Banking

  • February 04, 2026

    Fintech Exec Wins Toss Of $150M Fraud Case After Mistrial

    A Massachusetts federal judge Wednesday said she had no choice but to dismiss charges against a former executive over an alleged $150 million credit card payment fraud scheme on double jeopardy grounds following a mistrial last year.

  • February 04, 2026

    TMX Wants $52M Penalty From Pa. Banking Regulators Axed

    A TitleMax affiliate urged a Pennsylvania Commonwealth Court panel on Wednesday to strike down a $52 million penalty that state banking regulators have lodged against it over alleged usury law violations, arguing that the disputed loans it provided to state residents were neither negotiated nor made in the Keystone State.

  • February 03, 2026

    OCC Urged To Scrap Escrow 'Giveaway' To Banks

    Consumer advocates are urging the Office of the Comptroller of the Currency to abandon proposals they say would let national banks unfairly profit off homeowners' escrowed money, warning the plan unlawfully revives a rejected deregulatory playbook.

  • February 03, 2026

    Ex-Fed Adviser Acquitted Of Espionage Conspiracy Charge

    A Washington, D.C., federal jury Tuesday acquitted a former senior adviser to the Federal Reserve Board of Governors of conspiring to steal confidential data for Chinese intelligence.

  • February 03, 2026

    Calif. Cardholders Ask 2nd Circ. To Revive Swipe Fee Suit

    California cardholders accusing Visa, Mastercard and other major banks of conspiring to fix interchange fees have asked the Second Circuit to revive their claims after a district court judge denied their motion for reconsideration in a long-running multidistrict litigation.

  • February 03, 2026

    Wachtell Lipton, Davis Polk Steer $12B Santander Deal

    Wachtell Lipton Rosen & Katz and Davis Polk & Wardwell LLP are guiding Banco Santander SA's $12.3 billion cash-and-stock acquisition of Webster Financial Corp., according to an announcement made Tuesday.

  • February 03, 2026

    SEC Tosses Biden-Era Case Against Wyoming Crypto Co.

    The U.S. Securities and Exchange Commission has walked away from an attempt to block the issuance of a pair of digital tokens offered by a Wyoming-based company, saying that changes in federal policy toward the cryptocurrency industry necessitated an end to the administrative proceedings.

  • February 03, 2026

    Trump Admin Can't Gut CFPB Off The Books, DC Circ. Told

    The Consumer Financial Protection Bureau's employee union has urged the full D.C. Circuit to uphold a lower court order blocking sweeping cuts at the agency, arguing the Trump administration's legal theory for lifting the order would allow officials to dismantle an agency so long as they don't "put it in writing."

  • February 03, 2026

    Ex-BofA Banker Cops To Role In Medicare Fraud Scheme

    A former Bank of America banker copped to a money laundering conspiracy charge Tuesday in New York federal court in connection with a transnational scheme that made over $8 billion in fraudulent Medicare claims for glucose monitors and urinary catheters that were medically unnecessary, according to the U.S. Department of Justice.

  • February 03, 2026

    Mass. AG Sues Bitcoin ATM Co. For Allegedly Enabling Scams

    A major bitcoin ATM operator is facing allegations from the Massachusetts attorney general's office that it does little to prevent customers from falling prey to cryptocurrency scams as it profits from the transactions, in a new complaint filed on Tuesday.

  • February 03, 2026

    OCC's Ex-Chief Of Enforcement Joins Morgan Lewis In DC

    A former acting director of enforcement at the Office of the Comptroller of the Currency has joined Morgan Lewis & Bockius LLP's financial regulatory and enforcement litigation and investment management practices in Washington, D.C., marking his first move into private practice following an extensive career in public service.

  • February 03, 2026

    2nd Circ. Keeps Credit Suisse Collapse Suit Out Of US Courts

    The Second Circuit on Tuesday declined to revive a shareholder suit accusing Credit Suisse and related entities of misconduct leading up to the bank's collapse, holding that a New York judge was not wrong to find that the litigation is overwhelmingly tied to Switzerland.

  • February 02, 2026

    NBA Star Says He Didn't Know Of Ex-Adviser's Self-Dealing

    Portland Trail Blazers star Jrue Holiday on Monday told a Manhattan federal jury that he didn't know that his former Morgan Stanley financial adviser was also on the other side of the NBA star's investment in a $10 million life insurance deal, saying it would have been a dealbreaker if he had known.

  • February 02, 2026

    Wheeling & Appealing: The Latest Must-Know Appellate Action

    What happened to a GOP donor's $250,000 Swiss watch? Can cigarette warnings show jarring medical images? Will a circuit split of "far-reaching importance" for arbitration get even wider? That's a taste of the oral argument menu we'll help you digest in this preview of February's top appellate action.

  • February 02, 2026

    Broker-Dealer Fined $750K Over Text Message Recordkeeping

    Benjamin F. Edwards & Co. Inc. has agreed to a censure and $750,000 fine to settle the Financial Industry Regulatory Authority's allegations that the broker-dealer failed to properly supervise and preserve its employees' business-related text messages.

  • February 02, 2026

    Investment Funds Pro Rejoins Davis Polk From Paul Weiss

    A private funds and investment management regulatory lawyer is returning to Davis Polk & Wardwell LLP as a partner in the firm's New York office after spending nearly four years with Paul Weiss Rifkind Wharton & Garrison LLP, where he served as head of the firm's investment management regulation practice.

  • February 02, 2026

    US Bancorp Beats Suit Over Brokerage Cash-Sweep Program

    A Minnesota federal judge permanently threw out a proposed class action accusing U.S. Bancorp and its brokerage unit of shortchanging customers on interest through a cash-sweep program, finding in part that the bank never promised customers a particular minimum interest rate.

  • February 02, 2026

    Fla. Financial Adviser Gets 20 Years For $94M Fraud

    A Florida federal judge Monday sentenced a financial adviser to 20 years in prison after he pled guilty to orchestrating a Ponzi-like scheme that defrauded $94 million from victims, including the elderly and Catholic priests in Venezuela. 

  • January 30, 2026

    Conn. Justices Free Calif. Woman From Tax Bank Seizure

    The Connecticut Supreme Court ruled Friday that a tax collector cannot recover a shuttered company's debts from a California woman's personal bank accounts, saying the case presented an issue of first impression that has "vexed legal scholars" and "spawned a split of authority" among and within federal and state courts.

  • January 30, 2026

    Baltimore Sues Payday Lender Dave Over 'Usurious' Loans

    The city of Baltimore sued Los Angeles-based lender Dave Inc. in state circuit court Friday, alleging that the financial technology company disguises high-interest payday loans as "overdraft services," while charging "astounding, usurious" annual percentage rates exceeding 2,500%, which is far above Maryland's 33% legal limit.

  • January 30, 2026

    Ex-TD Bank Employee Cops To Helping Launder Drug Money

    A former TD Bank NA employee who worked in Florida has pleaded guilty to accepting bribes and assisting in a money laundering scheme that illicitly sent millions of dollars in narcotics proceeds from the United States to Colombia while employed by the bank.

  • January 30, 2026

    1st Circ. Upholds Atty's 7-Year Sentence In Email Fraud Case

    A panel of the First Circuit has affirmed a more than seven-year prison term and $2 million restitution order for an Illinois lawyer convicted of collecting proceeds from a romance and real estate email fraud scheme.

  • January 30, 2026

    Taxation With Representation: Clifford Chance, Ropes & Gray

    In this week's Taxation With Representation, real estate investment trust Apollo Commercial Real Estate Finance Inc. announces plans to sell a loan portfolio to retirement services company Athene Holding Ltd., engineering and technology company Leidos acquires Entrust Solutions Group, and Prosperity Bancshares Inc. and Stellar Bancorp Inc. announce a merger.

  • January 30, 2026

    NJ Panel OKs Bank's COD Denial For Family Dollar Build

    A New Jersey appeals panel on Friday found that a bank was within its rights to refuse to fund cash-on-delivery payment for a prefabricated steel structure a developer planned to use on a project to build a Family Dollar store.

  • January 30, 2026

    Warsh Clinches Trump's Nomination For Fed Chair

    President Donald Trump is nominating former Federal Reserve Gov. Kevin Warsh to lead the central bank as its next chairman, elevating a critic of the Fed's leadership as the White House pushes against its traditional independence.

Expert Analysis

  • 3 Key Ohio Financial Services Developments From 2025

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    Ohio's banking and financial services sector saw particularly notable developments in 2025, including a significant Ohio Supreme Court decision on creditor disclosure duties to guarantors in Huntington National Bank v. Schneider, and some major proposed changes to the state's Homebuyer Plus program, says Alex Durst at Durst Kerridge.

  • Series

    Playing Tennis Makes Me A Better Lawyer

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    An instinct to turn pain into purpose meant frequent trips to the tennis court, where learning to move ahead one point at a time was a lesson that also applied to the steep learning curve of patent prosecution law, says Daniel Henry at Marshall Gerstein.

  • OCC Rulemaking May Clear Haze Around Trust Banks' Scope

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    A recent Office of the Comptroller of the Currency proposal at last eliminates uncertainty around whether national trust banks can engage in nonfiduciary activities, but it does not address which activities are permissible or whether a minimum amount of fiduciary activity is required, say attorneys at Davis Polk.

  • Justices' BDO Denial May Allow For Increased Auditor Liability

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    The Supreme Court's recent denial of certiorari in BDO v. New England Carpenters could lead to more actions filed against accounting firms, as it lets stand a 2024 Second Circuit ruling that provided a road map for pleading falsity with respect to audit certifications, says Dean Conway at Carlton Fields.

  • Digital Assets May Be In For A Growth Spurt In 2026

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    All signs point to an acceleration in digital asset product and service innovation throughout 2026, and while questions of first impression still need to be addressed, some legal issues will be clarified, spurring developments namely on the tokenization and stablecoin fronts, say attorneys at Skadden.

  • Series

    Judges On AI: How Judicial Use Informs Guardrails

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    U.S. Magistrate Judge Maritza Dominguez Braswell at the U.S. District Court for the District of Colorado discusses why having a sense of how generative AI tools behave, where they add value, where they introduce risk and how they are reshaping the practice of law is key for today's judges.

  • Crypto-Asset Strategy For Corporate Legal Leaders In 2026

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    As digital assets experience increased regulatory clarity, institutional adoption and technological maturity, in-house legal leaders must build strong policies this year and stay engaged with the evolving market to help their companies seize the opportunities of the digital asset era while managing the risks, say attorneys at Foley & Lardner.

  • Cybersecurity Must Remain Financial Sector's Focus In 2026

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    In 2026, financial institutions face a wave of more prescriptive cybersecurity legal requirements demanding clearer governance, faster incident reporting, and stronger oversight of third-party and AI-driven risks, making it crucial to understand these issues before they materialize into crises, say attorneys at Sidley.

  • Presidential Pardon Brokering Can Create Risks For Attys

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    The emergence of an apparent “pardon shopping” marketplace, in which attorneys treat presidential pardons as a market product, may invite investigative scrutiny of counsel and potential criminal charges grounded in bribery, wire fraud and other statutes, says David Klasing at The Tax Law Offices of David W. Klasing.

  • Series

    Adapting To Private Practice: 5 Tips From Ex-SEC Unit Chief

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    My move to private practice has reaffirmed my belief in the value of adaptability, collaboration and strategic thinking — qualities that are essential not only for successful client outcomes, but also for sustained professional satisfaction, says Dabney O’Riordan at Fried Frank.

  • Series

    Law School's Missed Lessons: How To Start A Law Firm

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    Launching and sustaining a law firm requires skills most law schools don't teach, but every lawyer should understand a few core principles that can make the leap calculated rather than reckless, says Sam Katz at Athlaw.

  • 5 Compliance Takeaways From FINRA's Oversight Report

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    The priorities outlined in the Financial Industry Regulatory Authority's recently released annual oversight report focus on the organization's core mission of protecting investors, with AI being the sole new topic area, but financial firms can expect further reforms aimed at efficiency and modernization, say attorneys at Armstrong Teasdale.

  • How SEC Civil Penalties Became Arbitrary: 3 Potential Fixes

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    Data shows that the U.S. Securities and Exchange Commission's seemingly unlimited authority to levy monetary penalties on market participants has diverged far from the federal securities laws' limitations, but three reforms can help reverse the trend, say David Slovick at Kopecky Schumacher and Phil Lieberman at Vanderbilt Law.

  • How Payments Law Landscape Will Evolve In 2026

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    After a year of change across the payments landscape, financial services providers should expect more innovation and the pushing of regulatory boundaries, but should stay mindful that state regulators and litigation will continue to challenge the status quo, say attorneys at Troutman.

  • Opportunities Amid The Challenges Of Trump's BIS Shake-Up

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    The Trump administration’s continuing overhaul of the Bureau of Industry and Security has created enormous practical challenges for export compliance, but it potentially also offers a once-in-a-generation opening to advocate for simplifying and rationalizing U.S. export controls, say attorneys at Gibson Dunn.

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