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Banking
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July 25, 2025
DC Circ. Pauses Order Reinstating 2 NCUA Members
The D.C. Circuit on Friday intervened and granted the Trump administration's request to pause a Washington federal judge's order reinstating two National Credit Union Administration board members fired by President Donald Trump, after the federal judge declined to pause the order himself.
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July 25, 2025
Texas Justices Leave Atty Fees In UDJA Cases Alone, For Now
The Texas Supreme Court declined to take up a case dealing with attorney fees in suits where a court defines a legal relationship, but in a Friday opinion one justice wrote that the court will eventually need to address how jurisdiction plays into the issue.
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July 25, 2025
Veteran CFPB Enforcement Atty Heads For The Exit
A longtime Consumer Financial Protection Bureau litigator told a Virginia federal court on Friday that she is leaving after more than a decade at the agency, becoming the latest departure at the regulator as its future under the Trump administration remains in limbo.
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July 25, 2025
3rd Circ. Won't Review $3.2M Wawa Breach Fee Award
The Third Circuit on Thursday won't revisit its prior decision upholding $3.2 million in fees to plaintiffs' counsel in a case that secured a $12 million deal for Wawa shoppers affected by a data breach after attorney Ted Frank argued the fees were disproportionate to the class' recovery.
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July 25, 2025
Ex-Credit Suisse Client Gets 2½ Years For Hiding Assets
A Florida federal judge on Friday sentenced a Colombian-American businesswoman and former Credit Suisse client to two and a half years in prison for conspiring with family members to hide more than $90 million in assets from the IRS through a series of foreign bank accounts.
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July 25, 2025
Chase, Other Banks To Pay $3.75M To End Crypto Ponzi Suit
JPMorgan Chase and other financial firms have agreed to pay a combined $3.75 million to settle claims they helped funnel investor cash into a cryptocurrency-linked Ponzi scheme run by a man who was slapped with a $231 million court judgment last year over the fraud.
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July 25, 2025
Dentons Stalling Discovery In Terraform Ch. 11, Court Told
The bankruptcy plan administrator for failed cryptocurrency platform Terraform Labs has accused Dentons US LLP of blocking his discovery requests in an attempt to secure final approval of some $25 million in fees, saying the law firm is seeking to "run out the clock" to dodge an investigation into its role in Terraform's collapse.
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July 25, 2025
Latham-Led Strategy Raises $2.5B To Acquire More Bitcoin
Entrepreneur Michael Saylor's Strategy Inc., advised by Latham & Watkins LLP, on Friday priced yet another preferred stock offering that raised $2.5 billion in order to acquire bitcoin, a move that comes as the company has been ramping up its capital-raising efforts to stockpile the flagship cryptocurrency.
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July 25, 2025
Switzerland Faces $5B Claim After Credit Suisse Collapse
Switzerland is facing another claim arising from the 2023 collapse of Credit Suisse and the write-down of some $17 billion worth of Additional Tier 1 bonds, as global law firm Holman Fenwick Willan LLP announced its intention to file a $5 billion investor-state claim against the country on behalf of a "substantial group" of bondholders.
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July 25, 2025
Hospital Giant To Pay $3.5M Over Nurse Training Repayments
HCA Healthcare Inc., a major U.S. hospital operator, has agreed to pay roughly $3.5 million to settle claims that it unlawfully trapped new nurses in agreements requiring them to repay training costs if they left their jobs within two years, according to a trio of state attorneys general.
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July 25, 2025
Fried Frank M&A Leader Sees Silver Lining Amid Uncertainties
After nearly a decade as co-head of Fried Frank's M&A and private equity practice, seasoned corporate attorney Steve Epstein has learned how to roll with the punches — and the current market has delivered plenty.
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July 25, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the owner of a £6 million ($8 million) mansion once rented by Adele sue real estate consultants Strutt & Parker, Romanian-Australian mining investor Vasile Frank Timis bring a claim against reputation and privacy firm Schillings, and a Chinese businessman bring a legal action against his former lawyer over an alleged £12.5 million mortgage fraud.
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July 25, 2025
Crypto Group Appoints Ex-Legal Chief, Willkie Alum As CEO
A Willkie Farr & Gallagher LLP alum will become the Crypto Council for Innovation's permanent leader after serving as acting CEO since December and previously serving as chief legal and policy officer.
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July 25, 2025
3 Firms Advise On $8.6B Pinnacle-Synovus Merger Deal
Pinnacle Financial Partners and Synovus Financial Corp. have agreed to combine in an all-stock transaction valued at about $8.6 billion, with three law firms guiding a deal that the companies said will create the "highest-performing regional bank focused on the fastest-growth markets in the Southeast."
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July 24, 2025
Judge Won't Block Exela Ch. 11 Plan For Claims Dilution Suit
A Texas bankruptcy judge Thursday declined to stop automation technology group Exela from exiting Chapter 11 next week, but said he would condition the over $1 billion debt-for-equity swap plan's effectiveness on a roughly 30% recovery rate for its general unsecured claims.
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July 24, 2025
5th Circ. Loath To Say Guilty Plea Implicated Brother In Fraud
A Fifth Circuit panel seemed skeptical of a convicted Dallas fraudster's argument that the jury's learning of his brother's guilty plea in a conspiracy indictment tainted his own case, asking during oral arguments on Thursday how the guilty plea directly implicated him.
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July 24, 2025
Wash. AG Sues Contractor To Keep Benefits Data From Feds
Washington State Attorney General Nick Brown launched a lawsuit in Evergreen State court on Thursday seeking to block a fintech contractor from providing the federal government with the private details of food assistance benefit recipients, saying the Trump administration intends to use the data for its "mass deportation project."
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July 24, 2025
Trump Ally's Fund Firm Sues Powell Over Meeting Secrecy
An investment firm led by a supporter of President Donald Trump sued Federal Reserve Chairman Jerome Powell and several members of the Federal Open Market Committee on Thursday, demanding public access to monetary policy meetings, saying that for the last 50 years, the committee has illegally held every one of its meetings behind closed doors.
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July 24, 2025
Forex Firm Argentex Placed Into Administration
United Kingdom-based currency risk manager Argentex said it has appointed administrators after suffering a "rapid" loss of liquidity amid volatility tied to the U.S. trade war.
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July 24, 2025
Fintech Orgs. Urge Trump Admin To Back Open Banking Rule
A coalition of fintech and crypto industry groups on Thursday called on the Trump administration to defend the open banking rule in an ongoing legal challenge after the Consumer Financial Protection Bureau sided with banking trade groups to argue the data-sharing mandate exceeded its authority.
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July 24, 2025
Chancery OKs $12.75M Settlement In MoneyLion SPAC Suit
Saying parts of the deal "reflect a poster-child scenario for the problems and malincentives associated with the de-SPAC form," a Delaware vice chancellor on Thursday approved a $12.75 million settlement in a stockholder suit challenging a take-public deal for digital finance platform MoneyLion.
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July 24, 2025
NCUA Board Members 'Glad To Be Back' Amid Trump Fight
The National Credit Union Administration officials who were ousted this spring by President Donald Trump took part Thursday in their first board meeting since a federal judge reinstated them just two days earlier, even as the court fight for their jobs continues.
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July 24, 2025
Feds Can't End Bank Oversight After $3M Redlining Deal
A Pennsylvania federal judge has rejected the government's bid to release a bank it previously accused of discriminatory lending from court oversight, holding that continued enforcement was "essential" to make sure the terms of a settlement resolving the allegations were adhered to.
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July 24, 2025
Bets On Atty's Lien Biz Lost Millions, Investor Tells Jury
A seasoned investor told a Manhattan federal jury Thursday that he heavily backed a tax-lien fund controlled by a lawyer now accused of fraud, ultimately losing $2.9 million in supposedly low-risk bets where such losses were "not supposed to be possible."
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July 24, 2025
Alston & Bird Expands West Coast Reach With LA Funds Atty
Alston & Bird LLP has hired a former Greenberg Traurig LLP shareholder with in-house investment firm experience as an investment funds partner in Los Angeles.
Expert Analysis
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EDNY Ruling May Limit Some FARA Conspiracy Charges
Though the Eastern District of New York’s recent U.S. v. Sun decision upheld Foreign Agents Registration Act charges against a former aide to New York Gov. Kathy Hochul, its recognition of an affirmative legislative policy to exempt some officials may help defendants charged with related conspiracies, say attorneys at ArentFox Schiff.
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9th Circ. Has Muddied Waters Of Article III Pleading Standard
District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.
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Series
Competing In Modern Pentathlon Makes Me A Better Lawyer
Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.
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Shifting DEI Expectations Put Banks In Legal Crosshairs
The Trump administration's rollbacks on DEI-friendly policies create something of a regulatory catch-22 for banks, wherein strict compliance would contradict established statutory and administrative mandates regarding access to credit for disadvantaged communities, say attorneys at Husch Blackwell.
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Atkins' Crypto Remarks Show SEC Is Headed For A 'New Day'
A look at U.S. Securities and Exchange Commission Chairman Paul Atkins' recent speeches provides significant clues as to where the SEC is going next and how its regulatory approach to crypto will differ from that of the previous administration, say attorneys at Eversheds Sutherland.
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DOJ Memo Lays Groundwork For Healthy Bank Sponsorships
The U.S. Department of Justice's recent digital asset policy shift offers potential clarity in the murky waters of sponsor bank relationships, presenting nontraditional financial companies with both a moment of opportunity and a test of maturity, say attorneys at Arnall Golden.
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Series
Law School's Missed Lessons: Teaching Yourself Legal Tech
New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.
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In 2nd Term, Trump Has New Iran Sanctions Enforcement Tool
As tensions between the U.S. and Iran escalate, the Trump administration may use a whistleblower program enacted in 2022 to target violations that were previously more difficult to detect, thus expanding enforcement of economic sanctions, say attorneys at MoloLamken and Zuckerman Law.
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How AI May Reshape The Future Of Adjudication
As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.
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What Money Transmitters Need To Know About New Colo. Law
Colorado's new Money Transmission Modernization Act updates standards for the licensing, supervision and regulation of money transmitters while codifying an agent-to-payee exemption, and represents another step toward standardizing these rules across state governments, say Sarah Auchterlonie and Joel Herberman at Brownstein Hyatt.
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When Legal Advocacy Crosses The Line Into Incivility
As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.
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Two Bills Promise A Crypto Revamp, But Not A Done Deal Yet
Recent efforts in Congress toward an updated regulatory framework for digital assets have led to two bills — the GENIUS Act and the CLARITY Act — that represent the most consequential legislative developments yet in the push for coherent, pro-innovation, reliable regulation for the industry, but both face multiple hurdles, says Mike Katz at Manatt.
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2 NY Rulings May Stem Foreign Co. Derivative Suits
In recent decades, shareholders have challenged the internal affairs doctrine by bringing a series of derivative actions in New York state court on behalf of foreign corporations, but the New York Court of Appeals' recent rulings in Ezrasons v. Rudd and Haussmann v. Baumann should slow that trend, say attorneys at Cleary.
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Despite Rule Delay, FTC Scrutiny Looms For Subscriptions
Even though the Federal Trade Commission has delayed its click-to-cancel rule that introduces strict protocols for auto-renewing subscriptions, businesses should expect active enforcement of the new requirements after July, and look to the FTC's recent lawsuits against Uber and Cleo AI as warnings, say attorneys at Holland & Knight.
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AGs Take Up Consumer Protection Mantle Amid CFPB Cuts
State attorneys general are stepping up to fill the enforcement gap as the Trump administration restructures the Consumer Financial Protection Bureau, creating a new regulatory dynamic that companies must closely monitor as oversight shifts toward states, say attorneys at Cozen O’Connor.