Launching $20.4B Takeover As Sabadell Blasts Offer

    Spain's BBVA said Friday it will formally launch its hostile takeover bid for Banco Sabadell on Monday, putting the value of the deal at €17.4 billion ($20.4 billion), as Sabadell's chair and CEO quickly issued statements criticizing the offering. 

  • September 05, 2025

    Paris-Based SPAC Joins US Pipeline Targeting $100M Listing

    Greenberg Traurig LLP will lead a Paris-based blank check company's planned $100 million initial public offering targeting a diverse portfolio of U.S. companies, according to the special purpose acquisition company on Friday.

  • September 05, 2025

    Pot Co. Investors Say Ex-Partner Drained Coffers For Suits

    The members of an investment firm are suing their former business partner in California state court, alleging that he misappropriated funds from the firm to defend himself in a separate suit by another business partner accusing him of fraud.

  • September 04, 2025

    Trump Says 'Century-Old' Precedent Backs Fed Gov.'s Firing

    President Donald Trump on Thursday hit back at Federal Reserve Board Gov. Lisa Cook's motion seeking to block her termination from the central bank, telling a Washington, D.C., federal court that Cook was ignoring "century-old" U.S. Supreme Court precedent that he says forecloses review of her removal for cause.

  • September 04, 2025

    Asset Manager Seeks OK Of $53M Mexican Bank Award

    An asset management firm has urged a New York federal court to enforce a more than $53 million arbitral award it won in a dispute over management fees due under a trust agreement with a Banamex unit.

  • September 04, 2025

    SEC, CFPB Rulemaking Agendas Show Deregulatory Push

    Federal regulators overseeing the financial services sector on Thursday unveiled new rulemaking agendas that they say will return their agencies to their core missions with policies to define authority and limit compliance burdens.

  • September 04, 2025

    Goldman Investors Clinch Class Cert. In 1MDB Bribery Suit

    A New York federal judge on Thursday overruled objections raised by Goldman Sachs and fully adopted a magistrate judge's recommendation to certify a class of Goldman investors who claim losses from the 1MDB bond bribery scandal.

Expert Analysis

  • Shifting DEI Expectations Put Banks In Legal Crosshairs

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    The Trump administration's rollbacks on DEI-friendly policies create something of a regulatory catch-22 for banks, wherein strict compliance would contradict established statutory and administrative mandates regarding access to credit for disadvantaged communities, say attorneys at Husch Blackwell.

  • Atkins' Crypto Remarks Show SEC Is Headed For A 'New Day'

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    A look at U.S. Securities and Exchange Commission Chairman Paul Atkins' recent speeches provides significant clues as to where the SEC is going next and how its regulatory approach to crypto will differ from that of the previous administration, say attorneys at Eversheds Sutherland.

  • DOJ Memo Lays Groundwork For Healthy Bank Sponsorships

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    The U.S. Department of Justice's recent digital asset policy shift offers potential clarity in the murky waters of sponsor bank relationships, presenting nontraditional financial companies with both a moment of opportunity and a test of maturity, say attorneys at Arnall Golden.

  • Series

    Law School's Missed Lessons: Teaching Yourself Legal Tech

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    New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.

  • In 2nd Term, Trump Has New Iran Sanctions Enforcement Tool

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    As tensions between the U.S. and Iran escalate, the Trump administration may use a whistleblower program enacted in 2022 to target violations that were previously more difficult to detect, thus expanding enforcement of economic sanctions, say attorneys at MoloLamken and Zuckerman Law.

  • How AI May Reshape The Future Of Adjudication

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    As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.

  • What Money Transmitters Need To Know About New Colo. Law

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    Colorado's new Money Transmission Modernization Act updates standards for the licensing, supervision and regulation of money transmitters while codifying an agent-to-payee exemption, and represents another step toward standardizing these rules across state governments, say Sarah Auchterlonie and Joel Herberman at Brownstein Hyatt.

  • When Legal Advocacy Crosses The Line Into Incivility

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    As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.

  • Two Bills Promise A Crypto Revamp, But Not A Done Deal Yet

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    Recent efforts in Congress toward an updated regulatory framework for digital assets have led to two bills — the GENIUS Act and the CLARITY Act — that represent the most consequential legislative developments yet in the push for coherent, pro-innovation, reliable regulation for the industry, but both face multiple hurdles, says Mike Katz at Manatt.

  • 2 NY Rulings May Stem Foreign Co. Derivative Suits

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    In recent decades, shareholders have challenged the internal affairs doctrine by bringing a series of derivative actions in New York state court on behalf of foreign corporations, but the New York Court of Appeals' recent rulings in Ezrasons v. Rudd and Haussmann v. Baumann should slow that trend, say attorneys at Cleary.

  • Despite Rule Delay, FTC Scrutiny Looms For Subscriptions

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    Even though the Federal Trade Commission has delayed its click-to-cancel rule that introduces strict protocols for auto-renewing subscriptions, businesses should expect active enforcement of the new requirements after July, and look to the FTC's recent lawsuits against Uber and Cleo AI as warnings, say attorneys at Holland & Knight.

  • AGs Take Up Consumer Protection Mantle Amid CFPB Cuts

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    State attorneys general are stepping up to fill the enforcement gap as the Trump administration restructures the Consumer Financial Protection Bureau, creating a new regulatory dynamic that companies must closely monitor as oversight shifts toward states, say attorneys at Cozen O’Connor.

  • Va.'s Altered Surcharge Law Poses Constitutional Questions

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    Virginia's recently amended consumer protection law requiring sellers to display the total price rather than expressly prohibiting surcharges follows New York's recent revision of its antisurcharge statute and may raise similar First Amendment questions, says attorneys at Stinson.

  • Series

    Volunteering At Schools Makes Me A Better Lawyer

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    Speaking to elementary school students about the importance of college and other opportunities after high school — especially students who may not see those paths reflected in their daily lives — not only taught me the importance of giving back, but also helped to sharpen several skills essential to a successful legal practice, says Guillermo Escobedo at Constangy.

  • Fed's Crypto Guidance Yank Could Drive Innovation

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    The Federal Reserve Board's recent withdrawal of guidance letters brings regulatory consistency and broadens banks' ability to innovate in the crypto-asset space, but key distinctions remain between the Fed's policy on crypto liquidity and that of the other banking regulators, says Dan Hartman at Nutter.

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