Banking

  • September 02, 2026

    'Astonished' Homebuyer Says Atty Email Lapse Caused Hack

    A New York City law firm has been ordered to provide internet security and login information to a homebuyer who claims she was left in "shock" when an impostor with access to her lawyer's email tricked her into wiring away over $730,000.

  • September 01, 2026

    Calif. Private Fund Execs Charged In $80M Ponzi-Like Scheme

    Executives of a California-based loan origination business and its affiliates were hit with securities violations and criminal charges by the U.S. Securities and Exchange Commission and the U.S. Attorney's Office in federal court over an alleged Ponzi-like scheme that raised over $80 million from unwitting investors. 

  • September 01, 2026

    Servicer Says Borrowers Weren't Harmed By Warning Letters

    Housing loan servicer Selene Finance LP says a North Carolina federal court should end a proposed class action alleging the company sent false and deceptive notices about defaults, arguing the suit fails to describe any remediable harm.

  • September 01, 2026

    CFTC Drops Swaps Manipulation Claim In Deal With Ex-Trader

    The Commodity Futures Trading Commission on Tuesday wrapped up a long-running enforcement action against a former investment bank managing director, dropping claims that he manipulated swap prices to benefit his bank and settling claims that he destroyed evidence.

  • September 01, 2026

    SEC Sends White House Plan For Retail Private Market Access

    The U.S. Securities and Exchange Commission's Division of Investment Management has submitted to the White House a proposal to help facilitate retail investors' exposure to private markets and enable investment advisers to charge related performance fees, saying it could provide more opportunities for investors looking to diversify their portfolios.

  • September 01, 2026

    High Court Should Skip Ruby Tuesday Benefits Suit, SG Says

    The U.S. solicitor general has urged the Supreme Court to decline to consider a suit from former Ruby Tuesday executives alleging Regions Bank inadequately protected their retirement plan benefits that were liquidated in bankruptcy, saying the "idiosyncratic" nature of the dispute makes it a poor candidate for high court review.

  • September 01, 2026

    Barnes & Thornburg Says Ex-NBA Star Owes $1M Legal Fees

    Former NBA player Luol Deng is being sued for more than $1 million by a Chicago-based law firm that claims he failed to pay legal fees connected to two real estate matters, according to a suit filed in Illinois state court.

  • September 01, 2026

    Unified, Industry Orgs. Again Push Justices On PTAB Policies

    Unified Patents, Clearing House Payments subsidiary Askeladden and a series of industry groups have continued pressing the U.S. Supreme Court to accept petitions addressing the U.S. Patent and Trademark Office's patent review authority, this time in a case brought by Tesla.

  • September 01, 2026

    Insurer Can't Dodge Wire Fraud Coverage, Ala. Judge Says

    Lenders are entitled to coverage for losses from a closing agent falling victim to wire fraud in mortgage refinancing transactions, an Alabama magistrate judge said Monday, finding that an exclusion barring coverage for an insured creating their own losses doesn't apply.

  • September 01, 2026

    Investment Co. Disputes IRS' $166M Add-On To Capital Gains

    An investment company accused the IRS of mistakenly inflating its 2008 short-term capital gains from certain securities investments to about $170 million from $4 million, telling the U.S. Tax Court the gains were properly deferred during the Great Recession.

  • September 01, 2026

    Fox Investor Sues Over Morgan Stanley Role In $22B Deal

    A Fox Corp. stockholder has sued the media company and its board in the Delaware Chancery Court, seeking to block a shareholder vote tied to Fox's planned $22 billion acquisition of Roku Inc. until investors receive more information about alleged conflicts involving financial adviser Morgan Stanley.

  • August 31, 2026

    Whistleblower Atty Award Cut To $5.4M After 9th Circ. Remand

    A California federal judge cut fees and expenses to $5.4 million for attorneys representing a whistleblower in her suit against Academy Mortgage Corp., after a Ninth Circuit remand deemed the previously awarded $8.6 million to be too high.

  • August 31, 2026

    Circle Says N. Korea Hack USDC Was Never In Its Possession

    Blockchain company Circle Internet Financial LLC said that the family of a man who was kidnapped and murdered by North Korean agents cannot collect $232 million from the company following the April Fools' Day exploit of crypto project Drift Protocol, arguing it was not in possession of the contents of the wallets at issue.

  • August 31, 2026

    Colo. Fund Says Lender Hid $10M Loan Subordination Deal

    The manager of a Colorado-based investment fund accused mortgage lender Cherry Creek in state court of executing an "invalid" hidden subordination agreement that allowed the lender to delay its interest payments on a $10 million promissory note.

  • August 31, 2026

    Citigroup Must Face RICO Suit Over Mexico Fraud Scheme

    A Florida magistrate judge said Monday bondholder plaintiffs have standing to pursue racketeering claims in a suit accusing Citigroup of running a massive cash advance fraud scheme, finding that although the "operative locus" of the fraud was in Mexico, a large part of Citigroup's alleged conduct occurred in the United States.

  • August 31, 2026

    AT&T Shouldn't Face Pension Risk Transfer Suit, Judge Says

    A Massachusetts federal judge said Monday that AT&T should be cut loose from a suit brought by retirees who claimed the company brokered a risky $8 billion pension annuity deal, adding that the investment manager that chose the annuity provider can't fully avoid the suit.

  • August 31, 2026

    11th Circ. Upholds $800K Award In Venezuelan Takeover Suit

    The Eleventh Circuit on Monday upheld an $800,000 jury verdict that found two former Miami bank directors accused of working for the Venezuelan government were liable for the bank's financial difficulties.

  • August 31, 2026

    Investors Can't Escape Danish Tax Fraud Case, 2nd Circ. Says

    Four investors and their pension plans owe $476 million for their role in a tax fraud scheme against the Danish government, the Second Circuit affirmed Monday, rejecting the investors' contention that they are beyond the reach of Danish revenue collectors.

  • August 31, 2026

    Nuvo's $9.75M D&O Deal Ends US-Israel Bankruptcy Clash

    Bankrupt pregnancy-technology firm Nuvo Group and an Israeli court-appointed trustee tasked with liquidating it reached an agreement that resolves their cross-border disputes by using a $9.75 million settlement payment from insurers of former executives.

  • August 31, 2026

    Viks Seek Split Trial To Save Deutsche Bank Suit Injunction

    Billionaire Alexander Vik and his daughter on Monday asked a Connecticut state court judge to order multiple trials on claims they are pursuing against Deutsche Bank AG, which demand the bank hand over proceeds from a $65 million asset sale and permanently end a related lawsuit against them in Norway.

  • August 31, 2026

    Judge Says Risky Investments Wipe SVB's $1.7B FDIC Claim

    A California federal judge has ruled that a $1.7 billion claim by the parent of the failed Silicon Valley Bank against the Federal Deposit Insurance Corp. is more than offset by the more than $5 billion the parent's reckless investment strategy cost the bank.

  • August 31, 2026

    Korean Bank Whistleblower Suit May Be Bound For Arbitration

    The Second Circuit on Monday asked if whistleblower retaliation claims by four former compliance executives at the New York arm of a Korean bank should have been sent to arbitration — and if a judge should have bothered with the bank's dismissal bid.

  • August 28, 2026

    CFTC Can't Withhold Records In Chicago Exchange's Perps Suit

    A D.C. federal judge has ruled that the Commodity Futures Trading Commission cannot avoid handing over administrative records discussing approval of Kalshi's bitcoin perpetuals contract to the court, in a suit brought by a CME Group subsidiary challenging the agency's approval.

  • August 28, 2026

    Concora Credit Flouted FCRA When Hiring, Applicant Says

    Oregon-based financial services company Concora Credit violated the Fair Credit Reporting Act by not providing its prospective and current employees with consumer reports it obtained for background checks, according to a proposed class action filed in Washington federal court.

  • August 28, 2026

    Md. Pot Co. Evermore Faces Bid To Confirm $1.98M Award

    A California-based capital advisory firm is urging a state court to enforce a $1.98 million arbitration award it scored against Evermore Cannabis Company, which was found to have intentionally dodged fees it promised to pay the firm as part of a contract that helped the marijuana cultivator secure loans.

Expert Analysis

  • Quantum Readiness May Paradoxically Raise Contractor Risk

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    The organizations best positioned for the cryptographic system migration deadlines and other requirements under President Donald Trump’s recent quantum executive orders will be those able to inventory their cryptographic dependencies while protecting their vulnerability road map from adversaries, says Jesse Lemon at The Beckage Firm.

  • What Ex-CFPB Head's Calif. Role May Foretell For Oversight

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    California Gov. Gavin Newsom's selection of former Consumer Financial Protection Bureau Director Rohit Chopra to lead a new consumer agency signals tougher state financial services oversight, especially for fintechs, as well as heightened enforcement activity and larger penalties, say attorneys at WilmerHale.

  • Why SEC Climate Rule Rescission Wouldn't End Disclosure

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    If the U.S. Securities and Exchange Commission's recent proposal to rescind its 2024 climate-related disclosure rules is adopted, companies would no longer need to prepare for the rules' specific governance, emissions, attestation, financial statement and tagging requirements, but several important constraints would remain, say attorneys at Venable.

  • Have Private Suits Filled Gap Left By SEC's Crypto Pullback?

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    In the wake of the U.S. Securities and Exchange Commission's regulatory retreat in the crypto space, private litigants have pursued claims across different types of crypto-related activities and market participants, but whether private lawsuits have replaced SEC enforcement remains unclear, says Simona Mola at NERA.

  • New Va. Finance Laws Signal Consumer Protection Push

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    Virginia's 2026 legislative session produced several noteworthy developments for financial institutions, including garnishment reforms, mortgage assumption requirements and debt collection reforms, signaling broader trends toward increased consumer protection, enhanced fraud prevention obligations and greater accountability in financial services operations, says Jay Spruill at Woods Rogers.

  • High Court's FCC Fine Ruling Reframes Agency Enforcement

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    The U.S. Supreme Court's recent decision in Federal Communications Commission v. AT&T sweeps aside uncertainty about what kinds of regulatory enforcement trigger a Seventh Amendment right, say attorneys at Squire Patton.

  • Series

    Choral Singing Makes Me A Better Lawyer

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    Singing in the New York City Bar Chorus — a hobby partly inspired by the late U.S. District Judge Richard Owen, who infused my clerkship year with opera music — has improved my legal career by refining my abilities to listen, exude confidence and develop emotional intelligence, says Bonnie Baker at Friedman Kaplan.

  • What Ratings Overhaul May Mean For Banking Industry

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    Proposed revisions to the bank rating system commonly known as CAMELS could constrain examiner discretion and tie supervisory outcomes more closely to measurable financial risk, potentially saving compliance costs, reducing the frequency of ratings downgrades and spurring a more growth-oriented banking system, say attorneys at Debevoise.

  • Series

    Illinois Banking Brief: All The Notable Legal Updates In Q2

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    The last three months were particularly consequential for Illinois banking law, with a federal court ruling reshaping the Interchange Fee Prohibition Act, the state filling enforcement gaps, significant legislative activity and a revision to the community bank leverage ratio, say attorneys at Riley Safer.

  • Attorney Mental Health Is An Ethical Obligation In The AI Era

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    As attorneys cope with the increasing unpredictability that artificial intelligence and constant policy changes have created, particularly in practice areas where they carry the emotional weight of clients’ most consequential life events, otherwise soft discussions about self-care are a matter of professional competence, says attorney Jack Jrada.

  • Tariff Refunds May Reshape Loan Covenant Calculations

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    Tariff refunds issued after the U.S. Supreme Court's Learning Resources decision may complicate borrowers' covenant calculations depending on accounting treatment, the timing of recognition, customer reimbursement obligations and credit agreement language, say attorneys at Mayer Brown.

  • 3 Steps For Banks As Section 1071 Rule Finally Becomes Final

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    Some community banks and other lenders will get some breathing room in the final Section 1071 rule exempting them from small business lending reporting duties, but other reporting institutions should update applications, systems and staff training ahead of the 2028 compliance date, says Memrie Fortenberry at Jones Walker.

  • Prediction Market Case Will Test US Insider Trading Reach

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    The insider trading case recently brought against Google employee Michele Spagnuolo may help clarify the extraterritorial reach of the Commodity Exchange Act and U.S. agencies' ability to police foreign trading in prediction markets, say attorneys at Akin.

  • The Hidden Settlement Problem In Complex Securities Cases

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    The Second Circuit's recent decision in Knapp v. Barclays is a reminder that in securities cases with complex corporate records, the tracing picture is rarely as settled as the complaint suggests, and that conversations in the early stages require everyone to work from the same underlying facts, says Peter Kamminga at JAMS.

  • Series

    Power To The Paralegals: Burnout As A Structural Problem

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    Law firm leadership can best retain their paralegals not by encouraging self-care, but by seeking top-down structural solutions for the quiet proliferation of responsibilities and the vicarious exposure to client trauma that particularly drive burnout in this vital role, says Erika Sneeringer at Brockstedt Mandalas.

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