Banking Regulators Pledge Basel Reset Amid Capital Rethink

By Jon Hill

Federal banking regulators told House lawmakers Tuesday that they are committed to advancing a fully rebuilt Basel III endgame rule that won't disrupt bank lending or gold-plate its requirements, although they stopped short of promising a capital-neutral result.

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Democratic Sens. Press 21 Credit Unions On Overdraft Fees

By Sarah Jarvis

A trio of Democratic U.S. senators are pressing various credit unions for data and information on their policies concerning fees charged to customers who overdraft or have insufficient funds, in light of the National Credit Union Administration's decision to stop publishing overdraft data, among other things.

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FDIC Secures Dismissal Of SVB Cayman Deposit Suit

By Katryna Perera

A California federal judge has permanently tossed a suit against the Federal Deposit Insurance Corp. brought by liquidators of the Cayman Islands branch of collapsed Silicon Valley Bank, finding they lack standing to sue the agency and are barred from relitigating issues already decided in bankruptcy court.

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PennyMac Can't Shed 'Pay-To-Pay' Borrower Class Action

By Emilie Ruscoe

Residential mortgage servicer PennyMac Loan Services LLC can't shed a proposed class action alleging it unfairly charged borrowers "pay-to-pay" fees, a North Carolina federal judge has said, saying the servicer's assertion that it doesn't collect or receive the relevant fees is an issue for a later stage in the proceedings.

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MVP: Paul Hastings' Jennifer St. John Yount

By Katryna Perera

Jennifer St. John Yount of Paul Hastings LLP worked with several major banks and credit lenders over the past year in complex, "jumbo" transactions, including advising a syndicate of private credit lenders in providing financing for Clearlake Capital's $5.3 billion majority growth investment in an AI-powered healthcare platform, earning her a spot as one of the 2025 Law360 Banking MVPs.

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SDNY Head Backs Good Deals For Quick Cooperation By Cos.

By Stewart Bishop

Manhattan U.S. Attorney Jay Clayton on Tuesday said he's prepared to offer "real benefits" to corporations facing criminal investigations if they quickly agree to cooperate and compensate victims, ideally in the form of comprehensive, government-wide resolutions.

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NY AG Claims Peak Capital Illegally Deregulated Apartments

By Isaac Monterose

A New York City developer wrongfully took advantage of a rent-stabilization exemption for building renovations to profit from illegally deregulating rent-stabilized apartments, New York State and its Division of Housing and Community Renewal alleged in state court.

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Ex-Estate Trustee Dodges Jail In $16M Mismanagement Suit

By Brian Steele

A Connecticut state court judge has declined to jail or otherwise sanction a former trustee in a discovery dispute over his use of $16 million in family trust assets to secure lines of credit and invest in Vietnamese real estate, but he wants document production issues resolved "as expeditiously as possible."

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SEC's Atkins Pushes To Broaden Small Business Criteria

By Jessica Corso

U.S. Securities and Exchange Commission Chairman Paul Atkins said on Tuesday that the agency should push to change the definition of small business so that more publicly traded companies can forgo what he considers to be burdensome regulatory requirements.

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3rd Circ. Weighs 'Information' Meaning In Credit Report Rift

By George Woolston

A panel of the Third Circuit on Tuesday considered whether Experian acted reasonably when it reported that a New Jersey consumer was behind on child support payments despite the consumer's efforts to dispute that report's accuracy, questioning whether the purported delinquency had to be reported in the first place.

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Ex-Amerant Bank Exec Claims Retaliation For Whistleblowing

By Sydney Price

Amerant Bank has been hit with a suit in Florida state court accusing it of ousting a senior vice president for speaking out against alleged prohibited activity at the bank, including several violations the former executive says were carried out by the bank's trust department.

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Wells Fargo Beneficiary's Hidden Trust Claims Are Too Late

By Emilie Ruscoe

Wells Fargo has beaten claims that it intentionally concealed a Massachusetts man's trust fund and drove him to financial instability, after a federal judge found the man didn't take appropriate steps to find his trust decades earlier.

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Santander Scores $472M For 3.5% Stake In Polish Unit

By Al Barbarino

Banco Santander SA announced Tuesday it sold 3.5% of equity in its Polish subsidiary, Santander Bank Polska, through an accelerated placement that raised roughly PLN 1.72 billion, or about $472 million.

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A Primer On NYDFS' 3rd-Party Cybersecurity Guidance

The New York Department of Financial Services' recently released comprehensive guidance for registrants on managing cybersecurity risks associated with third-party service providers illustrates why proactive engagement by senior leadership, robust due diligence, strong contractual protections and ongoing oversight are essential to mitigating growing risks, say attorneys at McGuireWoods.

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A Close Look At The Evolving Interval Fund Space

Interval funds — closed-end registered investment companies that make periodic repurchase offers — have recently moved to the center of the conversation about retail access to private markets, spurred along by President Donald Trump's August executive order incorporating alternative assets into 401(k) plans and target date strategies, say attorneys at Simpson Thacher.

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Bonus Spotlight

Sheppard Mullin To Offer Larger Bonuses To Busy Associates

By Kevin Penton

Sheppard Mullin Richter & Hampton LLP associates who labored past 2,000 hours in 2025 can expect to see a little extra in their upcoming bonus checks, according to an internal memo obtained by Law360.

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Hagens Berman Referred To DOJ For Alleged Misconduct

By Emma Cueto

A Pennsylvania federal judge on Tuesday recommended to the U.S. Department of Justice that it investigate powerhouse plaintiffs firm Hagens Berman Sobol Shapiro LLP's conduct in connection with several since-dropped product liability cases that a special master found to be filed in bad faith.

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King & Spalding Atty Dies In Mountain Climbing Accident

By Kelcey Caulder

People at King & Spalding LLP are mourning after an appellate attorney from the firm and a mountain guide fell to their deaths climbing New Zealand's tallest mountain.

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Approach The Bench: Judge Robart On Living Under Threats

By Cara Bayles and Steven Trader

It's been nearly nine years since U.S. District Judge James Robart blocked President Donald Trump's 2017 executive order barring travel from seven Muslim-majority countries, and though the judge has had a long career — including groundbreaking patent and securities decisions — he still occasionally gets recognized as that "so-called judge."

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Twitter Investors Lose Bid To DQ Musk Counsel Spiro

By Katryna Perera

A California federal judge has denied an attempt by Twitter investors to have Quinn Emanuel Urquhart & Sullivan LLP partner Alex Spiro disqualified from serving as both lead counsel for Elon Musk and a witness in a trial over claims that Musk tried to tank Twitter's stock.

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Dentons Sees Ex-Partner's Appeal Nixed In California

By Caroline Simson

California's highest court has quietly tossed litigation filed by a former Dentons partner who was fired over a $34 million contingency fee due from a Chinese client following an arbitration matter, several months after advising the parties to prepare for oral arguments.

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The Top In-House Hires Of November

By Sue Reisinger

Elon Musk's xAI has a new but familiar general counsel, while several sports groups — including the New York Mets, PGA of America and the SEC college athletic conference — also brought on new legal leaders in November.

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Exclusive

14 Ex-Lawmakers Tell USPTO Proposed Rules Violate The Law

By Ryan Davis

A group of 14 former members of Congress, including America Invents Act sponsor Patrick Leahy, has told the U.S. Patent and Trademark Office that the agency's proposal to restrict many patent challenges "violates foundational American legal principles and the AIA."

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Monthly Merger Review Snapshot

By Matthew Perlman

The FTC urged a D.C. court to block a deal involving a new heart valve treatment, and courts rejected the commission's monopolization case over Meta's past acquisitions and the agency's challenge of a medical device coatings deal. Here, Law360 looks at the major merger review developments from November.

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2 New Judges Confirmed To NC Federal Court

By Courtney Bublé

The U.S. Senate confirmed two federal judges for North Carolina on Tuesday.

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