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Fintech
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October 10, 2025
Therapist Backs Out Of Plea In Patient Fund Fraud Case
A Massachusetts psychotherapist is seeking to back out of a plea deal in a case alleging he sent nearly $1 million of other people's money, more than half of it belonging to a patient, to cryptocurrency scammers.
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October 10, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Paddington Bear's creators and Studio Canal sue the company behind Spitting Image, Blackpool Football Club's former owner Owen Oyston bring a fresh claim against the club, and Mishcon de Reya sue a Saudi investment group.
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October 09, 2025
Bessent Touts Trump's 'Community Bank Comeback' Agenda
U.S. Department of the Treasury Secretary Scott Bessent on Thursday pledged a wide-ranging regulatory push to spur a "community bank comeback," previewing plans that include easing capital rules, updating anti-money laundering standards and supporting expanded deposit insurance.
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October 09, 2025
Senate Crypto Bill Weakens State Fraud Protection, Experts Say
State regulators and legal experts are urging leaders of the Senate Banking Committee to overhaul their draft crypto market structure legislation on the grounds that the current text would weaken state power to police fraud and protect investors in crypto markets and beyond.
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October 09, 2025
Judge Scuttles CFTC Settlements In $21M Crypto Scam Case
A Florida federal judge has rejected a pair of proposed U.S. Commodity Futures Trading Commission settlements in a case alleging a $21 million crypto trading scheme, giving the short-staffed agency only a few days to explain why she shouldn't dismiss the allegations.
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October 09, 2025
Voyager Judge Won't Dismiss Contract Claims In Binance Suit
A New York bankruptcy judge said Thursday he expected to deny a request by Binance.US to dismiss Voyager Digital's breach of contract claims stemming from a collapsed asset purchase agreement between the two cryptocurrency ventures.
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October 09, 2025
Treasury Looks To Cut Suspicious Activity Reporting 'Noise'
The U.S. Department of the Treasury's enforcement arm Thursday released clarifications about requirements related to suspicious activity reports, specifying among other things that financial institutions do not have to document their decisions not to file the reports.
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October 09, 2025
BeFrugal Marketing Firm Says Exec Steered Clients To Rival
Affiliate marketing firm BeFrugal said in a lawsuit this week in Massachusetts state court that a senior vice president secretly co-founded a competing company, then steered major clients, including DirecTV and Samsung, to the new business.
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October 09, 2025
Investment Adviser Firm Sues Over Fraud Protection Patent
Investment adviser firm FinTegrity LLC has sued Deutsche Bank and a Czech cybersecurity company in Texas federal court with claims they are infringing a patent that covers fraud protection technology.
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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.
Expert Analysis
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How Trump's Trade Policies Are Shaping Foreign Investment
Five months into the Trump administration, investors are beginning to see the concrete effects of the president’s America First Investment Policy as it presents new opportunities for clearing transactions more quickly, while sustaining risk aversion related to Chinese trade and potentially creating different political risks, say attorneys at Covington.
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How Trump Admin Treasury Policies Are Reaching Banks
The Treasury Department has emerged as an important facilitator of the Trump administration's financial policies affecting banks, which are now facing deregulation domestically and the use of international economic authorities in cross-border trade and investment, say attorneys at Davis Polk.
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Series
My Opera And Baseball Careers Make Me A Better Lawyer
Though participating in opera and the world of professional baseball often pulls me away from the office, my avocations improve my legal career by helping me perform under scrutiny, prioritize team success, and maintain joy and perspective at work, says Adam Unger at Herrick Feinstein.
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A Look At DOJ's Dropped Case Against Early Crypto Operator
The prosecution of an early crypto exchange operator over alleged unlicensed money transmission was recently dropped in Indiana federal court, showcasing that the U.S. Justice Department may be limiting the types of enforcement cases it will bring against digital asset firms, say attorneys at Greenberg Traurig.
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Policy Shifts Bring New Anti-Money Laundering Challenges
In the second half of 2025, the U.S. anti-money laundering regulatory landscape is poised for decisive shifts in enforcement priorities, compliance expectations and legislative developments — so investment advisers and other financial institutions should take steps to prepare for potential new obligations and areas of risk, say attorneys at Linklaters.
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8 Ways Lawyers Can Protect The Rule Of Law In Their Work
Whether they are concerned with judicial independence, regulatory predictability or client confidence, lawyers can take specific meaningful actions on their own when traditional structures are too slow or too compromised to respond, says Angeli Patel at the Berkeley Center of Law and Business.
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Assessing New Changes To Texas Officer Exculpation Law
Consistent with Texas' recent modernization of its corporate law, the recently passed S.B. 2411 allows officer exculpation, streamlines certificate of formation amendments, authorizes representatives to act on shareholders' behalf in mergers and makes other changes aimed toward companies seeking a more codified, statutory model of corporate governance, say attorneys at Bracewell.
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Series
Law School's Missed Lessons: Communicating With Clients
Law school curricula often overlook client communication procedures, and those who actively teach this crucial facet of the practice can create exceptional client satisfaction and success, says Patrick Hanson at Wiggam Law.
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Trending At The PTAB: Shifts In Parallel Proceedings Strategy
Dynamics are changing between the Patent Trial and Appeal Board and federal courts, with two recent discretionary denials and one Federal Circuit decision offering takeaways for both patent owners and challengers navigating parallel proceedings, say attorneys at Finnegan.
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How State AG Consumer Finance Enforcement Is Expanding
As the Consumer Financial Protection Bureau becomes less active, state attorneys general are increasingly shaping the enforcement landscape for consumer financial services — and several areas of focus have recently emerged, say attorneys at Morgan Lewis.
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Series
Adapting To Private Practice: From US Rep. To Boutique Firm
My transition from serving as a member of Congress to becoming a partner at a boutique firm has been remarkably smooth, in part because I never stopped exercising my legal muscles, maintained relationships with my former colleagues and set the right tone at the outset, says Mondaire Jones at Friedman Kaplan.
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2025's First Half Brings Regulatory Detours For Fintechs
The first half of the year has resulted in a bifurcated regulatory environment for fintechs, featuring narrowed enforcement in some areas, heightened scrutiny in others and a policy window that, with proper compliance, offers meaningful opportunities for innovation, say attorneys at Sheppard Mullin.
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Opinion
Senate's 41% Litigation Finance Tax Would Hurt Legal System
The Senate’s latest version of the Big Beautiful Bill Act would impose a 41% tax on the litigation finance industry, but the tax is totally disconnected from the concerns it purports to address, and it would set the country back to a time when small plaintiffs had little recourse against big defendants, says Anthony Sebok at Cardozo School of Law.
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Comparing Stablecoin Bills From UK, EU, US And Hong Kong
For multinational stablecoin issuers, navigating the differences and similarities among regimes in the U.K., EU, Hong Kong and U.S., which are currently unfolding in several key ways, is critical to achieving scalable, compliant operations, say attorneys at Morgan Lewis.
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What Baseball Can Teach Criminal Attys About Rule Of Lenity
Judges tend to assess ambiguous criminal laws not unlike how baseball umpires approach checked swings, so defense attorneys should consider how to best frame their arguments to maximize courts' willingness to invoke the rule of lenity, wherein a tie goes to the defendant, says Jonathan Porter at Husch Blackwell.