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Banking
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October 21, 2025
Chime Seeks Exit From Class Suit Over 'Refer A Friend' Texts
Online banking company Chime seeks to shed a proposed class action alleging its "refer a friend" texts violate Washington's Consumer Electronic Mail Act, arguing that its text referrals fit "squarely" within the anti-spam law's statutory exemption for legitimate business activities.
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October 21, 2025
Crypto Miner Bgin Blockchain Prices Downsized $30M IPO
Cryptocurrency mining company Bgin Blockchain Ltd. on Monday announced the pricing of its initial public offering, saying that it now expects to raise roughly $30 million, or $6 per share, about $20 million less than it initially projected.
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October 21, 2025
Senate GOP Bill Would Hike AML Reporting Thresholds
U.S. Senate Republicans have unveiled a bill that would raise decades-old transaction reporting thresholds under the Bank Secrecy Act, seeking to overhaul key anti-money laundering requirements that they say have buried banks and credit unions in "red tape."
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October 21, 2025
Deutsche Bank Wants Conn. Court To Stay Out Of Vik Fight
A Connecticut state court should not entertain billionaire Alexander Vik's request to shut down a lawsuit that Deutsche Bank AG is pursuing against him and his daughter in Norway, the bank said in a trio of motions that caution against interfering in a foreign proceeding.
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October 21, 2025
2nd Circ. Weighs Reviving Signature Bank Investor Suit
The Second Circuit quizzed an FDIC attorney Tuesday over the agency's ability to stop Signature Bank's former shareholders from suing following the bank's collapse, with the judges considering whether to revive a lawsuit accusing Signature's brass and its outside auditor of failing to warn investors about its liquidity problems.
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October 21, 2025
CFTC's Pham Expects Spot Crypto Trading By End Of Year
Acting U.S. Commodity Futures Trading Commission Chair Caroline Pham said Tuesday the agency is moving quickly to implement the White House's recommendations for enabling digital asset trading and innovation, with listed spot crypto trading expected to go live this year.
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October 21, 2025
BofA Says COVID-Era Cardholders Flip-Flop On Fraud Claims
Bank of America NA seeks a partial early win in multidistrict litigation brought over unemployment benefits cards it issued during the COVID-19 pandemic, arguing the plaintiffs went from accusing the bank of failing to stop fraud in the accounts to claiming it was too stringent with its anti-fraud measures.
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October 21, 2025
Wilson Sonsini Adds Cooley Capital Markets Pro In Calif.
Wilson Sonsini Goodrich & Rosati PC continues adding Cooley LLP attorneys to its corporate team, announcing Tuesday it is bringing in a capital markets expert as a partner in its San Francisco office.
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October 21, 2025
Coinbase Pays $375M For Echo Amid 'Full-Stack' Crypto Push
Coinbase said Tuesday it has acquired blockchain fundraising platform Echo for approximately $375 million, as the cryptocurrency giant makes its latest push to create a "full-stack" solution for crypto investors.
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October 21, 2025
Finance Co. Says Chubb Must Pay Its Part Of $5M Wire Loss
Financial services company Robert W. Baird & Co. told a Wisconsin federal court that a Chubb unit has wrongly refused to cover any of the company's more than $5 million loss stemming from fraudulent wire instructions, noting that AIG, its primary insurer, already paid a $2.5 million sublimit.
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October 21, 2025
Cleary Adds Proskauer Funds Atty Amid Changing Market
Cleary Gottlieb Steen & Hamilton LLP has hired a new global funds group attorney in Washington, D.C., who is joining the team from Proskauer Rose LLP as retail and private investment markets continue evolving, the firm announced Monday.
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October 21, 2025
Telecom Lender Carriox Units Hit Ch. 11 With $500M+ Debt
Two affiliates of telecommunications financing provider Carriox Capital filed for Chapter 11 protection in a New York bankruptcy court with between $500 million and $1 billion in debt.
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October 21, 2025
O'Melveny Adds Corporate Finance Partner In Singapore
O'Melveny & Myers LLP has added an experienced corporate finance partner from Kirkland & Ellis LLP to its Singapore office, amid an expansion of the firm's finance capabilities in Asia.
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October 20, 2025
States, DC Fight Feds' Bid To Cut Billions In OMB Grant Case
Twenty-three states and the District of Columbia have told a Massachusetts federal judge to hold onto their case challenging the Trump administration's use of "a single subclause" buried in a U.S. Office of Management and Budget regulation to shut off billions in federal grants.
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October 20, 2025
Calif. Credit Cardholders Can't Get Swipe Fee Case Do-Over
A New York federal judge who was recently assigned to a putative interchange fee class action lawsuit from California cardholders against Visa, Mastercard and major banks in long-running multidistrict litigation has denied their motion for reconsideration of another judge's reconsideration denial.
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October 20, 2025
NY AG Reaches Deal With Accounting Firm Over Data Breaches
A certified public accounting firm has agreed to pay $60,000 and improve its data security to resolve the New York attorney general's claims that it failed to adequately protect unencrypted Social Security numbers and other personal information swept up in a pair of data breaches or swiftly notify affected clients.
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October 20, 2025
OCC Chief Says Stablecoin Drain Wouldn't 'Happen Overnight'
A top U.S. banking regulator on Monday downplayed concerns that future growth in interest-earning payment stablecoins could bleed banks of deposits, saying any such shift would be gradual and closely watched by regulators, not a sudden shock to the system.
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October 20, 2025
Green Dot Investors Seek First OK For $40M Settlement
Shareholders of financial technology company Green Dot are seeking an initial nod for their $40 million deal ending proposed class action claims accusing the company of concealing declining prepaid card sales amid competition from digital banking alternatives.
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October 20, 2025
5th Circ. Affirms Fraud Conviction Of Failed Bank's Ex-CEO
A Fifth Circuit panel upheld the conviction of former First NBC Bank CEO Ashton J. Ryan Jr., who was sentenced to 14 years in prison and ordered to pay $215 million in restitution after a jury found him guilty of bank fraud and conspiracy related to the collapse of the Louisiana bank.
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October 20, 2025
Venezuela Oil Co. PDVSA To Appeal $2.86B Bond Ruling
Venezuela's state-owned oil company plans to appeal a New York federal judge's recent decision ordering it to pay $2.86 billion to bondholders, after the judge ruled last month that defaulted Venezuelan bonds were validly issued under the South American country's laws.
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October 20, 2025
Wells Fargo Borrowers Defend Mortgage Application Fees Suit
A proposed class of Wells Fargo borrowers is fighting the bank's dismissal bid of their suit, which accuses the bank of wrongfully charging them mortgage application fees and failing to provide proper refunds, arguing in California federal court that Wells Fargo's dismissal motion "mischaracterizes" the named plaintiff's claims.
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October 20, 2025
Jack Nicklaus Wins $50M In Fla. Defamation Trial
A Florida jury on Monday awarded Jack Nicklaus $50 million in his defamation lawsuit against the company named after him, finding it made false statements in a 2022 New York lawsuit over the golf legend's interest in a Saudi Arabian league and disseminated those claims to news organizations.
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October 20, 2025
2 Firms Steer $170M Merger Of Ill. Bank Holding Cos.
The holding companies of Illinois-based Heartland Bank and Trust Co. and CNB Bank & Trust NA will merge in a $170.2 million combined stock and cash transaction, the companies announced Monday.
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October 20, 2025
9th Circ. Nixes Class' Appeal For Reverse Mortgage Loan Suit
The Ninth Circuit tossed an appeal and a related rehearing bid for a proposed class action that accused a company of running an unlawful reverse mortgage loan scheme, ruling that the proposed class of homeowners has agreed with the company to voluntarily drop their appeal.
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October 20, 2025
Conn. Firm, Former Client End Cybersecurity Dispute
A Connecticut personal injury firm and its former client have reached a joint stipulation of dismissal in a federal court dispute over the firm's hacked email system and a fraudulent email that resulted in the wiring of nearly $730,000 in closing costs on a residential property.
Expert Analysis
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5 Real Estate Takeaways From Trump's Sweeping Tax Law
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.
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Series
Playing Softball Makes Me A Better Lawyer
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.
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Analyzing AI's Evolving Role In Class Action Claims Admin
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.
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11th Circ.'s FCRA Standing Ruling Offers Compliance Lessons
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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Series
Law School's Missed Lessons: Mastering Time Management
Law students typically have weeks or months to prepare for any given deadline, but the unpredictability of practicing in the real world means that lawyers must become time-management pros, ready to adapt to scheduling conflicts and unexpected assignments at any given moment, says David Thomas at Honigman.
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How Prohibiting Trigger Leads May Affect Mortgage Marketing
Recent amendments to the Fair Credit Reporting Act prohibiting the sale of trigger leads mark a significant shift in the regulatory landscape for mortgage lenders, third-party lead generators and their legal counsel, who should reevaluate lead generation strategies and compliance protocols, say Joel Herberman, Rob Robilliard and Leah Dempsey at Brownstein Hyatt.
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How Hyperlinks Are Changing E-Discovery Responsibilities
A recent e-discovery dispute over hyperlinked data in Hubbard v. Crow shows how courts have increasingly broadened the definition of control to account for cloud-based evidence, and why organizations must rethink preservation practices to avoid spoliation risks, says Bree Murphy at Exterro.
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Pemex Bribery Charges Provide Glimpse Into FCPA Evolution
A recently unsealed indictment against two Mexican nationals for allegedly bribing officials at Pemex, Mexico’s state-owned oil company, reveals that Foreign Corrupt Practices Act enforcement is adapting to new priorities, but still remains active, and compliance programs should continue apace, say attorneys at Crowell & Moring.
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CFPB Proposal Defining Consumer Risk May Add Uncertainty
Though a recent Consumer Financial Protection Bureau proposal would codify when risks to consumers justify supervisory intervention against nonbanks, furthering Trump administration plans to curtail CFPB authority, firms may still struggle to identify what could attract supervisory designation under the new rule, say attorneys at Steptoe.
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Key Points From DOJ's New DeFi Enforcement Outline
Recent remarks by the U.S. Department of Justice's Criminal Division head Matthew Galeotti reveal several issues that the decentralized finance industry should address in order to minimize risk, including developers' role in evaluating protocols and the importance of illicit finance risk assessments, says Drew Rolle at Alston & Bird.
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Earned Wage Access Providers Face State Law Labyrinth
At least 12 states have established laws or rules regulating services that allow employees to access earned wages before payday, with more laws potentially to follow suit, creating an evolving state licensing maze even for fintech providers that partner with banks, say attorneys at Venable.
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Series
Writing Musicals Makes Me A Better Lawyer
My experiences with writing musicals and practicing law have shown that the building blocks for both endeavors are one and the same, because drama is necessary for the law to exist, says Addison O’Donnell at LOIS Law.
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Genius Act Poses Strategic Hurdles For Community Banks
The pace of change in digital asset policy, including the recent arrival of the Genius Act, suggests that strategic planning should be a near-term priority for community banks, with careful attention to customer relationships, regulatory developments and the local communities they serve, say attorneys at Jones Walker.
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Series
Adapting To Private Practice: From Va. AUSA To Mid-Law
Returning to the firm where I began my career after seven years as an assistant U.S. attorney in Virginia has been complex, nuanced and rewarding, and I’ve learned that the pursuit of justice remains the constant, even as the mindset and client change, says Kristin Johnson at Woods Rogers.
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Considerations For Cos. Amid Wave Of CFPB Vacatur Bids
As some entities look to vacate prior voluntary agreements with the Consumer Financial Protection Bureau, there are several considerations companies should take into account before seeking to vacate their settlements in the current legal and regulatory environment, says Jasmine Jean-Louis at Goodwin.