Bank Group Cautions OCC On Fintech Trust Charter Bids

By Jon Hill

Another major banking trade group is pushing back on efforts by a string of digital asset and payment firms to obtain federal banking charters from the Office of the Comptroller of the Currency, warning that granting the charters would invite legal and systemic risks.

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10th Circ. Rules Fed Can Reject Master Account Access

By Katryna Perera

A divided Tenth Circuit panel ruled Friday that Federal Reserve banks have the discretion to reject master account access requests from eligible entities, rejecting crypto-focused Custodia Bank's claim that it is entitled to a master account in a decision that prompted a dissenting judge to say "the Fed has gone too far."

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JPMorgan Kept Biz With 'Child Sleaze' Epstein Despite Flags

By Dorothy Atkins

JPMorgan Chase reported Jeffrey Epstein's suspicious cash transactions suggesting sex-trafficking years before the financier faced felony charges, but the bank continued to do business with him even as banking executives joked internally about Epstein as a "known child sleaze," according to documents unsealed in New York federal court Friday.

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CFPB Union Sounds Alarm As Funding 'Approaches Zero'

By Jon Hill

The Consumer Financial Protection Bureau's employee union warned that the agency is on the verge of running out of money and called for its acting Director Russell Vought to immediately request additional funds from the Federal Reserve.

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Banking, Business Groups Call For Federal AI Regulations

By Sarah Jarvis

Business and banking industry groups are calling for federal legislation to preempt what they say is a patchwork of state and local regulations on artificial intelligence, throwing their support behind the Trump administration's policy blueprint for "winning the AI race."

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Brief

SEC Extends Fee Cap Compliance Dates After DC Circ. Ruling

By Katryna Perera

The U.S. Securities and Exchange Commission on Friday extended the compliance deadlines for new rules that will cap the fees that exchanges can charge investors and allow exchanges to quote stock prices in half-penny increments after the D.C. Circuit rejected calls to overturn the rules.

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Analysis

Wheeling & Appealing: The Latest Must-Know Appellate Action

By Jeff Overley

In this installment of Wheeling & Appealing, November's appellate calendar features a Trump lawsuit against Hillary Clinton, New York City housing disputes, drug pricing battles, immigrant rights cases, and challenges to so-called patent troll laws.

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Ed Dept. Pushing Millions Of Borrowers Into Default, Suit Says

By Kelcey Caulder

The secretary of the U.S. Department of Education and three major credit bureaus were hit with a proposed class action in Georgia federal court for allegedly forcing millions of student loan borrowers into delinquency and default due to operational failures in loan servicing after the COVID-19 deferment period ended earlier this year.

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MV Realty Will Pay $2.8M To End NJ Suit Lien Agreements

By P.J. D'Annunzio

Florida-based MV Realty has entered into a $2.8 million settlement with New Jersey to resolve a lawsuit claiming it duped cash-strapped homeowners into signing agreements with predatory terms that placed liens on their homes for a one-time cash payment, the state's attorney general's office said Friday.

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TXSE Boasts $250M Total Capital After Latest Funding Round

By Jade Martinez-Pogue

TXSE Group, a company preparing to launch a Texas-based stock exchange similar to the likes of the New York Stock Exchange, revealed Friday it has raised more than $250 million in total capital following its second financing round that welcomed new investor J.P. Morgan.

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Insurers Denied Bid To Stay Avon's Ch. 11 Plan For Appeal

By Emily Lever

A Delaware bankruptcy judge denied a motion Thursday from insurers at Lloyd's of London to stay Avon Inc.'s Chapter 11 plan while the insurers appeal, finding the insurers had not shown they would be irreparably harmed by the plan taking effect.

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What CFTC Push For Tokenized Collateral Means For Crypto

The Commodity Futures Trading Commission's recent request for comment on the use of tokenized products as collateral in derivatives markets signals that it is expanding the scope and form of eligible collateral, and could broaden the potential use cases for crypto-assets held in tokenized form, say attorneys at Dechert.

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Judges See An Immigration Court Gutted From Inside

By Marco Poggio

Eight former immigration judges who spoke to Law360 say the rough treatment of the immigration courts in President Donald Trump's second term poses an unprecedented threat to judicial independence and is eroding immigrants' due process rights.

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Alaska Joins Utah In Firing Motley Rice From Opioid Case

By Lauren Berg

Alaska joined Utah this month in terminating its contract with Motley Rice LLC, which the state hired nearly a decade ago to pursue litigation over the opioid crisis, saying the law firm didn't disclose it was simultaneously representing other clients in separate opioid litigation.

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Roundup

Up Next At High Court: Tariffs, Fugitives & Contractor Liability

By Katie Buehler

The U.S. Supreme Court will begin its November oral argument session Monday, during which the justices will consider President Donald Trump's authority to impose tariffs on foreign countries under an emergency statute, whether military contractors can be held liable for alleged breaches of contracts in war zones, and if there are time limits for litigants who want to vacate a void judgment. Here, Law360 breaks down the week's oral arguments.

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Texas Atty Sanctioned For Not Disclosing AI Use

By Lynn LaRowe

A Texas federal judge has sanctioned a Dallas-area attorney for failing to disclose that he used artificial intelligence to prepare a summary judgment response that included inaccurate information in a wrongful termination case.

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Ill. Judge Prefers 'Clean' Dismissal Against Ex-Girardi Attys

By Lauraann Wood

An Illinois federal judge told Edelson PC on Friday to either dismiss its conversion case against two former Girardi Keese attorneys in a "clean" and "unadulterated" stipulation or submit legal authority supporting its desire to condition the dismissal on him adopting side agreements the parties outlined in their filing.

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Troutman Owes $3.5M For Malpractice, Med Tech Co. Says

By George Woolston

A healthcare tech company urged a New Jersey state judge on Friday to have Troutman Pepper Locke LLP pay the more than $3.5 million in counsel fees and costs the company and its managing partner incurred successfully litigating legal malpractice claims against the firm, arguing the path to a trial win was lengthy and complex.

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New Rule Limits Loan Forgiveness For Public Service Workers

By Alison Knezevich

The Trump administration has finalized a rule to limit who can qualify for a federal student loan forgiveness program that has been a key incentive for attorneys to pursue public service and nonprofit careers.

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Students Defend Law School Application Fee Antitrust Suit

By James Boyle

Plaintiffs in a proposed class action accusing the Law School Admission Council of fixing application fees with its member schools claim in a new filing their complaint is strong enough to survive a motion to dismiss.

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Q&A

First Trans Judge In Mass. Advocates Courtroom Courtesy

By Parker Quinlan

Boston Municipal Court Judge Connor M. Barusch spent nearly two years navigating the complicated process to become a judge in Massachusetts. In this interview with Law360, they say their path to becoming the first judge in state history who identifies as nonbinary and transgender will help diversify the bench and better serve the community.

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IP-Focused Judges Say Less Is More In Patent Litigation

By Theresa Schliep

Attorneys litigating patent cases should exercise discretion when redacting documents, limit the length and volume of motions, and talk to judges the way they talk to juries about complicated intellectual property issues, a panel of IP-focused judges advised Thursday.

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Practising Law Institute Launches Legal Innovation Council

By Andrea Keckley

The Practising Law Institute announced Friday that it is launching its first-ever Innovation Council, which will offer guidance on the integration of emerging technological innovations into the legal industry.

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AccessLex, Southwestern Law Join Up To Study Admissions

By Matt Perez

Legal education nonprofit AccessLex Institute has announced that Southwestern Law School in Los Angeles will be the first school to go through its Admission Innovation Project, which supports and funds efforts by universities to implement and assess new approaches to selecting first-year law students.

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Monthly Merger Review Snapshot

By Bryan Koenig

The Justice Department battled with state attorneys general trying to peek behind its controversial settlement clearing Hewlett Packard Enterprise's Juniper purchase, United Kingdom officials deepened their probe into Getty's proposed acquisition of Shutterstock and Pfizer cried foul when Novo Nordisk tried to swoop in over its Metsera purchase.

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Hub Hires: Cooley, Hinckley Allen, Weil Gotshal

By Chris Villani

The month of October brings with it shorter days, crisp fall weather, and a handful of fresh legal homes for some of Boston's top talent. Cooley boosted its life sciences practice, Hinckley Allen strengthened its litigation team, and Weil snagged an appellate pro.

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UK Litigation Roundup: Here's What You Missed In London

By Max Austin

This past week in London has seen two regional law firms clash at the intellectual property court over the name Amicus Solicitors, Bill's Restaurant face a breach of contract suit by its former executive chair, and a Capita subsidiary sue the Metropolitan Police over a multimillion-pound procurement dispute. 

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GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

Among the stories in corporate legal news in the past week: Google and Apple fired back at an effort to depose their respective CEOs in an antitrust case, and a new survey found most corporate legal departments expect to seek much more help from outside counsel next year.

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Law360's Legal Lions Of The Week

By Kevin Penton

Kellogg Hansen Todd Figel & Frederick PLLC, Motley Rice LLC and Powell & Majestro PLLC lead this week's edition of Law360 Legal Lions, after the Fourth Circuit overturned a key ruling by a West Virginia federal judge in the first federal bellwether in multidistrict opioid litigation.

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In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.

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