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Banking
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									September 24, 2025
									AGs Slam Capital One's $425M Deal As Unfair To ConsumersNew York Attorney General Letitia James and 17 other attorneys general are opposing a proposed $425 million settlement between Capital One and a putative consumer class alleging the bank deceptively advertised its 360 Savings accounts, telling a Virginia federal court the deal "fails to adequately redress" the harms caused by the scheme. 
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									September 24, 2025
									Merrill Lynch Accuses Ex-Staff, Schwab, Investor Of IP TheftMerrill Lynch has filed a trade secrets lawsuit against a dozen former employees, Charles Schwab and Dynasty Financial Partners, alleging the defendants conspired to start a new independent financial advisory firm with Merrill's staff and confidential information. 
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									September 24, 2025
									Loeb & Loeb, Kirkland Guide SPAC Lafayette's $250M IPOGuided by Loeb & Loeb LLP and underwriters' counsel Kirkland & Ellis LLP, special purpose acquisition company Lafayette Digital Acquisition I filed Tuesday for a $250 million initial public offering with the U.S. Securities and Exchange Commission with hopes to acquire blockchain- or fintech-related merger targets. 
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									September 24, 2025
									Grid Operator TenneT Selling $11.2B Stake To InstitutionsTenneT Holding said Wednesday it has agreed to sell a 46% stake in its German transmission business, TenneT Germany, to three institutional investors, raising up to €9.5 billion ($11.2 billion) in new equity to fund the expansion of the country's high-voltage grid. 
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									September 24, 2025
									Ex-Bank Compliance Execs' Whistleblower Suit TossedA New York federal judge has dismissed whistleblower and discrimination claims brought by former Shinhan Bank America compliance executives against the bank, finding that they failed to follow the required administrative steps before filing suit and haven't demonstrated that the bank was aware of their allegedly whistleblower-protected activity, among other things. 
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									September 24, 2025
									PNC Failed To Protect 740K Users' Data In Breach, Suit ClaimsA proposed class action filed in Pennsylvania federal court Tuesday claims PNC Financial Services suffered a data breach affecting 740,000 customers and should be held liable for not protecting their personal information. 
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									September 24, 2025
									Pa. Man Gets 4 Years In Prison For $72M FraudA Pennsylvania man has been sentenced to four years behind bars for scamming two lenders out of $72 million that he said would go toward buying insurance companies, according to the U.S. attorney's office in Philadelphia. 
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									September 24, 2025
									Lender Must Face Class Claims It Ignored 'Do Not Call' AsksA mortgage lender must face class allegations that it called people without their consent to market its loan products and continued to call people who asked it to stop, a Michigan federal judge has ruled, rejecting the lender's arguments that the proposed class is too vague. 
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									September 23, 2025
									Experian Beats Credit Investigation Suit, For NowExperian beat a proposed class action alleging it failed to timely reinvestigate disputed information in a plaintiff's file that kept him from securing a property mortgage loan, a North Carolina federal judge said Tuesday, finding that the plaintiff lacked standing and couldn't fairly trace his injury to the delay in reinvestigation. 
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									September 23, 2025
									Banks Urge SEC To Hold Crypto Custody To Same StandardsFinancial services trade groups have cautioned the U.S. Securities and Exchange Commission against broadly permitting investment advisers and state-chartered trust companies to safeguard customer's cryptocurrency assets, urging the agency to maintain equal standards for all financial custodians amid planned crypto rulemaking. 
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									September 23, 2025
									CFTC Seeks Feedback On The Use Of Crypto CollateralThe U.S. Commodity Futures Trading Commission launched an initiative on Tuesday to enable the use of certain crypto assets as collateral in derivatives markets, soliciting industry suggestions on potential pilot programs, amendments to regulations and relevant issues. 
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									September 23, 2025
									Ex-Discover Financial Exec Can Pursue Equity Clawback SuitAn Illinois federal judge has rejected a bid to toss a retired Discover Financial Services executive's age and gender discrimination lawsuit, finding she has sufficiently alleged at this point that she faced disparate treatment tied to her sex and that Discover's arguments against her age discrimination claim don't hold weight. 
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									September 23, 2025
									Hedge Funds Call For CFTC To End Dual RegistrationA group representing the hedge fund industry is calling on the U.S. Commodity Futures Trading Commission to drop the need for industry participants to submit to agency oversight in cases where fund managers are already registered with the U.S. Securities and Exchange Commission, calling the dual registration requirement "costly" and "inefficient." 
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									September 23, 2025
									CFPB Frees Apple, US Bank From Biden-Era Consent OrdersThe Consumer Financial Protection Bureau has lifted two more enforcement orders issued during the Biden administration, this time granting both Apple Inc. and U.S. Bank NA an early release from ongoing monitoring years ahead of schedule. 
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									September 23, 2025
									DHS Floats H-1B Rule To Prioritize Higher-Paid WorkersThe Trump administration proposed a rule on Tuesday to change the H-1B lottery process to one that gives priority to higher-skilled workers at companies offering better pay, according to a Federal Register notice. 
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									September 23, 2025
									Chair Of Puerto Rican Bank Pleads Guilty To $13.6M FraudThe chairman of the board of Puerto Rico-based Nodus International Bank has pled guilty to leading a scheme through which he and the bank's former CEO stole more than $13.6 million from Nodus and used it for their own benefit. 
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									September 23, 2025
									Cantor Fitzgerald, Citibank Hit With Trading Patent SuitsSeveral financial services businesses, including Citibank and Secretary of Commerce Howard Lutnick's former firm Cantor Fitzgerald, have been sued in New York and Texas federal court over their alleged infringement of a trading patent. 
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									September 23, 2025
									Wilmington Trust Seeks Receiver After $19M Loan DefaultA single-asset real estate firm that owns an office building in the Denver Technological Center, or DTC, filed for Chapter 11 and faces a request for a receiver over the building it owns after it defaulted on a $19 million loan last year, according to court filings. 
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									September 23, 2025
									LPL Financial Nabs Ex-AUSA, Eversheds Investigations HeadLPL Financial has hired a former Manhattan federal prosecutor as head of litigation and arbitration following her time as co-leader of Eversheds Sutherland's corporate crime and investigations practice. 
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									September 23, 2025
									Climate Transition-Focused SPAC Plans For $150M IPOSpecial purpose acquisition company Climate Transition Special Opportunities SPAC I has filed plans with U.S. regulators to raise up to $150 million in its initial public offering, with the goal of acquiring a company in the renewable energy or specialty finance space. 
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									September 23, 2025
									1st Circ. Won't Let Citizens Bank Escape Escrow Interest SuitThe First Circuit has revived a proposed class action accusing Citizens Bank of violating Rhode Island law by not making interest payments for mortgage escrow accounts, ruling the action must be reinstated in part because of a U.S. Supreme Court decision handed down after the case was dismissed. 
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									September 22, 2025
									Ex-Joseph Gunnar Broker Cops To $1M Insider Trading SchemeA former Joseph Gunnar & Co. broker Monday admitted to his role in what prosecutors say was a scheme to use confidential information about upcoming secondary stock offerings to make over $1 million in illicit profits. 
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									September 22, 2025
									Davis Polk, Goodwin Guide $675M Bitcoin Treasury MergerStrive Inc. announced Monday that it plans to purchase $675 million worth of bitcoin and acquire Semler Scientific Inc. in an all-stock transaction in a deal guided by Davis Polk & Wardwell LLP and Goodwin Procter LLP. 
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									September 22, 2025
									$100K H-1B Fee Will Likely Hurt Both US And Foreign WorkersThe new $100,000 fee for H-1B visas, which took effect on Sunday with little advance notice, blindsided immigration attorneys who told Law360 that it could ultimately hurt domestic workers by driving U.S. companies to do business elsewhere. 
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									September 22, 2025
									SEC Sues NC Man For 'Free-Riding' Securities SchemeA North Carolina man faces U.S. Securities and Exchange Commission allegations that he systematically gamed certain broker-dealers to engage in a so-called free-riding scheme that enabled him to trade nearly $900,000 worth of securities despite not actually possessing the funds to do so. 
Expert Analysis
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								2 NY Cases May Clarify Foreclosure Law Retroactivity  Two pending cases may soon provide the long-awaited resolution to the question of whether retroactive application of the New York Foreclosure Abuse Prevention Act violates the state Constitution, providing a guide for New York courts inundated with motions in foreclosure and quiet title actions, says Fernando Rivera Maissonet at Hinshaw & Culbertson. 
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								Series Law School's Missed Lessons: Navigating Client Trauma.jpg)  Law schools don't train students to handle repeated exposure to clients' traumatic experiences, but for litigators practicing in areas like civil rights and personal injury, success depends on the ability to view cases clinically and to recognize when you may need to seek help, says Katie Bennett at Robins Kaplan. 
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								What To Expect As UK, US Gov'ts Develop Stablecoin Policies  While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader. 
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								Series Texas Banking Brief: All The Notable Legal Updates In Q2  In the second quarter of 2025, the Texas Business Court's newly expanded jurisdiction set the stage for rising caseloads, while the state Legislature narrowed an exception to state bank control requirements and closed a cryptocurrency dividends payments loophole, say attorneys at Mayer Brown. 
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								Yacht Broker Case Highlights Industry Groups' Antitrust Risk  The Eleventh Circuit recently revived class claims against the International Yacht Brokers Association, signaling that commission-driven industries beyond real estate are vulnerable to antitrust challenges after the National Association of Realtors settled similar allegations last year, says Miles Santiago at the Southern University Law Center and Alex Hebert at Southern Compass. 
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								Opinion 4 Former Justices Would Likely Frown On Litigation Funding  As courts increasingly confront cases involving hidden litigation finance contracts, the jurisprudence of four former U.S. Supreme Court justices establishes a constitutional framework that risks erosion by undisclosed financial interests, says Roland Eisenhuth at the American Property Casualty Insurance Association. 
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								Congress Crypto Movement Could Bring CFTC 'Clarity' At Last  The Clarity Act's arrival at the House floor during "Crypto Week" in Congress demonstrates enduring bipartisan support for legislation addressing digital assets and the Commodity Futures Trading Commission's important role in a future regulatory structure, say attorneys at DLA Piper. 
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								Stablecoin Bills Present Opportunities, Challenges For Banks  Stablecoin legislation that Congress is expected to adopt in the coming weeks — the GENIUS and STABLE Acts — would create openings for banks to engage in digital asset activities, but it also creates a platform for certain tech-savvy nonbanks to directly compete, say attorneys at Arnold & Porter. 
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								How Attys Can Use AI To Surface Narratives In E-Discovery  E-discovery has reached a turning point where document review is no longer just about procedural tasks like identifying relevance and redacting privilege — rather, generative artificial intelligence tools now allow attorneys to draw connections, extract meaning and tell a coherent story, says Rose Jones at Hilgers Graben. 
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								Opinion GENIUS Act Could Muck Up Insolvency Proceedings  While some of the so-called GENIUS Act's insolvency provisions are straightforward, others run the risk of jeopardizing the success of stablecoin issuers' insolvency proceedings and warrant another look from Congress, say attorneys at Morgan Lewis. 
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								Series Calif. Banking Brief: All The Notable Legal Updates In Q2  The second quarter saw California become a more active protector of consumers in response to federal regulatory pullback, with regulators proposing a licensing framework for digital asset businesses, ending an enforcement exemption and otherwise signaling further expansions of oversight and enforcement, say attorneys at Stinson. 
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								Series Georgia Banking Brief: All The Notable Legal Updates In Q2  The second quarter brought a number of significant legislative and regulatory changes for Georgia banking, including an extension of the intangibles tax exemption for short-term notes, modernization of routine regulatory practices, and new guardrails against mortgage trigger leads, says Walter Jones at Balch & Bingham. 
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								Capital One Deal Approval Lights Up Path For Bank M&A  The federal banking regulators' recent approval of Capital One's acquisition of Discover signals the agencies' willingness to approve large transactions and a more favorable environment generally for bank mergers under the Trump administration, say attorneys at Arnold & Porter. 
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								Series Playing The Violin Makes Me A Better Lawyer  Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo. 
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								Series NY Banking Brief: All The Notable Legal Updates In Q2  In the second quarter of the year, New York utilized every available tool to fill gaps left by federal retrenchment from consumer finance issues, including sweeping updates to its consumer protection framework and notable amendments to cybersecurity rules, say attorneys at Steptoe. 
