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									September 23, 2025
									Experian Beats Credit Investigation Suit, For NowExperian beat a proposed class action alleging it failed to timely reinvestigate disputed information in a plaintiff's file that kept him from securing a property mortgage loan, a North Carolina federal judge said Tuesday, finding that the plaintiff lacked standing and couldn't fairly trace his injury to the delay in reinvestigation. 
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									September 23, 2025
									Banks Urge SEC To Hold Crypto Custody To Same StandardsFinancial services trade groups have cautioned the U.S. Securities and Exchange Commission against broadly permitting investment advisers and state-chartered trust companies to safeguard customer's cryptocurrency assets, urging the agency to maintain equal standards for all financial custodians amid planned crypto rulemaking. 
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									September 23, 2025
									CFTC Seeks Feedback On The Use Of Crypto CollateralThe U.S. Commodity Futures Trading Commission launched an initiative on Tuesday to enable the use of certain crypto assets as collateral in derivatives markets, soliciting industry suggestions on potential pilot programs, amendments to regulations and relevant issues. 
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									September 23, 2025
									Ex-Discover Financial Exec Can Pursue Equity Clawback SuitAn Illinois federal judge has rejected a bid to toss a retired Discover Financial Services executive's age and gender discrimination lawsuit, finding she has sufficiently alleged at this point that she faced disparate treatment tied to her sex and that Discover's arguments against her age discrimination claim don't hold weight. 
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									September 23, 2025
									Hedge Funds Call For CFTC To End Dual RegistrationA group representing the hedge fund industry is calling on the U.S. Commodity Futures Trading Commission to drop the need for industry participants to submit to agency oversight in cases where fund managers are already registered with the U.S. Securities and Exchange Commission, calling the dual registration requirement "costly" and "inefficient." 
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									September 23, 2025
									sa¹ú¼Ê´«Ã½ Frees Apple, US Bank From Biden-Era Consent OrdersThe Consumer Financial Protection Bureau has lifted two more enforcement orders issued during the Biden administration, this time granting both Apple Inc. and U.S. Bank NA an early release from ongoing monitoring years ahead of schedule. 
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									September 23, 2025
									DHS Floats H-1B Rule To Prioritize Higher-Paid WorkersThe Trump administration proposed a rule on Tuesday to change the H-1B lottery process to one that gives priority to higher-skilled workers at companies offering better pay, according to a Federal Register notice. 
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									September 23, 2025
									Chair Of Puerto Rican Bank Pleads Guilty To $13.6M FraudThe chairman of the board of Puerto Rico-based Nodus International Bank has pled guilty to leading a scheme through which he and the bank's former CEO stole more than $13.6 million from Nodus and used it for their own benefit. 
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									September 23, 2025
									Cantor Fitzgerald, Citibank Hit With Trading Patent SuitsSeveral financial services businesses, including Citibank and Secretary of Commerce Howard Lutnick's former firm Cantor Fitzgerald, have been sued in New York and Texas federal court over their alleged infringement of a trading patent. 
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									September 23, 2025
									Wilmington Trust Seeks Receiver After $19M Loan DefaultA single-asset real estate firm that owns an office building in the Denver Technological Center, or DTC, filed for Chapter 11 and faces a request for a receiver over the building it owns after it defaulted on a $19 million loan last year, according to court filings. 
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									September 23, 2025
									LPL Financial Nabs Ex-AUSA, Eversheds Investigations HeadLPL Financial has hired a former Manhattan federal prosecutor as head of litigation and arbitration following her time as co-leader of Eversheds Sutherland's corporate crime and investigations practice. 
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									September 23, 2025
									Climate Transition-Focused SPAC Plans For $150M IPOSpecial purpose acquisition company Climate Transition Special Opportunities SPAC I has filed plans with U.S. regulators to raise up to $150 million in its initial public offering, with the goal of acquiring a company in the renewable energy or specialty finance space. 
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									September 23, 2025
									1st Circ. Won't Let Citizens Bank Escape Escrow Interest SuitThe First Circuit has revived a proposed class action accusing Citizens Bank of violating Rhode Island law by not making interest payments for mortgage escrow accounts, ruling the action must be reinstated in part because of a U.S. Supreme Court decision handed down after the case was dismissed. 
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									September 22, 2025
									Ex-Joseph Gunnar Broker Cops To $1M Insider Trading SchemeA former Joseph Gunnar & Co. broker Monday admitted to his role in what prosecutors say was a scheme to use confidential information about upcoming secondary stock offerings to make over $1 million in illicit profits. 
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									September 22, 2025
									Davis Polk, Goodwin Guide $675M Bitcoin Treasury MergerStrive Inc. announced Monday that it plans to purchase $675 million worth of bitcoin and acquire Semler Scientific Inc. in an all-stock transaction in a deal guided by Davis Polk & Wardwell LLP and Goodwin Procter LLP. 
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									September 22, 2025
									$100K H-1B Fee Will Likely Hurt Both US And Foreign WorkersThe new $100,000 fee for H-1B visas, which took effect on Sunday with little advance notice, blindsided immigration attorneys who told Law360 that it could ultimately hurt domestic workers by driving U.S. companies to do business elsewhere. 
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									September 22, 2025
									SEC Sues NC Man For 'Free-Riding' Securities SchemeA North Carolina man faces U.S. Securities and Exchange Commission allegations that he systematically gamed certain broker-dealers to engage in a so-called free-riding scheme that enabled him to trade nearly $900,000 worth of securities despite not actually possessing the funds to do so. 
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									September 22, 2025
									Judge Blocks New Claims In BNY Mellon Self-Dealing SuitA pair of investors with the Bank of New York Mellon can't use an amended complaint to raise a relatively new theory of liability against the bank nearly five years after filing their original suit, a Pennsylvania federal judge ruled Monday. 
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									September 22, 2025
									UK, US To Collaborate On Capital Markets, Crypto PolicyThe U.S. Department of the Treasury and the United Kingdom's financial ministry on Monday announced the formation of a joint taskforce to explore ways to collaborate on digital asset policy and "improve links" between the two countries' capital markets. 
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									September 22, 2025
									Fifth Third Can Keep $30M In Escrow Fight, Judge RulesA New York federal judge has sided with Fifth Third Bank in a $30 million escrow fight, finding its claim notice over alleged "platform fee" violations was timely and valid, in a ruling that will require the suing private equity seller to return $10 million that was already released. 
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									September 22, 2025
									Catching Up With Delaware's Chancery CourtLast week, Match.com secured approval for a $30M settlement over its 2019 reverse spinoff from IAC, and Vice Chancellor Morgan T. Zurn urged decorum among Delaware lawyers, comparing recent legal turmoil to dark times in British monarchy history. Here's the latest from the Chancery Court. 
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									September 22, 2025
									Experian Asks 4th Circ. To Reverse Arb. Ruling In FCRA SuitConsumer reporting agency Experian has asked the Fourth Circuit to overturn a lower court's decision concerning the arbitration of a lawsuit brought by a consumer falsely reported as dead, saying the judge was wrong not to enforce clauses in the consumer's agreement that delegated such decisions to an arbitrator. 
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									September 22, 2025
									Amex Can't Push 'Illusory' Arbitration Over 'Anti-Steering' RuleA putative class of businesses does not have to arbitrate claims that American Express violated antitrust laws by effectively preventing merchants that accept credit cards from incentivizing customers to use lower-fee cards, after a Massachusetts federal court ruled it will not "close its eyes" to the "illusory" arbitration agreement. 
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									September 22, 2025
									Credit Union, Insurers End Embezzlement Coverage DisputeA credit union seeking coverage for $5.5 million in embezzled funds agreed to end a suit accusing its fidelity bond insurers of secretly amending policy language to avoid coverage for "virtually any catastrophic loss," according to a notice filed Monday in Georgia federal court. 
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									September 22, 2025
									Toy Company Eyes UBS Records Amid FINRA ArbitrationA toy company whose brands include Bratz dolls and Little Tikes has urged an Iowa federal judge to unseal records that it says will bolster its arbitration against UBS over claims that the global wealth manager wrongly advised the company to short-sell Tesla stock. 
Expert Analysis
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								Capital One Deal Approval Lights Up Path For Bank M&A  The federal banking regulators' recent approval of Capital One's acquisition of Discover signals the agencies' willingness to approve large transactions and a more favorable environment generally for bank mergers under the Trump administration, say attorneys at Arnold & Porter. 
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								Series Playing The Violin Makes Me A Better Lawyer  Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo. 
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								Series NY Banking Brief: All The Notable Legal Updates In Q2  In the second quarter of the year, New York utilized every available tool to fill gaps left by federal retrenchment from consumer finance issues, including sweeping updates to its consumer protection framework and notable amendments to cybersecurity rules, say attorneys at Steptoe. 
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								State, Fed Junk Fee Enforcement Shows No Signs Of Slowing  The Federal Trade Commission’s potent new rule targeting drip pricing, in addition to the growing patchwork of state consumer protection laws, suggest that enforcement and litigation targeting junk fees will likely continue to expand, says Etia Rottman Frand at Darrow AI. 
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								DOJ's 1st M&A Declination Shows Value Of Self-Disclosures  The U.S. Department of Justice's recent decision not to charge private equity firm White Deer Management — the first such declination under an M&A safe harbor policy announced last year — signals that even in high-priority national security matters, the DOJ looks highly upon voluntary self-disclosures, say attorneys at Perkins Coie. 
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								Series Law School's Missed Lessons: Practicing Self-Care  Law schools don’t teach the mental, physical and emotional health maintenance tools necessary to deal with the profession's many demands, but practicing self-care is an important key to success that can help to improve focus, manage stress and reduce burnout, says Rachel Leonard​​​​​​​ at MG+M. 
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								What Expanding Merchant Code Regs Mean For Processors.jpg)  Arkansas and South Dakota recently joined a host of other states that restrict payment processors' usage of merchant category codes with laws that include noteworthy prohibitions against maintaining registries of firearms owners, with ramifications for multistate payment systems, say attorneys at Mayer Brown. 
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								ABA Opinion Makes It A Bit Easier To Drop A 'Hot Potato'  The American Bar Association's recent ethics opinion clarifies when attorneys may terminate clients without good cause, though courts may still disqualify a lawyer who drops a client like a hot potato, so sending a closeout letter is always a best practice, say attorneys at Thompson Hine. 
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								3rd-Party Audit Tactics To Improve Export Control Compliance.jpg)  Companies should take a strategic approach to third-party audits in response to the Trump administration's ramp-up of export control enforcement with steps that strengthen their ability to identify the control weaknesses of distributors, dealers and resellers, say Michael Huneke at Hughes Hubbard, and John Rademacher and Abby Williams at Secretariat Advisors. 
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								A Look At Trump Admin's Shifting Strategies To Curtail sa¹ú¼Ê´«Ã½  The Trump administration has so far carried out its goal of minimizing the Consumer Financial Protection Bureau's authority and footprint via an individualized approach comprising rule rollbacks, litigation moves and administrative tools, say attorneys at Holland & Knight. 
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								Can Companies Add Tariffs Back To Earnings Calculations?  With the recent and continually evolving tariffs announced by the Trump administration, John Ryan at King & Spalding takes a detailed look at whether those new tariffs can be added back in calculating earnings before interest, taxes, depreciation and amortization — an important question that may greatly affect a company's compliance with its financial covenants. 
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								How Trump Admin Treasury Policies Are Reaching Banks  The Treasury Department has emerged as an important facilitator of the Trump administration's financial policies affecting banks, which are now facing deregulation domestically and the use of international economic authorities in cross-border trade and investment, say attorneys at Davis Polk. 
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								Series My Opera And Baseball Careers Make Me A Better Lawyer  Though participating in opera and the world of professional baseball often pulls me away from the office, my avocations improve my legal career by helping me perform under scrutiny, prioritize team success, and maintain joy and perspective at work, says Adam Unger at Herrick Feinstein. 
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								A Look At DOJ's Dropped Case Against Early Crypto Operator  The prosecution of an early crypto exchange operator over alleged unlicensed money transmission was recently dropped in Indiana federal court, showcasing that the U.S. Justice Department may be limiting the types of enforcement cases it will bring against digital asset firms, say attorneys at Greenberg Traurig. 
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								Policy Shifts Bring New Anti-Money Laundering Challenges  In the second half of 2025, the U.S. anti-money laundering regulatory landscape is poised for decisive shifts in enforcement priorities, compliance expectations and legislative developments — so investment advisers and other financial institutions should take steps to prepare for potential new obligations and areas of risk, say attorneys at Linklaters. 
