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Banking

  • July 24, 2025

    NCUA Board Members 'Glad To Be Back' Amid Trump Fight

    The National Credit Union Administration officials who were ousted this spring by President Donald Trump took part Thursday in their first board meeting since a federal judge reinstated them just two days earlier, even as the court fight for their jobs continues.

  • July 24, 2025

    Feds Can't End Bank Oversight After $3M Redlining Deal

    A Pennsylvania federal judge has rejected the government's bid to release a bank it previously accused of discriminatory lending from court oversight, holding that continued enforcement was "essential" to make sure the terms of a settlement resolving the allegations were adhered to.

  • July 24, 2025

    Bets On Atty's Lien Biz Lost Millions, Investor Tells Jury

    A seasoned investor told a Manhattan federal jury Thursday that he heavily backed a tax-lien fund controlled by a lawyer now accused of fraud, ultimately losing $2.9 million in supposedly low-risk bets where such losses were "not supposed to be possible."

  • July 24, 2025

    Alston & Bird Expands West Coast Reach With LA Funds Atty

    Alston & Bird LLP has hired a former Greenberg Traurig LLP shareholder with in-house investment firm experience as an investment funds partner in Los Angeles.

  • July 24, 2025

    Holland & Knight Hires Longtime Choate Leader In Boston

    A financing and restructuring partner at Choate Hall & Stewart LLP, who spent nearly his entire career spanning more than 30 years with that firm and led its business department for almost two decades, has moved his practice to Holland & Knight's Boston office.

  • July 24, 2025

    Ukrainian State-Owned Bank Targets Russia In New Claim

    State-owned Oschadbank said Thursday it has taken the first steps to initiate arbitration against Russia over the loss of its assets in the southern and eastern regions of Ukraine, citing the Kremlin's "gross violations" of international law.

  • July 23, 2025

    Navy Federal Inks $1.7M Deal Over Rejected Fraud Claims

    Customers of Navy Federal Credit Union have asked a California judge to give an initial nod to a proposed $1.7 million deal ending class action claims the credit union "mechanically" rejected fraud claims after they saw accounts drained of funds by unauthorized users.

  • July 23, 2025

    sa¹ú¼Ê´«Ã½ Sued Over Retreat From Biden-Era Small-Biz Loan Rule

    The Consumer Financial Protection Bureau was sued Wednesday in Washington, D.C., federal court over claims it is illegally dismantling a data-collection rule meant to expose discrimination in small-business lending, the latest twist in multi-front litigation over the Biden-era measure.

  • July 23, 2025

    Fla. Man Gets 5 Years In Jail For Hiding Swiss Bank Accounts

    A Florida federal judge on Wednesday sentenced a Miami man to five years in prison on a conspiracy-related count in connection with evading taxes on approximately $20 million he held in Swiss bank accounts and setting up trusts in an attempt to hide assets.

  • July 23, 2025

    Trump Admin Appeals Ruling On NCUA Board Member Firings

    The Trump administration has asked a Washington, D.C., federal judge to pause a ruling reinstating two ousted Democratic members of the National Credit Union Administration board, arguing the decision represents an "extraordinary intrusion" into presidential power and is being swiftly appealed.

  • July 23, 2025

    Wells Fargo Gets Partial Early Win In Processing Servicer Suit

    A Tennessee federal judge has granted a partial early win to Wells Fargo and a merchant services provider in a breach of contract suit brought by so-called independent sales organization TX Direct, finding that the contract between the parties had already been terminated when TX Direct was allegedly locked out of a merchant onboarding portal.

  • July 23, 2025

    PREPA Bondholders Say Utility Swiped $2.9 Billion

    The electric utility for Puerto Rico on Wednesday defended itself in New York bankruptcy court from allegations that it had improperly spent its revenues, which the bondholders claim as collateral for $8.5 billion worth of bonds.

  • July 23, 2025

    9th Circ. Revives Barrett Business Services' Secrets Case

    The Ninth Circuit has reinstated Barrett Business Services Inc.'s claims of trade secret theft against two former employees, their wives and a competing company they started.

  • July 23, 2025

    DC Co. Sues Société Générale Over $29M Loan Deal

    A District of Columbia property owner has accused Société Générale Financial Corp. in D.C. federal court of violating an agreement related to a $29 million refinancing loan when the bank corporation refused to fund the loan after realizing that it couldn't find a favorable secondary market buyer for the loan.

  • July 23, 2025

    Unlicensed $1M Crypto Exchange Operator Pleads Guilty

    A 56-year-old Connecticut man has pled guilty to charging fees for swapping more than $1 million in cash, checks and money orders for cryptocurrency at a West Haven business that didn't obtain a license from the state banking commissioner.

  • July 23, 2025

    US Says It's Immune In Booz Allen Worker Tax Info Leak Suit

    A proposed class action seeking to hold the federal government and its contractor Booz Allen Hamilton responsible for a leak of thousands of wealthy people's tax returns, including President Donald Trump's, cannot move forward against the U.S., the government argued Wednesday, saying it's immune from the suit.

  • July 23, 2025

    Ex-Real Estate Finance Pro Tapped For OCC Chief Of Staff

    President Donald Trump's top national bank regulator has hired a new chief of staff, bringing on a former federal housing finance official from the private sector to help steer policy coordination and internal operations at the Office of the Comptroller of the Currency, the agency said Wednesday.

  • July 23, 2025

    CFTC Settles With Puerto Rico-Based Gas Futures Trader

    The Commodity Futures Trading Commission and a Puerto Rico-based natural gas futures trader on Wednesday announced that they had reached a settlement, ending the agency's suit alleging that the trader used nonpublic information to make profitable energy trades.

  • July 23, 2025

    NY Finance Atty Joins Proskauer From A&O Shearman

    Proskauer Rose LLP announced that an experienced finance attorney who's spent over 20 years primarily working on collateralized loan obligations has joined the firm's New York office from Allen Overy Shearman Sterling.

  • July 23, 2025

    Bradley Arant Taps Arnall Golden Fintech Pro In Atlanta

    Bradley Arant Boult Cummings LLP has added a former Arnall Golden Gregory LLP attorney as a partner in the firm's banking and financial services group to extend its Atlanta team counseling technology companies.

  • July 23, 2025

    Feds Launch Forfeiture Suit For $7M In Fraud-Linked Crypto

    The acting U.S. attorney for the Western District of Washington said she is pushing for the forfeiture of about $7 million in cryptocurrency assets seized as part of an investigation into an oil and gas investment fraud scheme.

  • July 23, 2025

    Jones Day Guides Corpay On $2.2B Alpha Group Acquisition

    Jones Day-advised Corpay Inc. said Wednesday it has agreed to acquire Alpha Group International PLC in a deal that values the U.K.-based foreign exchange platform at approximately $2.2 billion (£1.6 billion), following a months-long courtship that included the rejection of a prior Corpay offer. 

  • July 22, 2025

    Trump's NCUA Board Member Firings Were Illegal, Judge Says

    A D.C. federal judge on Tuesday held that President Donald Trump broke the law when he fired two Democratic credit union regulators, finding that the members must remain on the National Credit Union Administration's board and can only be removed before their terms are up for cause.

  • July 22, 2025

    Chime Facing Class Suit In Wash. Over 'Refer-A-Friend' Texts

    Online banking company Chime has been breaking a Washington state ban on unsolicited texts by encouraging customers to send "refer a friend" messages in order to expand its reach, according to a new proposed class action.

  • July 22, 2025

    Basel Exit Could Hurt US Influence, Experts Warn At Fed Event

    Banking industry experts warned Tuesday that the U.S. risks undermining its global influence and keeping bank capital costs elevated if it doesn't implement some form of the so-called Basel III endgame, with one former Federal Reserve official likening the prospect of such a retreat to the "Peanuts" gag of Lucy yanking the football from Charlie Brown.

Expert Analysis

  • 9th Circ. Has Muddied Waters Of Article III Pleading Standard

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    District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.

  • Series

    Competing In Modern Pentathlon Makes Me A Better Lawyer

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    Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.

  • Shifting DEI Expectations Put Banks In Legal Crosshairs

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    The Trump administration's rollbacks on DEI-friendly policies create something of a regulatory catch-22 for banks, wherein strict compliance would contradict established statutory and administrative mandates regarding access to credit for disadvantaged communities, say attorneys at Husch Blackwell.

  • Atkins' Crypto Remarks Show SEC Is Headed For A 'New Day'

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    A look at U.S. Securities and Exchange Commission Chairman Paul Atkins' recent speeches provides significant clues as to where the SEC is going next and how its regulatory approach to crypto will differ from that of the previous administration, say attorneys at Eversheds Sutherland.

  • DOJ Memo Lays Groundwork For Healthy Bank Sponsorships

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    The U.S. Department of Justice's recent digital asset policy shift offers potential clarity in the murky waters of sponsor bank relationships, presenting nontraditional financial companies with both a moment of opportunity and a test of maturity, say attorneys at Arnall Golden.

  • Series

    Law School's Missed Lessons: Teaching Yourself Legal Tech

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    New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.

  • In 2nd Term, Trump Has New Iran Sanctions Enforcement Tool

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    As tensions between the U.S. and Iran escalate, the Trump administration may use a whistleblower program enacted in 2022 to target violations that were previously more difficult to detect, thus expanding enforcement of economic sanctions, say attorneys at MoloLamken and Zuckerman Law.

  • How AI May Reshape The Future Of Adjudication

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    As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.

  • What Money Transmitters Need To Know About New Colo. Law

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    Colorado's new Money Transmission Modernization Act updates standards for the licensing, supervision and regulation of money transmitters while codifying an agent-to-payee exemption, and represents another step toward standardizing these rules across state governments, say Sarah Auchterlonie and Joel Herberman at Brownstein Hyatt.

  • When Legal Advocacy Crosses The Line Into Incivility

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    As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.

  • Two Bills Promise A Crypto Revamp, But Not A Done Deal Yet

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    Recent efforts in Congress toward an updated regulatory framework for digital assets have led to two bills — the GENIUS Act and the CLARITY Act — that represent the most consequential legislative developments yet in the push for coherent, pro-innovation, reliable regulation for the industry, but both face multiple hurdles, says Mike Katz at Manatt.

  • 2 NY Rulings May Stem Foreign Co. Derivative Suits

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    In recent decades, shareholders have challenged the internal affairs doctrine by bringing a series of derivative actions in New York state court on behalf of foreign corporations, but the New York Court of Appeals' recent rulings in Ezrasons v. Rudd and Haussmann v. Baumann should slow that trend, say attorneys at Cleary.

  • Despite Rule Delay, FTC Scrutiny Looms For Subscriptions

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    Even though the Federal Trade Commission has delayed its click-to-cancel rule that introduces strict protocols for auto-renewing subscriptions, businesses should expect active enforcement of the new requirements after July, and look to the FTC's recent lawsuits against Uber and Cleo AI as warnings, say attorneys at Holland & Knight.

  • AGs Take Up Consumer Protection Mantle Amid sa¹ú¼Ê´«Ã½ Cuts

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    State attorneys general are stepping up to fill the enforcement gap as the Trump administration restructures the Consumer Financial Protection Bureau, creating a new regulatory dynamic that companies must closely monitor as oversight shifts toward states, say attorneys at Cozen O’Connor.

  • Va.'s Altered Surcharge Law Poses Constitutional Questions

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    Virginia's recently amended consumer protection law requiring sellers to display the total price rather than expressly prohibiting surcharges follows New York's recent revision of its antisurcharge statute and may raise similar First Amendment questions, says attorneys at Stinson.

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