CFPB Examiners To Restart Reviews With 'Humility Pledge'

By Jon Hill

The Consumer Financial Protection Bureau has told staff that it plans to resume supervision work and will require them to begin each examination by reading out a "humility pledge" to the banks and other financial firms they are reviewing.

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CFPB Inks $1.75M MoneyLion Deal Over Military Lending

By Katryna Perera & Jon Hill

The Consumer Financial Protection Bureau reached a $1.75 million settlement with MoneyLion Technologies Inc. to end a Biden-era enforcement action in New York federal court that accused the fintech lender of overcharging military service members.

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BNY Mellon Cleared By Jury Of Unjust Enrichment Claim

By Elliot Weld

A New York federal jury has cleared Bank of New York Mellon of allegations of unjust enrichment from a contractor who claimed his investment valuation model had been misappropriated.

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Bankers Press Congress To Pass 'Critical' AML Reporting Bill

By Sarah Jarvis

The American Bankers Association and 50 state bankers groups are urging congressional leaders to pass proposed legislation to increase dollar thresholds for anti-money-laundering reporting, saying it would be a "critical element" of modernizing illicit finance rules for banks.

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Brief

Debt Negotiator Settles Case Against Conn. Banking Chief

By Aaron Keller

Following a Connecticut Supreme Court opinion, a law firm and a linked support services company have agreed to settle a lawsuit that questioned whether the state banking commissioner could regulate their debt negotiation services or if the judicial branch enjoyed that exclusive responsibility.

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FINRA Fines Nomura $625K Over Short Selling Rule Breaches

By Emilie Ruscoe

A broker-dealer unit of Japanese financial services company Nomura Group has agreed to pay $625,000 to end Financial Industry Regulatory Authority claims tied to its compliance with short-selling regulations.

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Mich. Mortgage Co. Hit With Data Breach Class Actions

By Isaac Monterose

A Michigan mortgage lender was hit with several proposed data breach class actions that alleged in Michigan federal court that the lender failed to do enough to protect consumers' personally identifiable information, such as their Social Security numbers, from a June data breach.

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Ga. Tax Worker Granted Interest On Chrisley Slander Verdict

By Chart Riggall

A Georgia tax official will collect interest on top of a $755,000 slander verdict she won from former reality TV personality and convicted felon Todd Chrisley after a jury found he falsely accused her of unethical and illegal behavior, a Georgia federal judge said.

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Firm Wants Lender's Attys To Bear Blame In $16.2M Loan Suit

By Brian Steele

Willinger Willinger & Bucci PLLC is responsible for any damages suffered by a New York lender that relied on falsified documents to approve a $16.2 million loan to the development arm of a Connecticut housing authority, Pullman & Comley LLC said in seeking to shift the blame away from itself.

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Squires Issues 57 More PTAB Denials, Broken Out By Type

By Ryan Davis and Theresa Schliep

U.S. Patent and Trademark Office Director John Squires has rejected another 57 petitions challenging patents under the America Invents Act and for the first time differentiated between those denied for discretionary reasons and those denied on the merits.

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Brief

Conn. Banking Chief Says Private School Fraud Topped $5.1M

By Aaron Keller

Putnam Science Academy, a private high school in Northeastern Connecticut, owes an additional investor money in what is alleged to have been an affinity fraud scheme that topped $5.1 million, according to an amended order by the state banking commissioner.

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Roundup

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

By Laura Stewart Liberty

This past week in London has seen Clyde & Co. face a claim from Yorkshire firm GWB Harthills, a property developer previously investigated over suspected bribery and corruption sue the general counsel and solicitor to HM Revenue and Customs, and sportswear giant Gymshark bring an intellectual property claim against its co-founder's rival company, AYBL. Here, Law360 looks at these and other new claims in the U.K.

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Stay Denied In Ch. 11 Suit Over $100M Special Needs Fraud

By David Minsky

A Florida bankruptcy judge on Friday declined to halt an adversary class action against a Texas bank accused of aiding the alleged $100 million theft from a special needs trust, allowing document discovery to proceed while the bank's motion to toss the case is pending. 

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From Bank Loans To Private Credit: Tips For Making The Shift

The relationship between private credit and syndicated bank deals will evolve as the private market continues to grow, introducing new challenges for borrowers comparing financing options, particularly pertaining to loan documentation and working capital, say attorneys at Haynes Boone.

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Opinion

Despite Deputy AG Remarks, DOJ Can't Sideline DC Bar

Deputy Attorney General Todd Blanche’s recent suggestion that the D.C. Bar would be prevented from reviewing misconduct complaints about U.S. Department of Justice attorneys runs contrary to federal statutes, local rules and decades of case law, and sends the troubling message that federal prosecutors are subject to different rules, say attorneys at HWG.

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Bonus Spotlight

Texas Boutique Giving Associates Bonuses Of Up To $135K

By Tracey Read

Texas complex commercial litigation boutique Vartabedian Hester & Haynes LLP announced Friday that it will reward associates with additional year-end bonuses of up to $135,000 by Dec. 31, while more firms said they'd match or exceed the prevailing BigLaw scale.

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Atty Had 6 AI Tools Check Each Other, Yet Fakes Still Cited

By Andrea Keckley

A California federal judge has sanctioned a solo practitioner representing the plaintiffs in a proposed wage and hour class action against clothing brand Vuori Inc. after he admitted to using about a half-dozen artificial intelligence tools to prepare a motion.

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Fenwick & West Must Face New Claims In FTX Crypto MDL

By Madison Arnold

A Florida federal judge signed off on a bid to file new claims against Fenwick & West LLP by victims of the infamous FTX Trading Ltd. cryptocurrency scam after they argued that new information had emerged about the firm's alleged role in the trading platform's collapse.

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Google Calls Rumble's Judge Recusal Bid 'Cynical Maneuver'

By Rae Ann Varona

Google argued Friday that a California federal judge need not recuse himself from YouTube rival Rumble's antitrust suit despite his friendship with Google's top in-house litigation chief, saying Rumble's push for the recusal was a "cynical maneuver" for its Ninth Circuit appeal of a summary judgment loss.

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Ex-Gordon Rees Atty Reprimanded For Mistakes Blamed On AI

By Rose Krebs

An Alabama bankruptcy judge won't sanction Gordon Rees Scully Mansukhani LLC for a filing submitted by one of its former lawyers that contained mistakes blamed on artificial intelligence, but has reprimanded the attorney and ordered her to notify her clients about the reprimand.

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Worker Says Morgan & Morgan Fired Her Over Fraud Concern

By Irene Spezzamonte

Injury law firm Morgan & Morgan PA fired a case manager after she voiced a concern about fraudulent client hospital records she said the firm gave to opposing counsel to snag more favorable settlements and failed to pay overtime, according to a suit in California state court.

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Tort Report: Ga. Injury Suits Surge Ahead Of Tort Reform

By Y. Peter Kang

Word of a big surge in Georgia injury lawsuits ahead of tort reform legislation and a $66 million Atlanta nightclub shooting judgment lead Law360's Tort Report, which compiles recent personal injury and medical malpractice news that may have flown under the radar.

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Ex-US Trustee Director's Firing Appeal Tossed, For Now

By Clara Geoghegan

The former head of the U.S. Department of Justice's bankruptcy watchdog program had her appeal challenging her abrupt firing dismissed, at least for now, while a federal agency mulls questions around executive power in separate cases.

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DOJ Will Speed Some Classified Discovery In Bolton Case

By Jared Foretek

Federal prosecutors agreed Friday to accelerate their classified discovery timeline in the prosecution of John Bolton, as a Maryland federal judge pressed them to move faster.

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Ga. Justices Spell Out How Atty Ads Can Be Misleading

By Emily Johnson

The Georgia Supreme Court has updated the State Bar of Georgia's rule that prohibits attorneys from misleading the public in advertising their services, defining how lawyers' messaging in ads could run afoul of the state's rule and possibly lead to disbarment.

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DC Judge Backs Local Grand Jury's Federal Indictment Power

By Jared Foretek

Following a D.C. federal judge's Thursday ruling that the city's unique legal structure allows prosecutors to bring indictments from local grand juries to federal court, a District of Columbia man on Friday asked the court to stay the ruling for five business days.

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GC Cheat Sheet: The Hottest Corporate News Of The Week

By Sue Reisinger

This week's edition of GC Cheat Sheet explores which top legal officers take home the most money and why. And the general counsel of SolarWinds Corp. can finally leave its data breach regulatory problems behind after the Securities and Exchange Commission dropped its unprecedented case against the company and its chief information security officer.

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Law360's Legal Lions Of The Week

By Kevin Penton

Kellogg Hansen Todd Figel & Frederick PLLC leads this week's edition of Law360 Legal Lions, after a D.C. federal judge rejected a Federal Trade Commission suit accusing Meta Platforms of illegally monopolizing social media through its purchases of WhatsApp and Instagram.

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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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