Banking

  • May 28, 2025

    Fintech Group Warns Remittance Tax Will Hurt Consumers

    The American Fintech Council sent a letter to members of Congress asking them to reconsider a proposed tax on remittances that is a part of the $3.8 trillion bill to extend and make permanent the Republican Party's 2017 tax overhaul law, also known as The One Big Beautiful Bill Act.

  • May 28, 2025

    FBI Misled Court In Russia Sanctions Probe, Judge Rules

    Federal prosecutors cannot use certain evidence to prove charges that a Russian bank executive dodged sanctions because an FBI agent "recklessly omitted material facts" from the related warrant application, a New York federal judge ruled.

  • May 28, 2025

    Share Control Key To Archegos Suits, 2nd Circ. Suggests

    Whether a raft of lawsuits can be restored against Goldman Sachs Group Inc. and Morgan Stanley & Co. LLC may depend in part on how the law defines and treats a controlling shareholder, a panel of the Second Circuit suggested Wednesday as a group of investors tried to save their securities fraud claims arising from the collapse of Archegos Capital Management LP.

  • May 28, 2025

    High Court's Bid To Save Fed Independence May Backfire

    The U.S. Supreme Court has signaled it may expand President Donald Trump's power to summarily fire independent agency officials while keeping the Federal Reserve in a league of its own, but legal experts say that carveout may still leave the central bank's independence on shaky ground.

  • May 28, 2025

    CFPB Energy Loan Rule An 'Unlawful Power Grab,' Suit Says

    Lenders that finance clean energy home improvement projects on Wednesday challenged a Biden-era rule that applies standard mortgage protections to loans where homeowners pay for such projects through property tax bills, saying the rule is unlawful and threatens to kill their business.

  • May 28, 2025

    Sens. Urge Treasury To Rescind Ownership Reporting Rule

    A bipartisan duo from the Senate Finance Committee has urged Treasury Secretary Scott Bessent to fully implement the Corporate Transparency Act, criticizing an interim final rule that exempts domestic businesses from contested reporting regulations.

  • May 28, 2025

    DOL Tells 5th Circ. It Will Craft New ESG Rule For 401(k) Plans

    The U.S. Department of Labor told the Fifth Circuit on Wednesday that it will launch new rulemaking and move "as expeditiously as possible" to replace Biden administration regulations on whether fiduciaries can consider issues like climate change and social justice when choosing retirement plan investments.

  • May 28, 2025

    2nd Circ. Backs Credit One Win In FCRA Investigation Suit

    The Second Circuit on Wednesday declined to revive a New York woman's lawsuit against Credit One Bank for allegedly failing to investigate identity theft claims against her mother, with a panel agreeing with the lower court that no reasonable investigation required under federal law conducted by the bank would have yielded different results.

  • May 28, 2025

    Ga. Bank Wins Appellate Review Of Claim Against Law Firm

    The Georgia Court of Appeals has agreed to review a dismissed portion of a bank's suit against law firm Stanley Esrey & Buckley LLP, after the bank argued it had sufficiently explained that it loaned millions of dollars to a woman who was later convicted of fraud based on the firm's "false assurances."

  • May 28, 2025

    Husch Blackwell Adds Burr & Forman Consumer Finance Pro

    Husch Blackwell LLP has expanded its consumer financial services team in Florida with the addition of a longtime Burr & Forman LLP consumer finance litigator.

  • May 27, 2025

    CFPB Nixes Snap Finance Suit In Latest Enforcement Cutback

    The Consumer Financial Protection Bureau on Tuesday permanently dropped its Utah federal lawsuit against Snap Finance, a lease-to-own fintech, adding to the list of Biden-era enforcement actions that the agency has walked away from under Trump-appointed leadership.

  • May 27, 2025

    Greenpeace Fights To Walk Back $666M Pipeline Verdict

    Greenpeace on Tuesday continued its post-trial attack on a $666 million defamation and property damage case against Dakota Access pipeline builder Energy Transfer, telling a North Dakota judge that a lack of evidence requires overturning numerous jury findings.

  • May 27, 2025

    Trump To Pardon 'Chrisley' Stars Convicted Of Tax Evasion

    President Donald Trump is planning to pardon reality TV stars Todd and Julie Chrisley, the Georgia duo sentenced to prison after being convicted of running a yearslong bank fraud scheme and dodging federal taxes, according to a post Tuesday on X by Trump's communications adviser.

  • May 27, 2025

    CFTC Member Speaks On Agency Exits: 'Not A Great Situation'

    Departing U.S. Commodity Futures Trading Commission member Christy Goldsmith Romero said Tuesday that a possible leadership void at the agency could do a "great disservice to regulation" at a time when Congress is thinking of handing the agency the keys to the cryptocurrency industry.

  • May 27, 2025

    Davis Polk-Led Stablecoin Giant Circle Eyes $600M IPO

    Venture-backed stablecoin issuer Circle Internet Group Inc. on Tuesday launched plans for an estimated $600 million initial public offering, represented by Davis Polk & Wardwell LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP, rekindling its IPO after a tariff-related pause.

  • May 27, 2025

    Mobile App Infringement Suit Against Bridgestone Dropped

    A New Jersey company and tire maker Bridgestone Americas Inc. on Tuesday jointly asked a Texas federal judge to dismiss a case in which Bridgestone was accused of using patented mobile device communication technology in its mobile app.

  • May 27, 2025

    Trump's Media Co. To Raise $2.5B For Bitcoin Purchase

    Trump Media & Technology Group Corp., the parent company of President Donald Trump's social media platform, said Tuesday it plans to raise $2.5 billion from institutional investors to buy bitcoin to create what it is calling a bitcoin treasury.

  • May 27, 2025

    Crypto Exec's IRS Privacy Appeal Tossed By 5th Circ.

    A cryptocurrency executive who sought to quash IRS summonses for his bank records must wait at least until the U.S. government decides whether to bring legal proceedings against him before he can appeal a ruling denying his request to block the agency's demands, the Fifth Circuit said Tuesday.

  • May 27, 2025

    Bank Groups Agree To Pause Of Fed Stress Test Suit

    Major banking trade groups and the board of governors of the U.S. Federal Reserve System came together to ask an Ohio federal judge to pause their dispute over the board's big bank stress test practices, telling the court that the trade groups' concerns are being addressed.

  • May 27, 2025

    Dollar Bank Yanks Funeral Home Loan Over Pet Accusations

    A Pittsburgh-area funeral director's alleged failure to disclose that he was facing criminal charges and civil suits over accusations that he mishandled the remains of customers' pets led Dollar Bank to declare that he and his companies now owe nearly $332,000 on a 2023 loan, according to a lawsuit filed in state court.

  • May 27, 2025

    High Court Passes On Axed $563M BMO Harris Ponzi Verdict

    The U.S. Supreme Court on Tuesday declined to review the Eighth Circuit's decision to strike down a $563 million jury verdict against BMO Harris NA over claims that a bank it acquired had aided and abetted Thomas J. Petters' multibillion-dollar Ponzi scheme.

  • May 23, 2025

    Law360 Reveals Titans Of The Plaintiffs Bar

    This past year, a handful of attorneys secured billions of dollars in settlements and judgments for both classes and individual plaintiffs against massive companies and organizations like Facebook, Dell, the National Association of Realtors, Johnson & Johnson, UFC and Credit Suisse, earning them recognition as Law360's Titans of the Plaintiffs Bar for 2025.

  • May 23, 2025

    CFPB Calls Open Banking Rule 'Unlawful' In Pivot Against It

    The Consumer Financial Protection Bureau signaled Friday that it will now seek to vacate its Biden-era open banking rule, siding with the banking industry in an ongoing legal challenge to the rule even as a major fintech industry group is pledging to keep defending it.

  • May 23, 2025

    SEC Cracks Door For Retail Entry Into Private Funds

    The U.S. Securities and Exchange Commission is exploring increasing retail access to private funds, marking one of several pivotal shifts the watchdog is considering that would widen public exposure to the vast but less regulated world of private markets.

  • May 23, 2025

    Banking Groups Want SEC To Pull Cyber Disclosure Mandates

    A group of banking trade associations has called on the U.S. Securities and Exchange Commission to rescind a Biden-era mandate requiring public companies to disclose certain cybersecurity incidents, arguing it increases companies' risk when they fall victim to cyberattacks.

Expert Analysis

  • Series

    Florida Banking Brief: All The Notable Legal Updates In Q1

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    The first quarter of 2025 saw the Trump administration's crypto-forward approach permeate the banking industry, including Florida banking institutions, and a Fourth District Court of Appeal decision provide a new precedent for borrower/lender standing, say attorneys at Kozyak Tropin.

  • A Cold War-Era History Lesson On Due Process

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    The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.

  • How Latin American Finance Markets May Shift Under Trump

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    Changes in the federal government are bringing profound implications for Latin American financial institutions and cross-border financing, including increased competition from U.S. banks, volatility in equity markets and stable green investor demand despite deregulation in the U.S., says David Contreiras Tyler at Womble Bond.

  • Series

    Improv Makes Me A Better Lawyer

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    Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.

  • How BigLaw Executive Orders May Affect Smaller Firms

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    Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.

  • Opinion

    Lawsuits Shouldn't Be Shadow Assets For Foreign Capital

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    Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.

  • How To Accelerate Your Post-Attorney Career Transition

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    Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.

  • 3 Action Items For Innovators Amid Fintech Regulatory Pivot

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    As the federal banking agencies seek to smooth the way for banks to engage in crypto-related activities, banks and technology companies should take note of this new chapter in payments services, especially as leadership in digital financial technology becomes a national priority, says Jess Cheng at Wilson Sonsini.

  • Opinion

    GENIUS Act Can Bring Harmony To Crypto-Banking Discord

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    ​​​​​​​By embracing crypto innovation while establishing appropriate guardrails, the so-called GENIUS Act charts a path forward that promotes financial inclusion and technological advancement without compromising stability or constitutional rights, says J.W. Verret at George Mason University's Antonin Scalia Law School.

  • Series

    Law School's Missed Lessons: Be An Indispensable Associate

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    While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.

  • Mass. AG Emerges As Key Player In Consumer Protection

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    Through enforcement actions and collaborations with other states — including joining a recent amicus brief decrying the defunding of the Consumer Financial Protection Bureau — Massachusetts Attorney General Andrea Campbell has established herself as a thought leader for consumer protection and corporate accountability, say attorneys at Troutman Pepper.

  • Series

    Birding Makes Me A Better Lawyer

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    Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q1

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    Among the most notable developments in California banking in the first quarter of the year, regulators and legislators issued regulations interpreting debt collection laws, stepped up enforcement actions, and expanded consumer protections for those affected by wildfires, says Stephen Britt at Severson & Werson.

  • Inside State AGs' Arguments Defending The CFPB

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    Recent amicus briefs filed by a coalition of 23 attorneys general argue that the Trump administration's efforts to dismantle the Consumer Financial Protection Bureau will irreparably harm consumers in several key areas, making clear that states are preparing to fill in any enforcement gaps, say attorneys at Kelley Drye.

  • Series

    Adapting To Private Practice: From DOJ Leadership To BigLaw

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    The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.

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