Banking

  • October 24, 2025

    Crypto.com Joins Wave Of Crypto Trust Charter Bids

    Digital asset platform Crypto.com said Friday that it has applied for a national trust charter with the Office of the Comptroller of the Currency to boost its custody services, becoming the latest crypto-focused firm to approach the OCC.

  • October 24, 2025

    Experian Faces 4th Circ. Fight Over Credit Probe Dispute

    The named plaintiff in a proposed class action accusing Experian of not properly reinvestigating credit reports with alleged inaccuracies is appealing a North Carolina federal judge's opinion that dismissed the last vestiges of his complaint, court records show.

  • October 24, 2025

    IOLTA Funds Should Go To State, Conn. Panel Rules

    The Connecticut Appellate Court on Friday ordered an attorney's Interest on Lawyers' Trust Account funds to escheat to the state after an ethics audit, flipping a trial court judge's decision that they should return to the lawyer, whose suspension from the practice of law has resulted in several appellate matters.

  • October 24, 2025

    Federal Home Loan Bank Of Atlanta Taps CLO As Next CEO

    The Federal Home Loan Bank of Atlanta has tapped its executive vice president and chief legal and compliance officer to serve as president and chief executive officer starting Jan. 1 after the current leader retires at the end of 2025.

  • October 24, 2025

    NY AG Pleads Not Guilty, Says Prosecutor's Appt. Is 'Unlawful'

    New York Attorney General Letitia James pled not guilty in Virginia federal court Friday to mortgage-related fraud charges that she says are part of President Donald Trump's revenge campaign against his perceived political foes, teeing up a fight over a White House-appointed prosecutor's legal authority.

  • October 24, 2025

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen the Financial Conduct Authority launch legal action against a Chinese cryptocurrency exchange, The Londoner magazine face a defamation claim from an entrepreneur accused of "scamming" Knightsbridge landlords, and Gucci sued by its cosmetics supplier as L'Oréal announces plans to buy the Italian fashion house's beauty brand. Here, Law360 looks at these and other new claims in the U.K.

  • October 23, 2025

    Ex-Amazon Coder Says She's Turned Life Around Since Hack

    A former Amazon.com Inc. coder who exposed the personal data of nearly 100 million people should be sent to prison, the U.S. government said in a new Seattle federal court filing that seeks a seven-year sentence for her.

  • October 23, 2025

    Debt Co. Owner Says CFPB Erred With $5.8M Restitution Bid

    A U.S. Consumer Financial Protection Bureau bid for $5.8 million in restitution against a manager of a now-shuttered debt relief company should be denied because it does not take into account refunds that customers have already received, a California federal judge has been told.

  • October 23, 2025

    Ex-SVB Top Brass Can't Ditch FDIC Suit Over 2023 Collapse

    Silicon Valley Bank's former CEO and several other past members of the bank's top brass must face a suit from the Federal Deposit Insurance Corp. accusing them of mismanagement that led to the bank's costly 2023 failure, a California federal judge has ruled.

  • October 23, 2025

    Truist Bank $4M Robocall Deal, $1.3M Fee Get Final OK

    A $4.1 million settlement between Truist Bank and a group of nearly 6,000 cellphone users who alleged the bank violated the Telephone Consumer Protection Act by sending them unwanted robocalls was granted final approval in North Carolina federal court Thursday.

  • October 23, 2025

    FINRA Announces Probe Of Broker-Dealers' China Work

    The Financial Industry Regulatory Authority notified its members on Thursday that it is investigating broker-dealers that have helped small companies based out of China and other foreign jurisdictions to go public, signaling that it is looking for possible stock manipulation tied to the firms' work. 

  • October 23, 2025

    Lending App EarnIn Users Must Arbitrate NC Class Claims

    Users of payday loan app EarnIn must arbitrate claims that the company's cash advance product violates North Carolina's consumer protection laws, a federal judge ruled, finding that the users clearly agreed to arbitration when they signed up for the app.

  • October 23, 2025

    Full 5th Circ. Asked To Rehear Texas Bankers' OCC Dispute

    Two former Texas bankers have asked the full Fifth Circuit to revive their constitutional challenge to an in-house Office of the Comptroller of the Currency enforcement case, arguing that the appellate panel's decision to reject their appeal wrongly stripped them of their right to a jury trial and handed banking agencies "unlimited discretion" to prosecute old misconduct.

  • October 23, 2025

    Paychex Beats Privacy Suit Over 2024 Data Breach, For Now

    Paychex defeated, for now, a suit filed by a woman who alleged it allowed hackers to access her bank accounts by failing to keep her personal information safe from a data breach, after a Pennsylvania federal judge said Wednesday her complaint "stops short of saying how" Paychex's conduct led to her injury.

  • October 23, 2025

    Del. Justices Won't Reconsider Gellert Seitz Malpractice Ruling

    The Delaware Supreme Court on Oct. 23 rejected a request to reconsider its decision affirming the dismissal of a legal malpractice suit against Gellert Seitz Busenkell & Brown LLC over damages a homebuilder said it suffered due to the firm's negligence handling loan-restructuring disputes, saying the request is "without merit."

  • October 23, 2025

    Bradley Arant Adds Atlanta Attys From CFPB, In-House Role

    Bradley Arant Boult Cummings LLP has boosted the firm's growing Atlanta office with the assistant litigation deputy for the Consumer Financial Protection Bureau and the senior corporate counsel at GoTo Foods, the parent company of brands like Cinnabon.

  • October 23, 2025

    Trump Pardons Convicted Binance Founder Changpeng Zhao

    President Donald Trump has pardoned the convicted Binance founder Changpeng Zhao, a move that could open the door for Zhao to return to Binance if he so chooses, and for the crypto exchange to renegotiate the terms of its own plea deal, experts said Thursday.

  • October 22, 2025

    Trump Admin Battles DC Circ. Rehearing Bid In CFPB Case

    The Trump administration has urged the full D.C. Circuit to keep in place a split panel's ruling that would allow mass layoffs at the Consumer Financial Protection Bureau, dismissing a union-led bid for full-court review as one that's built on a misguided "straw man" attack.

  • October 22, 2025

    Fintechs, Banks Clash Over Open Banking Rule Revisions

    Trade groups representing banks and fintechs clashed in comment letters over the Consumer Financial Protection Bureau's plans to revise its data-sharing mandate, as banks urged the agency to scrap much of the earlier rule for favoring fintechs, while the tech upstarts argued many of the provisions remain necessary to bust banks' allegedly anticompetitive behavior.

  • October 22, 2025

    Experian Can't Slash CFPB Suit Over Tolling Deal 'Mistake'

    A California federal judge on Wednesday refused to toss part of a Consumer Financial Protection Bureau suit against Experian's U.S. operating subsidiary, saying the credit bureau's statute-of-limitations defense "defies logic" to suggest Experian Information Solutions wasn't bound by a tolling deal its own lawyers helped negotiate.

  • October 22, 2025

    Banks Want Ill. Fee Law Block Extended To Card Networks

    Banking industry groups urged an Illinois federal judge Wednesday to permanently block an Illinois law that bans swipe fees on tax and tip portions of payment card transactions, arguing she has already correctly held that national banks are federally preempted from its reach, and that the court should extend that relief to card networks and others involved in the payment process.

  • October 22, 2025

    Origins Tech Settles $4M Suit Over Canceled Pot License

    Cannabis brand holding and investment company Origins Tech Inc. has settled its legal fight with a Utah cannabis retailer, with both agreeing to drop claims and counterclaims alleging nearly $1 million in unpaid loans and breached contracts.

  • October 22, 2025

    Crypto Exchange Fined $126.4M For AML Violations In Canada

    A Canadian financial regulator on Wednesday ordered crypto exchange Cryptomus to pay a 177 million Canadian dollar ($126.4 million) penalty to resolve anti-money laundering compliance claims, many of which concern transactions connected to sex trafficking and fraud.

  • October 22, 2025

    Farmers' Ohio Deal Is Latest Amid Banking M&A Surge

    Farmers National Banc Corp. said Wednesday it has agreed to purchase Middlefield Banc Corp. for $299 million, amid a record-breaking run for banking deals that experts tell Law360 is being fueled by more favorable regulatory dynamics and years of pent-up demand. 

  • October 22, 2025

    UBS Urges Justices Not To Revive Retaliation Case Again

    UBS Securities is urging the U.S. Supreme Court not to revive, for a second time, a fired worker's whistleblower retaliation lawsuit, arguing that lower courts should be allowed to consider questions about jury instructions regarding the meaning of "contributing factor" in the Sarbanes-Oxley Act before the high court weighs in.

Expert Analysis

  • What's At Stake In High Court Review Of Funds' Right To Sue

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    The U.S. Supreme Court's upcoming review of FS Credit Opportunities v. Saba Capital Master Fund, a case testing the limits of using Investment Company Act Section 47(b) to give funds a private right of action to enforce other sections of the law, could either encourage or curb similar activist investor lawsuits, say attorneys at Goodwin.

  • Handling Sanctions Risk Cartel Control Brings To Mexico Port

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    Companies operating in or trading with Mexico should take steps to mitigate heightened exposure triggered by routine port transactions following the U.S. Treasury’s recent unequivocal statement that a foreign terrorist organization controls the port of Manzanillo, says Jeremy Paner at Hughes Hubbard.

  • The Road Ahead For Digital Assets Looks Promising

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    With new legislation expected to accelerate the adoption of blockchain technology, and with regulators taking a markedly more permissive approach to digital assets, the convergence of traditional finance and decentralized finance is closer than ever, say attorneys at Dechert.

  • Unpacking The Supreme Court's Views On Judgment Finality

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    The U.S. Supreme Court's June opinion in BLOM Bank SAL v. Honickman reaffirmed that the bar for reopening a final judgment remains exceptionally high — even when the movant seeks to amend their complaint based on a new legal development, say attorneys at Venable.

  • Series

    Creating Botanical Art Makes Me A Better Lawyer

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    Pressing and framing plants that I grow has shown me that pursuing an endeavor that brings you joy can lead to surprising benefits for a legal career, including mental clarity, perspective and even a bit of humility, says Douglas Selph at Morris Manning.

  • Supreme Court's Criminal Law Decisions: The Term In Review

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    Though the U.S. Supreme Court’s criminal law decisions in its recently concluded term proved underwhelming by many measures, their opinions revealed trends in how the justices approach criminal cases and offered reminders for practitioners, says Kenneth Notter at MoloLamken.

  • Compliance Is A New Competitive Edge For Mortgage Lenders

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    So far, 2025 has introduced state and federal regulatory turbulence that is pressuring mortgage lenders to reevaluate the balance between competitive and compliant employee and customer recruiting practices, necessitating a compliance recalibration that prioritizes five key strategies, say attorneys at Mitchell Sandler.

  • Even As States Step Up, They Can't Fully Fill CFPB's Shoes

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    The Trump administration's efforts to scale down the Consumer Financial Protection Bureau have prompted calls for state regulators to pick up the slack, but there are also important limitations on states' ability to fill the gap left by a mostly dormant CFPB, say attorneys at Covington.

  • Opinion

    The Legal Education Status Quo Is No Longer Tenable

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    As underscored by the fallout from California’s February bar exam, legal education and licensure are tethered to outdated systems, and the industry must implement several key reforms to remain relevant and responsive to 21st century legal needs, says Matthew Nehmer at The Colleges of Law.

  • What Dismissal Rulings May Mean For ERISA Forfeiture Cases

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    Following an influx of Employee Retirement Income Security Act class actions challenging the long-standing practice of plan sponsors using plan forfeitures to offset employer contributions, recent motion to dismiss rulings and a U.S. Department of Labor amicus brief may encourage more courts to reject plaintiffs' forfeiture theories, say attorneys at Mayer Brown.

  • 'Pig Butchering' Seizure Is A Milestone In Crypto Crime Fight

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    The U.S.' recent seizure of $225 million in crypto funds in a massive "pig butchering" scheme highlights the transformative impact of blockchain analysis in law enforcement, and the increasing necessity of collaboration between law enforcement agencies, cryptocurrency exchanges and stablecoin issuers, says David Zaslowsky at Baker McKenzie.

  • The Pros, Cons Of A Single Commissioner Leading The CFTC

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    While a single-member U.S. Commodity Futures Trading Commission may require fewer resources and be more efficient, its internal decision-making process would be less transparent to those outside the agency, reflect less compromise between competing viewpoints and provide the public with less predictability, says former CFTC Commissioner Dan Berkovitz.

  • E-Discovery Quarterly: Rulings On Relevance Redactions

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    In recent cases addressing redactions that parties sought to apply based on the relevance of information — as opposed to considerations of privilege — courts have generally limited a party’s ability to withhold nonresponsive or irrelevant material, providing a few lessons for discovery strategy, say attorneys at Sidley.

  • Opinion

    Section 1983 Has Promise After End Of Nationwide Injunctions

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    After the U.S. Supreme Court recently struck down the practice of nationwide injunctions in Trump v. Casa, Section 1983 civil rights suits can provide a better pathway to hold the government accountable — but this will require reforms to qualified immunity, says Marc Levin at the Council on Criminal Justice.

  • Why Bank Regulators' Proposed Leverage Tweak Matters

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    Banking agencies' recent proposal to modify the enhanced supplementary leverage ratio framework applicable to the largest U.S. banks shows the regulators are keen to address concerns that the regulatory capital framework is too restrictive, say attorneys at Moore & Van Allen.

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