Banking

  • August 08, 2025

    Conn. Legislation Highlights In The 1st Half Of 2025

    The highest-profile bill of Connecticut's 2025 legislative session was the state's two-year, $55.8 billion budget, which increased salaries for judges, boosted access to early childhood education programs and made changes to corporate taxes that are expected to raise around $350 million. But lawmakers also tackled issues in family, criminal and employment law, with mixed success.

  • August 08, 2025

    Fight Over Choice Of Arbitrator Lands In Mass. Court

    A weekslong disagreement over whether JAMS or the American Arbitration Association will serve as arbitrator in a dispute between a North Carolina bank and an employee in Massachusetts ended up in the place both sides were trying to avoid: a state court in Massachusetts.

  • August 08, 2025

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

    This past week in London has seen the U.S. Securities and Exchange Commission target a British investor over a $10 million microcap fraud scheme, Merck Sharp & Dohme move against Halozyme Inc. following a recent clash over its patented cancer medicine, and Birmingham City Council sue a school minibus operator years after ending its contract over DBS check failures. Here, Law360 looks at these and other new claims in the U.K. 

  • August 07, 2025

    CFPB Mulls Cuts To Oversight Reach In 4 Nonbank Markets

    The Consumer Financial Protection Bureau is considering formally scaling back the reach of its nonbank oversight, floating a series of early stage proposals that contemplate sharply reducing the number of firms it would supervise in four key financial services markets.

  • August 07, 2025

    Experian Gets CFPB Credit Reporting Suit Tossed, For Now

    A California federal judge dismissed a Consumer Financial Protection Bureau lawsuit accusing Experian of mishandling consumer credit reporting disputes, saying the agency hasn't sufficiently shown that a tolling agreement with Experian's parent company stopped the clock on the claims, but gave the agency a chance to rework its complaint.

  • August 07, 2025

    ND Judge Strikes Down Fed's Debit Card Fee Regulation

    A North Dakota federal judge has invalidated the Federal Reserve's regulation limiting certain debit card fees charged in merchant transactions, ruling in favor of a truck stop and convenience store in finding that the Fed had attempted to "improperly repackag[e] the defunct-Chevron deference under a different name."

  • August 07, 2025

    9th Circ. Revives Homeowners' 'Reverse Mortgage Loan' Suit

    A Ninth Circuit panel has revived a proposed class action against a company offering homeowners cash in exchange for a slice of their home equity, finding a Washington couple has shown their arrangement amounted to a reverse mortgage loan subject to special statutory requirements.

  • August 07, 2025

    Eventide Creditors Seek Trustee To Take Over Ch. 11 Case

    The official committee of unsecured creditors in the Chapter 11 case of consumer lending company Eventide Credit Acquisitions has asked a Texas judge for the appointment of a trustee to oversee the proceedings, saying the debtor and its principal have flouted the rules of bankruptcy since the case began in 2023.

  • August 07, 2025

    Trump Taps Economic Adviser Miran For Fed Board Vacancy

    President Donald Trump said Thursday that he has chosen Stephen Miran, the chairman of his Council of Economic Advisers, to fill a vacancy on the Federal Reserve's Board of Governors until early 2026 while continuing to search for a permanent replacement.

  • August 07, 2025

    Novartis Faces $291M Trade Secrets Suit From Hedge Fund

    A hedge fund on Thursday accused Novartis, a former investment executive and the executive's longtime friend and business partner of scheming to steal its "innovative hedge fund strategy" after an investment deal between the biotech giant and the hedge fund went south. 

  • August 07, 2025

    Binance Partner To Pay $48.5M For Compliance Failure Claims

    Cryptocurrency trust Paxos Trust Co. has agreed to pay a $26.5 million fine and place $22 million into beefing up its compliance program in a settlement with a New York regulator over its anti-money laundering policies and other alleged due diligence failures related to its stablecoin partnership with crypto exchange Binance.

  • August 07, 2025

    Trump 'Debanking' Order Calls For Scrutiny Of Bank Practices

    President Donald Trump on Thursday directed federal regulators to investigate and potentially punish banks if they have turned away customers based on their political or religious beliefs, escalating his administration's crackdown on so-called debanking.

  • August 07, 2025

    Haynes Boone Grows NY Office With Ex-Winston Strawn Atty

    Haynes Boone has added a litigator previously with Winston & Strawn LLP who once headed the Internal Revenue Service's Criminal Investigation division as chair of its financial services investigations and enforcement practice in New York, the firm has announced.

  • August 07, 2025

    NC Biz Court Bulletin: Divorce Dust-Ups And Judicial Rebukes

    Litigation in the North Carolina Business Court is heating up this summer with new complaints centered on fears a former state politician's divorce proceedings will impede his companies' operations and accusations that a climate technology company has failed to pay out a former engineer's ownership interest.

  • August 06, 2025

    Womble Bond Adds Hill Dickinson Atty As Disputes Partner

    Womble Bond Dickinson has appointed a new London-based partner for its commercial disputes team, saying he will help strengthen the law firm's international arbitration practice following his move from Hill Dickinson LLP.

  • August 06, 2025

    Texas Hospital Should Face Retirement Plan Suit, Judge Says

    A Houston hospital shouldn't dodge a proposed class action claiming it failed to remove a J.P. Morgan fund from its $2.8 billion employee retirement plan despite the investment option's consistent underperformance, a Texas federal magistrate judge recommended Wednesday, saying the allegations are solid enough to stay in court.

  • August 06, 2025

    Indivior Beats Investor Suit Over Opioid Drug Sales Forecasts

    A Virginia federal judge Wednesday tossed an investor class action accusing drugmaker Indivior PLC of overstating the financial prospects of its drugs used to treat opioid use disorders and its ability to forecast such financial projections, finding, among other things, that the complaint's challenged statements are inactionable.

  • August 06, 2025

    Wells Fargo Beats Cert. Bid In Mortgage Racial Bias Suit

    Mortgage applicants accusing Wells Fargo of discriminating against borrowers from racial minorities by charging them higher interest rates have been denied class certification, with a California federal court ruling they have failed to show sufficient commonality among their claims.

  • August 06, 2025

    4th Circ. Revives Chance Of Class Cert. For Overdraft Suit

    The Fourth Circuit has reversed a denial of class certification in a lawsuit against Michigan-based Independent Bank, finding that a South Carolina federal judge had improperly ruled that bank customer Jamila Grice couldn't represent a nationwide class and remanding the case for further proceedings.

  • August 06, 2025

    Accounting Firm Must Face Ex-Credit Union CEO's Firing Suit

    The largest accounting firm in Connecticut, Whittlesey PC, must face the former CEO of Sound Federal Credit Union's claim that he was fired for following the firm's advice on when to calendar gains from a $1.2 million property sale, a Connecticut trial court judge has ruled.

  • August 06, 2025

    Wells Fargo Worker To Pay $3M To Settle ESOP Class Claims

    A Wells Fargo employee will pay $3 million to resolve claims against her in a class action alleging owners of an electrical component company and managers of its employee stock ownership plan undervalued the plan's shares when the program shut down, according to a filing in Massachusetts federal court.

  • August 06, 2025

    Honey Dew Says M&A Adviser Missed Fake $25M Letter

    Massachusetts-based regional coffee and donut chain Honey Dew says the investment banking firm it hired to find a buyer in 2018 would have learned that a $25 million "proof of funds" letter purporting to be from UBS was a forgery had it performed the expected due diligence.

  • August 05, 2025

    Voyager Digital's Former Bank Escapes Fraud Suit, For Now 

    Voyager Digital's former bank, Metropolitan Commercial Bank, has won dismissal of a 53-count suit alleging it was complicit in bad behavior by the now-defunct crypto lender and should be on the hook for repaying platform users, with the court ruling that the complaint as-is does not plausibly plead fraud or unjust enrichment.

  • August 05, 2025

    Fired NCUA Officials Urge DC Circ. To Return Them To Board

    Two top credit union regulators fired by President Donald Trump are asking the D.C. Circuit to let them go back to work while it reviews a lower-court decision reinstating them, arguing their service is needed to prevent a painful impending snapback in interest-rate limits for federal credit unions.

  • August 05, 2025

    SVB Directed To Object To Ch. 11 Claims In Standing Fight

    The former parent company of Silicon Valley Bank and liquidators tasked with winding up its Cayman Islands branch locked horns on Tuesday over standing in a $294 million lawsuit, prompting a New York bankruptcy judge to request that SVB Financial object to claims as having been filed too late.

Expert Analysis

  • Opinion

    Senate's 41% Litigation Finance Tax Would Hurt Legal System

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    The Senate’s latest version of the Big Beautiful Bill Act would impose a 41% tax on the litigation finance industry, but the tax is totally disconnected from the concerns it purports to address, and it would set the country back to a time when small plaintiffs had little recourse against big defendants, says Anthony Sebok at Cardozo School of Law.

  • Comparing Stablecoin Bills From UK, EU, US And Hong Kong

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    For multinational stablecoin issuers, navigating the differences and similarities among regimes in the U.K., EU, Hong Kong and U.S., which are currently unfolding in several key ways, is critical to achieving scalable, compliant operations, say attorneys at Morgan Lewis.

  • Tips For Litigating Apex Doctrine Disputes Amid Controversy

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    Litigants once took for granted that deposition requests of high-ranking corporate officers required a greater showing of need than for lower-level witnesses, but the apex doctrine has proven controversial in recent years, and fights over such depositions will be won by creative lawyers adapting their arguments to this particular moment, say attorneys at Hangley Aronchick.

  • Series

    Performing As A Clown Makes Me A Better Lawyer

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    To say that being a clown in the Macy’s Thanksgiving Day Parade has changed my legal career would truly be an understatement — by creating an opening to converse on a unique topic, it has allowed me to connect with clients, counsel and even judges on a deeper level, says Charles Tatelbaum at Tripp Scott.

  • A Guide To Permanent Capital Vehicles As Access Widens

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    Recent regulatory and legislative actions are making it easier for retail investors to access permanent capital vehicles like closed-end, interval, tender offer and open-end funds, which each offer distinct advantages that are important to review, say attorneys at Mayer Brown.

  • Series

    Law School's Missed Lessons: Rejecting Biz Dev Myths

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    Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.

  • Shareholder Takeaways From NY Internal Affairs Doctrine Suit

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    A May New York Court of Appeals decision in Ezrasons v. Rudd involving Barclays — affirming the state's "firmly entrenched" internal affairs doctrine — is a win for all corporate stakeholders seeking stability in resolving disputes between shareholders and directors and officers, say attorneys at Sadis & Goldberg.

  • Move Beyond Surface-Level Edits To Master Legal Writing

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    Recent instances in which attorneys filed briefs containing artificial intelligence hallucinations offer a stark reminder that effective revision isn’t just about superficial details like grammar — it requires attorneys to critically engage with their writing and analyze their rhetorical choices, says Ivy Grey at WordRake.

  • Best Practices For State Banks Eyeing Federal Conversions

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    Amid a notable uptick — fueled by ongoing regulatory upheaval — in state-chartered banks exploring conversion to national bank charters, banks contemplating the decision should weigh the benefits, like uniform supervision, and potential impediments, like costly exam fees, say attorneys at Skadden.

  • EDNY Ruling May Limit Some FARA Conspiracy Charges

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    Though the Eastern District of New York’s recent U.S. v. Sun decision upheld Foreign Agents Registration Act charges against a former aide to New York Gov. Kathy Hochul, its recognition of an affirmative legislative policy to exempt some officials may help defendants charged with related conspiracies, say attorneys at ArentFox Schiff.

  • 9th Circ. Has Muddied Waters Of Article III Pleading Standard

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    District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.

  • Series

    Competing In Modern Pentathlon Makes Me A Better Lawyer

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    Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.

  • Shifting DEI Expectations Put Banks In Legal Crosshairs

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    The Trump administration's rollbacks on DEI-friendly policies create something of a regulatory catch-22 for banks, wherein strict compliance would contradict established statutory and administrative mandates regarding access to credit for disadvantaged communities, say attorneys at Husch Blackwell.

  • Atkins' Crypto Remarks Show SEC Is Headed For A 'New Day'

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    A look at U.S. Securities and Exchange Commission Chairman Paul Atkins' recent speeches provides significant clues as to where the SEC is going next and how its regulatory approach to crypto will differ from that of the previous administration, say attorneys at Eversheds Sutherland.

  • DOJ Memo Lays Groundwork For Healthy Bank Sponsorships

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    The U.S. Department of Justice's recent digital asset policy shift offers potential clarity in the murky waters of sponsor bank relationships, presenting nontraditional financial companies with both a moment of opportunity and a test of maturity, say attorneys at Arnall Golden.

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