Fintech

  • November 25, 2020

    Wells Fargo Loses PTAB Challenge Over Check Deposit IP

    Two United Services Automobile Association mobile check deposit patents have escaped Patent Trial and Appeal Board review unscathed after a determination that challenger Wells Fargo, which a jury said should pay $200 million for infringing one of the patents and a separate patent, didn't show the claims were obvious.

  • November 25, 2020

    Ex-Credit Suisse Regulatory Head Joins Libra Networks As GC

    The Libra Association has brought aboard a former Credit Suisse managing director and banking regulator to serve as general counsel for its operating subsidiary Libra Networks LLC as the organization pushes forward on its digital currency initiative.

  • November 25, 2020

    Judge Won't Order Ch. 11 Freeze On Crypto Firm's Assets

    Creditors of bankrupt cryptocurrency investment venture Cred Inc. lost a bid Wednesday to have the Delaware Bankruptcy Court order certain currency exchanges to freeze assets they say are linked to fraudulent diversions from the company.

  • November 25, 2020

    MoFo Pans 'Self-Righteous Say-So' In Maternity Bias Case

    Morrison & Foerster LLP has fired off a final effort to shut down allegations that the firm discriminates against mothers before the claims wind up before a jury, insisting that the two accusers remaining in the litigation ignore the facts and rely on "self-righteous say-so."

  • November 25, 2020

    Intuit Will Ditch Credit Karma Tax Biz To Save $7.1B Deal

    Intuit will have to sell off Credit Karma's tax business to win the U.S. Department of Justice's blessing for its $7.1 billion acquisition of the credit reporting upstart, the agency revealed Wednesday.

  • November 25, 2020

    4 Key Insurance Appeals To Watch In December

    Appeals courts will take on several important insurance coverage issues in 2020's final month, with the Delaware Supreme Court set to weigh whether an excess insurer must contribute to Dole's $222 million settlements of stockholder suits and Indiana's high court primed to consider whether a ransomware attack is covered by crime insurance. Here, Law360 breaks down four insurance appeals attorneys will be watching in December.

  • November 24, 2020

    Yellen At Treasury Could Set Stage For More Active FSOC

    The selection of former Federal Reserve Chair Janet Yellen to serve as treasury secretary in the incoming Biden administration could position the Financial Stability Oversight Council to step up its scrutiny of the nonbank sector, a corner of the financial system that is drawing renewed concerns about its potential fragility.

  • November 24, 2020

    CFTC Seeks Default Judgment Of $3.9M Forex Scam

    The U.S. Commodity Futures Trading Commission on Monday asked a federal judge in Atlanta to give it an automatic win in litigation against a bogus forex trader who conned more than 10,000 investors out of a total $3.9 million selling a phony foreign exchange trading software product.

  • November 24, 2020

    Debevoise Guides Russian E-Commerce Firm's Near-$1B IPO

    Russian e-commerce platform Ozon Holdings PLC went public Tuesday after raising nearly $1 billion in an upsized initial public offering, steered by Debevoise & Plimpton LLP and underwriters counsel Latham & Watkins LLP.

  • November 24, 2020

    Coinbase Ending Margin Trading Based On CFTC Guidance

    Cryptocurrency exchange Coinbase announced Tuesday that it will disable its margin lending product in response to guidance issued by the U.S. Commodity Futures Trading Commission in March, shuttering the platform less than a year after its launch. 

  • November 24, 2020

    Coinbase Ditches 1099-K Form For Next Year

    Coinbase Inc., which is a virtual currency exchange, will not provide Forms 1099-K to its U.S.-based customers next year, the company said in updated guidance published Tuesday. 

  • November 24, 2020

    How Firms Can Prep For A More 'Aggressive' SEC

    With a Joe Biden presidency around the corner and U.S. Securities and Exchange Commission Chairman Jay Clayton officially announcing he'll depart by year-end, industry attorneys believe in-house legal and compliance professionals at financial firms should expect a more aggressive incoming enforcement regime.

  • November 24, 2020

    SEC Proposes Easing Stock Sales Rules For 'Gig' Workers

    A divided U.S. Securities and Exchange Commission proposed rules on Tuesday easing how private companies can compensate workers through stock, including short-term "gig" workers who are not traditional employees and depend on equity absent a steady paycheck.

  • November 23, 2020

    Trade Groups Press Case In CFPB Payday Rule Suit

    Two payday lender trade groups told a Texas federal judge that the Consumer Financial Protection Bureau still hasn't shown why it should be allowed to move forward with the remainder of its 2017 payday lending rule, pressing to bring their more than two-year-old court challenge to a close.

  • November 23, 2020

    SEC Urges China-Based Issuers To Beef Up Risk Warnings

    The U.S. Securities and Exchange Commission on Monday urged China-based issuers to fully disclose risks regarding the reliability of their financial statements and related legal matters, marking the latest attempt by regulators to answer concerns that investors may not be getting full information.

  • November 23, 2020

    CFPB Insists Student Loan Biz And Exec Must Cough Up $53M

    The U.S. Consumer Financial Protection Bureau asked a California district judge on Monday — for a second time — to make a business owner and his firm pay more than $53 million for their role in an alleged $11.8 million student debt relief scheme.

  • November 23, 2020

    DOJ Says Visa Pushing 'Infeasible' Merger Trial Timeline

    The U.S. Department of Justice has blasted Visa and Plaid for pushing an "infeasible" timeline for a trial over their proposed $5.3 billion tie-up that is seven months sooner than the agency's preferred September start date.

  • November 23, 2020

    Ex-Fed Chair Yellen Is Biden's Pick For Treasury Secretary

    President-elect Joe Biden is expected to announce former Federal Reserve Chair Janet Yellen as his nominee for Treasury secretary, picking the esteemed economist to become potentially the first woman to serve in the key Cabinet position, according to media reports on Monday.

  • November 23, 2020

    Judge Nixes Suit For Crypto Co. Investor's $728K Atty Fees

    A New York federal judge tossed a lawsuit by an alleged pump-and-dump scheme mastermind asking for his attorney fees to be paid by a cryptocurrency company involved in the alleged scheme, ordering the man to pay the company's fees instead.

  • November 20, 2020

    Fla. Judge Says Attys On 'Thin Ice' After FCRA Claims

    A Florida federal judge issued a stern warning in lieu of sanctions Friday to two attorneys who lender BlueChip Financial and its CEO claimed had pursued frivolous Fair Credit Reporting Act violation claims against them, cautioning the lawyers that they were "on thin ice."

  • November 20, 2020

    Feds Knock Crypto Developer's Bid To Kill Sanctions Charge

    Federal prosecutors asked a New York federal judge to disregard a blockchain platform developer's bid to dismiss the indictment alleging he broke the law by helping North Korea try to circumvent U.S. sanctions using cryptocurrency.

  • November 20, 2020

    OCC Pitches Rule Requiring Banks To Provide 'Fair Access'

    The Office of the Comptroller of the Currency on Friday floated a proposed rule that would limit big banks' ability to turn away fossil fuel companies, gun manufacturers and other "politically controversial" businesses, citing concerns about the banking system being misused to advance ideological agendas.

  • November 20, 2020

    SEC Fights Abramoff Ally's Bid To Nix Bitcoin Fraud Suit

    The U.S. Securities and Exchange Commission told a California federal judge that its case against a Jack Abramoff-connected company and its CEO that allegedly bilked investors out of $5.6 million for a purportedly improved version of bitcoin should be allowed to go forward because the tokens are a security.

  • November 20, 2020

    SEC's Clayton Leaves Behind Market-Friendly Legacy

    Outgoing U.S. Securities and Exchange Commission Chairman Jay Clayton built a record that focused on easing capital formation from day one, a priority welcomed by capital markets attorneys, albeit over objections from investor protection advocates.

  • November 20, 2020

    NY Judge Grants Fiserv Unit's Exit From Pot Credit Card Row

    A New York federal judge on Thursday granted a bid by a unit of financial services provider Fiserv to exit an action over nearly $620,000 that was collected by embattled payment processor Linx Card for cannabis purchases at retailers around the country.

Expert Analysis

  • Opinion

    The Ill-Fated Emergence Of The Bitcoin Balance Sheet

    Author Photo

    Other corporations may follow MicroStrategy's lead and invest in problematic Bitcoin, in what appears to be a new chapter of irresponsible corporate behavior, says cybersecurity consultant John Reed Stark.

  • Ethics Reminders As Employees Move To Or From Gov't

    Author Photo

    Many organizations are making plans for executives to go into government jobs, or for government officials to join a private sector team, but they must understand the many ethics rules that can put a damper on just how valuable the former employee or new hire can be, say Scott Thomas and Jennifer Carrier at Blank Rome.

  • A Key To Helping Clients Make Better Decisions During Crisis

    Author Photo

    As the pandemic brings a variety of legal stresses for businesses, lawyers must understand the emotional dynamic of a crisis and the particular energy it produces to effectively fulfill their role as advisers, say Meredith Parfet and Aaron Solomon at Ravenyard Group.

  • Where Data Privacy And CFPB Are Headed Under Biden

    Author Photo

    Data privacy is likely to be a key area of legislative and enforcement focus for President-elect Joe Biden, and consumer financial protection is expected to be an immediate priority due to the economic impact of the pandemic, with the most drastic shift likely to occur at the Consumer Financial Protection Bureau, say attorneys at Gibson Dunn.

  • DOJ's Visa-Plaid Challenge Shows Email Can Imperil A Deal

    Author Photo

    The U.S. Department of Justice used a trove of internal Visa email and other communications to show how the $5.3 billion Plaid merger might limit competition — providing a cautionary tale of how internal documents can endanger a transaction that shows few antitrust concerns on the surface, says Tammy Zhu at Medallia.

  • Ethics Considerations For Law Firms Implementing AI

    Author Photo

    Richard Finkelman and Yihua Astle at Berkeley Research Group discuss the ethical and bias concerns law firms must address when implementing artificial intelligence-powered applications for recruiting, conflict identification and client counseling.

  • Picking The Right Location And Tools For Virtual Courtrooms

    Author Photo

    Attorneys should consider the pros and cons of participating in virtual court proceedings from home versus their law firm offices, and whether they have the right audio, video and team communication tools for their particular setup, say attorneys at Arnold & Porter.

  • Beware Atty Ethics Rules When Reporting COVID-19 Fraud

    Author Photo

    Attorneys considering blowing the whistle on False Claims Act violations by recipients of COVID-19 relief may face a number of ethical constraints on their ability to disclose client information and file qui tam actions, say Breon Peace and Jennifer Kennedy Park at Cleary.

  • Looking For Judicial Activists? Check The Footnotes

    Author Photo

    U.S. Supreme Court nominees typically face intense questioning over potential judicial activism, but a better way to gauge judges' activist tendencies may be to look at the footnotes in their opinions, say Christopher Collier at Hawkins Parnell and Michael Arndt at Rohan Law.

  • Best Practices For Legal Technology Adoption

    Author Photo

    The pandemic has accelerated the need to improve the practice of law through technology, but law firms and in-house legal departments must first ensure they have employee buy-in and well-defined processes for new digital tools, say Dan Broderick at BlackBoiler and Daryl Shetterly at Orrick.

  • Post-Breach Response To Business Email Scams Is Critical

    Author Photo

    Preventative measures do not sufficiently protect against email compromise scams, which have become increasingly prevalent during the pandemic, so businesses, governments and educational institutions should have post-breach investigation processes in place, says Jonathan Osborne at Gunster.

  • What The Biden-Harris Win Means For Securities Regulation

    Author Photo

    In this brief video, Amy Greer and Valerie Mirko at Baker McKenzie examine what a government led by Joe Biden and Kamala Harris could mean for the securities industry, regulatory leadership and financial policy.

  • The Pandemic's Long-Term Impact On Law Firm Operations

    Author Photo

    Brian Burlant at Major Lindsey looks at how pandemic-era remote work has changed the way law firms operate — from shifts in secretarial functions to associate professional development — and explains why some alterations may be here to stay.

  • Treasury Stance On Ransomware Payment Could Hurt Targets

    Author Photo

    Recent statements from two U.S. Department of the Treasury offices indicate that paying off ransomware with cryptocurrency may trigger certain registration requirements and U.S. sanctions scrutiny, placing a significant regulatory burden on cybervictims and their incident response consultants, say attorneys at McDermott.

  • Opinion

    Lack Of Access To Remote Court Proceedings Is Inexcusable

    Author Photo

    Blanket rules that bar recording or dissemination of remote public court proceedings impede presumptive common law and First Amendment right of access, greatly expand courts' powers over nonparties, and likely run afoul of U.S. Supreme Court precedent, says Matthew Schafer at ViacomCBS.

Want to publish in Law360?


Submit an idea
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!