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December 23, 2025
Trump Admin Beats Chamber Suit Over $100K H-1B Visa Fee
A Washington, D.C., federal judge on Tuesday refused to block the Trump administration's new $100,000 H-1B visa fee, ruling in the U.S. Chamber of Commerce's lawsuit challenging the fee that President Donald Trump has "broad authority" to restrict noncitizens' entry.
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December 23, 2025
OCC Wants To Preempt State Mortgage Escrow Interest Laws
The Office of the Comptroller of the Currency has unveiled a pair of proposals aiming to, among other things, preempt state laws requiring banks it regulates to make interest payments for escrow accounts connected to certain types of residential mortgage loans, calling it a "critical tool for reducing unnecessary burden."
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December 23, 2025
OCC Wants 'Heightened Standards' Only For Biggest Banks
The Office of the Comptroller of the Currency on Tuesday said it is moving to amend its heightened standards guidelines for insured national banks to decrease the number of lenders subject to the toughest standards from 38 to eight.
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December 23, 2025
CFPB Says Earned Wage Access Products Aren't Loans
The Consumer Financial Protection Bureau has determined that "earned wage access" products are generally not considered credit covered by the Truth in Lending Act, while withdrawing a Biden-era proposed interpretive rule that would have identified all such products as credit.
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December 23, 2025
CFPB Shifts Focus To Debanking, Intentional Discrimination
To align with objections set by the Trump administration, the Consumer Financial Protection Bureau is turning its attention to "debanking" moving forward and has closed all open investigations that were based on disparate impact liability or unintentional discrimination.
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December 23, 2025
Klarna Faces Investor Alleging IPO Risk Misrepresentations
Klarna Group PLC has been hit with a proposed class action from an investor alleging the payments company damaged shareholders by failing to disclose the risks of its "buy now, pay later" loans typically issued to financially insecure consumers ahead of its initial public offering earlier this year.
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December 23, 2025
Conn. Judge Halts Deutsche Bank's Norway Suit Against Viks
A Connecticut state judge has granted a temporary injunction blocking Deutsche Bank AG from pursuing a lawsuit against billionaire Alexander Vik and his daughter in Norway, and separately struck the Viks' claim for a broader injunction to prevent Deutsche Bank from suing them again over a judgment in an English court.
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December 23, 2025
Federal Agencies Urge 9th Circ. To Lift Layoff Freeze
The U.S. government urged the Ninth Circuit to stay a court order barring agencies from laying off workers through next month under the shutdown deal, saying the court intruded on federal labor panels' territory and the funding resolution didn't bar layoffs agencies had in the works.
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December 23, 2025
Notable Pennsylvania Legislation Of 2025
Pennsylvania's much-delayed 2025 budget bill contained some big public-policy changes like ending a carbon cap-and-trade program, offering an $800 income tax credit and providing stopgap funding for mass transit, even as its domination of the state Legislature's time prevented much else from passing, attorneys told Law360 in reviewing major laws that passed in the last year.
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December 23, 2025
Greenberg Traurig-Led Silicon Valley SPAC Raises $200M
Special purpose acquisition company Silicon Valley Acquisition Corp. began trading publicly on Tuesday after raising $200 million in its initial public offering, with plans to pursue an acquisition of a company undergoing "structural transformation."
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December 23, 2025
Rent-To-Own Co. FlexShopper Hits Ch. 11 After Fraud Claims
FlexShopper, a company offering lease-to-own services for appliances and electronics, has filed for Chapter 11 protection in the Delaware bankruptcy court, listing more than $100 million in debt and alleging its former CEO used forged documents to secure financing for the firm before its collapse.
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December 22, 2025
JPMorgan Rips Javice Attys' 'Absurd' Bills For Candy, Booze
JPMorgan has unveiled new details in its ongoing legal fee fight with Charlie Javice, accusing the convicted financial aid startup founder's Quinn Emanuel defense counsel and other firms of billing for "absurd" and "outrageous" expenses, including specialty cocktails, cellulite butter, a Cookie Monster toy and $530 on gummy bears.
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December 22, 2025
NY's James, 21 Other Dem AGs Say CFPB Defunding Unlawful
New York Attorney General Letitia James led a coalition of nearly two dozen Democratic attorneys general in claiming the Trump administration's effort to defund the Consumer Financial Protection Bureau is illegal, telling an Oregon federal court Monday the municipalities are statutorily entitled to the CFPB's resources
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December 22, 2025
Hochul Signs AG James' Bill To Expand Consumer Law
New York Gov. Kathy Hochul has signed into law New York Attorney General Letitia James' legislation to expand the state's ban on deceptive business practices to also protect against unfair and abusive practices, in the first updates to the state's primary consumer protection law in 45 years.
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December 22, 2025
PayPal Pares Bias Suit Over Minority-Focused Economic Fund
A New York federal judge trimmed down a venture capital firm CEO's lawsuit accusing PayPal of discriminating against Asian Americans in a $500 million economic opportunity fund for Black- and minority-led businesses in 2020, allowing two claims against the financial technology company to go forward while tossing a couple of others.
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December 22, 2025
Major Banks Want Loan Rate Collusion Suit Tossed
Several major banks urged a Connecticut federal judge to toss a proposed class action alleging that for the past 30 years, they have been artificially inflating interest rates on variable-rate loans to consumers and small businesses, arguing the suit fails to plead evidence of a conspiracy among the banks.
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December 22, 2025
CFTC Acting Chair Departs As New Leader Sworn In
The U.S. Commodity Futures Trading Commission's acting chair said Monday she would leave the agency at the end of the day, an announcement that followed the approval of her successor and her previous announcement that she is taking a role at a cryptocurrency company.
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December 22, 2025
First Brands Can Access $60M In 'Trapped' Funds
A Texas bankruptcy judge said Monday that auto-parts maker First Brands Group can access about $60 million in cash held by customers or stuck in segregated accounts, while setting up a January hearing to handle the debtor's proposed process to reconcile $3 billion in third-party factoring agreements with pending invoices.
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December 22, 2025
Qatar Bank Says $1B Sudan Award Can Be Enforced
Qatar National Bank pressed its case against the Bank of South Sudan's bid to avoid enforcement of a $1 billion arbitral award that found South Sudan defaulted on a $700 million loan agreement from its civil war era, arguing Friday that the Sudanese bank is seeking "an impermissible appeal of unfounded issues."
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December 22, 2025
4 Robbins Geller Attys To Join New Securities Boutique
The managing partner of the New York City office of midsized law firm Robbins Geller Rudman & Dowd LLP is leaving with three other securities partners to join a new securities boutique that was launched by a lawyer who recently left Bernstein Litowitz Berger & Grossmann LLP in a contentious exit.
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December 22, 2025
Jury Deadlocks In Ex-NY Gov. Aide's Foreign Agent Case
A Brooklyn federal judge on Monday declared a mistrial in a case alleging a former top aide to two New York governors did the bidding of the People's Republic of China at the highest levels of state government in exchange for millions of dollars, after the jury deadlocked on all charges.
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December 22, 2025
New Class Action Claims CIBC, RBC Rigged Quantum Shares
A Quantum Biopharma investor has filed a proposed class action against several major Canadian banks, accusing them of running a spoofing scheme for years that artificially drove down Quantum's stock price — flooding exchanges with fake sell orders to mislead the market and buy shares at deflated prices, costing ordinary shareholders millions.
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December 19, 2025
PHH's $29.5M Kickback Deal Gets Final OK After 17 Years
After 17 years of litigation, a certified class of homeowners got the final stamp of approval in California federal court for a $29.5 million settlement with PHH Mortgage and its captive reinsurer, both of which homeowners alleged received unlawful kickbacks from premiums paid for mortgage insurance.
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December 19, 2025
Fed Seeks Input On Limited Master Accounts For Fintechs
The Federal Reserve Board on Friday took another step toward rolling out what are known as skinny master accounts for fintech firms, requesting public feedback on a special purpose Reserve Bank account prototype "tailored to the risks and needs of institutions focused on payments innovation."
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December 19, 2025
Wells Fargo Sued By Ex-Exec Over 'Fake' Diversity Interviews
A former Wells Fargo executive has filed suit in California federal court, accusing the bank of systemic racial discrimination against Black employees and customers and alleging that he was retaliated against for challenging these practices.
Expert Analysis
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6 Shifts In Trump Tax Law May Lend A Hand To M&A Strategy
Changes in the Trump administration's recent One Big Beautiful Bill Act stand to create a more favorable environment for mergers and acquisitions, including full bonus depreciation and an expanded code section, say attorneys at K&L Gates.
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How Crypto Embrace Will Affect Banks And Credit Unions
The second Trump administration has moved aggressively to promote crypto-friendly reforms and initiatives, and as the embrace of stablecoins and distributed ledger technology grows, community banks and credit unions should think strategically as to how they might use these innovations to best serve their customers, says Jay Spruill at Woods Rogers.
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In NY, Long COVID (Tolling) Still Applies
A series of pandemic-era executive orders in New York tolling state statutes of limitations for 228 days mean that many causes of action that appear time-barred on their face may continue to apply, including in federal practice, for the foreseeable future, say attorneys at Sher Tremonte.
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New Conn. Real Estate Laws Will Reshape Housing Landscape
With new legislation tackling Connecticut's real estate landscape, introducing critical new requirements and legal ambiguities that demand careful interpretation, legal counsel will have to navigate a significantly altered and more complex regulatory environment, say attorneys at Harris Beach.
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Opinion
Expert Reports Can't Replace Facts In Securities Fraud Cases
The Ninth Circuit's 2023 decision in Nvidia v. Ohman Fonder — and the U.S. Supreme Court's punt on the case in 2024 — could invite the meritless securities litigation the Private Securities Litigation Reform Act was designed to prevent by substituting expert opinions for facts to substantiate complaint assertions, say attorneys at A&O Shearman.
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Iran Sanctions Snapback Raises Global Compliance Risks
The reimplementation of U.N. sanctions targeting Iran’s nuclear program, under a Security Council resolution's snapback mechanism, and related actions in Europe and the U.K., may change U.S. due diligence expectations and enforcement policies, particularly as they apply to non-U.S. businesses that do business with Iran, says John Sandage at Berliner Corcoran.
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3rd Circ. Ruling Forces A Shift In Employer CFAA Probes
The Third Circuit's recent ruling in NRA Group v. Durenleau, finding that "unauthorized access" requires bypassing technical barriers rather than simply violating company policies, is forcing employers to recalibrate insider misconduct investigations and turn to contractual, trade secret and state-level claims, say attorneys at Sidley.
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Glimmers Of Clarity Appear Amid Open Banking Disarray
The Consumer Financial Protection Bureau's vacillation over data rights rules has created uncertainty, but a recent proposal is a strong signal that open banking regulations are here to stay, making now the ideal time for entities to take action to decrease compliance risk, says Adam Maarec at McGlinchey Stafford.
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Opinion
High Court, Not A Single Justice, Should Decide On Recusal
As public trust in the U.S. Supreme Court continues to decline, the court should adopt a collegial framework in which all justices decide questions of recusal together — a reform that respects both judicial independence and due process for litigants, say Michael Broyde at Emory University and Hayden Hall at the U.S. Bankruptcy Court for the District of Delaware.
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FTC's Consumer Finance Pivot Brings Industry Pros And Cons
An active Federal Trade Commission against the backdrop of a leashed Consumer Financial Protection Bureau will be welcomed by most in the consumer finance industry, but the incremental expansion of the FTC's authority via enforcement actions remains a risk, say attorneys at Hudson Cook.
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How A New BIS Rule Greatly Expands Export Restrictions
The newly effective affiliates rule from the U.S. Department of Commerce's Bureau of Industry and Security restricts exports to foreign companies that are 50% or more owned by entities listed on the BIS entity list and the military end-user list — a major shift in U.S. export control enforcement, say attorneys at Simpson Thacher.
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What Cross-Border Task Force Says About SEC's Priorities
The formation of the U.S. Securities and Exchange Commission's cross-border task force, focused on investigating U.S. federal securities law violations overseas, underscores Chairman Paul Atkins' prioritization of classic fraud schemes, particularly involving foreign entities, say attorneys at Cleary.
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Series
Traveling Solo Makes Me A Better Lawyer
Traveling by myself has taught me to assess risk, understand tone and stay calm in high-pressure situations, which are not only useful life skills, but the foundation of how I support my clients, says Lacey Gutierrez at Group Five Legal.
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NY Zelle Suit Highlights Fraud Risks Of Electronic Payments
The New York attorney general's recent action against Zelle's parent company, filed several months after the Consumer Financial Protection Bureau abandoned a similar suit, demonstrates the fraud risks that electronic payment platforms can present and the need for providers to carefully balance accessibility and consumer protection, say attorneys at Weiner Brodsky.
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Series
Law School's Missed Lessons: Client Service
Law school teaches you how to interpret the law, but it doesn't teach you some of the key ways to keeping clients satisfied, lessons that I've learned in the most unexpected of places: a book on how to be a butler, says Gregory Ramos at Armstrong Teasdale.