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Banking
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February 20, 2026
Shoddy 401(k) Funds Cost Stifel Workers $134M, Suit Says
Stifel Financial Corp. allowed its workers to face up to $134 million in losses by failing to boot poorly performing investment funds from its retirement plan in violation of federal benefits law, according to a Friday suit filed in Missouri federal court.
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February 20, 2026
Middle-Market Private Data Sector Poised For M&A Growth
As demand for insight into the opaque corners of the financial world accelerates, buyers are increasingly zeroing in on middle-market private market data providers, where attorneys say consolidation is poised to intensify.
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February 20, 2026
Simpson Thacher Plans Dallas Launch, Adds Capital Practice
Simpson Thacher & Bartlett LLP is planning to plant a second flag in the Lone Star State with a shop in Dallas after launching a capital structure solutions practice with a New York-based partner who came aboard from Kirkland & Ellis LLP at the helm.
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February 20, 2026
JP Morgan Fined €12.2M By ECB For Misreporting Risk
The European Central Bank has fined J.P. Morgan €12.18 million ($14.35 million) for breaching reporting rules governing capital held against the risk of default, saying the company was guilty of serious negligence and had deficiencies in its internal processes.
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February 20, 2026
Trump Imposes Maximum Tariff After Supreme Court Rebuke
President Donald Trump imposed a temporary global tariff with several exemptions hours after the U.S. Supreme Court struck down tariffs imposed under the International Economic Emergency Powers Act, then announced that he would increase the duty to the 15% maximum.
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February 19, 2026
Feds Rest In Ex-Morgan Stanley Adviser's NBA Fraud Trial
Manhattan federal prosecutors on Thursday rested their case against a former Morgan Stanley investment adviser who's accused of defrauding NBA players out of millions of dollars by secretly profiting off their insurance investments and diverting client funds for his own use.
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February 19, 2026
Fidelity National Investors Get Initial OK For $210M Deal
Investors in fintech Fidelity National Information Services have gotten an initial green light for their $210 million deal to settle allegations the company mischaracterized the business prospects of its multibillion-dollar acquisition of payment processor Worldpay.
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February 19, 2026
Ohio Justices Shield Lenders From COVID-Era Class Claims
The Ohio Supreme Court ruled Thursday that a state resident can collect damages from Quicken Loans for the company's failure to report within 90 days that his mortgage had been paid off, but reversed a trial court's certification of a class of individuals who experienced the same issue, finding an amended state law prohibits the action.
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February 19, 2026
FNB Affiliate Denied Injunction Over Noncompete Clauses
The Pennsylvania Superior Court has ruled that a First National Bank wealth management subsidiary was not entitled to an injunction seeking to block three of its former financial advisers from working for a competitor, holding that they did not violate their restrictive covenants.
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February 19, 2026
Outcome Execs Argue High Court Ruling Ends Restitution Bid
Former Outcome Health executives who were convicted of a nearly $1 billion fraud are again asking their trial judge to end restitution proceedings in their case, arguing recent U.S. Supreme Court precedent makes clear the judge lacks the necessary jury findings to decide the long-outstanding issue.
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February 19, 2026
UBS Whistleblower To Get Full Retrial On Long-Running Case
A New York federal judge on Thursday ordered a retrial over a fired UBS worker's whistleblower retaliation lawsuit, marking the latest development in a saga that saw the Second Circuit strike down his 2017 trial win twice, before and after the case was revived by the U.S. Supreme Court.
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February 19, 2026
JPMorgan Pans Trump's 'Woefully Inadequate' Debanking Suit
JPMorgan Chase on Thursday removed President Donald Trump's $5 billion "debanking" lawsuit to Florida federal court, saying it plans to fight for dismissal of the case as it rolled out a Jones Day legal team that includes Trump's former Solicitor General Noel Francisco.
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February 19, 2026
SEC's Peirce Calls For Crypto-Updated Liquidity Rule
U.S. Securities and Exchange Commission member Hester Peirce, the leader of the agency's crypto task force, called Thursday for public feedback on how the agency might apply a rule on broker liquidity to firms that choose to keep stablecoins on hand.
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February 19, 2026
Wells Fargo Urges 4th Circ. To Ax Ex-Director's $22M ADA Win
Wells Fargo is doubling down on its efforts to unravel a $22 million Americans with Disabilities Act verdict in favor of a former employee, telling the Fourth Circuit the former bank director was never denied a chance to work from home and therefore cannot claim the bank failed to accommodate him, among other things.
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February 19, 2026
Feds Hit 7 People With COVID Relief, Mortgage Fraud Claims
Seven people were charged separately in Massachusetts federal court with defrauding mortgage lenders and the Paycheck Protection Program, a defunct coronavirus loan relief program, in multimillion-dollar schemes, the U.S. Department of Justice announced.
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February 19, 2026
Energy Startup Targets Binance, Banks In Loan Fraud Claims
Connecticut-based clean energy startup Palm Energy Systems LLC has filed a racketeering lawsuit against cryptocurrency exchange Binance Holdings Ltd., its once-imprisoned former CEO Changpeng Zhao and two banks, alleging they either enabled or failed to stop a cash and Bitcoin financing fraud scheme that drained $400,000 from its accounts.
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February 19, 2026
Warren Seeks Treasury, Fed Pledge Of No Bitcoin Bailout
Sen. Elizabeth Warren, D-Mass., is asking the U.S. Treasury and Federal Reserve to provide a written pledge not to bail out cryptocurrency markets in the face of sliding bitcoin prices, saying such a move would disproportionately benefit billionaires.
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February 19, 2026
Doc Fight Delays Trial In $22M McCarter & English Loan Suit
The delayed disclosure of thousands of documents has created "a lot of prejudice" against McCarter & English as it fights a $22.5 million professional malpractice lawsuit, and the impending trial must be pushed back again, a Connecticut state judge said Thursday.
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February 19, 2026
McDermott Adds Transmitter Licensing Atty To Crypto Team
McDermott Will & Schulte announced Wednesday that it has added a money transmitter licensing lawyer from Ketsal PLLC to its cryptocurrency team, which the firm calls "the industry's only crypto-exclusive team whose lawyers devote 100% of their practice to digital asset matters."
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February 18, 2026
Education Dept. Faces Suit Alleging Double Loan Reporting
The U.S. Department of Education has been causing student loan balances to appear doubled on borrowers' credit reports, a New York resident alleged in a proposed class action filed Wednesday in New York federal court, saying her $150,000 total loan balance was reported at $300,000.
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February 18, 2026
Robinhood Clears Fla. AG Probe Of Crypto Platform Marketing
Robinhood Markets Inc. told investors on Wednesday that Florida's attorney general has closed an investigation into the marketing practices of its crypto trading arm, ending a probe that had scrutinized whether the company misled customers about trading costs.
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February 18, 2026
Epstein Survivor Seeks Class Cert. In BofA 'Blind Eye' Suit
A survivor of Jeffrey Epstein's sex-trafficking operation who is suing Bank of America for allegedly facilitating the disgraced financier's crimes seeks certification of a class of potentially over 1,000 victims of the enterprise and has asked the court to appoint two firms as lead counsel.
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February 18, 2026
PayPal 'Too Optimistic' With 2027 Forecast, Investors Say
PayPal was hit with a shareholder's proposed class action accusing it and its executives of damaging investors by walking back positive guidance and a strong growth trajectory for its branded checkout segment earlier this month.
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February 18, 2026
BofA Military Interest Cap Suit Should Be Tossed, Judge Says
A North Carolina federal judge has recommended tossing a proposed class action accusing Bank of America of violating an interest cap law for military service members, saying the veteran plaintiffs have failed to allege any actual violations of federal or state law.
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February 18, 2026
Trump Admin Doubles Down At DC Circ. In Fight Over CFPB
The Trump administration has pressed the D.C. Circuit to lift an injunction barring mass layoffs at the Consumer Financial Protection Bureau, slamming it as a "sweeping intrusion" on agency management that rests on incorrect speculation about what the end goal is.
Expert Analysis
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Series
Teaching Logic Makes Me A Better Lawyer
Teaching middle and high school students the skills to untangle complicated arguments and identify faulty reasoning has made me reacquaint myself with the defined structure of thought, reminding me why logic should remain foundational in the practice of law, says Tom Barrow at Woods Rogers.
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Series
Law School's Missed Lessons: Practicing Resilience
Resilience is a skill acquired through daily practices that focus on learning from missteps, recovering quickly without internalizing defeat and moving forward with intention, says Nicholas Meza at Quarles & Brady.
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Takeaways From The DOJ Fraud Section's 2025 Year In Review
Former acting Principal Deputy Chief Sean Tonolli of the U.S. Department of Justice's Fraud Section, now at Cahill Gordon, analyzes key findings from the section’s annual report — including the changes implemented to adapt to the new administration’s priorities — and lays out what to watch for this year.
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What An Uptick In Shareholder Activism Means For Banking
With increasing bank M&A activity, activists are becoming more focused on larger banking institutions, but there are ways banks can begin to prepare in case they need to defend against activist campaigns, say attorneys at Debevoise.
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Can OCC State Banking Law Preemption Survive The Courts?
While two December proposals from the Office of the Comptroller of the Currency seek to foreclose pending consumer litigation against national banks related to residential mortgage lending, it's unclear whether this aggressive approach will withstand judicial scrutiny under the U.S. Supreme Court's 2024 rulings in Cantero and Loper Bright, say attorneys at Davis Wright.
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How Selig May Approach CFTC Agricultural Enforcement
As the U.S. Commodity Futures Trading Commission begins a new chapter under recently confirmed Chairman Michael Selig's leadership, a look back at the agency's actions in agricultural markets over the past six years sheds light on what may lie ahead for enforcement in the area, say attorneys at Latham.
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How 3 CFTC Letters Overhauled Digital Asset Guidance
The U.S. Commodity Futures Trading Commission recently issued three letters providing guidance for the use of digital assets in derivatives markets, clarifying the applicability of CFTC regulations across numerous areas of digital asset activities and leading to the development of standards to allow market participants to post digital assets as collateral, say attorneys at Morgan Lewis.
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NYC Bar Opinion Warns Attys On Use Of AI Recording Tools
Attorneys who use artificial intelligence tools to record, transcribe and summarize conversations with clients should heed the New York City Bar Association’s recent opinion addressing the legal and ethical risks posed by such tools, and follow several best practices to avoid violating the Rules of Professional Conduct, say attorneys at Smith Gambrell.
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Series
The Biz Court Digest: Dispatches From Utah's Newest Court
While a robust body of law hasn't yet developed since the Utah Business and Chancery Court's founding in October 2024, the number of cases filed there has recently picked up, and its existence illustrates Utah's desire to be top of mind for businesses across the country, says Evan Strassberg at Michael Best.
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Aviation Watch: Busy Skies, Tough Market For Airlines In 2026
After a turbulent year in the U.S. commercial aviation sector, demand for air travel and premium service shows no signs of slackening in 2026, with airlines facing the need to compete in a saturated market, while seeking opportunities for consolidation and pursuing other avenues to profitability, says Alan Hoffman, a retired attorney and aviation expert.
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4 Quick Emotional Resets For Lawyers With Conflict Fatigue
Though the emotional wear and tear of legal work can trap attorneys in conflict fatigue — leaving them unable to shake off tense interactions or return to a calm baseline — simple therapeutic techniques for resetting the nervous system can help break the cycle, says Chantel Cohen at CWC Coaching & Therapy.
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3 Key Ohio Financial Services Developments From 2025
Ohio's banking and financial services sector saw particularly notable developments in 2025, including a significant Ohio Supreme Court decision on creditor disclosure duties to guarantors in Huntington National Bank v. Schneider, and some major proposed changes to the state's Homebuyer Plus program, says Alex Durst at Durst Kerridge.
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Series
Playing Tennis Makes Me A Better Lawyer
An instinct to turn pain into purpose meant frequent trips to the tennis court, where learning to move ahead one point at a time was a lesson that also applied to the steep learning curve of patent prosecution law, says Daniel Henry at Marshall Gerstein.
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OCC Rulemaking May Clear Haze Around Trust Banks' Scope
A recent Office of the Comptroller of the Currency proposal at last eliminates uncertainty around whether national trust banks can engage in nonfiduciary activities, but it does not address which activities are permissible or whether a minimum amount of fiduciary activity is required, say attorneys at Davis Polk.
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Justices' BDO Denial May Allow For Increased Auditor Liability
The Supreme Court's recent denial of certiorari in BDO v. New England Carpenters could lead to more actions filed against accounting firms, as it lets stand a 2024 Second Circuit ruling that provided a road map for pleading falsity with respect to audit certifications, says Dean Conway at Carlton Fields.