Banking

  • November 17, 2025

    Judge Pauses $3B Bond Enforcement Amid Citgo Auction

    A New York federal judge has paused enforcement of nearly $3 billion in defaulted Venezuelan-issued bonds until a winning bidder for the country's most important seizable asset — the parent company of the oil giant Citgo — is chosen in parallel proceedings in Delaware.

  • November 17, 2025

    Citi Investors Can't Have New Shot At Suit Over $400M Fine

    A New York federal judge has declined to revive a proposed securities fraud class action that accused Citigroup of concealing risk-management failures that led to a $400 million fine, ruling that investors' revamped complaint remains too thin to sustain the case.

  • November 17, 2025

    Chase Gets 2nd Shot At Pushing Bias Suit To Arbitration

    JPMorgan Chase Bank NA will have another chance to force a family's racial discrimination lawsuit into arbitration, a Seattle federal judge has ruled, modifying her earlier order that rejected the bank's arbitration effort.

  • November 17, 2025

    Ill. OKs Next Step For LevelField's Crypto-Focused Bank Bid

    LevelField Financial Inc. announced Monday that an Illinois regulator has given it the green light for the next step of its planned acquisition of Burling Bank, furthering its plan to launch an insured bank that offers crypto services with the help of its acquisition counsel Hunton Andrews Kurth LLP.

  • November 17, 2025

    Kansas City Bank Can't Nix Cert. Over Inmate Debit Card Fees

    A Washington federal judge has denied the Central Bank of Kansas City's bid to decertify a nationwide class in a suit accusing it of charging former jail inmates unfair fees on prepaid debit cards, billing the motion as "premature" on Friday while leaving room for the bank to raise the issue again later.

  • November 17, 2025

    Ex-Russian Gas CFO Resentenced To 6 Years For Tax Crimes

    A Florida federal judge handed a nearly six-year prison term to a Russian gas company's former chief financial officer, who was convicted for tax evasion after the Eleventh Circuit vacated a prior sentence earlier this year.

  • November 17, 2025

    WilmerHale Taps SEC's Former Investment Management Exec

    WilmerHale has hired a 24-year veteran of the U.S. Securities and Exchange Commission, who most recently was director of the agency's Division of Investment Management, to lead the firm's investment management practice.

  • November 14, 2025

    DOJ Targets North Korean IT Job Fraud, $15M Crypto Heist

    Four United States nationals and one Ukrainian have pled guilty in federal court to scheming with North Korea to help its citizens illegally secure remote information technology jobs with U.S. companies, the Department of Justice said Friday.

  • November 14, 2025

    Credit Suisse Bondholder Class Certified In Suit Over Collapse

    A New York federal judge has granted certification to a class of Credit Suisse bondholders and named Pomerantz LLP as class counsel in a securities fraud suit alleging the bank concealed the impact of quarterly losses and its inability to retain clients leading up to its takeover by UBS AG.

  • November 14, 2025

    Stanford Credit Union Says Pig Butchering Scam Suit Misfires

    Stanford Federal Credit Union has asked a federal judge to toss claims alleging it failed to reasonably investigate fraud allegations by a couple who claim they lost $600,000 in a so-called pig butchering investing scam, arguing the wire transfers are outside the Fair Credit Billing Act's scope.

  • November 14, 2025

    SEC Off-Channel Sweep Led To Recordkeeping Compliance

    Despite Chairman Paul Atkins' criticism of the U.S. Securities and Exchange Commission's previous off-channel communications settlements, that Biden-era enforcement sweep has boosted firms' recordkeeping compliance efforts, and a lack of big-dollar penalties on the horizon hasn't erased the pressure to comply, experts say.

  • November 14, 2025

    Bondi Taps SDNY To Investigate JPMorgan Over Epstein Ties

    U.S. Attorney General Pam Bondi on Friday tapped Manhattan U.S. Attorney Jay Clayton to investigate Jeffrey Epstein's ties to JPMorgan Chase & Co., former President Bill Clinton and others after President Donald Trump called for the probe while claiming that his alleged links to the financier were a "hoax."

  • November 14, 2025

    Crypto Firm Founder Gets 5 Years For $9.4M Fraud Scheme

    An Oklahoma federal court has ordered the co-founder of a cryptocurrency investment firm to serve five years in prison and pay more than $1.1 million for his role in a fraud conspiracy that involved making false promises of returns to thousands of investors via social media posts.

  • November 14, 2025

    Bank Receiver's $28M Fraud Claims Survive Dismissal Bid

    A receiver for a Puerto Rican bank has standing to pursue fraud claims against its owners and directors over what it describes as a $28 million fraud that led to the bank's collapse, a Florida federal judge ruled Friday.

  • November 14, 2025

    DOJ Official Among Trump Picks For District Courts

    President Donald Trump announced judicial nominees for federal courts in Tennessee, Indiana and Missouri on Friday, including a current U.S. Department of Justice official.

  • November 14, 2025

    DC Circ. Urged To Block Trump Org. From IRS Leaker's Appeal

    President Donald Trump's private business organization should not be allowed to intervene in a former IRS contractor's challenge to his prison sentence for leaking Trump's and other wealthy people's tax returns, the contractor told the D.C. Circuit, saying the organization's participation would unfairly bias the court.

  • November 14, 2025

    Fintech Co. Synapse's Ch. 11 Tossed After Failed Sale Efforts

    Former banking middleware firm Synapse Financial Technologies Inc.'s Chapter 11 has been dismissed by a California bankruptcy judge after the debtor said it didn't have the funds to try to sell its assets again.

  • November 14, 2025

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

    This past week in London has seen Freeths face a professional negligence claim from a Scottish car dealership, Rolls-Royce sue logistics giant Kuehne + Nagel, and a team of Oberon Investments Group investment managers sued by their former employer.  

  • November 13, 2025

    BofA, BNY Slam 'Razor-Thin' Epstein Enabling Claims

    Bank of America and the Bank of New York Mellon Corp. urged a Manhattan federal judge Thursday to toss lawsuits accusing them of enabling Jeffrey Epstein's sex trafficking enterprise and failing to timely report the late sex offender's suspicious transactions, saying "razor-thin allegations" don't connect the institutions to the crimes.

  • November 13, 2025

    2nd Circ. Backs Chase In Suit Over Fraud Denial Mistake

    The Second Circuit determined on Thursday that JPMorgan Chase Bank NA is shielded from liability under the Electronic Fund Transfer Act for mistakenly denying a customer's fraud claim, finding the bank established a bona fide error defense.

  • November 13, 2025

    As Backlogged SEC Reopens, Attys Jostle To 'Get In Line'

    Thousands of U.S. Securities and Exchange Commission employees who were sent home last month finally returned to their offices Thursday, and experts say it will likely take at least a month for them to catch up with a backlog of casework and submissions for initial public offerings.

  • November 13, 2025

    Bank Regulators Preview Timelines For Planned Fintech Rules

    Federal banking regulators say they're focused on executing their fintech rulemaking agendas in the coming months, with the Federal Deposit Insurance Corp. planning to circulate a stablecoin licensing regime by year's end and the Federal Reserve intending to provide fintechs easier access to its payment rails by the close of next year.

  • November 13, 2025

    OCC Must Deny Sony Bank's Crypto Charter Bid, Critics Say

    Banking and community interest groups are urging the Office of the Comptroller of the Currency to reject Sony Bank's bid to charter a cryptocurrency-focused offshoot, warning it could exceed the agency's authority and risk skirting longstanding banking system safeguards.

  • November 13, 2025

    Fed Frees SocGen, ICBC From 2018 Enforcement Orders

    The Federal Reserve said Thursday it has lifted a pair of 2018 consent orders against Société Générale SA and Industrial and Commercial Bank of China, ending long-running enforcement actions tied to alleged sanctions violations at the former and alleged anti-money-laundering deficiencies at the latter.

  • November 13, 2025

    Wells Fargo Must Face Mortgage Borrowers' Fee Claims

    Wells Fargo can't shed a proposed class action alleging it improperly charged mortgage borrowers certain fees and failed to properly remediate the issue, according to a ruling by a San Francisco federal judge, which also trimmed some claims.

Expert Analysis

  • 6 Shifts In Trump Tax Law May Lend A Hand To M&A Strategy

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    Changes in the Trump administration's recent One Big Beautiful Bill Act stand to create a more favorable environment for mergers and acquisitions, including full bonus depreciation and an expanded code section, say attorneys at K&L Gates.

  • How Crypto Embrace Will Affect Banks And Credit Unions

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    The second Trump administration has moved aggressively to promote crypto-friendly reforms and initiatives, and as the embrace of stablecoins and distributed ledger technology grows, community banks and credit unions should think strategically as to how they might use these innovations to best serve their customers, says Jay Spruill at Woods Rogers.

  • In NY, Long COVID (Tolling) Still Applies

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    A series of pandemic-era executive orders in New York tolling state statutes of limitations for 228 days mean that many causes of action that appear time-barred on their face may continue to apply, including in federal practice, for the foreseeable future, say attorneys at Sher Tremonte.

  • New Conn. Real Estate Laws Will Reshape Housing Landscape

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    With new legislation tackling Connecticut's real estate landscape, introducing critical new requirements and legal ambiguities that demand careful interpretation, legal counsel will have to navigate a significantly altered and more complex regulatory environment, say attorneys at Harris Beach.

  • Opinion

    Expert Reports Can't Replace Facts In Securities Fraud Cases

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    The Ninth Circuit's 2023 decision in Nvidia v. Ohman Fonder — and the U.S. Supreme Court's punt on the case in 2024 — could invite the meritless securities litigation the Private Securities Litigation Reform Act was designed to prevent by substituting expert opinions for facts to substantiate complaint assertions, say attorneys at A&O Shearman.

  • Iran Sanctions Snapback Raises Global Compliance Risks

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    ​The reimplementation of U.N. sanctions targeting Iran’s nuclear program​, under a Security Council resolution​'s snapback mechanism, and​ related actions in Europe and the U.K., may change U.S. due diligence expectations and enforcement policies, particularly as they apply to non-U.S. businesses that do business with Iran, says John Sandage at Berliner Corcoran.

  • 3rd Circ. Ruling Forces A Shift In Employer CFAA Probes

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    The Third Circuit's recent ruling in NRA Group v. Durenleau, finding that "unauthorized access" requires bypassing technical barriers rather than simply violating company policies, is forcing employers to recalibrate insider misconduct investigations and turn to contractual, trade secret and state-level claims, say attorneys at Sidley.

  • Glimmers Of Clarity Appear Amid Open Banking Disarray

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    The Consumer Financial Protection Bureau's vacillation over data rights rules has created uncertainty, but a recent proposal is a strong signal that open banking regulations are here to stay, making now the ideal time for entities to take action to decrease compliance risk, says Adam Maarec at McGlinchey Stafford.

  • Opinion

    High Court, Not A Single Justice, Should Decide On Recusal

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    As public trust in the U.S. Supreme Court continues to decline, the court should adopt a collegial framework in which all justices decide questions of recusal together — a reform that respects both judicial independence and due process for litigants, say Michael Broyde at Emory University and Hayden Hall at the U.S. Bankruptcy Court for the District of Delaware.

  • FTC's Consumer Finance Pivot Brings Industry Pros And Cons

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    An active Federal Trade Commission against the backdrop of a leashed Consumer Financial Protection Bureau will be welcomed by most in the consumer finance industry, but the incremental expansion of the FTC's authority via enforcement actions remains a risk, say attorneys at Hudson Cook.

  • How A New BIS Rule Greatly Expands Export Restrictions

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    The newly effective affiliates rule from the U.S. Department of Commerce's Bureau of Industry and Security restricts exports to foreign companies that are 50% or more owned by entities listed on the BIS entity list and the military end-user list — a major shift in U.S. export control enforcement, say attorneys at Simpson Thacher.

  • What Cross-Border Task Force Says About SEC's Priorities

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    The formation of the U.S. Securities and Exchange Commission's cross-border task force, focused on investigating U.S. federal securities law violations overseas, underscores Chairman Paul Atkins' prioritization of classic fraud schemes, particularly involving foreign entities, say attorneys at Cleary.

  • Series

    Traveling Solo Makes Me A Better Lawyer

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    Traveling by myself has taught me to assess risk, understand tone and stay calm in high-pressure situations, which are not only useful life skills, but the foundation of how I support my clients, says Lacey Gutierrez at Group Five Legal.

  • NY Zelle Suit Highlights Fraud Risks Of Electronic Payments

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    The New York attorney general's recent action against Zelle's parent company, filed several months after the Consumer Financial Protection Bureau abandoned a similar suit, demonstrates the fraud risks that electronic payment platforms can present and the need for providers to carefully balance accessibility and consumer protection, say attorneys at Weiner Brodsky.

  • Series

    Law School's Missed Lessons: Client Service

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    Law school teaches you how to interpret the law, but it doesn't teach you some of the key ways to keeping clients satisfied, lessons that I've learned in the most unexpected of places: a book on how to be a butler, says Gregory Ramos at Armstrong Teasdale.

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