Banking

  • October 16, 2025

    LA Developers Charged In Homeless Housing Fund Fraud

    A pair of real estate developers have been charged in separate fraud cases alleging that they misused millions of dollars meant to build and operate affordable housing for people experiencing homelessness, the U.S. Attorney's Office of the Central District of California announced Oct. 16.

  • October 16, 2025

    Wells Fargo, Workers Get More Time For Stock Option Deal

    Wells Fargo & Co. and former employees on Thursday were granted an extended deadline for filing a request for preliminary approval of their settlement resolving litigation alleging the bank used dividends earned by its employee stock ownership fund to meet its 401(k) matching obligations.

  • October 16, 2025

    Ga. Tax Worker Seeks Interest On Chrisley Slander Award

    A Georgia Department of Revenue employee who was awarded $755,000 in her slander case against former reality star and convicted fraudster Todd Chrisley asked a federal judge to grant her post-judgment interest, which she said was mandatory but not spelled out in her judgment.

  • October 16, 2025

    Fed's Barr Calls For Rules To Plug 'Gaps' In Stablecoin Bill

    Federal Reserve Board Governor Michael Barr said Thursday that the success of the recently passed legislative framework for stablecoins is dependent on federal banking agencies and state regulators coordinating to "fill in important gaps" that could threaten consumer protection and the stability of the banking system.

  • October 16, 2025

    Wells Fargo To Settle Investors' 'Sham' Hiring Case For $85M

    Wells Fargo & Co. has agreed to pay $85 million to exit an investor class action accusing it of conducting "sham" job interviews to meet diversity quotas, settling a yearslong dispute before it could reach trial in California federal court.

  • October 16, 2025

    BakerHostetler Adds Loeb & Loeb Corporate Group In NY

    BakerHostetler hired a quartet of dealmaking partners from Loeb & Loeb LLP for the firm's business practice group Thursday as part of its efforts to deepen capabilities in mergers and acquisitions, private equity and debt finance.

  • October 16, 2025

    MoneyLion Settles CFPB's Suit Over Military Service Charges

    The Consumer Financial Protection Bureau and MoneyLion Inc. will settle a Biden-era enforcement action accusing the fintech lender of overcharging military service members, according to a filing in New York federal court.

  • October 16, 2025

    4th Circ. OKs $811M Award In CFPB Immigrant Bond Co. Suit

    The Fourth Circuit has affirmed an $811 million judgment awarded to the Consumer Financial Protection Bureau in its enforcement case against immigrant bond companies accused of engaging in abusive practices.

  • October 16, 2025

    Justices Asked To Rethink Gellert Seitz Malpractice Ruling

    Lawyers for a homebuilder are asking Delaware's Supreme Court to reconsider its decision affirming the dismissal of a legal malpractice suit against Gellert Seitz Busenkell & Brown LLC over damages the builder said it suffered due to the firm's negligence handling loan-restructuring disputes, arguing that key issues have been left unresolved.

  • October 16, 2025

    US Bank Wants Out Of Ex-AI Chief's Race Bias Suit

    U.S. Bank has doubled down on its efforts to escape a race bias suit brought by the former head of its artificial intelligence efforts, saying he waited more than 100 days too long to file a charge of discrimination with the U.S. Equal Employment Opportunity Commission.

  • October 15, 2025

    Vought Aims To Close CFPB Within '2 Or 3 Months'

    White House budget chief Russell Vought said Wednesday that he wants to shutter the Consumer Financial Protection Bureau and expects to succeed in the next few months, despite the Trump administration's claims in court that the agency is just being downsized.

  • October 15, 2025

    OCC Conditionally OKs Palmer Luckey's Thiel-Backed Bank

    The Office of the Comptroller of the Currency on Wednesday gave its initial green light to a new virtual currency-focused national bank backed by tech entrepreneurs Peter Thiel and Palmer Luckey, marking the first such approval for a new bank since Jonathan Gould was sworn in as Comptroller in July.

  • October 15, 2025

    JPMorgan Dinged By Judge For Raising Arbitration Issue Late

    A Washington federal judge hinted on Wednesday that she's likely to stand by her past decision spurning JPMorgan Chase's attempt to force arbitration of a customer's racial discrimination claims, suggesting the bank lost its chance to make the points it's now relying on to persuade the court to reconsider.

  • October 15, 2025

    BofA, BNY Mellon Accused Of Enabling Epstein's Crimes

    Bank of America and the Bank of New York Mellon Corp. are the latest banks accused of enabling Jeffrey Epstein's sex trafficking enterprise and failing to timely report the late sex offender's suspicious transactions, according to a pair of proposed class actions filed Wednesday in New York federal court.

  • October 15, 2025

    FDIC's Hill Discusses Stablecoin Rulemaking Lift

    Federal Deposit Insurance Corp. acting Chairman Travis Hill said Wednesday that crafting a licensing regime for stablecoin issuers under his agency's purview will likely be relatively "straightforward," but the recently passed stablecoin legislation has also tasked banking regulators with thornier policy issues.

  • October 15, 2025

    Lender Sues For Access To High-Tech Kiosks After Default

    A company that makes high-tech vending machines that dispense beauty and personal hygiene products has defaulted on a loan and is refusing to turn over credentials to keep the kiosks in operation, according to a suit filed in Massachusetts state court.

  • October 15, 2025

    Loan Originator Gets 1½ Years For $10M Mortgage Fraud

    An Illinois federal judge sentenced a loan originator to 1½ years in prison Wednesday for his role in a lengthy and complex mortgage fraud scheme that involved conning elderly victims out of an estimated $10 million in home equity.

  • October 15, 2025

    Some Federal Workers Win Quick Block On Shutdown Layoffs

    A California federal judge on Wednesday granted a request from two unions representing thousands of federal workers to immediately block the Trump administration from laying them off during the government shutdown, saying she believes the plaintiffs will show that "what's being done here is both illegal and is in excess of authority."

  • October 15, 2025

    Chase Accused Of IP Theft By Fintech Startup

    A fintech startup has accused JPMorgan Chase Bank NA of stealing artificial intelligence trade secrets after months of trying out the trade-optimizing technology, claiming that the bank backed out of their deal in bad faith, costing the small firm $5 million in out-of-pocket expenses as well as undetermined additional damages.

  • October 14, 2025

    Sony Is Among Latest To Apply For OCC Crypto Bank License

    Sony's online banking unit has applied with the Office of the Comptroller of the Currency to set up a U.S. offshoot that would mint stablecoins and custody digital assets, joining a wave of firms that have approached the agency with crypto-related business plans.

  • October 14, 2025

    Squires Calls For 2nd Look At PTAB Wins By Visa

    U.S. Patent and Trademark Office Director John Squires has ordered Patent Trial and Appeal Board officials to review final decisions largely backing Visa Inc. in challenges to three credential verification patents, after patent owner Cortex MCP Inc. argued the holdings were flawed.

  • October 14, 2025

    Exec Tells Fla. Jury He Wanted To Protect Nicklaus Brand

    An executive for the company bearing Jack Nicklaus' name denied making alleged defamatory statements in emails to clients regarding the golf legend's interest in a competing Saudi Arabian league, telling a Florida state court jury on Tuesday that he received contradicting information and wanted to protect the business' brand name.

  • October 14, 2025

    Banks Ignored NFT Scam That 'Screamed Fraud,' Court Told

    A Texas investor urged a California federal court not to toss his lawsuit accusing East West Bank and Cathay Bank of ignoring red flags from scammers and enabling a $17 million romance scam, saying that he provided enough evidence showing that the banks disregarded obvious signs of fraud.

  • October 14, 2025

    Auto Insurers To Pay NY AG $14.2M Over Data Breaches

    New York Attorney General Letitia James announced Tuesday that eight car insurance companies will pay $14.2 million to end claims they failed to protect people's personal information in light of a widespread hack involving the companies' online quoting tools.

  • October 14, 2025

    Judge Won't Block $4.7B Ex-Im Bank Loan For LNG Project

    A D.C. federal judge refused to temporarily block $4.7 billion in financing that the Export-Import Bank of the United States approved for a TotalEnergies SE liquefied natural gas project in Mozambique, a setback for environmental groups challenging the deal.

Expert Analysis

  • Feds' Shift On Reputational Risk Raises Questions For Banks

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    While banking regulators' recent retreat from reputational risk narrows the scope of federal oversight in some respects, it also raises practical questions about consistency, reputational management and the evolving political landscape surrounding financial services, say attorneys at Smith Anderson.

  • Series

    Playing Mah-Jongg Makes Me A Better Mediator

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    Mah-jongg rewards patience, pattern recognition, adaptability and keen observation, all skills that are invaluable to my role as a mediator, and to all mediating parties, says Marina Corodemus.

  • Business Court Bill Furthers Texas' Pro-Corporate Strategy

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    The Texas Legislature's recent bill to enhance corporate protections and expand access to the Texas Business Court by refining its jurisdictional standards is just the latest step in the state's playbook for becoming the new center of corporate America, say attorneys at Katten.

  • 2 NY Cases May Clarify Foreclosure Law Retroactivity

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    Two pending cases may soon provide the long-awaited resolution to the question of whether retroactive application of the New York Foreclosure Abuse Prevention Act violates the state Constitution, providing a guide for New York courts inundated with motions in foreclosure and quiet title actions, says Fernando Rivera Maissonet at Hinshaw & Culbertson.

  • Series

    Law School's Missed Lessons: Navigating Client Trauma

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    Law schools don't train students to handle repeated exposure to clients' traumatic experiences, but for litigators practicing in areas like civil rights and personal injury, success depends on the ability to view cases clinically and to recognize when you may need to seek help, says Katie Bennett at Robins Kaplan.

  • What To Expect As UK, US Gov'ts Develop Stablecoin Policies

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    While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.

  • Series

    Texas Banking Brief: All The Notable Legal Updates In Q2

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    In the second quarter of 2025, the Texas Business Court's newly expanded jurisdiction set the stage for rising caseloads, while the state Legislature narrowed an exception to state bank control requirements and closed a cryptocurrency dividends payments loophole, say attorneys at Mayer Brown.

  • Yacht Broker Case Highlights Industry Groups' Antitrust Risk

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    The Eleventh Circuit recently revived class claims against the International Yacht Brokers Association, signaling that commission-driven industries beyond real estate are vulnerable to antitrust challenges after the National Association of Realtors settled similar allegations last year, says Miles Santiago at the Southern University Law Center and Alex Hebert at Southern Compass.

  • Opinion

    4 Former Justices Would Likely Frown On Litigation Funding

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    As courts increasingly confront cases involving hidden litigation finance contracts, the jurisprudence of four former U.S. Supreme Court justices establishes a constitutional framework that risks erosion by undisclosed financial interests, says Roland Eisenhuth at the American Property Casualty Insurance Association.

  • Congress Crypto Movement Could Bring CFTC 'Clarity' At Last

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    The Clarity Act's arrival at the House floor during "Crypto Week" in Congress demonstrates enduring bipartisan support for legislation addressing digital assets and the Commodity Futures Trading Commission's important role in a future regulatory structure, say attorneys at DLA Piper.

  • Stablecoin Bills Present Opportunities, Challenges For Banks

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    Stablecoin legislation that Congress is expected to adopt in the coming weeks — the GENIUS and STABLE Acts — would create openings for banks to engage in digital asset activities, but it also creates a platform for certain tech-savvy nonbanks to directly compete, say attorneys at Arnold & Porter.

  • How Attys Can Use AI To Surface Narratives In E-Discovery

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    E-discovery has reached a turning point where document review is no longer just about procedural tasks like identifying relevance and redacting privilege — rather, generative artificial intelligence tools now allow attorneys to draw connections, extract meaning and tell a coherent story, says Rose Jones at Hilgers Graben.

  • Opinion

    GENIUS Act Could Muck Up Insolvency Proceedings

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    While some of the so-called GENIUS Act's insolvency provisions are straightforward, others run the risk of jeopardizing the success of stablecoin issuers' insolvency proceedings and warrant another look from Congress, say attorneys at Morgan Lewis.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q2

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    The second quarter saw California become a more active protector of consumers in response to federal regulatory pullback, with regulators proposing a licensing framework for digital asset businesses, ending an enforcement exemption and otherwise signaling further expansions of oversight and enforcement, say attorneys at Stinson.

  • Series

    Georgia Banking Brief: All The Notable Legal Updates In Q2

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    The second quarter brought a number of significant legislative and regulatory changes for Georgia banking, including an extension of the intangibles tax exemption for short-term notes, modernization of routine regulatory practices, and new guardrails against mortgage trigger leads, says Walter Jones at Balch & Bingham.

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