Banking

  • 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.

  • October 22, 2025

    FINRA Hits Barclays With $150K Fine For IPO Work

    Barclays Capital Inc. has agreed to pay $150,000 to settle accusations that it violated the Financial Industry Regulatory Authority's conflict of interest rules when serving as an underwriter on a $700 million initial public offering.

  • October 22, 2025

    Texas Appeals Court Wipes $64M Judgment For Dallas Lender

    A Texas appellate court wiped away a $64 million award to the subsidiary of a Dallas investment company following alleged fraud by Credit Suisse surrounding lending for a luxury Nevada community, saying the lower court improperly found that the subsidiary could collect damages above zero dollars.

  • October 22, 2025

    Ex-Mars Candy Exec Must Forfeit Accounts After $28M Fraud

    A former Mars Inc. risk executive who pled guilty to a $28.4 million wire fraud and tax evasion scheme must forfeit eight personal financial accounts subject to third-party objections within 30 days, according to a preliminary order signed by a Connecticut federal judge.

  • October 22, 2025

    Bankers Ask FCC To Further Delay Call Consent Rule To 2027

    Financial service providers Monday pushed for the Federal Communications Commission to extend by a year the April 2026 deadline to implement a "revoke-all" rule making it easier to opt out of robotexts and calls while the agency reconsiders it, warning they could waste resources to comply if the rule is changed or modified.

  • October 22, 2025

    Crypto Firm Wins Freeze Of $8M In Allegedly Stolen Crypto

    A D.C. federal judge extended an order freezing the digital wallets of two D.C.-area men Wednesday after a Miami-based crypto trading firm claimed that the men used legitimate-looking business fronts to con the firm out of more than $8 million in a fraudulent bitcoin trade.

  • October 22, 2025

    Presidential Firing Limits Fight Builds At High Court

    The ousted U.S. Merit Systems Protection Board chair has encouraged the U.S. Supreme Court to include a caveat for "legislative courts" if it overturns precedent that empowers Congress to limit the president's authority to fire certain agency officials, but opponents of independent agencies want a clean break from the status quo. 

  • October 22, 2025

    OCC Drops $10M Fine, Ban In Wells Fargo Ex-Exec Deal

    The Office of the Comptroller of the Currency has agreed to end a long-running case accusing a former Wells Fargo risk officer of failing to prevent the bank's fake accounts scandal, striking a deal that drops its pursuit of a $10 million fine and industry ban.

  • October 22, 2025

    Baker Donelson Hires CFPB Veteran In DC

    Baker Donelson Bearman Caldwell & Berkowitz PC has hired for its Washington, D.C., team a 12-year veteran of the Consumer Financial Protection Bureau who brings more than two decades of legal experience working on financial services matters.

  • October 22, 2025

    Unions Pursue More Protection For Federal Workers In Shutdown

    Eight unions asked a California federal judge to step up the level of protection she provided to thousands of federal workers' jobs during the government shutdown, urging her to expand the number of jobs she's protecting and turn a temporary restraining order into a preliminary injunction.

  • October 22, 2025

    Ex-NY AGs Say James Case Will Rally Office: 'Fuel To The Fire'

    New York Attorney General Letitia James' criminal prosecution is unlikely to have any significant effect on the day-to-day operations of her office, including its suits against the federal government and an appeal in President Donald Trump's nearly $500 million civil fraud case, but former leaders of the office say it could strengthen the resolve of her staff.

  • October 22, 2025

    Crypto Exchange FalconX Snags ETP Provider 21shares

    Digital asset brokerage FalconX on Wednesday unveiled plans to buy cryptocurrency exchange-traded funds and products provider 21shares, a move that comes just over a month after the U.S. Securities and Exchange Commission eased listing standards for crypto ETPs.

  • October 22, 2025

    NC Biz Court Bulletin: COVID Coverage, A Suspect Signature

    The North Carolina Business Court has rounded the corner into fall with insurance disputes over COVID-19 coverage at a chain of outlet malls and the theft of over $900,000 in legal THC reportedly stolen from a warehouse in the Southwest.

  • October 21, 2025

    Fed's Waller Floats 'Skinny' Master Accounts For Fintechs

    Federal Reserve Gov. Christopher Waller on Tuesday proposed allowing financial technology firms to connect to the central bank's payment rails through specialized, "skinny" master accounts, a move he said could support payment innovation while keeping risks to the Fed in check.

Expert Analysis

  • Considerations For Cos. Amid Wave Of CFPB Vacatur Bids

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    As some entities look to vacate prior voluntary agreements with the Consumer Financial Protection Bureau, there are several considerations companies should take into account before seeking to vacate their settlements in the current legal and regulatory environment, says Jasmine Jean-Louis at Goodwin.

  • Rebutting Price Impact In Securities Class Actions

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    Defendants litigating securities cases historically faced long odds in defeating class certification, but that paradigm has recently begun to shift, with recent cases ushering in a more searching analysis of price impact and changing the evidence courts can consider at the class certification stage, say attorneys at Katten.

  • 7 Document Review Concepts New Attorneys Need To Know

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    For new associates joining firms this fall, stepping into the world of e-discovery can feel like learning a new language, but understanding a handful of fundamentals — from coding layouts to metadata — can help attorneys become fluent in document review, says Ann Motl at Bowman and Brooke.

  • Senate Bill Could Overhaul Digital Asset Market Structure

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    The Senate Banking Committee's draft Responsible Financial Innovation Act would not only clarify the roles and responsibilities of financial institutions engaging in digital asset activities but also impose new compliance regimes, reporting requirements and risk management protocols, say attorneys at Troutman.

  • Stablecoin Committee Promotes Uniformity But May Fall Short

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    While the Genius Act's establishment of the Stablecoin Certification Review Committee will provide private stablecoin issuers with more consistent standards, fragmentation remains due to the disparate regulatory approaches taken by different states, say attorneys at Morgan Lewis.

  • Agentic AI Puts A New Twist On Attorney Ethics Obligations

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    As lawyers increasingly use autonomous artificial intelligence agents, disciplinary authorities must decide whether attorney responsibility for an AI-caused legal ethics violation is personal or supervisory, and firms must enact strong policies regarding agentic AI use and supervision, says Grace Wynn at HWG.

  • The Consequences Of OCC's Pivot On Disparate Impact

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    The Office of the Comptroller of the Currency's recent move to stop scrutinizing facially neutral lending policies that disproportionately affect a protected group reflects the administration's ongoing shift in assessing discrimination, though this change may not be enough to dissuade claims by states or private plaintiffs, says Travis Nelson at Polsinelli.

  • Series

    Being A Professional Wrestler Makes Me A Better Lawyer

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    Pursuing my childhood dream of being a professional wrestler has taught me important legal career lessons about communication, adaptability, oral advocacy and professionalism, says Christopher Freiberg at Midwest Disability.

  • How FDIC Appeals Plan Squares With Fed, OCC Processes

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    The Federal Deposit Insurance Corp.'s recent proposal to revise its appeals process merits a fresh comparison to the appeals systems of the Federal Reserve and Office of the Comptroller of the Currency, and would provide institutions with greater transparency and independence, say attorneys at Alston & Bird.

  • SEC Rulemaking Radar: The Debut Of Atkins' 'New Day'

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    The U.S. Securities and Exchange Commission's regulatory flex agenda, published last week, demonstrates a clear return to appropriately tailored and mission-focused rulemaking, with potential new rules applicable to brokers, exchanges and trading, among others, say attorneys at Goodwin.

  • Series

    Law School's Missed Lessons: Adapting To The Age Of AI

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    Though law school may not have specifically taught us how to use generative artificial intelligence to help with our daily legal tasks, it did provide us the mental building blocks necessary for adapting to this new technology — and the judgment to discern what shouldn’t be automated, says Pamela Dorian at Cozen O'Connor.

  • Ch. 11 Ruling Voiding $2M Litigation Funding Sends A Warning

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    A recent Texas bankruptcy court decision that a postconfirmation litigation trust has no obligations to repay a completely drawn down $2 million litigation funding agreement serves as a warning for estate administrators and funders to properly disclose the intended financing, say attorneys at Kleinberg Kaplan.

  • Why Fla. Ruling Is A Call To Action For Foreclosure Counsel

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    A Florida state court's recent decision in Open Range Properties v. AmeriHome Mortgage has sent ripples through the banking industry and the legal community, and signals a new era of heightened scrutiny and procedural rigor in foreclosure litigation, says Andrew McBride and Adams & Reese.

  • Demystifying The Civil Procedure Rules Amendment Process

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    Every year, an advisory committee receives dozens of proposals to amend the Federal Rules of Civil Procedure, most of which are never adopted — but a few pointers can help maximize the likelihood that an amendment will be adopted, says Josh Gardner at DLA Piper.

  • A Foreign Currency Breach Won't Always Sink EB-5 Cases

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    Recent court decisions show that, while EB-5 investors must be able to show the lawfulness of their funds and methods of transfer, a third-party currency exchanger's violation of another country’s currency export control law does not, by itself, taint the funds for purposes of U.S. investment, says Jun Li at Reid & Wise.

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