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Banking

  • 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.

  • October 16, 2025

    sa¹ú¼Ê´«Ã½ Ends Citi Order Over Armenian Discrimination Claims

    The Consumer Financial Protection Bureau has agreed to drop its case accusing Citibank NA of intentionally and systematically discriminating against retail-branded credit card applicants with Armenian-looking last names, according to an order filed Thursday.

  • October 16, 2025

    Why Ethics Complaints Against Halligan Face 'Very High Bar'

    Interim U.S. Attorney Lindsey Halligan for the Eastern District of Virginia could face bar disciplinary action or court sanctions if the prosecutions she's pursuing at President Donald Trump's behest are found to be politically motivated or baseless, although proving ethics allegations will be an uphill battle, experts say.

  • October 16, 2025

    Jack Nicklaus Tells Jury He Wanted 'Freedom' Back After Pact

    Golf legend Jack Nicklaus told a Florida jury on Thursday that he filed for an arbitration in Miami to reclaim his intellectual property after parting ways with the company named after him, but added the chairman "did not want to give me my freedom." 

Expert Analysis

  • Series

    Adapting To Private Practice: From ATF Director To BigLaw

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    As a two-time boomerang partner, returning to BigLaw after stints as a U.S. attorney and the director of the Bureau of Alcohol, Tobacco, Firearms and Explosives, people ask me how I know when to move on, but there’s no single answer — just clearly set your priorities, says Steven Dettelbach at BakerHostetler.

  • What To Know As SEC Looks To Expand Private Fund Access

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    As the U.S. Securities and Exchange Commission considers expanding retail access to private markets, understanding how these funds operate — and the role of financial intermediaries in guiding investors — is increasingly important, say attorneys at K&L Gates.

  • New DOJ Penalty Policy Could Spell Trouble For Cos.

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    In light of the U.S. Department of Justice’s recently published guidance making victim relief a core condition of coordinated resolution crediting, companies facing parallel investigations must carefully calibrate their negotiation strategies to minimize the risk of duplicative penalties, say attorneys at Debevoise.

  • Influencer Marketing Partnerships Face Rising Litigation Risk

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    In light of recent class actions claiming that brands and influencers are misleading consumers with deceptive marketing practices — largely premised on the Federal Trade Commission's endorsements guidance — proactive compliance measures are becoming more important, say attorneys at Olshan Frome.

  • 5 Consumer Protection Compliance Issues In NY State Budget

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    Companies that engage with New York consumers should promptly familiarize themselves with new state budget provisions that require finance and retail companies to make certain business practices more transparent and easier for customers to execute, say attorneys at Mintz.

  • Open Banking Is On Ice As sa¹ú¼Ê´«Ã½ Seeks To Toss Its Own Rule

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    Even as the Consumer Financial Protection Bureau's efforts to toss its open banking rule play out in Kentucky federal court, it remains statutorily required to effectuate consumer access to data, raising questions about how it would replace the previously finalized standard, say attorneys at Cooley.

  • SEC, FINRA Obligations In Changing AI Regulatory Landscape

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    Despite the U.S. Securities and Exchange Commission's recent withdrawal of its proposed artificial intelligence conflict rules, financial regulators remain focused on firms developing the correct AI compliance framework, as well as continuously testing and supervising them to ensure they're fit for purpose, say attorneys at Cahill Gordon.

  • Series

    Playing Baseball Makes Me A Better Lawyer

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    Playing baseball in college, and now Wiffle ball in a local league, has taught me that teamwork, mental endurance and emotional intelligence are not only important to success in the sport, but also to success as a trial attorney, says Kevan Dorsey at Swift Currie.

  • How US Cos. Should Prep For Brazil's Int'l Data Transfer Rules

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    Brazil's National Data Protection Authority's new rules concerning the processing and storing of Brazilians' personal data carry significant reputational risks for the e-commerce, financial services, education and health sectors, so U.S. companies with business in Brazil should prepare ahead of the Aug. 23 compliance date, says Juliane Chaves Ferreira at Guimarães & Vieira de Mello.

  • Roundup

    Ohio Banking Brief

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    In this Expert Analysis series, attorneys provide quarterly recaps discussing the biggest developments in Ohio banking regulation and policymaking.

  • Wells Fargo Suit Shows Consumer Protection Limits In Mass.

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    The Massachusetts Appeals Court's May decision in Wells Fargo Bank v. Coulsey underscores that consumer rights are balanced against the need for closure, and even the broad protections of state consumer protection law will not open the door to relitigating the same claims, say attorneys at Greenberg Traurig.

  • Series

    Ohio Banking Brief: All The Notable Legal Updates In Q2

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    Ohio's financial services sector saw several significant developments in the second quarter of 2025, including a case that confirmed credit unions' setoff rights, another that established contract rights between banks and cardholders, and the House passage of a digital asset bill, say attorneys at Frost Brown.

  • Managing Risks As State AGs Seek To Fill Enforcement Gap

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    Given an unprecedented surge in state attorney general activity resulting from significant shifts in federal enforcement priorities, companies must consider tailored strategies for navigating the ever-evolving risk landscape, say attorneys at Cozen O'Connor.

  • Series

    Law School's Missed Lessons: Skillful Persuasion

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    In many ways, law school teaches us how to argue, but when the ultimate goal is to get your client what they want, being persuasive through preparation and humility is the more likely key to success, says Michael Friedland at Friedland Cianfrani.

  • Special Committees Gain Traction In Chapter 11 Investigations

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    Tara Pakrouh at Morris James discusses why special committees are becoming more common in Chapter 11 bankruptcies, how they've been used in real cases and what makes them effective.

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