A former top Federal Reserve official told Democratic lawmakers on Wednesday that if President Donald Trump succeeds in quickly ousting Fed Gov. Lisa Cook, it could unlock an obscure mechanism for his allies at the Fed to sway future interest-rate decisions.
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THURSDAY, SEPTEMBER 18, 2025 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

Trump Could Swing Fed With This 1 Weird Trick: Ex-Fed Gov.

By Jon Hill

A former top Federal Reserve official told Democratic lawmakers on Wednesday that if President Donald Trump succeeds in quickly ousting Fed Gov. Lisa Cook, it could unlock an obscure mechanism for his allies at the Fed to sway future interest-rate decisions.

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8th Circ. Backs Dismissal Of FDIC Fee Guidance Challenge

By Jon Hill

The Eighth Circuit on Wednesday rejected a banking industry challenge to Biden-era Federal Deposit Insurance Corp. guidance that cautioned banks about charging recurring fees on declined transactions, ruling the matter not ripe for court review.

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Winston & Strawn Blamed For 'Anti-Woke' Fintech $1.7B Crash

By Lauren Berg

The trustee of bankrupt "anti-woke" financial technology startup GloriFi on Wednesday launched malpractice litigation against Winston & Strawn LLP in Texas bankruptcy court, accusing the firm and one of its managing partners of putting the interests of the company's founder first and costing the business $1.7 billion in valuation.

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Billionaire Vik Eyes $11.5M Fee After Beating Deutsche Bank

By Brian Steele

A lawyer for billionaire Alexander Vik told a Connecticut appeals panel Wednesday that a judge should have followed Turks and Caicos Islands law to award more than $11.5 million in attorney fees when he beat Deutsche Bank in a long-running lawsuit that sought to collect on a $243 million judgment over unpaid margin calls.

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Litigation Spending To Keep Growing As Biz Risks Run High

By Jack Karp

Companies are likely to increase their spending on litigation next year, some by over 10%, as legal disputes become more complex, more contentious and more high-stakes, according to a new report out Thursday.

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POLICY & REGULATION

EXIM Bank Wants Suit Over $20B Mozambique LNG Project Axed

By Juan-Carlos Rodriguez

The Export-Import Bank of the United States is asking a D.C. federal judge to toss green groups' effort to block $4.7 billion in financing for a liquefied natural gas project in Mozambique led by TotalEnergies SE.

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ENFORCEMENT & COMPLIANCE

Brief

NY Regulator Pushes Blockchain Analytics For Compliance

By Aislinn Keely

New York's Department of Financial Services on Wednesday emphasized that it expects banks under its purview to incorporate blockchain analytics tools as part of their compliance programs if they're engaging in crypto activities.

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LITIGATION

Credit Investment Firm Sues UBS Over Naked Juice Loan Deal

By Emilie Ruscoe

A Connecticut branch of UBS faces a credit-investment firm's claims that UBS breached the terms of a loan participation agreement funding bottled juice company Naked Juice LLC after a restructuring of the agreement resulted in less favorable terms for the limited partnership.

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NC Loan Servicer Can't Escape Default Warning Letter Suit

By Sydney Price

Housing loan servicer Selene Finance LP must face most of a putative class action accusing it of sending false and deceptive notices regarding loan defaults, with a North Carolina court finding that the plaintiffs have shown various elements of deception.

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Atty Gets $4.3M Judgment Against Crypto Investment Cos.

By Matthew Santoni

A Pennsylvania state court has ordered four cryptocurrency companies to release more than $4.3 million in funds to a Pittsburgh attorney who claims the companies unjustly froze his accounts when he tried to make withdrawals.

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INTELLECTUAL PROPERTY

PTAB Told Variations From Prior Rulings Require Explanation

By Ryan Davis

The U.S. Patent and Trademark Office has told Patent Trial and Appeal Board judges that they must now explain any decisions that have a different outcome from an earlier ruling on the same patent or similar patent claims, either by the patent office or in litigation.

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PEOPLE

Womble Bond Hires Longtime Clifford Chance Leader In DC

By Jack Rodgers

Womble Bond Dickinson LLP has hired a career Clifford Chance LLP lawyer in Washington who served in a number of leadership roles with the firm in his more than 35 years there, including most recently as the global co-head of its risk team and leader of its U.S. regulatory investigations and financial crime group.

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EXPERT ANALYSIS

Genius Act Poses Strategic Hurdles For Community Banks

​​​​​​​The pace of change in digital asset policy, including the recent arrival of the Genius Act, suggests that strategic planning should be a near-term priority for community banks, with careful attention to customer relationships, regulatory developments and the local communities they serve, say attorneys at Jones Walker.

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Series

Adapting To Private Practice: From Va. AUSA To Mid-Law

Returning to the firm where I began my career after seven years as an assistant U.S. attorney in Virginia has been complex, nuanced and rewarding, and I’ve learned that the pursuit of justice remains the constant, even as the mindset and client change, says Kristin Johnson at Woods Rogers.

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LEGAL INDUSTRY

Ex-Calif. Judge Gets 35 Years For Shooting Wife To Death

By Gina Kim

Former California state court judge Jeffrey M. Ferguson lost his bid for a new trial Wednesday and was sentenced to 35 years to life in prison for shooting his wife to death at home in a drunken rage, with the presiding judge expressing sympathy for his "extraordinary" son who tried to save his mother's life.

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Feds Want 3 Years For Girardi Son-In-Law's Chicago Contempt

By Lauraann Wood

Tom Girardi's son-in-law should receive a three-year prison sentence for his admitted role in helping the once-celebrated plaintiffs' lawyer steal millions from Lion Air crash victims, federal prosecutors in Chicago argued Wednesday.

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7th Circ. Pick Shrugs Off Conservative Group's Opposition

By Courtney Bublé

During her confirmation hearing on Wednesday, Rebecca Taibleson, a federal prosecutor in Wisconsin tapped for the Seventh Circuit, fended off opposition to her nomination from conservative groups, antipathy that the top Democrat on the Senate Judiciary Committee called a "new low" for the committee.

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House Votes To End DC Judicial Nominations Commission

By Courtney Bublé

The U.S. House of Representatives voted 218-211 along party lines on Wednesday to eliminate the commission that vets and picks potential judicial nominees for Washington, D.C.'s local courts.

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Retired Judges Speak Out On 'Threats' To Constitution

By Courtney Bublé

More than 40 retired federal judges appointed by presidents of both parties released an open letter Wednesday, the anniversary of the signing of the Constitution, saying they sought to underscore the importance of the rule of law at a time when the nation's ideals "are under historic strain."

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Del. Judge's US Atty Application Plan Draws Blanche's Ire

By Lauren Berg

Delaware's chief district judge, a Trump appointee, is seeking applications for the state's U.S. attorney position to prepare for an upcoming vacancy in the interim position, a move that drew the ire of Deputy U.S. Attorney General Todd Blanche on Wednesday.

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Giuliani Must Pay Attys $1.4M After Missing Bills Claim Fails

By Adrian Cruz

A New York state judge has awarded nearly $1.4 million to Davidoff Hutcher & Citron LLP in its lawsuit accusing former New York City Mayor Rudy Giuliani of racking up unpaid legal bills for the firm's work in various criminal, civil and administrative matters.

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Criminal Restitution Fails Defendants, Victims, Report Says

By Brandon Lowrey

Federal criminal restitution often fails to benefit victims of crime and throws defendants into a "Sisyphean struggle" with debt, with $100 billion in outstanding restitution deemed uncollectable, according to a report released this week by the National Association of Criminal Defense Lawyers.

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SEC Policy Shift Could Foreclose Some Investor Class Actions

By Jessica Corso

The U.S. Securities and Exchange Commission issued a policy statement Wednesday that allows the use of mandatory arbitration by new publicly traded companies as its chief seeks to "make IPOs great again," but Democrats warned the move could shut the door to shareholder class actions.

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Ex-Law Student's Bias Suit In Wrong Forum, 4th Circ. Told

By Patrick Hoff

A Black former student at Washington University School of Law shouldn't be able to revive claims that she was suspended from campus and lost her scholarship after complaining about a professor's race bias because she filed the suit in the wrong state, the law school told the Fourth Circuit.

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COMPANIES IN TODAY'S NEWS

Academy Sports & Outdoors Inc.

American Bankers Association

American Family Association

BTI Consulting Group Inc.

CME Group Inc.

Deutsche Bank AG

Families Against Mandatory Minimums

Georgia State University

LinkedIn Corp.

Meta Platforms Inc.

National Association of Criminal Defense Lawyers

National Telephone Cooperative Association

Reddit Inc.

Selene Finance LP

The District of Columbia Bar

The PNC Financial Services Group Inc.

TotalEnergies SE

Twitter Inc.

UBS Group AG

United Services Automobile Association

Wells Fargo & Co.

LAW FIRMS IN TODAY'S NEWS

Bradley Arant

Cahill Gordon

Chapman & Cutler

Cheronis & Parente

Clifford Chance

Davidoff Hutcher

Day Pitney

Edelson PC

Foley & Lardner

Fredrikson & Byron

Gibson Dunn

Girardi & Keese

Jones Walker

Kirkland & Ellis

Lewis Rice

Milberg Coleman

Pullman & Comley

Quinn Emanuel

Saul Ewing

Skadden Arps

Troutman

Winston & Strawn

Womble Bond

Woods Rogers

GOVERNMENT AGENCIES IN TODAY'S NEWS

Commodity Futures Trading Commission

Delaware Court of Chancery

Executive Office of the President

Export-Import Bank of the United States

Federal Deposit Insurance Corp.

Federal Election Commission

Federal Reserve Bank of Kansas City

Federal Reserve System

International Trade Commission

New York Department of Financial Services

New York Supreme Court, New York County

Office of the Comptroller of the Currency

Patent Trial and Appeal Board

U.S. Attorney's Office for the Eastern District of North Carolina

U.S. Attorney's Office for the Northern District of Illinois

U.S. Attorney's Office for the Western District of Virginia

U.S. Court of Appeals for the Eighth Circuit

U.S. Court of Appeals for the Fourth Circuit

U.S. Department of Justice

U.S. Department of the Treasury

U.S. District Court for the District of Columbia

U.S. District Court for the District of Delaware

U.S. District Court for the Middle District of Pennsylvania

U.S. District Court for the Northern District of Illinois

U.S. District Court for the Northern District of Texas

U.S. District Court for the Southern District of New York

U.S. District Court for the Western District of Virginia

U.S. House of Representatives

U.S. Patent and Trademark Office

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court