Banking

  • August 06, 2026

    Fintech Seeks OCC Trust Charter For Crypto Loan Servicing

    Zaria, a fintech startup that includes a former Manatt Phelps & Phillips LLP partner as an organizer, has applied for an Office of the Comptroller of the Currency charter to establish what it says is the first national trust bank to offer "digitally native" loan servicing.

  • August 06, 2026

    Judge Backs Arbitration In Veterans' Suit Against Bank

    A North Carolina federal judge upheld a magistrate judge's finding that two Synchrony Bank customers must arbitrate their proposed class action challenging Synchrony's allegedly misleading 0% interest rate for military service members, though he partially disagreed with the magistrate judge's rationale.

  • August 06, 2026

    7th Circ. Backs Outcome Health Execs' $1B Fraud Convictions

    The Seventh Circuit on Thursday upheld the convictions of two Outcome Health executives for lying about the company's capabilities and value in a $1 billion fraud, rejecting their argument that an overzealous pretrial freeze on millions in assets violated their constitutional right to hire the defense attorneys of their choice.

  • August 06, 2026

    KPMG Must Face Beefed Up Investor Suit Over SVB Failure

    A California federal judge allowed Norway's central bank and a Swedish public pension fund to lodge an additional claim against KPMG in their proposed securities fraud class action over Silicon Valley Bank's 2023 failure, saying they sufficiently alleged KPMG ignored red flags as SVB's auditor.

  • August 06, 2026

    Ex-Goldman Exec Convicted Of Ghana Bribery Plot

    A former Goldman Sachs executive director was convicted Thursday for his role in what Brooklyn federal prosecutors say was a wide-ranging conspiracy to bribe Ghanaian officials in support of a Turkish energy company's push to obtain a lucrative power plant contract as the West African nation was reeling from an electricity crisis.

  • August 06, 2026

    Man Gets 6 Years For Part In Alleged NFL Impersonation Scam

    A man accused of working with a former University of Alabama football player to obtain nearly $20 million in bogus loans by using wigs, makeup and forged documents to impersonate several National Football League players has been sentenced to six years in prison.

  • August 06, 2026

    Hogan Lovells Cadwalader Adds Ex-Treasury Crypto Atty

    Hogan Lovells Cadwalader has hired a former Treasury Department counsel, who in his last role was the agency's first official dedicated to focusing on digital asset policy and blockchain technology, the firm announced Thursday.

  • August 05, 2026

    Goldman Exec Was Linchpin To Ghana Bribery Ploy, Jury Told

    A federal prosecutor on Wednesday told jurors in Brooklyn that emails and recordings back up allegations a former Goldman Sachs banker was the central player behind a plot to secure a lucrative energy contract by bribing Ghanaian government officials, while the defense argued that a dearth of evidence about illicit payments should doom the case.

  • August 05, 2026

    BofA Must Face Some Claims In Military Interest Cap Suit

    A North Carolina federal judge declined to fully adopt a magistrate judge's recommendation to dismiss a proposed class action accusing Bank of America of violating an interest cap law for military service members, though he trimmed some claims from the suit.

  • August 05, 2026

    Chinese Fiberglass Co. Pays $5M Over PPP Loan Fraud Claim

    A U.S.-based subsidiary of a Chinese fiberglass manufacturer has agreed to pay $5.1 million to resolve claims that it flouted eligibility requirements to receive a Paycheck Protection Program loan and loan forgiveness during the COVID-19 pandemic, ending a lawsuit brought under the whistleblower provision of the False Claims Act.

  • August 05, 2026

    SEC Establishes New Accounting Fraud Unit

    The U.S. Securities and Exchange Commission announced Wednesday that it will create a specialized unit within its enforcement division to focus on fraud and misconduct in accounting, financial reporting and auditing, tapping a former Gibson Dunn & Crutcher LLP lawyer as head of the new unit.

  • August 05, 2026

    CFPB Sends Open-Banking Rule Redo To White House

    The Consumer Financial Protection Bureau has finished a proposal to overhaul its Biden-era open-banking rule and has submitted it for White House clearance, a move that signals the agency is nearing publication of the highly anticipated draft changes.

  • August 05, 2026

    Connex Data Breach Class Action Heads To Mediation

    A Connecticut state court judge has agreed to pause a proposed class action blaming a credit union for a breach of customers' private data while the parties head to a mediation session currently scheduled for September.

  • August 05, 2026

    Murdaugh Loses Jury Tampering Suit Against Ex-Court Clerk

    A South Carolina federal judge on Wednesday dismissed disgraced attorney Alex Murdaugh's jury tampering suit against a former court clerk who was found to have interfered in his murder trial, ruling there was no connection between his alleged damages and the ex-clerk's misconduct.

  • August 05, 2026

    Loomis Sayles Pulls Plug On $70M Suit Against Citi

    Loomis Sayles said Wednesday that it was dropping a lawsuit accusing Citigroup Global Markets of causing $70 million in trading losses when it fulfilled trades in shares of Shopify Inc. and Colgate-Palmolive Co. in violation of "best execution" practices.

  • August 04, 2026

    Goldman Jury Sees Undercover Video As Bribe Trial Nears End

    A federal jury in Brooklyn Tuesday saw a clandestinely recorded video of a former Goldman Sachs banker talking to an acquaintance about what prosecutors say were bribes paid to government officials in Ghana to greenlight a power plant deal, as the Foreign Corrupt Practices Act trial enters the home stretch.

  • August 04, 2026

    9th Circ. Upholds Jurisdiction In $22M Chinese Debtor Case

    The Ninth Circuit ruled in a published opinion Monday that a physically present defendant need not be personally served in order for a court to have personal jurisdiction, affirming the enforcement of a $22.2 million Chinese arbitral award in a case centering on a defaulted loan.

  • August 04, 2026

    DC Circ. Upholds Injunction Forcing EPA To Fund Clean Energy

    A split D.C. Circuit affirmed a lower court decision blocking the Trump administration from freezing $20 billion in clean-energy grant money Tuesday, overturning a divided circuit panel decision from September that vacated the injunction and would have allowed the administration to claw back the funding.

  • August 04, 2026

    UMB Bank Suit Over Failed Hard Rock Hotel Headed To Trial

    UMB Bank NA's lawsuit over a failed $80 million development of a Hard Rock hotel and events center in Kansas is set to proceed to trial, with a federal judge holding that the suit asserts triable issues regarding whether some of the defendants shared a common purpose to defraud and to participate in a fraudulent enterprise. 

  • August 04, 2026

    Stripe Seeks OK Of $1.4M Arb. Award In Chargeback Dispute

    Payment processing company Stripe has asked a California federal court to confirm an arbitration award of more than $1.3 million in fees and costs that it won after beating claims from a merchant, whose payment processing account was terminated due to an extremely high volume of chargebacks.

  • August 04, 2026

    Lender Can't Claim $5M In Worker Credits, Judge Rules

    A mortgage lender that said it had to suspend operations during the pandemic can't claim $5 million in refunds for worker tax credits, a California federal magistrate judge said, finding the lender failed to show that its sales operations were partially suspended due to a government order.

  • August 04, 2026

    BofA, Other Banks Plan To Settle Mexican Bond-Rigging Case

    A Manhattan federal judge stayed a proposed class action brought by U.S. pension funds alleging that a group of Mexico-based units of global banking giants conspired to rig Mexican government bond prices after the two sides said they had reached a preliminary settlement agreement.

  • August 04, 2026

    Ex-Booz Allen Worker Says Sen. Scott's Tax Leak Claims Late

    A former employee of federal contractor Booz Allen Hamilton asked a Florida federal court to toss claims against him by Sen. Rick Scott over the leak of his personal tax returns, saying the suit was filed too late and in the wrong jurisdiction.

  • August 04, 2026

    FDIC Gives Green Light To 'AI-Native' Augustus National Bank

    A top U.S. banking agency said Tuesday that it has signed off on deposit insurance coverage for Augustus National Bank NA, advancing the newly chartered startup's plans to build out a full-service platform for crypto firms, high-net-worth clients and other players in the digital economy.

  • August 04, 2026

    Foley Hoag DC Office Leader Joins Foley & Lardner

    Foley & Lardner LLP has hired Foley Hoag LLP's former Washington office partner-in-charge, who started her career at that firm as an associate almost 16 years ago, Foley & Lardner announced Tuesday.

Expert Analysis

  • 3 AI Adoption Mistakes GCs Should Avoid

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    The pressure in-house legal teams face to quickly adopt artificial intelligence tools, combined with budget constraints and the need to evaluate a crowded market of options, sets the stage for implementation mistakes that are often difficult to undo, says former 23andMe general counsel Guy Chayoun.

  • Series

    Playing Basketball Makes Me A Better Lawyer

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    My grandfather used to say "I wear your jersey" as shorthand for wholly committing to support someone with loyalty and integrity — ideals that have shaped my life on the basketball court and in legal practice, says Tracy Schimelfenig at Schimelfenig Legal.

  • New Cuba Sanctions Raise Risks For Foreign Banks, Cos.

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    President Donald Trump's bold move leveling secondary sanctions against Cuba expands enforcement risk for foreign banks and companies with no U.S. nexus, signaling that non-U.S. businesses should reassess related transactions, counterparties and exposure as regulators test this broader authority, say attorneys at Troutman.

  • How Cos. Can Navigate Iran Sanctions Risks In China

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    For multinational financial institutions and other companies caught between the U.S. and China’s competing compliance regimes as they relate to Iranian oil, finding a path forward will require careful, jurisdiction-specific analysis, say attorneys at Perkins Coie and Ashurst.

  • Series

    The Biz Court Digest: Georgia Court Has Business On Its Mind

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    Thanks to recent legislation, the Georgia State-wide Business Court will soon offer business litigants greater access to the court than ever before, further enhancing the court's emphasis on efficiency, predictability and accessibility for sophisticated commercial disputes, says former GSBC judge Walt Davis at Jones Day.

  • How Treasury's Stablecoin Test Will Shape State Oversight

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    The Treasury Department's recently proposed principles for judging whether state stablecoin regimes are "substantially similar" to the federal framework signal that issuers should expect stricter benchmarking against the bank agencies' standards, limited state flexibility and heightened pressure to reassess compliance as rules take shape, say attorneys at Baker McKenzie.

  • Mass. Draft Regs Signal Nationwide Scrutiny Of Junk Fees

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    Massachusetts Attorney General Andrea Campbell's new draft regulations for assisted living facilities is only her latest move in the war on junk fees — and part of a national reordering of consumer protection enforcement in which states are aggressively and creatively asserting authority, says Steve Provazza at Arnall Golden.

  • CFPB Rule Recalibrates Fair Lending Compliance

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    A close reading of the Consumer Financial Protection Bureau's new final rule on fair lending enforcement reveals a thoughtful and disciplined effort to realign enforcement with statutory text, evidentiary rigor and practical compliance realities, says Alan Kaplinsky at Ballard Spahr.

  • 4 Emerging Approaches To AI Protective Order Language

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    Over the last year, at least five federal district courts have issued or analyzed specific protective order provisions restricting the use of generative artificial intelligence platforms with protected materials, establishing that proactive AI-specific provisions are now standard practice and demonstrating that no single model works for every case, says Joel Bush at Kilpatrick.

  • GCs Can Read Debt Cycles To Spot Risk, Opportunity

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    With the conflict in Iran among many other factors that are further unsettling the geopolitical and economic environment, general counsel who understand credit risk and the debt cycle can offer a significant competitive advantage to help companies mitigate enterprise risk, says Samuel Keltner at Akin.

  • Binance Win Shows Constraints On Anti-Terrorism Act Claims

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    The Southern District of New York's recent ruling in Troell v. Binance illustrates that the Second Circuit's earlier decision in Ashley v. Deutsche Bank is holding weight with courts, and companies facing aiding and abetting risk should thus monitor evolving case law and assess exposure based on nexus allegations, say attorneys at Freshfields.

  • Heppner Ruling Left AI Privilege Risk For Lawyers Unresolved

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    While a New York federal judge’s recent ruling in U.S. v. Heppner resolved a privilege question surrounding client-side artificial intelligence use, it did not address how to mitigate the risks that can arise when confidential information enters the operative context of an AI system used by an attorney, says Jianfei Chen at Quarles & Brady​​​​​​​.

  • Expect US Enforcers' Cartel Crackdown To Continue

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    Since agencies’ coordinated enforcement efforts targeting cartel-related activity have not slowed, U.S. companies in Latin America should assess new business lines for designated-cartel ties, scrutinize highest-risk third parties, and enhance training and internal investigation practices, say attorneys at Miller & Chevalier.

  • The Ethics And Practicalities Of Representing AI Agents

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    With autonomous artificial intelligence agents now able to take action without explicit instructions from — or the awareness of — their human owners, the bar must confront whether existing frameworks like informed consent and client privilege will be sufficient on the day an AI agent calls seeking counsel, say attorneys at Morrison Cohen.

  • OCC Proposal Frames Key Genius Act Implementation Issues

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    The Office of the Comptroller of the Currency's recently proposed rule under the Genius Act previews federal expectations on permissible activities for stablecoin issuers, offering an early guide to potential compliance burdens and state-federal equivalency debates as the stablecoin regulatory regime continues to take shape, say attorneys at Alston & Bird.

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