Banking

  • September 22, 2026

    Trump Admin Sued Over $289M In Soon-To-Lapse CDFI Funds

    A business advocacy group has sued the Trump administration, seeking to force it to distribute over $289 million in congressionally appropriated funds meant to support community development financial institutions before the funds lapse at the end of the month.

  • September 22, 2026

    DOJ Says Fired NCUA Members Aren't Like Fed Officials

    The U.S. Department of Justice is urging the D.C. Circuit to reverse a district court order reinstating ousted National Credit Union Administration board members, arguing Congress didn't impose presidential removal restrictions on the NCUA and that the agency isn't analogous to the Federal Reserve.

  • September 21, 2026

    Crypto Co. Investor's 'Puzzle Pleading' Dooms Revenue Suit

    A Georgia federal judge has dismissed with prejudice a proposed class action alleging cryptocurrency technology company Bakkt Holdings Inc. and its executives misrepresented the stability of the company's crypto services revenue after it acquired a crypto platform, finding the complaint contains "puzzle pleading."

  • September 21, 2026

    TelexFree Investors' 2nd Bid For Cert. Called Futile

    A Massachusetts federal judge has once again rebuffed an attempt to certify a class of investors who say they lost money in the massive TelexFree Ponzi scheme, calling their second bite at the apple futile.

  • September 21, 2026

    Cigna Wins $1.8M In Fees After Payment Patent Fight

    A Texas federal magistrate judge has awarded Cigna Corp. nearly $1.8 million in legal fees in a case where it was cleared of infringing a card payment patent, just days after he said a shopping mall owner and gift card company were also entitled to fees in the legal battle.

  • September 21, 2026

    4th Circ. Won't Rethink Cutting $22M Wells Fargo Judgment

    The Fourth Circuit declined Monday to reconsider its decision cutting nearly $2.9 million from a former Wells Fargo employee's $22 million jury award and overturning portions of the verdict in his disability discrimination suit against the financial giant.

  • September 21, 2026

    Ex-Bank CEO Gets 9 Years For Fraud, Sanctions Evasion

    The former CEO of the Puerto Rico-based Nodus International Bank was sentenced to nine years in prison after pleading guilty to running a scheme that stole more than $13.6 million from the now-collapsed bank and evading sanctions on Venezuela.

  • September 21, 2026

    Lenders Say Baltimore Property Flips Fueled $10M Fraud

    Two wholesale asset-based mortgage lenders have accused a cadre of appraisers, title companies and real estate investors of passing off inflated appraisals on nearly 60 Baltimore homes and causing more than $10 million in loan losses.

  • September 21, 2026

    Ready Capital Beats Investor Suit Over Real Estate Loan Woes

    A New York federal judge has tossed, with prejudice, a consolidated class action against real estate finance company Ready Capital Corp., finding that the suit "comes dangerously close to 'puzzle pleading'" and that there is no evidence the defendants committed fraud prior to revealing struggles in its commercial real estate loan portfolio.

  • September 21, 2026

    Homeowners Say Home Equity Co. Sells Predatory Products

    A proposed class of North Carolina homeowners claimed in a federal lawsuit that Unison Agreement Corp. and related companies locked them into predatory, usurious and misleading home equity sharing agreements.

  • September 18, 2026

    3rd Circ. Says SBA Can Deny Excess PPP Loan Forgiveness

    A New Jersey car dealership that exceeded the federal limit on Paycheck Protection Program loans early in the COVID-19 pandemic is not entitled to partial loan forgiveness, the Third Circuit ruled Friday, holding that the Small Business Administration acted within its authority when it denied the company's relief bid.

  • September 18, 2026

    Fed 'Risk Aversion' Contributed To SVB's Failure, Report Says

    A "culture of risk aversion" and diffusion of decision-making among Federal Reserve supervisory staff, not deregulation or social media chatter, contributed to the 2023 collapse of Silicon Valley Bank, according to initial findings from a new post-mortem review.

  • September 18, 2026

    OCC Approves 3 Trust Charters For Stablecoin Businesses

    The Office of the Comptroller of the Currency on Friday granted conditional trust charters to fintechs Bastion Platforms, Catena and Agora, which all plan to expand their stablecoin and crypto offerings as national trust banks.

  • September 18, 2026

    DraftKings' Owner Urges PTAB To Invalidate Lutnick's Patent

    The owner of DraftKings has asked the Patent Trial and Appeal Board to invalidate a mobile wagering system patent that lists U.S. Secretary of Commerce Howard Lutnick as its lead inventor.

  • September 18, 2026

    Oppenheimer Customers Win Final Approval For $70M Deal

    A New York federal judge on Friday granted final approval to a $70 million settlement between Oppenheimer & Co. and a class of customers that resolves claims that the investment bank pocketed hefty fees from its cash sweep account program while paying customers "unreasonable, below-market interest rates."

  • September 18, 2026

    Fla. Firm Looks To Dodge Bank's DQ Bid In Trade Secrets Suit

    Florida-based Trenam Law fought Friday against a disqualification bid in a trade secrets case over residential solar lending technology, arguing that its prior representation of defendant Climate First Bank ended two years ago and was limited to handling a few real estate deals.

  • September 18, 2026

    JPMorgan Likely Can't Void Arbitration Loss Over Food Platter

    A California federal judge has said he is unlikely to vacate an arbitration panel's decision awarding a wealth manager $4.25 million from a JPMorgan Chase & Co. subsidiary, saying that although he finds the panel's award "exceptionally questionable," it doesn't meet the standard for the court to undo the decision.

  • September 18, 2026

    Epstein Survivors Seek Class Cert. In FirstBank Suit

    A proposed class of women who were sexually abused or trafficked by Jeffrey Epstein or his co-conspirators has asked a New York federal judge for certification in a suit alleging FirstBank Puerto Rico was complicit in the convicted sex offender's crimes as it was his "longest-serving" banking partner.

  • September 18, 2026

    Russia Calls Oschadbank's $1.1B Award Suit 'Chicanery'

    Russia has urged a New York federal judge to dismiss or transfer Oschadbank's lawsuit seeking recognition of a French court decision that rejected Russia's attempt to annul a $1.1 billion arbitral award, accusing the Ukrainian state-owned bank of filing in New York to evade unfavorable precedent in Washington, D.C.

  • September 18, 2026

    Latham Picks Ex-Fried Frank PE Pro For DC Office

    Latham & Watkins LLP has hired ex-Fried Frank private equity partner Ryan S. Plasky for a partner role on its banking and private credit team in Washington, D.C., the firm announced.

  • September 18, 2026

    Claims In Tech Exec's Stock Theft Suit Sent To Arbitration

    A New York federal judge has sent claims against a manager of lender W Management Services and agent SRT Capital SPC Ltd. to arbitration in a wide-ranging suit brought by an Aeva Technologies co-founder who alleges Credit Suisse provided "institutional cover" to conspirators who stole tens of millions of dollars.

  • September 18, 2026

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

    The past week in London has seen Victoria's Secret and Thomas Pink file competing IP claims, more than 1,000 retail consumers launch a group action against Binance, Baker Hughes targeted in a commercial claim by its former Russian subsidiary and university students hit four British institutions with breach of contract claims over pandemic-era closures.

  • September 17, 2026

    FDIC Pitches Plan For Faster Bank Merger Reviews

    The Federal Deposit Insurance Corp. moved Thursday to revamp its procedures for vetting bank mergers, floating a package of proposed changes that could speed up the agency's reviews for many transactions and lead to fewer getting held up over competition concerns.

  • September 17, 2026

    Skycom Engineer Says Huawei Was His Real Boss In Iran

    A Tehran-born engineer who has since become a U.S. citizen on Thursday testified that he worked for Huawei on projects for the Iranian government, despite technically being employed by what prosecutors say was a thinly veiled subsidiary that the Chinese telecommunications company used to evade U.S. sanctions.

  • September 17, 2026

    9th Circ. Revives Laos' $5M Enforcement Bid In Casino Case

    The Ninth Circuit on Thursday revived the government of Laos' bid to enforce some $5 million in arbitral awards against an entrepreneur who was not party to an underlying arbitration stemming from an ill-fated casino venture, saying a lower court should have taken a closer look at the government's arguments.

Expert Analysis

  • 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.

  • 11th Circ. Ruling Reflects Shift In Digital Consent Frameworks

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    The Eleventh Circuit's recent decision in Tejon v. Zeus Networks that a browsewrap terms-of-service hyperlink was insufficiently conspicuous to bind a consumer to an arbitration agreement could accelerate a broader industry shift to clickwrap as the baseline for enforceable digital consent, say attorneys at Sheppard.

  • Ill. Law Firm MSO Bill Clashes With Court Power, Ethics Rules

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    An Illinois bill prohibiting law firms from certain business arrangements with management service organizations, sent to the governor for signature last week, encroaches upon the courts' constitutional powers and goes beyond the Illinois Rules of Professional Conduct in regulating investment in law-related services, says Matthew O’Hara at Smith Gambrell.

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