CFPB's Return-To-Office Plan Could Spur More Exits

By Jon Hill

The Consumer Financial Protection Bureau is moving forward with a return-to-office plan that will involve shifting to new headquarters, ending most telework and requiring field employees to relocate to the Washington, D.C., area starting this summer, Law360 has learned.

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7 Firms Guide $1.8B Butterfield, CIBC Caribbean Bank Deal

By Al Barbarino

The Bank of N.T. Butterfield & Son Ltd. said Thursday it has agreed to acquire CIBC's 91.7% stake in CIBC Caribbean Bank Ltd. for $1.794 billion, creating a regional banking platform with about $29 billion in assets across international financial centers and Caribbean markets.

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HSBC Defeats Most Claims In First Citizens' Poaching Suit

By Elliot Weld

A California federal judge has dismissed the bulk of First Citizens Bank & Trust Co.'s suit against HSBC alleging the latter induced a mass resignation and misappropriated trade secrets, saying the court still didn't have any jurisdiction over some defendants and that an amended complaint had not cured issues with a previously dismissed complaint.

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Ex-TD Bank Worker Admits Role In $3M Customer Fraud Scam

By Dorothy Atkins

A former TD Bank NA financial service representative entered a plea deal in New Jersey federal court Wednesday, admitting to defrauding bank customers and bribing an employee at another financial institution to falsify bank records to facilitate a $3.4 million fraud scheme.

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Bilt Faces Dem Grilling Over Bank Partner Transition 'Turmoil'

By Sarah Jarvis

U.S. Sen. Elizabeth Warren, D-Mass., said Thursday that she wants answers from Bilt Rewards on reports that customers of the rent payment reward business have experienced transaction and payment issues stemming from the company's transition between bank partners.

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SEC OKs Paxos As 1st 'Blockchain-Native' Clearing Agency

By Aislinn Keely

Blockchain infrastructure firm Paxos said Thursday that the U.S. Securities and Exchange Commission has signed off on its clearing agency registration for blockchain-based settlement in what Paxos said is a first-of-its-kind approval.

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GreenSky Pays $10M To Settle Fraudulent Loan Claims

By Spencer Brewer

The Texas attorney general on Thursday announced that financial technology company GreenSky Holdings LLC has settled claims brought by multiple states accusing it of issuing fraudulent loans, paying $10 million in consumer restitution, civil penalties and other fees to the states.

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Detroit Ex-Mayor Can't Prevent Seizure Of Bank Account

By Susan Smiley

Former Detroit Mayor Kwame Kilpatrick will have 100% of the funds in a bank account tied to him garnished by the U.S. government for distribution in accordance with his criminal judgment, a Michigan federal judge ordered Thursday.

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Financial Adviser Gets 2 Years For $3.7M Investment Fraud

By Gina Kim

A Pennsylvania financial adviser was sentenced to more than two years in prison in federal court Thursday after copping to wire fraud stemming from a scheme where he transferred over $3.7 million from the bank account of a fund he managed to another client's account, to recoup investment losses.

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Ex-VP Accuses Wells Fargo Of Race, Disability Bias

By Hayley Fowler

A former executive hired to help oversee Wells Fargo's compliance with a federal consent order over an unauthorized account scandal has accused the bank of race and disability discrimination, saying he was retaliated against and ultimately fired after lodging internal complaints of disparate treatment of Black employees.

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Visa's Agentic Payment Rules Expose Compliance Tensions

Visa's recently released framework clarifying how payments driven by artificial intelligence can occur without consumer-merchant interaction exposes compliance risks under disclosure and fee transparency laws that may require merchants and payment providers to rethink consumer protection as agentic commerce expands, say attorneys at Stinson.

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Cannabis Policy Shift May Reshape Banking, Insolvency Risks

The Trump administration's cannabis rescheduling initiative aims to correct classification that had rendered federal banking, tax administration and insolvency law incoherent, and will begin to restore some alignment between federal law and the economic reality of the marijuana industry, says Richard Ormond at Buchalter.

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Finding Borrower Risk In The Private Credit Covenant Mix

Amid rising caution over private credit defaults, investors and their counsel can gain key insights about borrower risk from the particular combination of financial metrics included in a loan's covenants, not just the number of covenants, say Christopher Armstrong at Stanford University, and Carlo Gallimberti and David Tsui at Analysis Group.

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Series

Studying Foreign Languages Makes Me A Better Lawyer

Studying Italian and Japanese has shown me that learning a new language can benefit a legal career in several ways, including by demonstrating the importance of approaching problems from a fresh perspective and the value of practicing patience with colleagues and clients, says Anna King at Genworth Financial.

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Florida High Court Adopts AI Policy For Lawyers

By Madison Arnold

The Florida Supreme Court on Thursday amended the state's rules to require those filing court documents to check any artificial intelligence-generated content for accuracy, and allow for sanctions if the content contains errors.

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Goldstein Says Bad Jury Instructions Warrant New Trial

By Jared Foretek

SCOTUSblog founder Tom Goldstein said that the prosecutors who convicted him on 12 tax and mortgage fraud charges in February are now contradicting arguments they made at the end of his trial in their attempt to deny him a bench acquittal or new trial.

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King & Spalding Blocked From Exiting $300M Fraud Lawsuit

By Brian Steele

King & Spalding LLP and Lennon Murphy & Phillips LLC can't withdraw from representing clients in consolidated litigation over an alleged $300 million stock swindle, a Connecticut state court judge has ruled, saying the firms' motions ahead of a June trial lack good cause.

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Fla. Court Refers Atty To Bar Over Bogus Case Citations

By Madison Arnold

A Florida state appeals court has referred an appellant's attorney to the state's bar for disciplinary proceedings after filing a petition that appears to be generated by artificial intelligence and "raises frivolous arguments, misstates the law, and cites non-existent case law."

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Parents Demand 'Bad Faith' Sanctions In Camp Mystic Case

By Lynn LaRowe

Camp Mystic in Texas' Hill Country should be sanctioned over "bad faith" conduct in litigation over flooding deaths last summer, including purported misrepresentations to courts and regulators and an alleged remark by one of its attorneys to a plaintiffs' lawyer that he would "burn in hell," a state court has been told.

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Trump Considers Tech Entrepreneur For DOJ Grants Post

By Courtney Bublé

President Donald Trump appears poised to nominate a real estate attorney turned tech entrepreneur for a top U.S. Department of Justice post that oversees grants and criminal justice programs.

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Dem Sens. Ask DOJ To Preserve Trump-IRS Settlement Docs

By Jack McLoone

Two Democratic Senate leaders asked the U.S. Department of Justice to preserve any records related to the settlement of President Donald Trump's suit against the IRS in a letter published Thursday, signaling that further investigations may be coming.

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Roundup

Injury Law Roundup: Freight Brokers, Uber Lose Key Cases

By Y. Peter Kang

The U.S. Supreme Court's green light of negligent hiring claims against freight brokers in highway crash cases and an adverse verdict against Uber in the sexual assault multidistrict litigation lead Law360's Injury Law Roundup.

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Ex-Fla. Chief Justice Fred Lewis Dies At 78

By Carolina Bolado

Former Florida Chief Justice R. Fred Lewis, who spent two decades on the bench of the Florida Supreme Court, has died at 78, the court announced Thursday.

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Titan Of The Plaintiffs Bar: Gupta Wessler's Deepak Gupta

By Daniel Moritz-Rabson

In the decade and a half since starting his own firm, Deepak Gupta has argued seven cases before the U.S. Supreme Court, has won matters in state high courts from coast to coast, and has become a mainstay in federal appellate courts while building his plaintiff-side litigation boutique into a sought-after juggernaut.

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