Banking

  • August 20, 2025

    Crypto Groups Resist Banks' Stablecoin 'Loophole' Claims

    Cryptocurrency groups have told U.S. Senate lawmakers that banking industry groups are attempting to relitigate issues put to rest with a recently enacted federal law to regulate stablecoins, arguing that the banking groups' proposals to use separate, pending legislation to close alleged "loopholes" would disadvantage the crypto sector.

  • August 20, 2025

    Rising Star: Latham's Mike Waldman

    Michael H. Waldman of Latham & Watkins LLP helped guide a landmark $2 billion private credit loan to Dropbox last year and has advised on multiple billion-dollar cross-border financing deals, earning a spot among the banking law practitioners under age 40 honored by Law360 as Rising Stars.

  • August 20, 2025

    IRS Lost Lien In Bankruptcy, Man Says In $28M Tax Battle

    The Internal Revenue Service jettisoned any federal tax lien it claims to have against a man by filing an unsecured claim in his bankruptcy case, he told a Florida federal court Wednesday in response to the government's $28 million lawsuit against him.

  • August 20, 2025

    Trump Says Fed's Cook 'Must Resign' Amid Loan Fraud Claim

    President Donald Trump's Federal Housing Finance Agency chief on Wednesday accused Federal Reserve Gov. Lisa Cook of potential mortgage fraud and said he has referred the matter to federal prosecutors, prompting Trump to call for Cook's immediate resignation — a call she has rejected.

  • August 19, 2025

    CFPB Ends 'Biased' Investigation Of Gun-Financing Fintech

    Credova, a fintech firm specializing in buy-now, pay-later financing for firearms and outdoor recreational goods purchases, is no longer facing what the Consumer Financial Protection Bureau now says was a "politically motivated" investigation on its part, the firm's parent company announced Tuesday.

  • August 19, 2025

    FDIC Seeks To Pare Down Biden-Era Digital Signage Rule

    The Federal Deposit Insurance Corp. moved Tuesday to relax its Biden-era digital signage rule, issuing a proposed revamp that it said is aimed at addressing bank concerns about "implementation issues" arising from the new logo and disclosure requirements.

  • August 19, 2025

    BofA Knocks Out State Law Claims In Zelle Fraud Class Action

    A North Carolina federal judge partially sustained Bank of America's objections to a magistrate judge's recommendation allowing a proposed class action over alleged fraud on the peer-to-peer payment service Zelle to proceed, finding that the suit fails to plausibly plead claims under any of the asserted state consumer protection statutes.

  • August 19, 2025

    Wyoming Launches First State-Issued Stablecoin

    Wyoming on Tuesday became the first U.S. state to issue its own stable-value token, with public purchasing soon to come.

  • August 19, 2025

    Bribery Case Against Rep. Cuellar And His Wife Trimmed

    A federal judge agreed Tuesday to drop two counts from a bribery indictment against U.S. Rep. Henry Cuellar, D-Texas, and his wife, but said dropping the counts did not warrant dismissal of the entire indictment.

  • August 19, 2025

    Credit Union Seeks Coverage For ITM Hack, Fraud Schemes

    An insurer owes nearly $715,000 for two separate losses a credit union incurred after a crime ring hacked a number of its interactive teller machines and a counterfeit check fraud scheme affected multiple account holders, the credit union said in a lawsuit removed to Delaware federal court.

  • August 19, 2025

    Rising Star: Davis Polk's David Kennedy

    David Kennedy, a partner in Davis Polk & Wardwell LLP's finance practice group, advised one of the largest-ever private credit deals in the U.S., with the refinancing of Finastra Group's existing first-lien and second-lien credit facilities, earning him a spot among the banking law practitioners under age 40 honored by Law360 as Rising Stars.

  • August 19, 2025

    Sunnova's $118M Sale Can Proceed Despite Bank's Protest

    A Texas bankruptcy judge Tuesday declined to undo a $118 million sale of almost all the assets of solar panel business Sunnova Energy International Inc., rejecting a St. Louis-area bank's argument that the debtor failed to disclose that nondebtor assets would be part of the transaction.

  • August 18, 2025

    Battle Brews Over Fed's Plan For Big Bank Ratings Revamp

    Leading banking industry groups are urging the Federal Reserve to move full speed ahead with a supervisory ratings overhaul that could classify more big banks as "well managed," but critics warn the plan amounts to dangerous, and potentially unlawful, grade inflation.

  • August 18, 2025

    SDNY Judges OK Trump's Selection Of Jay Clayton As US Atty

    The Southern District of New York on Monday permitted Jay Clayton to continue overseeing the district's prosecutorial office, appointing Clayton as U.S. attorney just a day before his tenure as interim U.S. attorney was set to expire.

  • August 18, 2025

    Deutsche Bank, NCUA Net Partial Wins In Crisis-Era RMBS Suit

    A New York federal judge has granted partial early wins to both the National Credit Union Administration board and Deutsche Bank in a long-running suit stemming from the 2008 financial crisis and concerning allegations that Deutsche Bank failed to fulfill its duties to certificate holders in several residential mortgage-backed securities trusts.

  • August 18, 2025

    Mexican Bank Sues Treasury Over Opioid Order Death Knell

    Mexico-based bank CIBanco has sued the U.S. Department of the Treasury and its criminal enforcement wing for cutting off its access to the U.S. financial system through an order aimed at combating opioid trafficking, arguing it faces an "imminent demise" if it doesn't get the chance to show the regulator's allegations are false.

  • August 18, 2025

    Rising Star: Orrick's Jennifer Lee

    Jennifer Lee of Orrick Herrington & Sutcliffe LLP helped Nationstar Mortgage LLC defeat a slew of claims tied to the sale of nearly $2 billion in delinquent loans and represented Credit Suisse in a two-week trial in New York state court involving nine-figure litigation, earning her a spot among the banking law practitioners under age 40 honored by Law360 as Rising Stars.

  • August 18, 2025

    Treasury Seeks Input On Tech To Combat Crypto Crimes

    The U.S. Department of the Treasury on Monday asked the public to share feedback on how novel technologies might be used to detect and thwart illicit crypto activity, fulfilling a directive under a recently signed bill to regulate stable value tokens.

  • August 15, 2025

    Stewart Issues Dozens More Discretionary Denial Decisions

    Acting U.S. Patent and Trademark Office Director Coke Morgan Stewart denied numerous petitions challenging patents on discretionary grounds this week, while referring a smaller number of cases to the Patent Trial and Appeal Board.

  • August 15, 2025

    Schwab Defends Antitrust Settlement From Iowa AG Objection

    The Charles Schwab Corp. has pushed back on objections raised by the Iowa attorney general and others to an investor class action settlement over its merger with TD Ameritrade, saying its plan to implement an antitrust compliance program, among other things, "offers real value to the class." 

  • August 15, 2025

    Mich. Bank Keeps Arbitration Win Against Scammed Law Firm

    A marijuana industry-focused law firm must pay its bank nearly $373,000, a deficit sustained after a Nigerian scammer tricked the firm into cashing fraudulent Canadian checks, a Michigan appeals court ruled, rejecting arguments that the bank had a duty to protect the firm "from its own mistakes."

  • August 15, 2025

    Federal Reserve To End Crypto-Focused Supervisory Program

    The Federal Reserve Board on Friday announced the end of a Biden-era supervisory program that specifically oversaw banks' crypto and fintech activities, a move that comes after Wall Street trade groups argued that the program unfairly subjected banks to a higher level of scrutiny for their use of novel tech.

  • August 15, 2025

    Ex-US Bank AI Chief Says He Was Pushed Out Over Race

    The former head of U.S. Bank's artificial intelligence efforts has sued the bank, arguing he was subjected to a biased investigation, replaced by less-qualified white employees and had a new job offer rescinded after defamatory statements by bank employees, in retaliation for reporting race and religion discrimination.

  • August 15, 2025

    Mass. Nonprofit To Pay $1M To Settle FCA Allegations

    A Massachusetts nonprofit will pay $1 million to settle allegations it violated the False Claims Act by securing a pandemic relief loan that it was never eligible for and was later forgiven, federal prosecutors said Friday.

  • August 15, 2025

    Rising Star: Sullivan & Cromwell's Ana M. González Pérez

    Ana M. González Pérez of Sullivan & Cromwell LLP helped steer Credit Suisse through its merger and integration with UBS and co-negotiated investment terms that pulled a struggling New York Community Bancorp back from the brink, earning her a spot among the banking law practitioners under age 40 honored by Law360 as Rising Stars.

Expert Analysis

  • 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 CFPB 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.

  • Series

    Volunteering At Schools Makes Me A Better Lawyer

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    Speaking to elementary school students about the importance of college and other opportunities after high school — especially students who may not see those paths reflected in their daily lives — not only taught me the importance of giving back, but also helped to sharpen several skills essential to a successful legal practice, says Guillermo Escobedo at Constangy.

  • Fed's Crypto Guidance Yank Could Drive Innovation

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    The Federal Reserve Board's recent withdrawal of guidance letters brings regulatory consistency and broadens banks' ability to innovate in the crypto-asset space, but key distinctions remain between the Fed's policy on crypto liquidity and that of the other banking regulators, says Dan Hartman at Nutter.

  • Attacks On Judicial Independence Tend To Manifest In 3 Ways

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    Attacks on judicial independence now run the gamut from gross (bald-faced interference) to systemic (structural changes) to insidious (efforts to undermine public trust), so lawyers, judges and the public must recognize the fateful moment in which we live and defend the rule of law every day, says Jim Moliterno at Washington and Lee University.

  • OCC's Digital Embrace Delivers Risk, Opportunity For Banks

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    As the Office of the Comptroller of the Currency continues to release and seek more information on banks' participation in the crypto-asset arena, institutions may see greater opportunity to pursue digital asset and custody services, but must simultaneously educate themselves on transformations occurring throughout the industry, says Kirstin Kanski at Spencer Fane.

  • Remediation Still Reigns Despite DOJ's White Collar Shake-Up

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    Though the U.S. Department of Justice’s recently announced corporate enforcement policy changes adopt a softer tone acknowledging the risks of overregulation, the DOJ has not shifted its compliance and remediation expectations, which remain key to more favorable resolutions, say Jonny Frank, Michele Edwards and Chris Hoyle at StoneTurn.

  • Series

    Law School's Missed Lessons: Appreciating Civil Procedure

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    If you’re like me, law school’s often complex and theoretical approach to teaching civil procedure may have contributed to an early struggle with the topic, but when seen from a practical perspective, new lawyers may find they enjoy mastering these rules, says Chloe Villagomez at Foster Garvey.

  • Section 899 Could Be A Costly Tax Shift For US Borrowers

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    Intended to deter foreign governments from applying unfair taxes to U.S. companies, the proposal adding new Section 899 to the Internal Revenue Code would more likely increase tax burdens on U.S. borrowers than non-U.S. lenders unless Congress limits its scope, says Michael Bolotin at Debevoise.

  • Calif. Bar Exam Fiasco Shows Why Attys Must Disclose AI Use

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    The recent revelation that a handful of questions from the controversial California bar exam administered in February were drafted using generative artificial intelligence demonstrates the continued importance of disclosure for attorneys who use AI tools, say attorneys at Troutman.

  • The State Of Play For Bank Merger Act Applications

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    Both the Office of the Comptroller of the Currency's recent reversal of changes to its bank merger policies and the Federal Deposit Insurance Corp.'s rescission of its 2024 statement may be relevant for all banks considering a transaction, as responsibility for review depends on the identity of the parties and the transaction structure, say attorneys at Davis Polk.

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