Banking

  • September 26, 2025

    CFPB Hires Ex-Lobbyist For Top Policy Job Amid Rollbacks

    The Consumer Financial Protection Bureau has tapped a veteran financial industry lobbyist for a top policymaking job that will position him to spearhead the Trump administration's push to roll back regulation at the agency, Law360 has learned.

  • September 26, 2025

    Trump Says Cook Can't Rely On 'Mantra' Of Fed Independence

    The Trump administration Friday fired back at Federal Reserve Gov. Lisa Cook's argument that the Fed's independence is at stake if the president is allowed to fire her, arguing before the U.S. Supreme Court that Cook invokes "the mantra of Federal Reserve independence" to impose removal protections Congress never enacted.

  • September 26, 2025

    2 Firms Guide Heritage Bank's $177M Wash. Lender Buyout

    Washington-based Heritage Financial Corp. has agreed to acquire the parent company of community lender Kitsap Bank in a nearly $177 million all-stock transaction guided by Barack Ferrazzano Kirschbaum & Nagelberg LLP and Otteson Shapiro LLP.

  • September 26, 2025

    SEC To Weigh Waivers Alongside Enforcement Settlements

    U.S. Securities and Exchange Commission Chair Paul Atkins announced Friday the agency will return to a practice of allowing firms to request waivers from follow-on consequences of enforcement actions while they pursue settlement discussions to resolve their case.

  • September 26, 2025

    Swizz Beatz Can't Avoid $7.3M 1MDB Fraud Case

    A New York federal judge on Friday denied hip-hop artist Swizz Beatz's bid to dismiss a lawsuit that alleges he received millions of dollars in the infamous 1Malaysia Development Berhad fraud scandal, saying liquidators for two alleged shell companies sufficiently alleged fraudulent transfers of funds among other claims.

  • September 26, 2025

    Banks Evade Most Liability Claims In Copyright Suit

    A pair of banks had the majority of the liability claims against them tossed by a Colorado federal judge Friday in an architectural group's copyright lawsuit against a real estate developer, whose project they financed.

  • September 26, 2025

    SEC Eyes Tweaking RMBS Rules To Revive Dormant Market

    The U.S. Securities and Exchange Commission put out a call for public comments on improving its rules over residential mortgage-backed securities, noting that there have been no such public offerings in more than a decade and questioning whether the agency's requirements may be partially to blame.

  • September 26, 2025

    United Bank To Pay $2M Settling ESOP Class Action

    United Bank Corp. has agreed to pay $2 million to settle claims it booted former employees out of its employee stock ownership plan and cut them out of the proceeds of a $23.3 million dividend, according to a filing in Georgia federal court.

  • September 26, 2025

    2nd Circ. Urged To Rethink Afghan Central Bank Ruling

    Victims of two terrorist attacks have called on the en banc Second Circuit to reconsider a panel's August decision rejecting their attempts to secure blocked funds held by the central bank of Afghanistan, arguing the panel ignored U.S. Supreme Court and Second Circuit precedents.

  • September 26, 2025

    Capital One Resolves Ex-Workers' 401(k) Forfeiture Suit

    Capital One has agreed to end a proposed class action alleging it unlawfully used tens of millions of dollars in forfeited 401(k) funds to reduce its own contributions to the plan rather than curtail administrative costs, the company told a New York federal court.

  • September 26, 2025

    JPMorgan Must Face Mich. Firm's Fraud Debt Collection Suit

    JPMorgan Chase Bank must face a Michigan law firm's claim that the firm shouldn't have to repay debt for lines of credit a former controller took out fraudulently in the firm's name, a Michigan federal judge said, but the bank escaped allegations under the Michigan Consumer Protection Act.

  • September 26, 2025

    Wells Fargo Nears Deal With Investors In 'Sham' Hiring Suit

    Wells Fargo and investors who said they lost money after allegations surfaced that the bank conducted fake interviews to show it met diversity goals have told a California federal court they've reached a settlement in principle, less than two weeks after the company announced a deal in a derivative lawsuit over similar claims.

  • September 26, 2025

    Jones Day Hires NY Public Finance Attorney From Orrick

    Jones Day announced that its New York office has gained a former Orrick Herrington & Sutcliffe LLP lawyer who advises issuers, underwriters and lenders on public finance and real assets transactions.

  • September 26, 2025

    Taxation With Representation: De Brauw, Hengeler Mueller

    In this week's Taxation With Representation, power grid operator TenneT Holding sells a stake in its German transmission business to institutional investors, Pfizer Inc. acquires biotechnology company Metsera Inc., and Dutch brewer Heineken NV buys most of Costa Rica's FIFCO beverage and retail operations.

  • September 26, 2025

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

    This past week in London has seen Sanjeev Gupta’s Liberty OneSteel sue its collapsed former lender Greensill Capital, television personality Janice Dickinson hit ITV with a personal injury claim after falling over while appearing on “I’m a Celeb …”, and energy investor Blasket bring fresh litigation against Spain amid a row over a $416 million arbitration award. Here, Law360 looks at these and other new claims in the U.K.

  • September 25, 2025

    Standing Questions Loom In Mozambique LNG Loan Dispute

    The requirements for organizational standing dominated much of Thursday's oral argument over the Export-Import Bank of the United States' decision to back a massive liquefied natural gas project in Mozambique, as the challengers sought a preliminary injunction that could hinge on recent standing rulings from the D.C. Circuit and U.S. Supreme Court.

  • September 25, 2025

    Fed's Cook Warns Justices Of Fed Independence 'Death Knell'

    Federal Reserve Gov. Lisa Cook urged the U.S. Supreme Court on Thursday to reject President Donald Trump's bid to immediately oust her, warning that allowing her dismissal at this juncture would "sound the death knell" for an independent Fed.

  • September 25, 2025

    CashCall Urges Justices To Overturn $134M CFPB Award

    CashCall is asking the U.S. Supreme Court to overturn a Ninth Circuit order that left the loan company on the hook for $134 million in restitution to the Consumer Financial Protection Bureau, despite the firm's insistence that conflicting precedent deprived it of its right to a jury trial.

  • September 25, 2025

    Big Banks Beat Yearslong Libor-Rigging Claims In NY

    A New York federal judge Thursday disposed of the remaining claims in long-running multidistrict litigation accusing Bank of America, Merrill Lynch and more than a dozen other large banks of Libor manipulation.

  • September 25, 2025

    Atkins Hints At Flexible Reporting Deadlines For Public Cos.

    With the U.S. Securities and Exchange Commission preparing to seek public feedback on President Donald Trump's proposal that public companies be allowed to report their financial results only twice a year, agency Chair Paul Atkins suggested Thursday that the SEC may not take a "one-size-fits-all" approach. 

  • September 25, 2025

    Cleo AI Military Lending Suit Paused Amid 9th Circ. Appeal

    A Washington federal judge has halted proceedings in an Army staff sergeant's proposed class action alleging Cleo AI Inc. violates the Military Lending Act by employing predatory lending practices through its cash advances.

  • September 25, 2025

    BBVA's Boosted $23B Sabadell Bid Gets Approval In Spain

    Spain's securities regulator, the Comisión Nacional del Mercado de Valores, has approved BBVA's revised offer to Banco Sabadell shareholders, which includes a 10% increase in consideration and more favorable tax treatment, the lender announced Thursday. 

  • September 25, 2025

    Mich. Judge Backs $778M Judgment Against Auto Parts Mogul

    A Michigan federal judge on Thursday said Alter Domus LLC can pursue a judgment against a Detroit-area businessman's trust in a decades-old dispute over a guaranty agreement, renewing the more than $770 million award to the administrative agent after determining it properly took over the case from JPMorgan Chase.

  • September 25, 2025

    DC Circ. Backs Whistleblower In IRS Award Dispute

    A whistleblower who received millions of dollars in awards for helping the IRS nab prominent Wall Street firms that helped offshore hedge funds evade taxes was wrongly blocked from receiving millions more, the D.C. Circuit ruled.

  • September 25, 2025

    Flagstar Seeks Instant Win In Ex-Live Well VP Fraud Case

    Flagstar Bank has urged a Michigan federal judge to grant it an early win against a former executive of the now-bankrupt Live Well for his role in a scheme to defraud lenders by inflating the value of bonds, saying because the executive already pled guilty to securities fraud, he cannot now deny liability in the bank's civil case.

Expert Analysis

  • 9th Circ. Has Muddied Waters Of Article III Pleading Standard

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    District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.

  • Series

    Competing In Modern Pentathlon Makes Me A Better Lawyer

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    Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.

  • 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.

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