Banking

  • December 22, 2025

    New Class Action Claims CIBC, RBC Rigged Quantum Shares

    A Quantum Biopharma investor has filed a proposed class action against several major Canadian banks, accusing them of running a spoofing scheme for years that artificially drove down Quantum's stock price — flooding exchanges with fake sell orders to mislead the market and buy shares at deflated prices, costing ordinary shareholders millions.

  • December 19, 2025

    PHH's $29.5M Kickback Deal Gets Final OK After 17 Years

    After 17 years of litigation, a certified class of homeowners got the final stamp of approval in California federal court for a $29.5 million settlement with PHH Mortgage and its captive reinsurer, both of which homeowners alleged received unlawful kickbacks from premiums paid for mortgage insurance.

  • December 19, 2025

    Fed Seeks Input On Limited Master Accounts For Fintechs

    The Federal Reserve Board on Friday took another step toward rolling out what are known as skinny master accounts for fintech firms, requesting public feedback on a special purpose Reserve Bank account prototype "tailored to the risks and needs of institutions focused on payments innovation."

  • December 19, 2025

    Wells Fargo Sued By Ex-Exec Over 'Fake' Diversity Interviews

    A former Wells Fargo executive has filed suit in California federal court, accusing the bank of systemic racial discrimination against Black employees and customers and alleging that he was retaliated against for challenging these practices.

  • December 19, 2025

    Iowa Appeals Schwab Antitrust Deal After Objections

    Iowa's attorney general has appealed to the Fifth Circuit a Texas federal judge's final approval of a settlement ending an antitrust class action suit over The Charles Schwab Corp.'s merger with TD Ameritrade, following the Hawkeye State's previous objection claiming the deal offered class members insufficient relief.

  • December 19, 2025

    FINRA Fines BofA Unit Over Order Routing Disclosures

    Bank of America's securities unit will pay $225,000 to the Financial Industry Regulatory Authority to end claims it published error-filled reports about how it handled customer securities orders, FINRA has announced.

  • December 19, 2025

    Loan Co. Strikes $750K Deal To End EEOC Disability Bias Suit

    The U.S. Equal Employment Opportunity Commission and a loan company have asked a Georgia federal court to approve a $750,000 deal to end a suit alleging it fired an employee who asked for time off to recover from two major heart attacks.

  • December 19, 2025

    Texas Justices Order Redo For BofA Building Valuation

    The Texas Supreme Court on Friday ordered a redo in a valuation that saw Bank of America communicate with a supposedly neutral appraiser ahead of time, saying that a trial court improperly confirmed an $8 million appraisal of a Houston property.

  • December 19, 2025

    Cadence Bank Seeks 1st Nod For $5.25M Data Breach Deal

    Cadence Bank has reached a $5.25 million deal to end negligence claims it faced in multidistrict litigation over the May 2023 breach of file transfer application MOVEit, a consumer affected by the breach has informed a Boston federal judge.

  • December 19, 2025

    More Pardon Seekers Going 'Straight To The White House'

    A nonprofit's unusual plan to make a mass pardon request directly to the Trump administration highlights burgeoning optimism among white collar defendants about their chances of securing relief, and a recognition that the clearest path to clemency no longer runs through the traditional channels.

  • December 19, 2025

    Disbarred Calif. Lawyer Gets 18 Mos. For Advance Fee Fraud

    A Manhattan federal judge sentenced a disbarred California lawyer to 18 months in prison Friday for scheming to reap $4 million in advance fees for bogus letters of credit while holding himself out as chief of compliance for a fake bank.

  • December 19, 2025

    Borrowers Win Cert. In NC Mortgage Phone Payment Fees Suit

    A North Carolina federal judge has certified a class of North Carolina borrowers who claim their loan servicer charged them exorbitant processing fees for paying their monthly mortgage by phone, finding there are common questions that are best resolved in a class action.

  • December 19, 2025

    Calif. Ex-Customs Broker Sentenced For Tax, Wire Fraud

    A California man was sentenced to 51 months in federal prison after being indicted this year on federal fraud charges and one count of tax evasion, the U.S. Department of Justice said.

  • December 19, 2025

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen the designer of an 88-facet diamond bring a copyright claim against a luxury watch retailer, collapsed firm Axiom Ince bring legal action against the solicitors' watchdog, and the Post Office hit with compensation claims from two former branch managers over their wrongful convictions during the Horizon information technology scandal.

  • December 18, 2025

    Energy Transfer Wants Action On $345M Greenpeace Verdict

    Energy Transfer begged a North Dakota state judge Thursday to enter final judgment on a $345 million defamation and property damage verdict over the Dakota Access pipeline protests, saying the case is "off the procedural map," and it heard from the judge an acknowledgment that it's taken over his professional life.

  • December 18, 2025

    OCC Ends Citi Risk Management Resource Review Order

    The Office of the Comptroller of the Currency on Thursday formally ended a 2024 amendment to a previous consent order against Citibank over its risk management practices, with Citibank saying the relevant remediation programs are "nearly at target-state."

  • December 18, 2025

    NY Jury In FARA Trial Over China Ties Says It's Deadlocked

    The Brooklyn federal jury weighing the fate of a former top New York gubernatorial aide accused of secretly acting as a foreign agent for China said Thursday that it cannot reach a unanimous verdict, after five days of deliberations.

  • December 18, 2025

    Trump's Picks To Lead FDIC, CFTC Win Senate Approval

    The U.S. Senate on Thursday signed off on two more of President Donald Trump's picks for top financial regulator jobs, confirming Travis Hill and Michael Selig as chairs of the Federal Deposit Insurance Corp. and Commodity Futures Trading Commission, respectively.

  • December 18, 2025

    Apollo Could Fetch $12B For Atlas Air, And More Rumors

    The past week saw no lack of chatter about potential sales, backdoor discussions, fundraises, initial public offerings and activist investor power moves.

  • December 18, 2025

    New NJ Rules Combat AI And Housing Discrimination

    The use of artificial intelligence in hiring practices is among the areas targeted by a sweeping new mandate enacted by New Jersey's Division on Civil Rights meant to shore up protections against discrimination.

  • December 18, 2025

    Settlement Admin, Bank Conspiracy Suits Consolidated In DC

    A group of putative class actions alleging a wide-ranging kickback scheme between three of the largest settlement administration companies in the country and banks that was designed to juice administration fees while diminishing class action payouts has been consolidated in D.C. federal court.

  • December 18, 2025

    Compliance Chiefs' Enforcement Risks Didn't Ease Up In 2025

    The landscape for chief compliance officers' liability might relax a bit in the coming years as experts anticipate the Trump administration will rely less on a "failure to supervise" theory of liability that financial regulators used to target one chief compliance officer this year.

  • December 18, 2025

    Car Dealer Credit Check Co. Sued Over Breach Affecting 5.8M

    A company that handles credit inquiries for car dealerships is facing a proposed class action accusing it of negligence, following a cyberattack on its systems in October that compromised the personal information of more than 5.8 million people.

  • December 17, 2025

    JPMorgan Ex-Advisers Sue Over Alleged Race And Sex Bias

    JPMorgan Chase & Co. and its broker-dealer unit are facing claims they discriminated against two Black women who had worked for the companies as financial advisers, giving them unfavorable branch assignments and leave-related client reassignments while later forcing them to take lower-paying remote jobs they eventually had to quit.

  • December 17, 2025

    Ex-Goldman Banker Can't Dodge Ghana Bribery Charges

    A New York federal judge on Wednesday shot down a former Goldman Sachs banker's bid to escape charges over a purported scheme to bribe Ghanaian officials to greenlight a power plant deal, rejecting defense claims of improper sealing and speedy trial violations.

Expert Analysis

  • Gauging SEC Short-Sale Rules' Future After 5th Circ. Remand

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    Though the Fifth Circuit recently remanded to the U.S. Securities and Exchange Commission two Biden-era rules requiring disclosure of securities lending and short-sale activity in order to consider the rules' cumulative economic impact, it's possible they will get reproposed, meaning compliance timelines could change, says Scott Budlong at Barnes & Thornburg.

  • Series

    Judging Figure Skating Makes Me A Better Lawyer

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    Judging figure skating competitions helps me hone the focus, decisiveness and ability to process complex real-time information I need in court, but more importantly, it makes me reengage with a community and my identity outside of law, which, paradoxically, always brings me back to work feeling restored, says Megan Raymond at Groombridge Wu.

  • $100K H-1B Fee May Disrupt Rural Healthcare Needs

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    The Trump administration's newly imposed $100,000 supplemental fee on new H-1B petitions may disproportionately affect healthcare employers' ability to recruit international medical graduates, and the fee's national interest exceptions will not adequately solve ensuing problems for healthcare employers or medically underserved areas, say attorneys at Holland & Knight.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q3

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    The third quarter of 2025 brought legislative changes to state money transmission certification requirements and securities law obligations, as well as high-profile accounting and anti-money laundering compliance enforcement actions by the Department of Financial Protection and Innovation, say attorneys at Ropes & Gray.

  • What Ethics Rules Say On Atty Discipline For Online Speech

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    Though law firms are free to discipline employees for their online commentary about Charlie Kirk or other social media activity, saying crude or insensitive things on the internet generally doesn’t subject attorneys to professional discipline under the Model Rules of Professional Conduct, says Stacie H. Rosenzweig at Halling & Cayo.

  • A Mortgage Lender's Guide To State Licensing Overhaul

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    Recent changes to the Conference of State Bank Supervisors' Nationwide Mortgage Licensing System require careful attention and planning from mortgage lenders, including tweaks to remote work designations and individual disclosure questions, says Allison Schilz at Mitchell Sandler.

  • 2 Rulings Highlight IRS' Uncertain Civil Fraud Penalty Powers

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    Conflicting decisions from the U.S. Tax Court and the Northern District of Texas that hinge on whether the IRS can administratively assert civil fraud penalties since the U.S. Supreme Court’s 2024 decision in SEC v. Jarkesy provide both opportunities and potential pitfalls for taxpayers, says Michael Landman at Bird Marella.

  • Junior Attys Must Beware Of 5 Common Legal Brief Mistakes

    Excerpt from Practical Guidance
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    Junior law firm associates must be careful to avoid five common pitfalls when drafting legal briefs — from including every possible argument to not developing a theme — to build the reputation of a sought-after litigator, says James Argionis at Cozen O'Connor.

  • As Student Loan Outlook Dims, What Happens To The Banks?

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    While much of the news around the student loan crisis focuses on the direct impact on young Americans' decreasing credit scores, the fate of the banks themselves — and the effect on banking policy — has been largely left out of the narrative, says Madeline Thieschafer at Fredrikson & Byron.

  • Digital Asset Report Opens Doors For Banks, But Risks Linger

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    A recent report from a White House working group discussing digital asset market structure signals how banks may elect to expand into digital asset custody, trading and related services in the years ahead, but the road remains layered with challenges, say attorneys at Foley & Lardner.

  • Series

    Power To The Paralegals: How And Why Training Must Evolve

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    Empowering paralegals through new models of education that emphasize digital fluency, interdisciplinary collaboration and human-centered lawyering could help solve workforce challenges and the justice gap — if firms, educators and policymakers get on board, say Kristine Custodio Suero and Kelli Radnothy.

  • 5 Real Estate Takeaways From Trump's Sweeping Tax Law

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    Changes to the Internal Revenue Code included in the One Big Beautiful Bill Act will have a range of effects on real estate sponsors, investors and real estate investment trusts — from more compliance flexibility around taxable REIT subsidiary limits to new considerations raised by a key retaliatory tax provision that was left out, say attorneys at DLA Piper.

  • Series

    Playing Softball Makes Me A Better Lawyer

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    My time on the softball field has taught me lessons that also apply to success in legal work — on effective preparation, flexibility, communication and teamwork, says Sarah Abrams at Baleen Specialty.

  • Analyzing AI's Evolving Role In Class Action Claims Admin

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    Artificial intelligence is becoming a strategic asset in the hands of skilled litigators, reshaping everything from class certification strategy to claims analysis — and now, the nuts and bolts of settlement administration, with synthetic fraud, algorithmic review and ethical tension emerging as central concerns, says Dominique Fite at CPT Group.

  • 11th Circ.'s FCRA Standing Ruling Offers Compliance Lessons

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    The Eleventh Circuit's recent decision in Nelson v. Experian on establishing Article III standing under the Fair Credit Reporting Act should prompt businesses to survey FCRA compliance programs, review open matters for standing defenses and refresh training materials, say attorneys at Nixon Peabody.

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