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Banking
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February 19, 2026
Fidelity National Investors Get Initial OK For $210M Deal
Investors in fintech Fidelity National Information Services have gotten an initial green light for their $210 million deal to settle allegations the company mischaracterized the business prospects of its multibillion-dollar acquisition of payment processor Worldpay.
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February 19, 2026
Ohio Justices Shield Lenders From COVID-Era Class Claims
The Ohio Supreme Court ruled Thursday that a state resident can collect damages from Quicken Loans for the company's failure to report within 90 days that his mortgage had been paid off, but reversed a trial court's certification of a class of individuals who experienced the same issue, finding an amended state law prohibits the action.
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February 19, 2026
FNB Affiliate Denied Injunction Over Noncompete Clauses
The Pennsylvania Superior Court has ruled that a First National Bank wealth management subsidiary was not entitled to an injunction seeking to block three of its former financial advisers from working for a competitor, holding that they did not violate their restrictive covenants.
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February 19, 2026
Outcome Execs Argue High Court Ruling Ends Restitution Bid
Former Outcome Health executives who were convicted of a nearly $1 billion fraud are again asking their trial judge to end restitution proceedings in their case, arguing recent U.S. Supreme Court precedent makes clear the judge lacks the necessary jury findings to decide the long-outstanding issue.
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February 19, 2026
UBS Whistleblower To Get Full Retrial On Long-Running Case
A New York federal judge on Thursday ordered a retrial over a fired UBS worker's whistleblower retaliation lawsuit, marking the latest development in a saga that saw the Second Circuit strike down his 2017 trial win twice, before and after the case was revived by the U.S. Supreme Court.
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February 19, 2026
JPMorgan Pans Trump's 'Woefully Inadequate' Debanking Suit
JPMorgan Chase on Thursday removed President Donald Trump's $5 billion "debanking" lawsuit to Florida federal court, saying it plans to fight for dismissal of the case as it rolled out a Jones Day legal team that includes Trump's former Solicitor General Noel Francisco.
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February 19, 2026
SEC's Peirce Calls For Crypto-Updated Liquidity Rule
U.S. Securities and Exchange Commission member Hester Peirce, the leader of the agency's crypto task force, called Thursday for public feedback on how the agency might apply a rule on broker liquidity to firms that choose to keep stablecoins on hand.
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February 19, 2026
Wells Fargo Urges 4th Circ. To Ax Ex-Director's $22M ADA Win
Wells Fargo is doubling down on its efforts to unravel a $22 million Americans with Disabilities Act verdict in favor of a former employee, telling the Fourth Circuit the former bank director was never denied a chance to work from home and therefore cannot claim the bank failed to accommodate him, among other things.
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February 19, 2026
Feds Hit 7 People With COVID Relief, Mortgage Fraud Claims
Seven people were charged separately in Massachusetts federal court with defrauding mortgage lenders and the Paycheck Protection Program, a defunct coronavirus loan relief program, in multimillion-dollar schemes, the U.S. Department of Justice announced Thursday.
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February 19, 2026
Energy Startup Targets Binance, Banks In Loan Fraud Claims
Connecticut-based clean energy startup Palm Energy Systems LLC has filed a racketeering lawsuit against cryptocurrency exchange Binance Holdings Ltd., its once-imprisoned former CEO Changpeng Zhao and two banks, alleging they either enabled or failed to stop a cash and Bitcoin financing fraud scheme that drained $400,000 from its accounts.
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February 19, 2026
Warren Seeks Treasury, Fed Pledge Of No Bitcoin Bailout
Sen. Elizabeth Warren, D-Mass., is asking the U.S. Treasury and Federal Reserve to provide a written pledge not to bail out cryptocurrency markets in the face of sliding bitcoin prices, saying such a move would disproportionately benefit billionaires.
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February 19, 2026
Doc Fight Delays Trial In $22M McCarter & English Loan Suit
The delayed disclosure of thousands of documents has created "a lot of prejudice" against McCarter & English as it fights a $22.5 million professional malpractice lawsuit, and the impending trial must be pushed back again, a Connecticut state judge said Thursday.
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February 19, 2026
McDermott Adds Transmitter Licensing Atty To Crypto Team
McDermott Will & Schulte announced Wednesday that it has added a money transmitter licensing lawyer from Ketsal PLLC to its cryptocurrency team, which the firm calls "the industry's only crypto-exclusive team whose lawyers devote 100% of their practice to digital asset matters."
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February 18, 2026
Education Dept. Faces Suit Alleging Double Loan Reporting
The U.S. Department of Education has been causing student loan balances to appear doubled on borrowers' credit reports, a New York resident alleged in a proposed class action filed Wednesday in New York federal court, saying her $150,000 total loan balance was reported at $300,000.
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February 18, 2026
Robinhood Clears Fla. AG Probe Of Crypto Platform Marketing
Robinhood Markets Inc. told investors on Wednesday that Florida's attorney general has closed an investigation into the marketing practices of its crypto trading arm, ending a probe that had scrutinized whether the company misled customers about trading costs.
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February 18, 2026
Epstein Survivor Seeks Class Cert. In BofA 'Blind Eye' Suit
A survivor of Jeffrey Epstein's sex-trafficking operation who is suing Bank of America for allegedly facilitating the disgraced financier's crimes seeks certification of a class of potentially over 1,000 victims of the enterprise and has asked the court to appoint two firms as lead counsel.
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February 18, 2026
PayPal 'Too Optimistic' With 2027 Forecast, Investors Say
PayPal was hit with a shareholder's proposed class action accusing it and its executives of damaging investors by walking back positive guidance and a strong growth trajectory for its branded checkout segment earlier this month.
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February 18, 2026
BofA Military Interest Cap Suit Should Be Tossed, Judge Says
A North Carolina federal judge has recommended tossing a proposed class action accusing Bank of America of violating an interest cap law for military service members, saying the veteran plaintiffs have failed to allege any actual violations of federal or state law.
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February 18, 2026
Trump Admin Doubles Down At DC Circ. In Fight Over CFPB
The Trump administration has pressed the D.C. Circuit to lift an injunction barring mass layoffs at the Consumer Financial Protection Bureau, slamming it as a "sweeping intrusion" on agency management that rests on incorrect speculation about what the end goal is.
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February 18, 2026
McCarter & English Seeks Delay, Toss Of $22M Ethics Case
McCarter & English LLP doubled down on its bid to sink a $22.3 million professional negligence lawsuit by two insurance companies, arguing document production delays warrant nonsuit and that the court should, at the very least, push back a March trial date approaching in the case.
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February 18, 2026
TD Bank Customers Seek OK Of $2.5M Debt Collection Deal
A class of West Virginia TD Bank credit card holders asked a federal judge to grant final approval to a $2.5 million settlement to end claims the bank improperly used different names when collecting debt.
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February 18, 2026
Liberty Mutual Inks $13.4M 401(k) Fee, Investment Suit Deal
Liberty Mutual has agreed to shell out $13.4 million and change its employee 401(k) plan management process to end a class action alleging that the insurance company allowed excessive fees and underperforming investment options to drain workers' retirement savings, according to filings in Massachusetts federal court.
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February 17, 2026
OCC Floats New Appeals Board To Hear Bank Exam Disputes
The Office of the Comptroller of the Currency is moving to overhaul its internal appeals process for banks, pitching a new review board and other changes that could make challenges to examiner findings more common and more likely to succeed.
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February 17, 2026
Educator Unions Call For SEC Probe Of Apollo's Epstein Ties
The American Federation of Teachers and American Association of University Professors on Tuesday urged the U.S. Securities and Exchange Commission to investigate statements made by Apollo Global Management concerning the private equity firm's alleged ties to convicted sex offender Jeffrey Epstein.
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February 17, 2026
Wash. Bank Ignored Ponzi Scheme Warnings, Investors Say
Investors have urged a Washington federal judge not to toss their suit accusing Columbia Bank of keeping a real estate investment firm's $230 million Ponzi scheme afloat by maintaining the enterprise's accounts even when evidence of fraud surfaced, arguing there is ample factual evidence showing that the bank knew about the scheme and assisted in it.
Expert Analysis
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How Securities Class Action Deals Fare After Prelim Approval
An analysis of Institutional Shareholder Services data from the last 10 years shows that preliminarily approved class action settlements are unlikely to be denied in the final-approval stage, while procedural delays are more common than withdrawal or termination, says Rahul Chhabra at Charles River Associates.
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What Applicants Can Expect From Calif. Crypto License Law
With the July effective date for California's Digital Financial Assets Law fast approaching, now is a critical time for companies to prepare for licensure, application and coverage compliance ahead of this significant regulatory milestone that will reshape how digital asset businesses operate in California, say attorneys at MoFo.
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Next Steps For Fair Housing Enforcement As HUD Backs Out
A soon-to-be-finalized U.S. Department of Housing and Urban Development rule, which would hand responsibility for determining disparate impact liability under the Fair Housing Act to the courts, reinforces the Trump administration’s wider rollback of fair lending enforcement, yet there are reasons to expect litigation challenging this change, say attorneys at Spencer Fane.
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Malpractice Claim Assignability Continues To Divide Courts
Recent decisions from courts across the country demonstrate how different jurisdictions balance competing policy interests in determining whether legal malpractice claims can be assigned, providing a framework to identify when and how to challenge any attempted assignment, says Christopher Blazejewski at Sherin & Lodgen.
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What Clarity Act Delay Reveals About US Crypto Regulation
The Senate Banking Committee's decision to delay markup of the Clarity Act, which would establish a comprehensive federal framework for digital assets, illuminates the political and structural obstacles that shape U.S. crypto regulation, despite years of bipartisan calls for regulatory clarity, says David Zaslowsky at Baker McKenzie.
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Venezuela Legal Shifts May Create Investment Opportunities
Since the removal of President Nicolás Maduro, Venezuela has shown signs of economic liberalization, particularly in the oil and mining sectors, presenting unique — but still high-risk — investment opportunities for U.S. companies, say attorneys at Haynes Boone.
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Weathering FINRA's Scrutiny Of Foreign Small-Cap Issuers
To prepare for the Financial Industry Regulatory Authority's recently announced targeted examinations, broker-dealers and firms that assist with IPOs abroad should consult years of FINRA guidance on managing the money-laundering and fraud risks inherent to foreign small-capitalization offerings, say Michael Watling and Elika Mohebbi at Seward & Kissel.
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Bipartisan Enforcement Is Rising In Consumer Finance
Activity over the past year suggests a bipartisan state enforcement wave is rippling across the consumer finance industry, which follows a blueprint set out by former Consumer Financial Protection Bureau Director Rohit Chopra, who notably now leads a Democratic Attorneys General Association working group, say attorneys at Hudson Cook.
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Ramped Up Psychedelic Production Carries Opportunity, Risk
Kimberly Chew at Husch Blackwell discusses the key legal implications of the U.S. Drug Enforcement Administration's recent dramatic increases in the production quotas for a range of psychedelic substances, offering guidance on compliance, risk management and strategic opportunities for practitioners navigating this rapidly evolving landscape.
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Series
Teaching Logic Makes Me A Better Lawyer
Teaching middle and high school students the skills to untangle complicated arguments and identify faulty reasoning has made me reacquaint myself with the defined structure of thought, reminding me why logic should remain foundational in the practice of law, says Tom Barrow at Woods Rogers.
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Series
Law School's Missed Lessons: Practicing Resilience
Resilience is a skill acquired through daily practices that focus on learning from missteps, recovering quickly without internalizing defeat and moving forward with intention, says Nicholas Meza at Quarles & Brady.
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Takeaways From The DOJ Fraud Section's 2025 Year In Review
Former acting Principal Deputy Chief Sean Tonolli of the U.S. Department of Justice's Fraud Section, now at Cahill Gordon, analyzes key findings from the section’s annual report — including the changes implemented to adapt to the new administration’s priorities — and lays out what to watch for this year.
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What An Uptick In Shareholder Activism Means For Banking
With increasing bank M&A activity, activists are becoming more focused on larger banking institutions, but there are ways banks can begin to prepare in case they need to defend against activist campaigns, say attorneys at Debevoise.
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Can OCC State Banking Law Preemption Survive The Courts?
While two December proposals from the Office of the Comptroller of the Currency seek to foreclose pending consumer litigation against national banks related to residential mortgage lending, it's unclear whether this aggressive approach will withstand judicial scrutiny under the U.S. Supreme Court's 2024 rulings in Cantero and Loper Bright, say attorneys at Davis Wright.
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How Selig May Approach CFTC Agricultural Enforcement
As the U.S. Commodity Futures Trading Commission begins a new chapter under recently confirmed Chairman Michael Selig's leadership, a look back at the agency's actions in agricultural markets over the past six years sheds light on what may lie ahead for enforcement in the area, say attorneys at Latham.