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Banking
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August 29, 2025
Banker, Ex-Puerto Rico Governor Plead Guilty In Bribery Case
Former Puerto Rico Gov. Wanda Vázquez Garced and a London-based banker have agreed to plead guilty to a single charge over their roles in an alleged scheme that initially saw the banker accused of offering Garced financial support to her reelection bid in exchange for terminating a regulatory inquiry into his bank.
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August 29, 2025
Dems Urge FHFA Director To Focus On Housing Costs
Democratic senators on Friday urged Federal Housing Finance Agency Director William Pulte to focus on measures to bring housing costs down — including by forestalling any privatization of Fannie Mae and Freddie Mac — while lambasting Pulte for his role in the firing of Federal Reserve Gov. Lisa Cook.
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August 29, 2025
SEC Enters New Enforcement Era With Unlikely Leader
As the U.S. Securities and Exchange Commission prepares to welcome a new enforcement director after nearly a year without someone permanently in the role, securities industry insiders are waiting to see how the former military judge will leave her mark on an agency that is already in the midst of transformation.
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August 29, 2025
Emigrant Seeks High Court Review Of 'Reverse Redlining' Suit
Emigrant Mortgage Co. has asked the U.S. Supreme Court to review a Second Circuit decision upholding a jury verdict that found the company engaged in "reverse redlining" by targeting Black and Latino homeowners with predatory loans, arguing the appeals court broke with other circuits and made it too easy for borrowers to sue and prove disparate impact.
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August 29, 2025
RICO, Fraud Claims Tossed In LA Real Estate Investment Suit
A Georgia federal court has determined that fraud and racketeering claims from a group of Chinese and American investors in a real estate investment suit alleging a group of fraudsters duped them out of millions of dollars with bogus representations are barred by merger clauses and federal securities regulations.
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August 29, 2025
Banks Ignored Pig Butchering Scheme's Red Flags, Suit Says
A California couple who say they lost $600,000 in a so-called pig butchering investing scam have sued several financial institutions, including three banks and two fintech payment platforms, alleging the banks chose to "bury their heads in the sand" as the purported scammers took advantage of their targets.
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August 29, 2025
UK Bank Shares Sink After Report Calls For Windfall Tax
Bank stocks sank Friday in the U.K. after a think tank said the government should adopt a windfall tax on profits directly tied to the Bank of England's quantitative easing program, which is costing HM Treasury about £22 billion ($30 billion) annually.
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August 29, 2025
Atty Wants To Pause Law School Loan Case Judgment For Ex
A Florida attorney has asked a Connecticut trial court judge to pause an unjust-enrichment judgment requiring him to repay his ex-girlfriend and mother of his child over $30,000 after the court said she "unwisely" cosigned his law school loans, saying the state judgment must be stayed pending the resolution of a separate federal lawsuit between the onetime couple.
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August 29, 2025
Taxation With Representation: White & Case, Paul Weiss
In this week's Taxation With Representation, private equity firm Sycamore Partners completes its $24 billion acquisition of Walgreens Boots Alliance Inc., telecommunications company EchoStar sells wireless spectrum licenses to AT&T and Keurig Dr Pepper acquires JDE Peet's in a deal that aims to create a "global coffee champion."
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August 29, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Prosecco DOC Consortium bring an intellectual property claim against a distributor, the Serious Fraud Office bring a civil recovery claim against the ex-wife of a solicitor jailed over a £19.5 million fraud scheme, and law firm Joseph Hage Aaronson & Bremen LLP sue its former client, the bankrupt Indian tycoon Vijay Mallya. Here, Law360 looks at these and other new claims in the U.K.
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August 28, 2025
'Still A Mess': Colo. Special Session Fails To Deliver AI Clarity
During its recently concluded special session, the Colorado Legislature extended the implementation deadline for the state's groundbreaking artificial intelligence law but failed to make any substantial changes to the legislation, leaving companies to face continued uncertainty on the scope of liability and other pressing issues.
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August 28, 2025
PNC Urges Justices Not To Review Nixed USAA $218M Verdict
PNC Bank said the U.S. Supreme Court should not review a Federal Circuit decision leading to the erasure of a $218 million patent infringement verdict for USAA, which has argued the case is essentially identical to another that resulted in an opposite ruling.
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August 28, 2025
Barings Denied Ex-Employee Emails In Corporate Raid Case
Investment giant Barings LLC can't force five former employees to hand over their personal emails and text messages in a corporate-raiding suit because their current employer doesn't have them, nor does it have a right to them, a North Carolina Business Court judge ruled.
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August 28, 2025
Justices Asked To Limit Private Investment Fund Suits
A group of investment funds seeking to fend off a challenge from an activist investor are urging the U.S. Supreme Court to issue a ruling in the case that would end the ability of private parties to file contractual disputes under the Investment Company Act.
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August 28, 2025
Truist, Ex-Execs Clash In Bids To End Poaching Dispute
Charlotte, North Carolina-based Truist Financial Corp. and its mortgage banking arm resisted a bid for a pretrial win by its former executives' new employer, arguing that troves of evidence sustain its claims that over 50 employees were illegally poached, costing the bank tens of millions of dollars in losses.
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August 28, 2025
Judge Suggests Certifying Narrower US Bank Retiree Class
A Minnesota federal magistrate judge has recommended granting certification to a narrowed class of U.S. Bank retirees who claim the bank unlawfully reduced their monthly pension payments upon early retirement, following the denial of a broader certification bid in April.
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August 28, 2025
Unions Urge Judgment Blocking DOGE's Agency Access
Unions and advocacy groups asked a Washington, D.C., federal judge Thursday for a win before trial in their lawsuit claiming agencies unlawfully provided Elon Musk's Department of Government Efficiency access to sensitive data, saying the agencies departed from their usual data access procedures without explanation.
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August 28, 2025
ATM Network Investment Was $700M Ponzi Scheme, Suit Says
Four individuals have been hit with a proposed class action from an investment advisory firm, accusing them of using purported investments in ATM networks to run a $700 million Ponzi scheme.
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August 28, 2025
Accounting Firm Sued Over Breach Of Easterseals Data
A North Carolina-based accounting firm was hit with a class action on Thursday alleging it failed to protect personal information and health data of children, veterans and disabled people entrusted to it by Easterseals Inc.
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August 28, 2025
'Bitcoin Infrastructure' SPAC Files Plans To Raise $200M
Special purpose acquisition company Bitcoin Infrastructure Acquisition Corp. Ltd. has filed plans with regulators to raise up to $200 million in an initial public offering, a move that follows a pair of crypto-focused special purpose acquisition companies that began trading on Wednesday amid surging interest in digital assets.
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August 28, 2025
Compliance Atty Who Duped Lender Wants New Trial
A compliance lawyer convicted of pilfering from a $20 million line of credit that a subsidiary of Emigrant Bank extended to his tax-lien business has asked a Manhattan federal judge to order a new trial, arguing that prosecutors' evidence is insufficient and that the charges were "multiplicitous," in violation of the Fifth Amendment.
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August 28, 2025
Federal Reserve Gov. Lisa Cook Sues Trump To Block Firing
Federal Reserve Gov. Lisa Cook filed suit in federal court in Washington, D.C., on Thursday challenging President Donald Trump's "unprecedented and illegal attempt" to remove her from her position.
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August 27, 2025
Crypto Firm Can't Block Gov't Contract For Seized Assets
A U.S. Court of Federal Claims judge won't halt a government contract for the management of seized crypto after finding Wave Digital Assets isn't likely to succeed in pressing its claims that the U.S. Marshals Service acted unfairly when it awarded the job to another provider.
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August 27, 2025
2nd Circ. Says Afghan Central Bank Immune From Attachment
A divided Second Circuit panel upheld a lower court's decision rejecting plaintiffs' attempt to confirm a prejudgment attachment order concerning "blocked" funds held by the Afghan central bank, holding that the funds are immune from seizure under federal law.
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August 27, 2025
Alter Domus Says Mogul Blocked Bidders From Asset Sale
In a seemingly rare move, an administrative agent seeking fulfillment of an award worth hundreds of millions of dollars challenged an auto mogul's purchase of his own trust's assets through a judicial sale, with an attorney arguing Wednesday that the $19 million sale is significantly lower than the assets' value and was made without a fair bidding process.
Expert Analysis
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The Ins And Outs Of Consensual Judicial References
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.
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Calif. Digital Assets Proposal Provides Only Partial Clarity
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.
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Opinion
The BigLaw Settlements Are About Risk, Not Profit
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.
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Fla. Bill May Curb Suits Over Late-Night Collections Emails
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.
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Series
Brazilian Jiujitsu Makes Me A Better Lawyer
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.
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Birthright Ruling Could Alter Consumer Financial Litigation
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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Energy Order Brings Risks For Lenders And Borrowers Alike
A recent executive order directing the attorney general to submit a report next month with recommendations for halting enforcement of state laws the administration says are hampering energy resources presents risks for lenders and borrowers using state-generated carbon credits, but proactive steps now can help insulate against adverse consequences, say attorneys at Faegre Drinker.
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Series
Power To The Paralegals: An Untapped Source For Biz Roles
Law firms looking to recruit legal business talent should consider turning to paralegals, who practice several key skills every day that prepare them to thrive in marketing and client development roles, says Vanessa Torres at Lowenstein Sandler.
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Fledgling Crypto ATM Regs May Be Due For A Growth Spurt
As cryptocurrency ATM use and availability become more prevalent within the U.S. financial services ecosystem, states — only a few of which currently have a crypto ATM framework — may need to consider expanding legislation and regulation to accelerate consumer fraud protection practices, says Jason Noto at Polsinelli.
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Series
Playing Poker Makes Me A Better Lawyer
Poker is a master class in psychology, risk management and strategic thinking, and I’m a better attorney because it has taught me to read my opponents, adapt when I’m dealt the unexpected and stay patient until I'm ready to reveal my hand, says Casey Kingsley at McCreadyLaw.
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Opinion
Why It's Time To Retire The Efficient Market Hypothesis
As agentic artificial intelligence systems increasingly affect financial markets, the efficient market hypothesis no longer offers a viable foundation for legal and regulatory engagement, and a new theoretical foundation is needed, say Zachary Brenner, a student at California Western School of Law, and attorney Gary Brenner.
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Key Aspects Of FDIC's Resolution Planning FAQ
The Federal Deposit Insurance Corp.'s recent FAQ on changes to its resolution plan rule ease burdensome requirements for some large institutions and exempt others from discussion of franchise components, making it easier for banks to finalize submissions before the July 1 deadline, say attorneys at Moore & Van Allen.
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Series
Law School's Missed Lessons: Becoming A Firmwide MVP
Though lawyers don't have a neat metric like baseball players for measuring the value they contribute to their organizations, the sooner new attorneys learn skills frequently skipped in law school — like networking, marketing, client development and case evaluation — the more valuable, and less replaceable, they will be, says Alex Barnett at DiCello Levitt.
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How NY's FAIR Act Mirrors CFPB State Recommendations
New York's proposed FAIR Business Practices Act, which targets predatory lending and junk fees, reflects the Rohit Chopra-era Consumer Financial Protection Bureau's recommendations to states in a number of ways, including by defining "abusive" conduct and adding a new right to file class actions, says Christian Hancock at Bradley Arant.
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How Cos. Can Navigate Risks Of New Cartel Terrorist Labels
The Trump administration’s recent designation of eight drug cartels as foreign terrorist organizations gives rise to new criminal and civil liabilities for companies that are unwittingly exposed to cartel activity, but businesses can mitigate such risks in a few key ways, say attorneys at Steptoe.