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Banking

  • October 09, 2025

    Fintech Exec May Claim Double Jeopardy Amid Judge Shuffle

    A former executive of payment processor Allied Wallet has filed a double jeopardy motion after the initial Massachusetts federal judge overseeing the fraud case recused himself, a second declared a mistrial and exited due to a family emergency, and a third flagged a potential conflict with a prosecutor.

  • October 08, 2025

    Ex-AI Chief Says US Bank Can't Dodge Race Bias Claims

    The former head of U.S. Bank's artificial intelligence efforts says he looped in the Equal Employment Opportunity Commission within the required time frame before suing the bank for discrimination, telling a North Carolina federal judge not to toss his claims.

  • October 08, 2025

    Golf Execs Deny Discrediting Jack Nicklaus In NY Lawsuit

    Two executives with the company named after Jack Nicklaus testified in Florida state court on Wednesday that they played no role in providing defamatory statements in a New York lawsuit against the golf legend, denying that they also forwarded false claims to reporters and were involved with filing the complaint.

  • October 08, 2025

    Big Banks' Gain Could Be Small Banks' Pain, Fed's Barr Says

    Federal regulators' plans to ease capital rules and other supervisory safeguards at big banks may jeopardize financial stability and leave community banks to pick up the pieces if something goes wrong, Federal Reserve Gov. Michael Barr warned in a speech Wednesday.

  • October 08, 2025

    5th Circ. Wary Of TitleMax Affiliate's Aim To Skip Usury Case

    A Fifth Circuit panel appears skeptical of a TitleMax affiliate's argument that it should get to escape the Pennsylvania Department of Banking and Securities usury case alleging the affiliate breached state law, saying Wednesday the proceedings looked like typical state police power.

  • October 08, 2025

    North Dakota To Issue Stablecoin Through State-Owned Bank

    North Dakota on Wednesday announced plans to issue its own stable-value token through a partnership between fintech Fiserv Inc. and the state-owned Bank of North Dakota.

  • October 08, 2025

    Exxon Retail Voting Program Green Light Inspires Other Cos.

    The U.S. Securities and Exchange Commission's recent green light of Exxon Mobil Corp.'s program to enable automated proxy voting for retail investors has sparked interest among other firms exploring implementing their own such programs, as the oil and gas giant moves to counter activist groups.

  • October 08, 2025

    3rd Circ. Upholds Ruling In Debt Collector's Trade Secrets Suit

    A Third Circuit let stand a ruling that work passwords are not trade secrets and that the Computer Fraud and Abuse Act is inapplicable to workplace policy violations in an appeal from a debt collection company suing two former employees.

  • October 08, 2025

    Gov't Shutdown Essentially 'Freezes' IPO Market, Attys Say

    While the U.S. Securities and Exchange Commission technically remains open during the ongoing government shutdown that has now exceeded one week, staffing shortages have made it increasingly difficult for companies to launch initial public offerings, leaving them with few options.

  • October 08, 2025

    AFL-CIO Opposes Draft Senate Crypto Bill

    A major labor organization, the AFL-CIO, has come out against a Republican draft bill on crypto market structure, saying the draft lacks "meaningful safeguards."

  • October 08, 2025

    Trump Admin Cites Shutdown In Bid For sa¹ú¼Ê´«Ã½ Case Delay

    Amid growing calls for the full D.C. Circuit to revisit a recent panel ruling that would allow mass layoffs at the Consumer Financial Protection Bureau, the Trump administration is asking for a pause in the case until after the government shutdown is over.

  • October 08, 2025

    Democracy Forward Hires Ex-White House Lawyer, sa¹ú¼Ê´«Ã½ Atty

    Democracy Forward, the quickly growing progressive nonprofit that has taken on more than 85 actions against the Trump administration, has hired four more attorneys to its expanding team of lawyers, including a former member of Joe Biden's White House Counsel's Office and a litigator from the Consumer Financial Protection Bureau.

  • October 07, 2025

    11th Circ. Wary Of IRS Procedure In FBAR Penalty Appeal

    An Eleventh Circuit panel Tuesday appeared concerned about IRS procedures that could keep a man from recouping $419,000 he paid to resolve his failure to disclose funds held in foreign bank accounts as he appeals a district court determination that he actually owes $2.2 million.

  • October 07, 2025

    Wine Co. Exec Cops To Wire Fraud Conspiracy In $99M Scam

    A United Kingdom wine company executive pled guilty to wire fraud conspiracy in New York federal court Tuesday in a criminal case accusing him of scamming investors out of $99 million after persuading them to make loans using wine collections as collateral.

  • October 07, 2025

    Ex-Prisoners Push Back On Bid To Decertify Debit Card Class

    Former prisoners accusing Central Bank of Kansas City of charging excessive fees on prepaid debit cards have pushed back on the bank's effort to undo their certified class, arguing they were subject to a "uniform pattern of conduct" that forced them to accept the cards.

  • October 07, 2025

    Mortgage Giants Shared Data To Fix Rates, Homeowners Say

    A proposed class of homeowners has launched a sweeping class action against Rocket Mortgage, Wells Fargo, JPMorgan Chase and more than two dozen other mortgage lenders, accusing them of conspiring through Optimal Blue's pricing software to secretly share sensitive data and fix mortgage rates nationwide, allegedly inflating costs and deepening the U.S. housing affordability crisis.

  • October 07, 2025

    Bank's Ex-Compliance Chief Sues Over 'Bad Faith' Termination

    A Florida community bank has been sued in New Jersey federal court by its former chief risk and compliance officer, who claims that he was fired without cause just months after signing a three-year contract with the bank at a $250,000 annual salary.

  • October 07, 2025

    Feds Seek 6 Years For Ex-Frank Exec's 'Brazen' $175M Con

    Prosecutors asked a New York federal judge Monday to sentence a former executive at financial aid startup Frank to six years in prison for helping its founder Charlie Javice trick JPMorgan Chase & Co. into buying the company for $175 million, saying he deserves no leniency for the "brazen" fraud.

  • October 07, 2025

    Title Insurer Fights Mortgage Lender's Fraud Claim

    A title insurer has no duty to pay a mortgage lender's claim over a $510,000 loan a borrower alleged was fraudulent, it told a North Carolina federal court, saying its closing protection letter explicitly excludes coverage for third-party fraud and that no policy was ever issued.

  • October 07, 2025

    Arnold & Porter Finance Leader Joins Seyfarth With 2 Peers

    Seyfarth Shaw LLP announced Tuesday that it has hired the former chair of Arnold & Porter Kaye Scholer LLP's structured finance and derivatives practice to co-lead its structured finance team, as well as two of his colleagues.

  • October 07, 2025

    SEC's Atkins Wants To 'Future-Proof' Deregulatory Agenda

    U.S. Securities and Exchange Commission Chairman Paul Atkins said Tuesday that he hopes that moving quickly to adopt new rules deregulating the public and private markets will "future-proof" his agenda against potential tampering by succeeding presidential administrations.

  • October 07, 2025

    FDIC, OCC Rule Proposals Seek To Rein In Bank Supervision

    Federal banking regulators on Tuesday unveiled a pair of proposed curbs on their supervision programs that would formally ban the use of reputation risk as an exam factor and constrain what examiners can call out for criticism as an "unsafe or unsound" practice.

  • October 06, 2025

    Supreme Court Won't Review Russian Bank Jet Crash Suit

    The U.S. Supreme Court on Monday declined to undo a precedential Second Circuit decision finding that Sberbank of Russia must face Anti-Terrorism Act litigation related to the 2014 downing of a commercial airliner over eastern Ukraine, rejecting the bank's argument it is entitled to sovereign immunity.

  • October 06, 2025

    OCC To Ease Exams, Simplify Licensing For Smaller Banks

    The Office of the Comptroller of the Currency moved Monday to ease its oversight of banks with under $30 billion in assets, rolling out policy changes that include cutting back on their exam requirements and potentially expanding their access to expedited licensing options.

  • October 06, 2025

    FINRA Fines Ga. Broker-Dealer After Reps Forged Signatures

    The broker-dealer unit of Synovus Financial Corp. will pay $315,000 to settle Financial Industry Regulatory Authority claims that a records review oversight prevented the firm from spotting an emerging "pattern of forging and falsifying customer electronic signatures" at one of its branches.

Expert Analysis

  • 2 NY Cases May Clarify Foreclosure Law Retroactivity

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    Two pending cases may soon provide the long-awaited resolution to the question of whether retroactive application of the New York Foreclosure Abuse Prevention Act violates the state Constitution, providing a guide for New York courts inundated with motions in foreclosure and quiet title actions, says Fernando Rivera Maissonet at Hinshaw & Culbertson.

  • Series

    Law School's Missed Lessons: Navigating Client Trauma

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    Law schools don't train students to handle repeated exposure to clients' traumatic experiences, but for litigators practicing in areas like civil rights and personal injury, success depends on the ability to view cases clinically and to recognize when you may need to seek help, says Katie Bennett at Robins Kaplan.

  • What To Expect As UK, US Gov'ts Develop Stablecoin Policies

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    While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.

  • Series

    Texas Banking Brief: All The Notable Legal Updates In Q2

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    In the second quarter of 2025, the Texas Business Court's newly expanded jurisdiction set the stage for rising caseloads, while the state Legislature narrowed an exception to state bank control requirements and closed a cryptocurrency dividends payments loophole, say attorneys at Mayer Brown.

  • Yacht Broker Case Highlights Industry Groups' Antitrust Risk

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    The Eleventh Circuit recently revived class claims against the International Yacht Brokers Association, signaling that commission-driven industries beyond real estate are vulnerable to antitrust challenges after the National Association of Realtors settled similar allegations last year, says Miles Santiago at the Southern University Law Center and Alex Hebert at Southern Compass.

  • Opinion

    4 Former Justices Would Likely Frown On Litigation Funding

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    As courts increasingly confront cases involving hidden litigation finance contracts, the jurisprudence of four former U.S. Supreme Court justices establishes a constitutional framework that risks erosion by undisclosed financial interests, says Roland Eisenhuth at the American Property Casualty Insurance Association.

  • Congress Crypto Movement Could Bring CFTC 'Clarity' At Last

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    The Clarity Act's arrival at the House floor during "Crypto Week" in Congress demonstrates enduring bipartisan support for legislation addressing digital assets and the Commodity Futures Trading Commission's important role in a future regulatory structure, say attorneys at DLA Piper.

  • Stablecoin Bills Present Opportunities, Challenges For Banks

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    Stablecoin legislation that Congress is expected to adopt in the coming weeks — the GENIUS and STABLE Acts — would create openings for banks to engage in digital asset activities, but it also creates a platform for certain tech-savvy nonbanks to directly compete, say attorneys at Arnold & Porter.

  • How Attys Can Use AI To Surface Narratives In E-Discovery

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    E-discovery has reached a turning point where document review is no longer just about procedural tasks like identifying relevance and redacting privilege — rather, generative artificial intelligence tools now allow attorneys to draw connections, extract meaning and tell a coherent story, says Rose Jones at Hilgers Graben.

  • Opinion

    GENIUS Act Could Muck Up Insolvency Proceedings

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    While some of the so-called GENIUS Act's insolvency provisions are straightforward, others run the risk of jeopardizing the success of stablecoin issuers' insolvency proceedings and warrant another look from Congress, say attorneys at Morgan Lewis.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q2

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    The second quarter saw California become a more active protector of consumers in response to federal regulatory pullback, with regulators proposing a licensing framework for digital asset businesses, ending an enforcement exemption and otherwise signaling further expansions of oversight and enforcement, say attorneys at Stinson.

  • Series

    Georgia Banking Brief: All The Notable Legal Updates In Q2

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    The second quarter brought a number of significant legislative and regulatory changes for Georgia banking, including an extension of the intangibles tax exemption for short-term notes, modernization of routine regulatory practices, and new guardrails against mortgage trigger leads, says Walter Jones at Balch & Bingham.

  • Capital One Deal Approval Lights Up Path For Bank M&A

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    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.

  • Series

    Playing The Violin Makes Me A Better Lawyer

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    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.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q2

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    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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