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Fintech
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October 09, 2025
Fintech Exec May Claim Double Jeopardy Amid Judge Shuffle
A former executive of payment processor Allied Wallet has filed a double jeopardy motion after the initial Massachusetts federal judge overseeing the fraud case recused himself, a second declared a mistrial and exited due to a family emergency, and a third flagged a potential conflict with a prosecutor.
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October 08, 2025
Big Banks' Gain Could Be Small Banks' Pain, Fed's Barr Says
Federal regulators' plans to ease capital rules and other supervisory safeguards at big banks may jeopardize financial stability and leave community banks to pick up the pieces if something goes wrong, Federal Reserve Gov. Michael Barr warned in a speech Wednesday.
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October 08, 2025
Kalshi Accused Of Violating SC, Federal Gambling Laws
Trading platforms Kalshi and Robinhood are being sued in South Carolina on allegations that they violate the state's strict anti-gambling laws by offering sports betting and operating a "prediction market" for state residents.
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October 08, 2025
Kalshi Fights Ohio Ban As Pa. Flags Sports Betting Loophole
The clash between state gaming regulators and federally regulated platforms offering sports wagers continued this week as Kalshi sued Ohio agencies over a directive to shut down its sports event contracts, while Pennsylvania's Gaming Control Board warned Congress that prediction markets broadly "create a backdoor to legalized sports betting."
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October 08, 2025
North Dakota To Issue Stablecoin Through State-Owned Bank
North Dakota on Wednesday announced plans to issue its own stable-value token through a partnership between fintech Fiserv Inc. and the state-owned Bank of North Dakota.
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October 08, 2025
Crypto Co. Sues Mercury Funds Over $270M Token Dispute
A blockchain startup sued several entities of a venture capital firm on Wednesday, claiming they are trying to turn a $100,000 investment in the blockchain company's early-stage digital asset venture into $270 million worth of tokens by exploiting a contract typo that mistakenly tied token rights to all their shares.
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October 08, 2025
AFL-CIO Opposes Draft Senate Crypto Bill
A major labor organization, the AFL-CIO, has come out against a Republican draft bill on crypto market structure, saying the draft lacks "meaningful safeguards."
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October 08, 2025
Trump Admin Cites Shutdown In Bid For CFPB Case Delay
Amid growing calls for the full D.C. Circuit to revisit a recent panel ruling that would allow mass layoffs at the Consumer Financial Protection Bureau, the Trump administration is asking for a pause in the case until after the government shutdown is over.
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October 07, 2025
Goldstein's $968K Border Cash Claim To Be Admitted At Trial
A Maryland federal jury will hear claims from prosecutors that SCOTUSblog publisher Tom Goldstein told Dulles International Airport border guards that the $968,000 in cash he brought into the country in 2018 had been gambling winnings, after a judge shot down his efforts to suppress his alleged statements Tuesday.
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October 07, 2025
4 Oral Argument Sessions Benefits Attys Should Watch In Oct.
The Second Circuit will hear from Teamsters looking to revive a proposed class action alleging mismanagement of a multiemployer pension plan, while Alcoa will ask the Seventh Circuit to overturn a ruling requiring the aluminum maker to cover union retirees' healthcare for life. Here, Law360 looks at four arguments that benefits attorneys should have on their radar this month.
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October 07, 2025
Apple Seeks To Toss IPhone, Watch Buyers' Antitrust Suits
Apple has asked a New Jersey federal court to toss multidistrict antitrust litigation brought by iPhone and Apple Watch buyers, arguing that while they "try in vain to invent" theories about how Apple charges monopoly prices the inflation-adjusted price of the latest iPhone is nearly the same as the first model.
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October 07, 2025
Feds Seek 6 Years For Ex-Frank Exec's 'Brazen' $175M Con
Prosecutors asked a New York federal judge Monday to sentence a former executive at financial aid startup Frank to six years in prison for helping its founder Charlie Javice trick JPMorgan Chase & Co. into buying the company for $175 million, saying he deserves no leniency for the "brazen" fraud.
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October 07, 2025
NYSE Parent Invests $2B In Polymarket Amid Market Scrutiny
The parent company of the New York Stock Exchange said Tuesday that it will infuse up to $2 billion into Polymarket, which has an $8 billion valuation, at a time when prediction markets in the United States are increasing in popularity but facing increased scrutiny.
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October 07, 2025
SEC's Atkins Wants To 'Future-Proof' Deregulatory Agenda
U.S. Securities and Exchange Commission Chairman Paul Atkins said Tuesday that he hopes that moving quickly to adopt new rules deregulating the public and private markets will "future-proof" his agenda against potential tampering by succeeding presidential administrations.
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October 07, 2025
NASCAR Wins Fight With LGBCoin Over Racing Deal Approval
A Miami jury returned a defense verdict late Monday in favor of NASCAR in a $76 million suit by the LetsGoBrandon.com Foundation accusing the league of destroying the value of its cryptocurrency LGBCoin after it revoked approval of sponsorship of a racing team.
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October 07, 2025
FDIC, OCC Rule Proposals Seek To Rein In Bank Supervision
Federal banking regulators on Tuesday unveiled a pair of proposed curbs on their supervision programs that would formally ban the use of reputation risk as an exam factor and constrain what examiners can call out for criticism as an "unsafe or unsound" practice.
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October 06, 2025
OCC To Ease Exams, Simplify Licensing For Smaller Banks
The Office of the Comptroller of the Currency moved Monday to ease its oversight of banks with under $30 billion in assets, rolling out policy changes that include cutting back on their exam requirements and potentially expanding their access to expedited licensing options.
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October 06, 2025
Baltimore Sues Fintech Over Digital Payday Lending Scheme
The city of Baltimore has sued MoneyLion in Maryland state court, accusing the fintech company of violating local consumer protection laws by disguising high-interest payday loans as "Instacash Advances" and trapping low-income residents in cycles of debt through excessive fees and "tips."
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October 06, 2025
Jurisdiction Miss Sinks Novel Crypto Suit Claim In Chancery
In a first-of-its-kind decision, Delaware's Court of Chancery on Monday upheld state court "In rem" physical jurisdiction over $3.7 million worth of cryptocurrency held by a Delaware limited liability company after it was allegedly pilfered from an online casino in the Dutch Caribbean island nation of Curacao.
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October 06, 2025
Utah Bank Is No 'Dummy' Lender, OppFi Says In Calif. Fight
Opportunity Financial is looking to close the book on California's banking regulator's claims that it illegally evaded the state's interest rate caps through a sham lending partnership with an out-of-state bank, arguing in a summary judgment bid that its Utah partner, FinWise Bank, is the lawful lender and therefore exempt from California's rate limits.
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October 06, 2025
Suit Aims To 'Claw Back' Kalshi's Ga. Predictions Proceeds
Kalshi Inc. and Robinhood are among a slew of defendants who have been sued in Georgia over allegations that the companies' so-called prediction markets are sidestepping the Peach State's ban on gambling, adding to a growing roster of litigation stemming from the companies' business practices.
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October 06, 2025
Coinbase Seeks OCC Charter To Expand Custody Business
Crypto exchange Coinbase is seeking a national trust company charter from the Office of the Comptroller of the Currency to expand its custody business and related services, joining a growing number of digital asset firms pursuing federal bank charters.
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October 06, 2025
Justices Won't Hear Coinbase's Calif. Arbitration Challenge
The U.S. Supreme Court on Monday declined to take up a case from Coinbase over whether federal arbitration laws preempt a California high court precedent that enabled a group of users to keep the crypto exchange in court over claims it misrepresented the security of its platform.
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October 06, 2025
Justices Will Not Review Question Of Credit Union's Liability
The U.S. Supreme Court on Monday declined to take up a petition to overturn a Fourth Circuit ruling that found banks cannot be held liable for fraudulent fund transfers made from their accounts without having "actual knowledge" that there were discrepancies between the intended beneficiary and the account receiving the deposit.
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October 06, 2025
Justices Deny Certiorari In Auditor's $1.5M Retaliation Suit
The U.S. Supreme Court on Monday declined to hear Axos Bank's petition challenging a $1.5 million award to a former auditor who claimed he was fired for whistleblowing, rejecting a matter that concerns how companies defend against such retaliation claims.
Expert Analysis
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How Dfinity Timeliness Ruling Can Aid Crypto Issuers
A California federal court's recent dismissal of a class action against Dfinity, holding that the claims were time-barred by the Securities Act's three-year statute of repose, provides a useful defense for cryptocurrency issuers, which often solicit investments years before minting and distributing the associated tokens, say attorneys at Paul Weiss.
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The CFTC Is Shaking Up Sports Betting's Legal Future
The sports betting industry faces a potential sea change amid recent state and federal actions across the regulatory landscape that have expanded access to sporting event contracts against the backdrop of waning Commodity Futures Trading Commission opposition, says Nick Covek at Foley & Lardner.
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Series
Law School's Missed Lessons: Rejecting Biz Dev Myths
Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.
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Move Beyond Surface-Level Edits To Master Legal Writing
Recent instances in which attorneys filed briefs containing artificial intelligence hallucinations offer a stark reminder that effective revision isn’t just about superficial details like grammar — it requires attorneys to critically engage with their writing and analyze their rhetorical choices, says Ivy Grey at WordRake.
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Best Practices For State Banks Eyeing Federal Conversions
Amid a notable uptick — fueled by ongoing regulatory upheaval — in state-chartered banks exploring conversion to national bank charters, banks contemplating the decision should weigh the benefits, like uniform supervision, and potential impediments, like costly exam fees, say attorneys at Skadden.
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9th Circ. Has Muddied Waters Of Article III Pleading Standard
District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.
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Series
Competing In Modern Pentathlon Makes Me A Better Lawyer
Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.
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Shifting DEI Expectations Put Banks In Legal Crosshairs
The Trump administration's rollbacks on DEI-friendly policies create something of a regulatory catch-22 for banks, wherein strict compliance would contradict established statutory and administrative mandates regarding access to credit for disadvantaged communities, say attorneys at Husch Blackwell.
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Atkins' Crypto Remarks Show SEC Is Headed For A 'New Day'
A look at U.S. Securities and Exchange Commission Chairman Paul Atkins' recent speeches provides significant clues as to where the SEC is going next and how its regulatory approach to crypto will differ from that of the previous administration, say attorneys at Eversheds Sutherland.
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DOJ Memo Lays Groundwork For Healthy Bank Sponsorships
The U.S. Department of Justice's recent digital asset policy shift offers potential clarity in the murky waters of sponsor bank relationships, presenting nontraditional financial companies with both a moment of opportunity and a test of maturity, say attorneys at Arnall Golden.
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Series
Law School's Missed Lessons: Teaching Yourself Legal Tech
New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.
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How IPR Estoppel Ruling May Clash With PTAB Landscape
Though the Federal Circuit's narrowing of inter partes review estoppel in Ingenico v. Ioengine might encourage more petitions, tougher standards for discretionary denial established by the U.S. Patent and Trademark Office could be a counterbalancing factor, say attorneys at Troutman Pepper.
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Texas Targets Del. Primacy With Trio Of New Corporate Laws
Delaware has long positioned itself as the leader in attracting business formation, but a flurry of new legislation in Texas aimed at attracting businesses to the Lone Star State is aggressively trying to change that, says Andrew Oringer at the Wagner Law Group.
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How AI May Reshape The Future Of Adjudication
As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.
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What Money Transmitters Need To Know About New Colo. Law
Colorado's new Money Transmission Modernization Act updates standards for the licensing, supervision and regulation of money transmitters while codifying an agent-to-payee exemption, and represents another step toward standardizing these rules across state governments, say Sarah Auchterlonie and Joel Herberman at Brownstein Hyatt.