Banking

  • July 07, 2025

    Lenders Accused Of Using Calif. Tribe To Dodge Usury Laws

    A California resident has accused River Valley Loans and some business leaders allegedly associated with the company — including the son of TV host Dr. Phil — of operating a predatory lending scheme involving the Crow Creek Sioux Tribe to make short-term, small-dollar loans with illegally high interest rates.

  • July 07, 2025

    SEC Says Adviser Posed As Clients To Approve Fee Hikes

    The U.S. Securities and Exchange Commission has sued a Chicago-based investment adviser and its owner for allegedly charging clients more than $2.5 million in unauthorized fees without clients' knowledge, accusing them of posing as clients to approve the fees online in some instances.

  • July 07, 2025

    11th Circ. Backs UBS' $6.5M Arbitration Win

    The Eleventh Circuit has rejected a Puerto Rican man's bid to vacate a roughly $6.5 million arbitration award given to UBS Financial Services Inc. that stems from a long-running account contract dispute, finding there was no misconduct in the proceedings.

  • July 07, 2025

    Ex-Essential Oil Co. Manager Gets 6 Years For Fraud

    A former manager of an essential oils company was sentenced to nearly six years in federal prison Monday for his role in an embezzlement scheme that stripped his employer of more than $29 million and awarded him millions in kickbacks he hid from the IRS, according to the U.S. Department of Justice.

  • July 07, 2025

    PHH Mortgage Loan Officers Urge NJ Court To Halt Calif. Deal

    A California state court's decision to preliminarily approve a settlement in a case against PHH Mortgage would prevent California mortgage loan officers from pursuing their claims in their New Jersey federal court proceedings, two California workers told the New Jersey court.

  • July 07, 2025

    Asset Manager's Suit Against Lowenstein Sandler Tossed

    A New York state judge has handed an early win to Lowenstein Sandler LLP against allegations it provided faulty advice in a client's bankruptcy, finding the asset manager that brought the suit was simply attempting "to shift the financial cost of the troubled company's failed business from its owners to its lawyers."

  • July 07, 2025

    Catching Up With Delaware's Chancery Court

    In Delaware in the past week, a vice chancellor awarded just $1 in damages to a China-tied company looking to secure a $50 million stake in SpaceX while also slamming the fund's manager for acting "insincerely," Tyson Foods won $55 million in damages in a suit claiming the owner of two poultry rendering plants Tyson acquired hid that it relied on a "disfavored" practice of recovering "unappetizing remnants of butchered chickens," and a suit over a one-site bank's 11-aircraft fleet was moved into the discovery phase.

  • July 03, 2025

    BofA Beats Class Cert. Bid Over Vacation Pay, For Now

    A California federal judge Thursday refused to certify three putative classes of former Bank of America employees who accused the bank of not paying them their accrued, unused vacation time, saying a proposed class representative seemingly wasn't eligible for vacation time accrual.

  • July 03, 2025

    FDIC's Consumer Compliance Enforcement Surged In 2024

    The Federal Deposit Insurance Corp. hit banks with a surge of consumer protection-related enforcement actions in the final year of the Biden administration, issuing the largest total dollar amount of fines in almost a decade, according to a new report from the agency.

  • July 03, 2025

    Merchants' Suit Against Bank And Payment Co. Gets Trimmed

    An Ohio federal judge has trimmed two online merchants' claims that bank Pathward Financial Inc. and its partner payment company PayNetWorx LLC misrepresented fees and their compliance with card network rules, saying certain contracts may hold the bank liable for the payment company's alleged fraud but may bar some other claims.

  • July 03, 2025

    Experian Can Arbitrate Customer's FCRA Suit, 11th Circ. Says

    Experian can arbitrate a customer's lawsuit alleging it failed to reasonably ensure the accuracy of her credit files after a fraudulent $26,922 car loan was reported, the Eleventh Circuit ruled Thursday, finding Experian provided competent, unrebutted evidence of her agreement to arbitrate after enrolling in credit-monitoring services with its affiliate. 

  • July 03, 2025

    Planet Hollywood Blames BankUnited For $6M PPP Loan Debt

    Planet Hollywood sued BankUnited on Wednesday, claiming the Miami-based bank misled the restaurant company and related entities in their applications for COVID-19 relief loans, leaving them on the hook for more than $6 million in debt that could have otherwise been forgiven.

  • July 03, 2025

    Dems Query Banks On Any Zelle Fraud Link To Social Media

    Top Democratic lawmakers are questioning major banks on how they're protecting customers from "significant scams and fraud" via Zelle, in light of JPMorgan Chase's recent decision to block transactions that originate from social media on the peer-to-peer payment platform.

  • July 03, 2025

    CFPB Funding Cut Could Alter Injunction Calculus At DC Circ.

    The steep funding cut that Republicans have passed for the Consumer Financial Protection Bureau could strengthen the Trump administration's position in its court fight to resume downsizing the agency, even if it doesn't directly resolve the legal questions at play.

  • July 03, 2025

    CMA To Review Global Payments' $24.2B Worldpay Deal

    British competition officials said this week that they were beginning their initial evaluation of Global Payments Inc.'s plans, unveiled earlier this year, to purchase payments giant Worldpay from GTCR and FIS for $24.25 billion.

  • July 03, 2025

    Fla. Court Rejects Oral Pact Cutting Loan Interest To 7%

    A Florida state appeals court has sided with a Nevada-based lender, reversing an oral agreement to reduce interest on a $2.6 million loan from 25% to 7%, saying such agreements must be in writing.

  • July 03, 2025

    Circuit-By-Circuit Recap: Justices Send Message To Outliers

    It was a tough term at the U.S. Supreme Court for two very different circuits — one solidly liberal, one solidly conservative — that had their rulings overturned in eye-popping numbers. But it was another impressive year for a relatively moderate circuit that appears increasingly simpatico with the high court.

  • July 03, 2025

    The Moments That Shaped The Universal Injunction Case

    The U.S. Supreme Court voted along ideological lines when it hindered the ability of federal district court judges to issue nationwide pauses on presidential policies, but that outcome didn't seem like a foregone conclusion during oral arguments earlier this year. What do the colloquies suggest about the justices' thinking? Here are some moments that may have swayed them.

  • July 03, 2025

    Ex-Treasury Official Joins Covington's Nat'l Security Practice

    Covington & Burling LLP has boosted its national security practice with the hire of the former head of the U.S. Department of the Treasury's Office of Terrorism and Financial Intelligence under former President Barack Obama's administration as of counsel.

  • July 03, 2025

    Illinois Cases To Watch In 2025: Midyear Report

    The impact of regulatory permits on insurance policy pollution exclusions, the debate over ditching two-step collective certifications and further interpretation of Illinois' biometric privacy law are at the heart of some of the state's biggest cases to watch through the end of the year.

  • July 03, 2025

    The Firms That Won Big At The Supreme Court

    The number of law firms juggling three or more arguments before the U.S. Supreme Court this past term nearly doubled from the number of firms that could make that claim last term.

  • July 03, 2025

    Breaking Down The Vote: The High Court Term In Review

    The U.S. Supreme Court once again waited until the term's closing weeks — and even hours — to issue some of its most anticipated and divided decisions.

  • July 03, 2025

    Capital Markets Upturn Sets Stage For Second-Half Rebound

    Deals attorneys are approaching the second half of 2025 increasingly confident that capital markets' activity will accelerate despite potential headwinds stemming from higher tariffs, interest rate uncertainties and geopolitical turmoil.

  • July 02, 2025

    Amid DEI Uncertainty, Cos. Face Pressure From All Sides

    Attorneys have been analyzing the Trump administration's many pronouncements against diversity, equity and inclusion programs over the past several months, only to be left with questions as to what exactly "illegal DEI" is and what the government will do to police it.

  • July 02, 2025

    East West, Cathay Accused Of Enabling $20M NFT Fraud

    A Texas investor who says he lost millions in a romance-driven NFT scam has expanded his legal battle, suing East West Bank and Cathay Bank in California federal court for allegedly ignoring red flags while scammers used accounts at the banks to siphon nearly $17 million from his family trusts.

Expert Analysis

  • Series

    Law School's Missed Lessons: Supporting A Trial Team

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    While students often practice as lead trial attorneys in law school, such an opportunity likely won’t arise until a few years into practice, so junior associates should focus on honing skills that are essential to supporting a trial team, including organization, adaptability and humility, says Lucy Zelina at Tucker Ellis.

  • CFPB Industry Impact Uncertain Amid Priority Shift, Staff Cuts

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    A recent enforcement memo outlines how the Consumer Financial Protection Bureau's regulatory agenda diverges from that of the previous administration, but, given the bureau's planned reduction in force, it is uncertain whether the agency will be able to enforce these new priorities, say attorneys at Troutman Pepper.

  • Lessons From FTC Action On Dark Patterns In User Interfaces

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    The Federal Trade Commission's recent complaint against Uber for its billing and cancellation practices comes amid other actions addressing consumer confusion and deception, so it is paramount to deploy tools that assess customers' cognitive states of mind to separate lawful marketing from misconduct, says Ceren Canal Aruoba at Berkeley Research Group.

  • SEC Staff Input Eases Path For Broker-Dealer Crypto Activities

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    Recent guidance from U.S. Securities and Exchange Commission staff on broker-dealer and transfer agent crypto-asset activities suggests a more constructive regulatory posture on permissibility and application of financial responsibility rules, bringing welcome clarity for blockchain market participants and traditional financial institutions alike, say attorneys at Sidley.

  • Compliance Essentials To Mitigate AI Crime Enforcement Risk

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    As artificial intelligence systems move closer to accurately mimicking human decision-making, companies must understand how the U.S. Department of Justice might prosecute them for crimes committed by AI tools — and how to mitigate enforcement risks, say attorneys at Paul Hastings.

  • Series

    Adapting To Private Practice: From US Attorney To BigLaw

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    When I transitioned to private practice after government service — most recently as the U.S. attorney for the Eastern District of Virginia — I learned there are more similarities between the two jobs than many realize, with both disciplines requiring resourcefulness, zealous advocacy and foresight, says Zach Terwilliger at V&E.

  • 11th Circ. Ruling Warns Parties To Follow Arbitral Rules

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    The Eleventh Circuit's recent decision in Merritt Island Woodwerx v. Space Coast is important for companies utilizing arbitration clauses because it clearly demonstrates the court's intent to hold noncompliant parties responsible in federal court — regardless of subsequent efforts to cure, says Ed Mullins at Reed Smith.

  • How The DOJ Is Redesigning Its Approach To Digital Assets

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    Two key digital asset enforcement policy pronouncements narrow the Justice Department's focus on threats like fraud, terrorism, trafficking and sanctions evasion and dial back so-called regulation by prosecution, but institutions prioritizing compliance must remember that the underlying statutory framework hasn't changed, say attorneys at Blank Rome.

  • At 'SEC Speaks,' Leaders Frame New Views

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    At the Practising Law Institute's recent SEC Speaks conference, U.S. Securities and Exchange Commission leadership highlighted the agency's significant priority changes, including in enforcement, crypto and artificial intelligence, say attorneys at Perkins Coie.

  • The Ins And Outs Of Consensual Judicial References

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    As parties consider the possibility of judicial reference to resolve complex disputes, it is critical to understand how the process works, why it's gaining traction, and why carefully crafted agreements make all the difference, say attorneys at Pillsbury.

  • Calif. Digital Assets Proposal Provides Only Partial Clarity

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    Recently proposed regulations under California's Digital Financial Assets Law answer some important questions about the new regime, particularly regarding its interaction with the state's money transmission law, but many key compliance questions remain, say attorneys at Stinson.

  • Opinion

    The BigLaw Settlements Are About Risk, Not Profit

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    The nine Am Law 100 firms that settled with the Trump administration likely did so because of the personal risk faced by equity partners in today's billion‑dollar national practices, enabled by an ethics rule primed for modernization, says Adam Forest at Scale.

  • Fla. Bill May Curb Suits Over Late-Night Collections Emails

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    A recently passed Florida bill exempting email communications from the Florida Consumer Collection Practices Act's quiet hours ban may significantly reduce frivolous lawsuits aimed at creditors and debt collectors who use email communications to collect outstanding balances from consumers, say attorneys at Holland & Knight.

  • Series

    Brazilian Jiujitsu Makes Me A Better Lawyer

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    Competing in Brazilian jiujitsu – often against opponents who are much larger and younger than me – has allowed me to develop a handful of useful skills that foster the resilience and adaptability necessary for a successful legal career, says Tina Dorr of Barnes & Thornburg.

  • Birthright Ruling Could Alter Consumer Financial Litigation

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    The U.S. Supreme Court’s upcoming decision about the validity of the nationwide injunctions in the birthright citizenship cases, argued on May 15, could make it much harder for trade associations to obtain nationwide relief from the Consumer Financial Protection Bureau's enforcement of invalid regulations, says Alan Kaplinsky at Ballard Spahr.

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