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Banking
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December 23, 2025
Greenberg Traurig-Led Silicon Valley SPAC Raises $200M
Special purpose acquisition company Silicon Valley Acquisition Corp. began trading publicly on Tuesday after raising $200 million in its initial public offering, with plans to pursue an acquisition of a company undergoing "structural transformation."
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December 23, 2025
Rent-To-Own Co. FlexShopper Hits Ch. 11 After Fraud Claims
FlexShopper, a company offering lease-to-own services for appliances and electronics, has filed for Chapter 11 protection in the Delaware bankruptcy court, listing more than $100 million in debt and alleging its former CEO used forged documents to secure financing for the firm before its collapse.
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December 22, 2025
JPMorgan Rips Javice Attys' 'Absurd' Bills For Candy, Booze
JPMorgan has unveiled new details in its ongoing legal fee fight with Charlie Javice, accusing the convicted financial aid startup founder's Quinn Emanuel defense counsel and other firms of billing for "absurd" and "outrageous" expenses, including specialty cocktails, cellulite butter, a Cookie Monster toy and $530 on gummy bears.
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December 22, 2025
NY's James, 21 Other Dem AGs Say sa¹ú¼Ê´«Ã½ Defunding Unlawful
New York Attorney General Letitia James led a coalition of nearly two dozen Democratic attorneys general in claiming the Trump administration's effort to defund the Consumer Financial Protection Bureau is illegal, telling an Oregon federal court Monday the municipalities are statutorily entitled to the sa¹ú¼Ê´«Ã½'s resources
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December 22, 2025
Hochul Signs AG James' Bill To Expand Consumer Law
New York Gov. Kathy Hochul has signed into law New York Attorney General Letitia James' legislation to expand the state's ban on deceptive business practices to also protect against unfair and abusive practices, in the first updates to the state's primary consumer protection law in 45 years.
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December 22, 2025
PayPal Pares Bias Suit Over Minority-Focused Economic Fund
A New York federal judge trimmed down a venture capital firm CEO's lawsuit accusing PayPal of discriminating against Asian Americans in a $500 million economic opportunity fund for Black- and minority-led businesses in 2020, allowing two claims against the financial technology company to go forward while tossing a couple of others.
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December 22, 2025
Major Banks Want Loan Rate Collusion Suit Tossed
Several major banks urged a Connecticut federal judge to toss a proposed class action alleging that for the past 30 years, they have been artificially inflating interest rates on variable-rate loans to consumers and small businesses, arguing the suit fails to plead evidence of a conspiracy among the banks.
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December 22, 2025
CFTC Acting Chair Departs As New Leader Sworn In
The U.S. Commodity Futures Trading Commission's acting chair said Monday she would leave the agency at the end of the day, an announcement that followed the approval of her successor and her previous announcement that she is taking a role at a cryptocurrency company.
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December 22, 2025
First Brands Can Access $60M In 'Trapped' Funds
A Texas bankruptcy judge said Monday that auto-parts maker First Brands Group can access about $60 million in cash held by customers or stuck in segregated accounts, while setting up a January hearing to handle the debtor's proposed process to reconcile $3 billion in third-party factoring agreements with pending invoices.
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December 22, 2025
Qatar Bank Says $1B Sudan Award Can Be Enforced
Qatar National Bank pressed its case against the Bank of South Sudan's bid to avoid enforcement of a $1 billion arbitral award that found South Sudan defaulted on a $700 million loan agreement from its civil war era, arguing Friday that the Sudanese bank is seeking "an impermissible appeal of unfounded issues."
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December 22, 2025
4 Robbins Geller Attys To Join New Securities Boutique
The managing partner of the New York City office of midsized law firm Robbins Geller Rudman & Dowd LLP is leaving with three other securities partners to join a new securities boutique that was launched by a lawyer who recently left Bernstein Litowitz Berger & Grossmann LLP in a contentious exit.
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December 22, 2025
Jury Deadlocks In Ex-NY Gov. Aide's Foreign Agent Case
A Brooklyn federal judge on Monday declared a mistrial in a case alleging a former top aide to two New York governors did the bidding of the People's Republic of China at the highest levels of state government in exchange for millions of dollars, after the jury deadlocked on all charges.
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December 22, 2025
New Class Action Claims CIBC, RBC Rigged Quantum Shares
A Quantum Biopharma investor has filed a proposed class action against several major Canadian banks, accusing them of running a spoofing scheme for years that artificially drove down Quantum's stock price — flooding exchanges with fake sell orders to mislead the market and buy shares at deflated prices, costing ordinary shareholders millions.
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December 19, 2025
PHH's $29.5M Kickback Deal Gets Final OK After 17 Years
After 17 years of litigation, a certified class of homeowners got the final stamp of approval in California federal court for a $29.5 million settlement with PHH Mortgage and its captive reinsurer, both of which homeowners alleged received unlawful kickbacks from premiums paid for mortgage insurance.
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December 19, 2025
Fed Seeks Input On Limited Master Accounts For Fintechs
The Federal Reserve Board on Friday took another step toward rolling out what are known as skinny master accounts for fintech firms, requesting public feedback on a special purpose Reserve Bank account prototype "tailored to the risks and needs of institutions focused on payments innovation."
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December 19, 2025
Wells Fargo Sued By Ex-Exec Over 'Fake' Diversity Interviews
A former Wells Fargo executive has filed suit in California federal court, accusing the bank of systemic racial discrimination against Black employees and customers and alleging that he was retaliated against for challenging these practices.
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December 19, 2025
Iowa Appeals Schwab Antitrust Deal After Objections
Iowa's attorney general has appealed to the Fifth Circuit a Texas federal judge's final approval of a settlement ending an antitrust class action suit over The Charles Schwab Corp.'s merger with TD Ameritrade, following the Hawkeye State's previous objection claiming the deal offered class members insufficient relief.
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December 19, 2025
FINRA Fines BofA Unit Over Order Routing Disclosures
Bank of America's securities unit will pay $225,000 to the Financial Industry Regulatory Authority to end claims it published error-filled reports about how it handled customer securities orders, FINRA has announced.
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December 19, 2025
Loan Co. Strikes $750K Deal To End EEOC Disability Bias Suit
The U.S. Equal Employment Opportunity Commission and a loan company have asked a Georgia federal court to approve a $750,000 deal to end a suit alleging it fired an employee who asked for time off to recover from two major heart attacks.
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December 19, 2025
Texas Justices Order Redo For BofA Building Valuation
The Texas Supreme Court on Friday ordered a redo in a valuation that saw Bank of America communicate with a supposedly neutral appraiser ahead of time, saying that a trial court improperly confirmed an $8 million appraisal of a Houston property.
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December 19, 2025
Cadence Bank Seeks 1st Nod For $5.25M Data Breach Deal
Cadence Bank has reached a $5.25 million deal to end negligence claims it faced in multidistrict litigation over the May 2023 breach of file transfer application MOVEit, a consumer affected by the breach has informed a Boston federal judge.
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December 19, 2025
More Pardon Seekers Going 'Straight To The White House'
A nonprofit's unusual plan to make a mass pardon request directly to the Trump administration highlights burgeoning optimism among white collar defendants about their chances of securing relief, and a recognition that the clearest path to clemency no longer runs through the traditional channels.
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December 19, 2025
Disbarred Calif. Lawyer Gets 18 Mos. For Advance Fee Fraud
A Manhattan federal judge sentenced a disbarred California lawyer to 18 months in prison Friday for scheming to reap $4 million in advance fees for bogus letters of credit while holding himself out as chief of compliance for a fake bank.
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December 19, 2025
Borrowers Win Cert. In NC Mortgage Phone Payment Fees Suit
A North Carolina federal judge has certified a class of North Carolina borrowers who claim their loan servicer charged them exorbitant processing fees for paying their monthly mortgage by phone, finding there are common questions that are best resolved in a class action.
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December 19, 2025
Calif. Ex-Customs Broker Sentenced For Tax, Wire Fraud
A California man was sentenced to 51 months in federal prison after being indicted this year on federal fraud charges and one count of tax evasion, the U.S. Department of Justice said.
Expert Analysis
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Series
Nature Photography Makes Me A Better Lawyer
Nature photography reminds me to focus on what is in front of me and to slow down to achieve success, and, in embracing the value of viewing situations through different lenses, offers skills transferable to the practice of law, says Brian Willett at Saul Ewing.
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2025 Brought A New Paradigm For Federal Banking Regulation
A series of thematic shifts defined banking regulation in 2025, including a fundamental reform of prudential supervision, a strategic easing of capital constraints, steps to streamline merger reviews, and a new framework for fair access and entrants seeking to offer banking services, say attorneys at Simpson Thacher.
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Series
Law School's Missed Lessons: Practical Problem Solving
Issue-spotting skills are well honed in law school, but practicing attorneys must also identify clients’ problems and true goals, and then be able to provide solutions, says Mary Kate Hogan at Quarles & Brady.
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Crypto In 2025: From Federal Deregulation To State Action
The cryptocurrency enforcement landscape evolved in 2025, marked by federal deregulatory trends and active state attorney general enforcement, creating both opportunity and risk for businesses navigating the digital asset market, say attorneys at Cozen O'Connor.
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Opinion
A Uniform Federal Rule Would Curb Gen AI Missteps In Court
To address the patchwork of courts’ standing orders on generative artificial intelligence, curbing abuses and relieving the burden on judges, the federal judiciary should consider amending its civil procedure rules to require litigants to certify they’ve reviewed legal filings for accuracy, say attorneys at Shook Hardy.
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Investment Advisers Should Stay Apprised Of New AI Risks
The U.S. Securities and Exchange Commission's recently issued annual examination priorities reiterate a host of regulatory implications for investment advisers using artificial intelligence tools, highlighting that meaningful ongoing due diligence can help mitigate both operational and regulatory surprises amid AI's rapid evolution, says Christopher Mills at Sidley.
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AG Watch: Texas Junk Fee Deal Shows Enforcement Priorities
Texas Attorney General Ken Paxton's recent $9.5 million settlement with online travel agency website Booking Holdings for so-called junk fee practices follows a larger trend of state attorneys general who have taken similar action and demonstrates the significant penalties that can follow such allegations, say attorneys at Kelley Drye.
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10th Circ. Dissent May Light Path For Master Account Access
While the Tenth Circuit's majority in Custodia Bank v. Federal Reserve Board recently affirmed Federal Reserve banks' control over master account access, the dissent raised constitutional questions that could support banks seeking master accounts in future litigation, say attorneys at Paul Hastings.
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Series
The Law Firm Merger Diaries: Integrating Practice Groups
Enacting unified leadership and consistent client service standards ensures law firm practice groups connect and collaborate around shared goals, turning a law firm merger into a platform for growth rather than a period of disruption, says Brian Catlett at Fennemore Craig.
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Receivership Law May Streamline Real Estate Sales In Illinois
The Illinois Receivership Act, which goes into effect Jan. 1, provides much-needed clarity on the issue of receivers' sales of commercial real estate and will make the process easier for parties including receivers, special servicers and commercial real estate lenders, say attorneys at Troutman.
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Opinion
Supreme Court Term Limits Would Carry Hidden Risk
While proposals for limiting the terms of U.S. Supreme Court justices are popular, a steady stream of relatively young, highly marketable ex-justices with unique knowledge and influence entering the marketplace of law and politics could create new problems, say Michael Broyde at Emory University and Hayden Hall at the U.S. Bankruptcy Court for the District of Delaware.
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The SEC Whistleblower Program A Year Into 2nd Trump Admin
The U.S. Securities and Exchange Commission's whistleblower program continues to operate as designed, but its internal cadence, scrutiny of claims and operational structure reflect a period of recalibration, with precision mattering more than ever, say attorneys Scott Silver and David Chase.
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Key Crypto Class Action Trends And Rulings In 2025
As the law continued to take shape in the growing area of crypto-assets, this year saw a jump in crypto class action litigation, including noteworthy decisions on motions to compel arbitration and class certification, according to Justin Donoho at Duane Morris.
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How New SEC Policies Shift Shareholder Proposal Landscape
U.S. Securities and Exchange Commission Chairman Paul Atkins' recent remarks provide a road map for public companies to exclude nonbinding shareholder proposals from proxy materials, which would disrupt the mechanism that has traditionally defined how shareholders and companies engage on governance matters, say attorneys at Gunderson.
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Series
Knitting Makes Me A Better Lawyer
Stretching my skills as a knitter makes me a better antitrust attorney by challenging me to recalibrate after wrong turns, not rush outcomes, and trust that I can teach myself the skills to tackle new and difficult projects — even when I don’t have a pattern to work from, says Kara Kuritz at V&E.