Fintech

  • March 26, 2025

    CFPB Moves To Rip Up Settlement Of 'Radical' Redlining Case

    The Consumer Financial Protection Bureau asked Wednesday for an Illinois federal judge to throw out its recent settlement of a redlining lawsuit that was filed during the first Trump administration, a case the agency's new chief is now denouncing as unjust and wrong.

  • March 26, 2025

    Feds Led Jury Astray About $175M JPMorgan Deal, Javice Says

    A lawyer for Frank founder Charlie Javice on Wednesday told a Manhattan federal jury that prosecutors have spent weeks misleading them about evidence purporting to show that she conned JPMorgan Chase & Co. into buying the now-defunct educational startup for $175 million, based on false information.

  • March 26, 2025

    Sotomayor Urges Caution On Nondelegation Doctrine Revamp

    U.S. Supreme Court Justice Sonia Sotomayor cautioned her colleagues during oral arguments Wednesday against using a challenge to the Federal Communications Commission's administration of a broadband subsidy program as a way to resurrect the long-dormant nondelegation doctrine. Several conservative justices, however, seemed willing to disregard that admonition.

  • March 26, 2025

    Republicans Stump For CFPB Overhaul As Democrats Balk

    Republicans on the House Financial Services Committee sought Wednesday to boost legislation aimed at reining in the Consumer Financial Protection Bureau, proposals that Democrats slammed as out of touch when the agency is already facing evisceration.

  • March 26, 2025

    Supreme Court Skeptical Of Nixing FCC Subsidy Fund

    Conservative justices took aim Wednesday at rising costs in the country's multibillion-dollar phone and broadband subsidy system, questioning whether lawmakers put meaningful limits on the program's growth, but some argued the fund works just like others created by Congress that rely on revenues from industry fees.

  • March 26, 2025

    Crypto Co. CEO Must Face Suit Alleging Refund Fraud

    The CEO of Power Block Coin LLC, which does business as SmartFi, must face a suit accusing him and the company of refusing to fulfill their "buyback guarantee" of its SmartFi tokens, with a Pennsylvania federal court ruling that the plaintiffs have sufficiently alleged that the CEO promised SmartFi would refund investors their money.

  • March 26, 2025

    Atkins' Industry Ties To Be Under Scope At SEC Nom Hearing

    President Donald Trump's pick to lead the U.S. Securities and Exchange Commission is expected to receive a friendly reception from Republican senators at his confirmation hearing on Thursday, but one leading Democrat has promised to press Paul Atkins on his ties to industry and the conflicts that could create.

  • March 26, 2025

    Crypto Firm Dfinity Gets Investor Suit Tossed Over Timeliness

    A California federal judge has tossed a shareholder suit against cryptocurrency firm Dfinity, siding with the firm's argument that claims it sold unregistered securities were too dated to proceed.

  • March 26, 2025

    Coalition Says Trump Admin Flouted Federal Rehiring Order

    The Trump administration responded to an injunction compelling it to rehire over 15,000 fired probationary employees by placing them on leave, not bringing them back to work, a coalition of advocates for the workers told a California federal judge Wednesday, saying the administration hasn't complied with the injunction.

  • March 26, 2025

    Crypto Expert Seeks OK Of $28M Bitcoin Arbitration Award

    A Malta-based cryptocurrency expert and his two companies have asked a Manhattan federal judge to enforce a more than $28 million arbitral award against a bitcoin mining server supplier they claim sent them faulty machinery.

  • March 26, 2025

    4th Circ. Says Credit Union Not Liable For Fraudulent Transfer

    A Fourth Circuit panel on Wednesday reversed a lower court ruling that held a credit union liable for a scammer's use of its services to swindle a metal fabricator out of $560,000, ruling that banks aren't on the hook for misdescribed fund transfers without "actual knowledge" of the discrepancy.

  • March 26, 2025

    CFPB Pulls 'Inappropriate' Brief Supporting NY's Citi Suit

    The Consumer Financial Protection Bureau has moved to withdraw a Biden-era legal brief it filed backing the New York attorney general in her ongoing lawsuit over Citibank NA's handling of online wire fraud, criticizing the brief as "inappropriate" regulatory freelancing.

  • March 26, 2025

    Fintech Biz Hits $3.5B Valuation After $300M Funding Round

    San Francisco-based fintech company Mercury, advised by Freshfields LLP, on Wednesday announced that it reached a $3.5 billion valuation after completing a $300 million Series C investment round led by venture capital giant Sequoia Capital.

  • March 26, 2025

    Toronto Exchange Says Court In Texas Can't Hear TM Suit

    The Toronto Stock Exchange says a Texas federal court lacks jurisdiction over the Texas Stock Exchange's trademark lawsuit, telling the court it only submitted a cease-and-desist letter to stop the nascent stock exchange from using allegedly similar marks.

  • March 26, 2025

    Goldstein's Devices Must Be Monitored, Judge Affirms

    A Maryland federal judge on Tuesday rejected U.S. Supreme Court lawyer and SCOTUSblog publisher Tom Goldstein's request to dismiss a bail condition that requires his electronic devices to be monitored out of concerns that he's been hiding millions in cryptocurrency from the government and could flee while facing tax evasion charges.

  • March 25, 2025

    SoLo Funds Interest Rate Suit Sent To Arbitration

    Financial app SoLo Funds Inc. can arbitrate allegations it deceived users by describing its advances as no-cost, a Pennsylvania federal judge has ruled after the Third Circuit reversed her earlier decision to deny an arbitration bid.

  • March 25, 2025

    Fintech DLocal Beats Investors' Suit Over IPO

    A New York state court judge has dismissed claims against fintech firm dLocal and its underwriters in a proposed class action alleging the company misstated a key financial metric and misrepresented the state of its financial controls in advance of its June 2021 initial public stock offering that saw the company valued at nearly $9.5 billion.

  • March 25, 2025

    FINRA Fines Firm, CCO For Pandemic-Era Oversight Lapses

    The Financial Industry Regulatory Authority has fined broker-dealer United First Partners LLC and fined and suspended its chief compliance officer to settle claims they failed to implement a sufficient system to monitor the firm's representatives' outside business activities, and completely failed to do so during the pandemic.

  • March 25, 2025

    MoneyLion Gets CFPB Military Lending Suit Cut, But Not Axed

    A New York federal judge has trimmed the Consumer Financial Protection Bureau's suit against MoneyLion Technologies, tossing claims that alleged improper use of an arbitration agreement and disclosure violations while allowing the remainder to proceed.

  • March 25, 2025

    GOP-Led House Committee Mulls Bills To Ease Capital Raising

    The U.S. House of Representatives Financial Services Committee on Tuesday debated bills that would ease rules governing private and public securities offerings, marking Congress' latest push to deregulate capital markets under President Donald Trump's second term.

  • March 25, 2025

    FDIC Will Seek To 'Eradicate' Its Use Of Reputation Risk

    The Federal Deposit Insurance Corp. plans to "eradicate" the concept of reputation risk from its oversight of banks and is working to take its approach to digital assets in "a new direction," the agency's acting chief has told Congress.

  • March 25, 2025

    Insurance Mogul Seeks To Overturn $122M Contempt Order

    A convicted billionaire embroiled in lawsuits over the demise of his insurance empire wants out of a nine-figure contempt order, telling the North Carolina Court of Appeals that neither he nor his company has the ability to pay more than $122 million to purge the contempt.

  • March 25, 2025

    Ripple Labs To Pay SEC $50M To End Case, Legal Chief Says

    Ripple Labs legal chief Stuart Alderoty said Tuesday the cryptocurrency firm will pay the U.S. Securities and Exchange Commission a $50 million civil penalty to resolve the agency's landmark enforcement action, or a fraction of the $125 million fine that a federal court originally imposed upon it over past unregistered institutional token sales.

  • March 24, 2025

    Wash. Bill Pay Biz Can't Exit FTC Consumer Protection Suit

    A Washington federal judge has declined to throw out a Federal Trade Commission consumer protection suit against a Seattle-based online bill pay platform, rejecting the company's stance that disclaimers on its website absolve it claims of deceptive business practices.

  • March 24, 2025

    Bank Groups Take Aim At Fed's Stress-Test Methodology

    Top bank trade groups are pressing their Ohio federal court challenge to the Federal Reserve Board's stress tests of big banks, asking for a ruling that would force major changes to the way the annual assessments of firm resilience are designed and executed.

Expert Analysis

  • Strategies For Home Equity Investment Providers In 2025

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    The home equity investment product market is thriving even amid consumer concerns, regulatory scrutiny and conflicting court decisions, setting the stage for a promising but challenging environment for providers in 2025, say attorneys at Sheppard Mullin.

  • Opinion

    6 Changes I Would Make If I Ran A Law School

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    Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.

  • Implications Of NY Climate Case For Generating Facilities

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    Regardless of how Greenidge Generation LLC v. New York Department of Environmental Conservation develops on remand, this decision has immediate repercussions for generating facilities seeking permit applications and renewals in New York, likely involving Climate Leadership and Community Protection Act considerations, say attorneys at Hodgson Russ.

  • How CFPB Rule Would Affect Data Brokers And Beyond

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    The Consumer Financial Protection Bureau recently proposed a rule that would not only expand data broker oversight by classifying many as consumer reporting agencies, but would also impose new limitations on companies seeking to obtain information from them, potentially requiring such entities to alter their business models, say attorneys at Orrick.

  • Firms Still Have The Edge In Lateral Hiring, But Buyer Beware

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    Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.

  • 5th Circ. Crypto Ruling Shows Limits On OFAC Authority

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    The Fifth Circuit's recent decision that immutable smart contracts on the Tornado Cash crypto-transaction software protocol are not "property" subject to Office of Foreign Assets Control jurisdiction may signal that courts can construe OFAC's authority more restrictively after Loper Bright, say attorneys at Morgan Lewis.

  • Preparing For The New Restrictions On Investment Into China

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    In light of a new regulatory program governing U.S. investments in China-related technology companies of national security concern, investors should keep several considerations in mind, including the rules' effect on existing and new investments, compliance hurdles, and penalties for noncompliance ahead of the rules' January implementation, say attorneys at Gunderson Dettmer.

  • Think Like A Lawyer: 1 Type Of Case Complexity Stands Out

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    In contrast to some cases that appear complex due to voluminous evidence or esoteric subject matter, a different kind of complexity involves tangled legal and factual questions, each with a range of possible outcomes, which require a “sliding scale” approach instead of syllogistic reasoning, says Luke Andrews at Poole Huffman.

  • FTX Exec's Sentencing Shows Pros And Cons Of Cooperation

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    The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.

  • SEC Custody Rule Creates Crypto Compliance Conundrum

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    While the U.S. Securities and Exchange Commission's application of the custody rule may be a good faith attempt to enhance consumer protections for client assets, it doesn't appreciate the unique characteristics of crypto-assets, forcing advisers to choose between pursuing their clients' objectives and complying with the rule, say attorneys at Willkie.

  • Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity

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    Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.

  • Series

    Gardening Makes Me A Better Lawyer

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    Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.

  • Federal Embrace Of Crypto Regs Won't Lower State Hurdles

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    Even if the incoming presidential administration and next Congress focus on creating clearer federal regulatory frameworks for the cryptocurrency sector, companies bringing digital asset products and services to the market will still face significant state-level barriers, say attorneys at Mayer Brown.

  • SEC Prioritized Enforcement Sweeps As Cases Slowed In '24

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    Following three consecutive years of increasing activity, fiscal year 2024 marked the lowest number of cases the U.S. Securities and Exchange Commission has brought since Gary Gensler assumed office in April 2021, buttressed by some familiar enforcement sweeps, say attorneys at Covington.

  • Litigation Inspiration: Reframing Document Review

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    For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.

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