Banking

  • August 21, 2025

    BlockFi Judge Urged To OK $13M Deal As Objector Withdraws

    Investors who reached a $13.2 million settlement with the failed cryptocurrency lender BlockFi Inc. have urged a federal judge to move forward with the plan now that a class member has withdrawn his objections to the deal.

  • August 21, 2025

    Conn. Resident Lost $1.2M In AI Crypto Scam, Feds Say

    Federal authorities want to condemn two cryptocurrency wallets tied to a scam that ripped off a Connecticut resident for $1.2 million, according to a forfeiture complaint that says the victim was roped into a fraudulent "school" that supposedly used highly accurate artificial intelligence to make trading recommendations.

  • August 21, 2025

    DC Circ. Lets Trump's NCUA Board Purge Stand Amid Appeal

    A D.C. Circuit panel said Thursday that the Trump administration can continue blocking two ousted National Credit Union Administration leaders from returning to the agency's board while it appeals a lower-court ruling reinstating them.

  • August 21, 2025

    CFPB Calls For Input On Open-Banking Fees, Access Issues

    The Consumer Financial Protection Bureau is taking a first step toward reopening its Biden-era open-banking rule, issuing a fresh call for comment on key sticking points that have divided banks and fintech firms and become a focus of industry litigation.

  • August 21, 2025

    KKR Leads Bidding War For Nissan HQ, Plus More Rumors

    Private equity firm KKR is said to be dominating in a bidding war for Nissan Motor's headquarters in Japan, Jared Kushner's private equity firm is rumored to have taken a minority stake in British bank OakNorth, and railroad giant CSX is reportedly facing pressure from activist investment firms to pursue a merger. Here, Law360 breaks down these and other deal rumors from the past week.

  • August 21, 2025

    SEC Taps Military Judge To Head Enforcement Efforts

    The U.S. Securities and Exchange Commission on Thursday announced the appointment of a senior judge in the U.S. Court of Appeals for the Armed Forces to lead its enforcement division.

  • August 21, 2025

    Gov't Shrugs Off Sentencing Errors, IRS Leaker Tells DC Circ.

    The IRS contractor appealing his five-year prison sentence for leaking thousands of wealthy people's tax returns to the media accused the U.S. of glossing over sentencing errors that unfairly burdened him with "the harshest sentence possible," he told the D.C. Circuit.

  • August 21, 2025

    OCC Ends Action Over Anchorage Digital's AML Program

    The Office of the Comptroller of the Currency lifted a consent order against Anchorage Digital Bank on Thursday, marking the resolution of a 2022 action that accused the crypto bank of deficiencies in its anti-money laundering compliance program.

  • August 21, 2025

    NY Appeals Court Throws Out Trump's $500M Fraud Penalty

    A divided New York state appeals court panel on Thursday tossed a nearly $500 million civil fraud penalty against President Donald Trump and his sons, companies and their executives, ruling that the fine was "excessive," but kept in place a judge's finding of liability.

  • August 20, 2025

    Credit Union, Customers Notch Deal In Data Breach Suit

    OE Federal Credit Union and a proposed class of current and former customers revealed Wednesday that they have reached a deal to resolve litigation over a 2023 cyberattack, a day after the federal judge overseeing the case refused to cut negligence, California Consumer Privacy Act and several other claims from the dispute. 

  • August 20, 2025

    Visa Deal Does Not Bar Other Swipe Fee Claims, Judge Rules

    A New York federal judge on Wednesday ruled that Visa cannot enforce a $5.54 billion settlement in long-running multidistrict antitrust litigation against a class of Visa debit cardholders in a separate, similar suit, finding that the deal does not cover their claims, and therefore the claims can't be released.

  • August 20, 2025

    GOP Sens. See Path To Crypto Market Structure Law This Year

    Republican lawmakers and regulators this week previewed plans to finish cryptocurrency market structure legislation before year's end and continue reducing scrutiny from banking regulators during a multiday event that brought officials and industry participants together in Wyoming.

  • August 20, 2025

    Ohio Justices Free Bank From $77M Guaranty Disclosure Duty

    The Ohio Supreme Court on Wednesday ruled that nothing in state law required Huntington Bank to inform a co-signer of a $77 million loan guaranty about the risks associated with signing the deal with two other partners, one of whom later pled guilty to a check-kiting scheme.

  • August 20, 2025

    7th Circ. Backs JPMorgan Traders' Fraud, Spoofing Convictions

    The Seventh Circuit on Wednesday refused to throw out the convictions of three former JPMorgan traders for manipulating the market with fake orders for precious metals, saying there was "ample evidence" backing the jury's verdicts and that a recent U.S. Supreme Court decision doomed one of their key arguments on appeal.

  • August 20, 2025

    Texas AG Says Chase Can't Recoup Failed $10M Project

    The Texas Office of the Attorney General on Wednesday asked the state's highest court to reject JPMorgan Chase Bank NA's attempt to get a city to continue to make payments on a botched $10 million project, saying such payments would run afoul of the Texas Constitution.

  • August 20, 2025

    Mortgage Firm Settles Harassment, Retaliation Lawsuit

    CrossCountry Mortgage LLC and a branch manager have reached a settlement with a former employee in a sexual harassment and retaliation suit, the parties recently announced.

  • August 20, 2025

    Crypto Groups Resist Banks' Stablecoin 'Loophole' Claims

    Cryptocurrency groups have told U.S. Senate lawmakers that banking industry groups are attempting to relitigate issues put to rest with a recently enacted federal law to regulate stablecoins, arguing that the banking groups' proposals to use separate, pending legislation to close alleged "loopholes" would disadvantage the crypto sector.

  • August 20, 2025

    Rising Star: Latham's Mike Waldman

    Michael H. Waldman of Latham & Watkins LLP helped guide a landmark $2 billion private credit loan to Dropbox last year and has advised on multiple billion-dollar cross-border financing deals, earning a spot among the banking law practitioners under age 40 honored by Law360 as Rising Stars.

  • August 20, 2025

    IRS Lost Lien In Bankruptcy, Man Says In $28M Tax Battle

    The Internal Revenue Service jettisoned any federal tax lien it claims to have against a man by filing an unsecured claim in his bankruptcy case, he told a Florida federal court Wednesday in response to the government's $28 million lawsuit against him.

  • August 20, 2025

    Trump Says Fed's Cook 'Must Resign' Amid Loan Fraud Claim

    President Donald Trump's Federal Housing Finance Agency chief on Wednesday accused Federal Reserve Gov. Lisa Cook of potential mortgage fraud and said he has referred the matter to federal prosecutors, prompting Trump to call for Cook's immediate resignation — a call she has rejected.

  • August 19, 2025

    CFPB Ends 'Biased' Investigation Of Gun-Financing Fintech

    Credova, a fintech firm specializing in buy-now, pay-later financing for firearms and outdoor recreational goods purchases, is no longer facing what the Consumer Financial Protection Bureau now says was a "politically motivated" investigation on its part, the firm's parent company announced Tuesday.

  • August 19, 2025

    FDIC Seeks To Pare Down Biden-Era Digital Signage Rule

    The Federal Deposit Insurance Corp. moved Tuesday to relax its Biden-era digital signage rule, issuing a proposed revamp that it said is aimed at addressing bank concerns about "implementation issues" arising from the new logo and disclosure requirements.

  • August 19, 2025

    BofA Knocks Out State Law Claims In Zelle Fraud Class Action

    A North Carolina federal judge partially sustained Bank of America's objections to a magistrate judge's recommendation allowing a proposed class action over alleged fraud on the peer-to-peer payment service Zelle to proceed, finding that the suit fails to plausibly plead claims under any of the asserted state consumer protection statutes.

  • August 19, 2025

    Wyoming Launches First State-Issued Stablecoin

    Wyoming on Tuesday became the first U.S. state to issue its own stable-value token, with public purchasing soon to come.

  • August 19, 2025

    Bribery Case Against Rep. Cuellar And His Wife Trimmed

    A federal judge agreed Tuesday to drop two counts from a bribery indictment against U.S. Rep. Henry Cuellar, D-Texas, and his wife, but said dropping the counts did not warrant dismissal of the entire indictment.

Expert Analysis

  • 11th Circ. Ruling Warns Parties To Follow Arbitral Rules

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    The Eleventh Circuit's recent decision in Merritt Island Woodwerx v. Space Coast is important for companies utilizing arbitration clauses because it clearly demonstrates the court's intent to hold noncompliant parties responsible in federal court — regardless of subsequent efforts to cure, says Ed Mullins at Reed Smith.

  • How The DOJ Is Redesigning Its Approach To Digital Assets

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    Two key digital asset enforcement policy pronouncements narrow the Justice Department's focus on threats like fraud, terrorism, trafficking and sanctions evasion and dial back so-called regulation by prosecution, but institutions prioritizing compliance must remember that the underlying statutory framework hasn't changed, say attorneys at Blank Rome.

  • At 'SEC Speaks,' Leaders Frame New Views

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    At the Practising Law Institute's recent SEC Speaks conference, U.S. Securities and Exchange Commission leadership highlighted the agency's significant priority changes, including in enforcement, crypto and artificial intelligence, say attorneys at Perkins Coie.

  • The Ins And Outs Of Consensual Judicial References

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    As parties consider the possibility of judicial reference to resolve complex disputes, it is critical to understand how the process works, why it's gaining traction, and why carefully crafted agreements make all the difference, say attorneys at Pillsbury.

  • Calif. Digital Assets Proposal Provides Only Partial Clarity

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    Recently proposed regulations under California's Digital Financial Assets Law answer some important questions about the new regime, particularly regarding its interaction with the state's money transmission law, but many key compliance questions remain, say attorneys at Stinson.

  • Opinion

    The BigLaw Settlements Are About Risk, Not Profit

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    The nine Am Law 100 firms that settled with the Trump administration likely did so because of the personal risk faced by equity partners in today's billion‑dollar national practices, enabled by an ethics rule primed for modernization, says Adam Forest at Scale.

  • Fla. Bill May Curb Suits Over Late-Night Collections Emails

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    A recently passed Florida bill exempting email communications from the Florida Consumer Collection Practices Act's quiet hours ban may significantly reduce frivolous lawsuits aimed at creditors and debt collectors who use email communications to collect outstanding balances from consumers, say attorneys at Holland & Knight.

  • Series

    Brazilian Jiujitsu Makes Me A Better Lawyer

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    Competing in Brazilian jiujitsu – often against opponents who are much larger and younger than me – has allowed me to develop a handful of useful skills that foster the resilience and adaptability necessary for a successful legal career, says Tina Dorr of Barnes & Thornburg.

  • Birthright Ruling Could Alter Consumer Financial Litigation

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    The U.S. Supreme Court’s upcoming decision about the validity of the nationwide injunctions in the birthright citizenship cases, argued on May 15, could make it much harder for trade associations to obtain nationwide relief from the Consumer Financial Protection Bureau's enforcement of invalid regulations, says Alan Kaplinsky at Ballard Spahr.

  • Energy Order Brings Risks For Lenders And Borrowers Alike

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    A recent executive order directing the attorney general to submit a report next month with recommendations for halting enforcement of state laws the administration says are hampering energy resources presents risks for lenders and borrowers using state-generated carbon credits, but proactive steps now can help insulate against adverse consequences, say attorneys at Faegre Drinker.

  • Series

    Power To The Paralegals: An Untapped Source For Biz Roles

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    Law firms looking to recruit legal business talent should consider turning to paralegals, who practice several key skills every day that prepare them to thrive in marketing and client development roles, says Vanessa Torres at Lowenstein Sandler.

  • Fledgling Crypto ATM Regs May Be Due For A Growth Spurt

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    As cryptocurrency ATM use and availability become more prevalent within the U.S. financial services ecosystem, states — only a few of which currently have a crypto ATM framework — may need to consider expanding legislation and regulation to accelerate consumer fraud protection practices, says Jason Noto at Polsinelli.

  • Series

    Playing Poker Makes Me A Better Lawyer

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    Poker is a master class in psychology, risk management and strategic thinking, and I’m a better attorney because it has taught me to read my opponents, adapt when I’m dealt the unexpected and stay patient until I'm ready to reveal my hand, says Casey Kingsley at McCreadyLaw.

  • Opinion

    Why It's Time To Retire The Efficient Market Hypothesis

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    As agentic artificial intelligence systems increasingly affect financial markets, the efficient market hypothesis no longer offers a viable foundation for legal and regulatory engagement, and a new theoretical foundation is needed, say Zachary Brenner, a student at California Western School of Law, and attorney Gary Brenner.

  • Key Aspects Of FDIC's Resolution Planning FAQ

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    The Federal Deposit Insurance Corp.'s recent FAQ on changes to its resolution plan rule ease burdensome requirements for some large institutions and exempt others from discussion of franchise components, making it easier for banks to finalize submissions before the July 1 deadline, say attorneys at Moore & Van Allen.

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