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Banking

  • October 20, 2025

    Calif. Credit Cardholders Can't Get Swipe Fee Case Do-Over

    A New York federal judge who was recently assigned to a putative interchange fee class action lawsuit from California cardholders against Visa, Mastercard and major banks in long-running multidistrict litigation has denied their motion for reconsideration of another judge's reconsideration denial.

  • October 20, 2025

    NY AG Reaches Deal With Accounting Firm Over Data Breaches

    A certified public accounting firm has agreed to pay $60,000 and improve its data security to resolve the New York attorney general's claims that it failed to adequately protect unencrypted Social Security numbers and other personal information swept up in a pair of data breaches or swiftly notify affected clients.

  • October 20, 2025

    OCC Chief Says Stablecoin Drain Wouldn't 'Happen Overnight'

    A top U.S. banking regulator on Monday downplayed concerns that future growth in interest-earning payment stablecoins could bleed banks of deposits, saying any such shift would be gradual and closely watched by regulators, not a sudden shock to the system.

  • October 20, 2025

    Green Dot Investors Seek First OK For $40M Settlement

    Shareholders of financial technology company Green Dot are seeking an initial nod for their $40 million deal ending proposed class action claims accusing the company of concealing declining prepaid card sales amid competition from digital banking alternatives.

  • October 20, 2025

    5th Circ. Affirms Fraud Conviction Of Failed Bank's Ex-CEO

    A Fifth Circuit panel upheld the conviction of former First NBC Bank CEO Ashton J. Ryan Jr., who was sentenced to 14 years in prison and ordered to pay $215 million in restitution after a jury found him guilty of bank fraud and conspiracy related to the collapse of the Louisiana bank.

  • October 20, 2025

    Venezuela Oil Co. PDVSA To Appeal $2.86B Bond Ruling

    Venezuela's state-owned oil company plans to appeal a New York federal judge's recent decision ordering it to pay $2.86 billion to bondholders, after the judge ruled last month that defaulted Venezuelan bonds were validly issued under the South American country's laws.

  • October 20, 2025

    Wells Fargo Borrowers Defend Mortgage Application Fees Suit

    A proposed class of Wells Fargo borrowers is fighting the bank's dismissal bid of their suit, which accuses the bank of wrongfully charging them mortgage application fees and failing to provide proper refunds, arguing in California federal court that Wells Fargo's dismissal motion "mischaracterizes" the named plaintiff's claims.

  • October 20, 2025

    Jack Nicklaus Wins $50M In Fla. Defamation Trial

    A Florida jury on Monday awarded Jack Nicklaus $50 million in his defamation lawsuit against the company named after him, finding it made false statements in a 2022 New York lawsuit over the golf legend's interest in a Saudi Arabian league and disseminated those claims to news organizations.

  • October 20, 2025

    2 Firms Steer $170M Merger Of Ill. Bank Holding Cos.

    The holding companies of Illinois-based Heartland Bank and Trust Co. and CNB Bank & Trust NA will merge in a $170.2 million combined stock and cash transaction, the companies announced Monday.

  • October 20, 2025

    9th Circ. Nixes Class' Appeal For Reverse Mortgage Loan Suit

    The Ninth Circuit tossed an appeal and a related rehearing bid for a proposed class action that accused a company of running an unlawful reverse mortgage loan scheme, ruling that the proposed class of homeowners has agreed with the company to voluntarily drop their appeal.

  • October 20, 2025

    Conn. Firm, Former Client End Cybersecurity Dispute

    A Connecticut personal injury firm and its former client have reached a joint stipulation of dismissal in a federal court dispute over the firm's hacked email system and a fraudulent email that resulted in the wiring of nearly $730,000 in closing costs on a residential property.

  • October 20, 2025

    Bank Seeks Atty Fees For 'Vexatious' Patent Suit

    CIBC Bank has asked a Texas federal court to impose sanctions on a rival litigant, its principal and one of its attorneys, saying the patent claims they brought were "vexatious and substantively unsuccessful in every single aspect."

  • October 20, 2025

    More Fed. Workers Added To TRO Blocking Shutdown Layoffs

    A California federal judge who blocked the Trump administration from laying off workers from two unions representing thousands of federal workers has expanded her temporary restraining order to include three more unions and also clarified that the order covered workers with union contracts that the administration is seeking to ditch.

  • October 20, 2025

    Crypto Exchange To Go Public Via $1B SPAC Merger

    Davis Polk & Wardwell LLP-led digital asset treasury Evernorth Holdings Inc. on Monday unveiled plans to go public through a merger with special purpose acquisition company Armada Acquisition Corp II, advised by Wilson Sonsini Goodrich & Rosati PC, in a deal that is expected to raise over $1 billion in gross proceeds.

  • October 17, 2025

    Venezuela's PDVSA Ordered To Pay $2.86B To Bondholders

    A New York federal judge Friday ordered Venezuela's state-owned oil firm Petróleos de Venezuela SA to pay $2.86 billion to bondholders, after ruling last month that defaulted Venezuelan bonds were validly issued under the South American country's laws.

  • October 17, 2025

    DC Circ. Denies DOJ Bid For Shutdown Delay In sa¹ú¼Ê´«Ã½ Case

    The D.C. Circuit said Friday it will not delay briefing in the Consumer Financial Protection Bureau layoffs case as the government shutdown drags on, rejecting a Trump administration request for a deadline extension tied to the lapse in federal funding.

  • October 17, 2025

    BNP Must Pay $20M To 3 Sudanese Refugees, NY Jury Finds

    A New York federal jury Friday returned a landmark $20 million verdict against French bank BNP Paribas, finding the bank liable for its role enabling the genocide former Islamist dictator Omar al-Bashir committed against Black African civilians in Sudan.

  • October 17, 2025

    Chamber Urges 5th Circ. To Rehear Ex-Bank CEO's FDIC Case

    The U.S. Chamber of Commerce and other libertarian advocacy groups urged the Fifth Circuit on Friday to reconsider a panel ruling shielding the Federal Deposit Insurance Corp.'s in-house courts from a constitutional challenge, arguing the decision defies U.S. Supreme Court precedent and leaves bank officials "trapped in the bureaucratic machinery" of juryless agency prosecutions.

  • October 17, 2025

    John Hancock, UBS Settle $600K Data Breach Class Action

    UBS Financial Services Inc., John Hancock Investment Management LLC and their marketing vendor DG3 North America Inc. have gotten a final nod for their $600,000 deal ending customer claims stemming from a DG3 data breach.

  • October 17, 2025

    Investment Firm Founder Indicted On Alleged $500M Scheme

    The co-founder of two Florida-based investment firms has been accused by federal prosecutors and the U.S. Securities and Exchange Commission of defrauding lenders and investors out of hundreds of millions of dollars with false representations about the firms' financial success and assets.

  • October 17, 2025

    Major Banks Colluded For 30 Years To Fix Rates, Suit Says

    Several major banks, including JPMorgan Chase, Bank of America and Wells Fargo, have been hit with a proposed class action in Connecticut federal court alleging that for the past 30 years, they have been artificially inflating interest rates on variable-rate loans to consumers and small businesses.

  • October 17, 2025

    Bankers Lobby Warns Of 'Operational Crises' From Penny Halt

    A banking industry group on Friday urged leaders of the Federal Reserve and the U.S. Department of the Treasury to swiftly address "operational crises" the institutions say have arisen from a policy restricting penny deposits at coin terminals as the U.S. phases out the one-cent coin.

  • October 17, 2025

    Cornerstone, Peoples Bank To Form $3.1B Texas Lender

    Houston-based Cornerstone Capital Bancorp Inc. said Friday that it has agreed to acquire Peoples Bancorp Inc. of Lubbock, Texas, in a deal that will deepen its Texas presence and unite two community banks into a $3.1 billion-asset franchise.

  • October 17, 2025

    Federal Courts To Scale Back Operations Amid Shutdown

    The federal court system has run out of money and will scale back operations beginning Monday as a result of the ongoing government shutdown, possibly leading to case delays.

  • October 17, 2025

    Ark. Trust 'Trying To Determine' What NY Attys Did With $20M

    A New York law group is facing allegations that it misappropriated $20 million that was meant to facilitate a business loan transaction on behalf of an Arkansas trust.

Expert Analysis

  • Series

    Law School's Missed Lessons: Negotiation Skills

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    I took one negotiation course in law school, but most of the techniques I rely on today I learned in practice, where I've discovered that the process is less about tricks or tactics, and more about clarity, preparation and communication, says Grant Schrantz at Haug Barron.

  • Taxpayers Face Tough Choices Under NJ's New Nexus Rules

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    Though New Jersey’s new rules expanding the commercial nexus that triggers state taxation are likely to be challenged, businesses still need to carefully consider whether it’s best to minimize potential tax by reducing online customer support services or maintain their current instate services and begin paying tax, say attorneys at Husch Blackwell.

  • How Community Banks Can Limit Overdraft Class Action Risk

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    With community banks increasingly confronted with class actions claiming deceptive overdraft fees, local institutions should consider proactively revising their customer policies and agreements to limit their odds of facing costly and complicated consumer litigation, say attorneys at Jones Walker.

  • Opinion

    Bar Exam Reform Must Expand Beyond A Single Updated Test

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    Recently released information about the National Conference of Bar Examiners’ new NextGen Uniform Bar Exam highlights why a single test is not ideal for measuring newly licensed lawyers’ competency, demonstrating the need for collaborative development, implementation and reform processes, says Gregory Bordelon at Suffolk University.

  • A Simple Way Courts Can Help Attys Avoid AI Hallucinations

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    As attorneys increasingly rely on generative artificial intelligence for legal research, courts should consider expanding online quality control programs to flag potential hallucinations — permitting counsel to correct mistakes and sparing judges the burden of imposing sanctions, say attorneys at Lankler Siffert & Wohl and Connors.

  • Surveying The Changing Overdraft Fee Landscape

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    Despite recent federal moves that undermine consumer overdraft fee protections, last year’s increase in fee charges suggests banks will face continued scrutiny via litigation and state regulation, says Amanda Kurzendoerfer at Bates White.

  • What's At Stake In High Court Review Of Funds' Right To Sue

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    The U.S. Supreme Court's upcoming review of FS Credit Opportunities v. Saba Capital Master Fund, a case testing the limits of using Investment Company Act Section 47(b) to give funds a private right of action to enforce other sections of the law, could either encourage or curb similar activist investor lawsuits, say attorneys at Goodwin.

  • Handling Sanctions Risk Cartel Control Brings To Mexico Port

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    Companies operating in or trading with Mexico should take steps to mitigate heightened exposure triggered by routine port transactions following the U.S. Treasury’s recent unequivocal statement that a foreign terrorist organization controls the port of Manzanillo, says Jeremy Paner at Hughes Hubbard.

  • The Road Ahead For Digital Assets Looks Promising

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    With new legislation expected to accelerate the adoption of blockchain technology, and with regulators taking a markedly more permissive approach to digital assets, the convergence of traditional finance and decentralized finance is closer than ever, say attorneys at Dechert.

  • Unpacking The Supreme Court's Views On Judgment Finality

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    The U.S. Supreme Court's June opinion in BLOM Bank SAL v. Honickman reaffirmed that the bar for reopening a final judgment remains exceptionally high — even when the movant seeks to amend their complaint based on a new legal development, say attorneys at Venable.

  • Series

    Creating Botanical Art Makes Me A Better Lawyer

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    Pressing and framing plants that I grow has shown me that pursuing an endeavor that brings you joy can lead to surprising benefits for a legal career, including mental clarity, perspective and even a bit of humility, says Douglas Selph at Morris Manning.

  • Supreme Court's Criminal Law Decisions: The Term In Review

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    Though the U.S. Supreme Court’s criminal law decisions in its recently concluded term proved underwhelming by many measures, their opinions revealed trends in how the justices approach criminal cases and offered reminders for practitioners, says Kenneth Notter at MoloLamken.

  • Compliance Is A New Competitive Edge For Mortgage Lenders

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    So far, 2025 has introduced state and federal regulatory turbulence that is pressuring mortgage lenders to reevaluate the balance between competitive and compliant employee and customer recruiting practices, necessitating a compliance recalibration that prioritizes five key strategies, say attorneys at Mitchell Sandler.

  • Even As States Step Up, They Can't Fully Fill sa¹ú¼Ê´«Ã½'s Shoes

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    The Trump administration's efforts to scale down the Consumer Financial Protection Bureau have prompted calls for state regulators to pick up the slack, but there are also important limitations on states' ability to fill the gap left by a mostly dormant sa¹ú¼Ê´«Ã½, say attorneys at Covington.

  • Opinion

    The Legal Education Status Quo Is No Longer Tenable

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    As underscored by the fallout from California’s February bar exam, legal education and licensure are tethered to outdated systems, and the industry must implement several key reforms to remain relevant and responsive to 21st century legal needs, says Matthew Nehmer at The Colleges of Law.

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