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Banking
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February 10, 2026
Biz Says Bank Unit Wrongfully Put It On High-Risk List
A family-owned cutlery seller told a Georgia federal court Tuesday that a U.S. Bank payment processing subsidiary wrongfully placed it on a list that flags businesses for suspicion of high-risk behavior and terminated its payment processing services without justification.
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February 10, 2026
Feds Argue Russian Billionaire Lacks Yacht Ownership
The U.S. Department of Justice urged the Second Circuit to affirm a district court decision that authorized the United States to sell a Russian billionaire's seized superyacht, arguing he can't suffer the loss of something he barely owns.
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February 10, 2026
'Pig Butchering' Fugitive Gets 20 Years For $73M Crypto Scam
A dual citizen of China and Saint Kitts and Nevis was sentenced in absentia to 20 years in prison and three years supervised release for his role in an international money laundering scheme that laundered over $73 million worth of criminal proceeds obtained through so-called "pig butchering" cryptocurrency investment scams.
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February 10, 2026
Wash. Judge Won't Block Racial Equity Housing Program
A nonprofit aimed at "overcoming identity politics" cannot preliminarily block a Washington state housing program designed to reduce racial disparities in homeownership, a Seattle federal judge ruled, saying the group has not shown it is likely to succeed on its claim that the program is unconstitutional.
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February 10, 2026
Chinese Bank Targets Expat Over $209M Awards
A Chinese bank is urging a California federal court to impose an asset freeze on a businessman who has ignored some $209 million in arbitral awards after his company defaulted on loans aimed at funding an urban renewal project in southeastern China.
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February 10, 2026
Paul Hastings Lands 8 More Attys For New Charlotte Office
A second group of fund finance lawyers has joined Paul Hastings LLP's new Charlotte, North Carolina, office from Cadwalader Wickersham & Taft LLP, Haynes Boone and Mayer Brown LLP.
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February 10, 2026
Presidio Seeks $1B Debt To Fund Deals After SPAC Merger
Oil and gas operator Presidio Investment Holdings on Tuesday revealed that it is working with banking giant Goldman Sachs on a debt facility worth up to $1 billion to be administered once it completes its merger with special purpose acquisition company EQV Ventures Acquisition Corp. and becomes a public company.
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February 10, 2026
Banking Group Of The Year: Orrick
Orrick Herrington & Sutcliffe LLP's attorneys secured billions of dollars' worth of victories for major financial institutions over the past year, including a more than $282 million judgment tied to a collapsed fintech company and decisive appellate and trial wins in liability management and IPO litigation, earning it a place among the 2025 Law360 Banking Groups of the Year.
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February 10, 2026
Title Insurer Gets Lender's Fraudulent Loan Suit Trimmed
A North Carolina federal court trimmed a mortgage lender's suit seeking to recoup $540,000 from a title insurer for a loan that a borrower claimed was fraudulent, saying the insurer had no duty to indemnify the lender because the loss fell within an exclusion for third-party fraud.
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February 10, 2026
DOJ Drops Bid For Offshore Asset Freeze In $28M Tax Suit
The U.S. Department of Justice and a family of overseas-trust beneficiaries struck a partial deal in a $28 million tax suit in Florida federal court, with the DOJ dropping its push to freeze the family's assets and the family agreeing to temporarily limit their account withdrawals.
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February 10, 2026
AI Docs Sent By Exec To Attys Not Privileged, Judge Says
A Manhattan federal judge said Tuesday that a Texas financial services executive accused of a $150 million fraud cannot claim privilege over documents that he prepared using an artificial intelligence service and sent to his attorneys — but suggested the materials could be problematic if used at trial.
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February 09, 2026
Ex-Morgan Stanley Pro Scorns Key NBA Witness In Fraud Trial
Counsel for an ex-Morgan Stanley investment adviser accused of defrauding pro athletes out of millions of dollars leaned hard on former NBA player Chandler Parsons in cross-examination after he testified against his onetime friend and go-to money man as the defense sought to discredit one of the government's key witnesses.
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February 09, 2026
Sentencing Commission's Reform Ideas May Cut Prison Time
Proposed new amendments to the federal sentencing guidelines could lead to shorter prison terms for many offenders, including by revising loss calculations for financial crimes and providing a first-of-its-kind path to reward defendants for post-offense, pre-sentence rehabilitative efforts.
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February 09, 2026
Meta Allows Pump-And-Dump Scam Ads, New Suit Says
A new proposed class action in California federal court alleges Meta Platforms Inc. knowingly allowed pump-and-dump scammers to advertise on its platform and to promote and falsely inflate the prices of certain stocks before selling their shares, gaining millions of dollars from Meta users.
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February 09, 2026
4th Circ. Reopens Class Action Door In Navy Federal Bias Suit
A panel of the Fourth Circuit said Monday that a federal district judge moved too quickly in foreclosing class action status in a lawsuit accusing Navy Federal Credit Union of mortgage lending discrimination, ruling that class allegations should not have been altogether struck down before discovery.
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February 09, 2026
Fifth Third Aided Ex-Mayor's $1.8M Theft, Ill. Village Claims
Fifth Third Bank knew a former mayor of a Chicago suburb was misappropriating municipal funds but "deliberately refrained" from investigating the misconduct and ultimately helped her misappropriate $1.89 million, according to a lawsuit filed Friday in state court.
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February 09, 2026
9th Circ. Backs Comerica's Escape From Investor Suit
The Ninth Circuit backed Comerica's win in an investor dispute led by a pension fund accusing the bank of misleading investors about its oversight of a U.S. Department of the Treasury contract, concluding a California federal judge was right to permanently toss the case for failure to state a claim.
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February 09, 2026
Banking Group Of The Year: Paul Weiss
Paul Weiss Rifkind Wharton & Garrison LLP's financial institutions team helped guide TD Bank to a record-setting U.S. anti-money laundering resolution while also defending Citigroup, Deutsche Bank and Mastercard in high-stakes antitrust litigation, earning it a place among the 2025 Law360 Banking Groups of the Year.
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February 09, 2026
Pot Co. Seeks Default Judgment Against Defunct 'Neobank'
Cannabis company Killa Bees Distribution LLC has asked an Oregon federal court to enter a default judgment against the defunct 'neobank' it says failed to return nearly $127,000 in bounced checks.
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February 09, 2026
NY Judge OKs $4M Bond While Wind Farm Case Is Appealed
A New York federal judge has stayed the enforcement of a judgment favoring a Chinese company against Orient Commercial Joint Stock Bank in a wind farm dispute as the Vietnamese bank appeals an earlier order, also approving a $4 million bond tendered with OCB's motion to stay.
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February 09, 2026
Pullman & Comley Says Lender Can't Sue Over $16.2M Deal
Pullman & Comley LLC on Monday said a Connecticut judge lacks jurisdiction to hear legal malpractice and related claims from a lender that loaned $16.2 million to the corporate arm of a municipal housing authority, arguing the housing entity, not the lender, was its only client.
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February 09, 2026
Baker Donelson Adds CFPB Founding Atty In DC
A founding member of the Consumer Financial Protection Bureau who co-founded and spent the past 2½ years as co-leader of boutique SeldenLindeke LLP, has joined Baker Donelson Bearman Caldwell & Berkowitz PC in Washington, D.C., as a shareholder, the firm announced Monday.
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February 09, 2026
Deutsche Bank Escapes FDIC's RMBS Underwriter Claims
A brokerage and investment banking arm of Deutsche Bank ducked a lawsuit the Federal Deposit Insurance Corp. had brought against it over investment losses suffered by now-failed Citizens National Bank, after a New York federal judge determined Monday it did not have a relevant role in underwriting residential mortgage-backed securities Citizens bought more than two decades ago.
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February 09, 2026
State Street Says Kronos Data Breach Cost It $27.6M
Human resources software provider UKG Kronos has failed to adequately address a 2021 data breach that left State Street Bank without access and put it at legal risk in multiple countries, the financial services company said in a $27.6 million lawsuit filed in Massachusetts state court.
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February 09, 2026
Wells Fargo To Arbitrate Claims Over Excessive Fees
A North Carolina federal judge has granted Wells Fargo Bank's motion to compel arbitration for claims alleging it overcharged military members with excessive rates and fees, and recommended a proposed class action be dismissed.
Expert Analysis
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Series
The Law Firm Merger Diaries: Getting The Message Across
Communications and brand strategy during a law firm merger represent a crucial thread that runs through every stage of a combination and should include clear messaging, leverage modern marketing tools and embrace the chance to evolve, says Ashley Horne at Womble Bond.
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How Bank-Fintech Partnerships Changed In 2025
The 2025 transition to the Trump administration, augmented by the reversal of Chevron deference in 2024, has resulted in unprecedented shifts, and bank-fintech partnerships are no exception, with key changes affecting a number of areas including charters, regulatory oversight and anti-money laundering, say attorneys at K&L Gates.
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Opinion
Horizontal Stare Decisis Should Not Be Casually Discarded
Eliminating the so-called law of the circuit doctrine — as recently proposed by a Fifth Circuit judge, echoing Justice Neil Gorsuch’s concurrence in Loper Bright — would undermine public confidence in the judiciary’s independence and create costly uncertainty for litigants, says Lawrence Bluestone at Genova Burns.
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How Fed. Circ. Shaped Subject Matter Eligibility In 2025
The Federal Circuit's most impactful patent eligibility decisions this year, touching on questions about obviousness and abstractness, provide a toolbox of takeaways that can be utilized during patent preparation and prosecution to guard against potential challenges, says Reilley Keane at Banner Witcoff.
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10 Commandments For Agentic AI Tools In The Legal Industry
Though agentic artificial intelligence has demonstrated significant promise for optimizing legal work, it presents numerous risks, so specific ethical obligations should be built into the knowledge base of every agentic AI tool used in the legal industry, says Steven Cordero at Akerman LLP.
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NY Tax Talk: New ALJs, New Rules, Apportionment, Bundling
Attorneys at Eversheds review the top New York tax law developments from last quarter, including appointments to the New York City Tax Appeals Tribunal and the city's proposed rules to clarify income taxation of foreign corporations, and highlight two litigation matters to watch.
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10th Circ. Decision May Complicate Lending In Colorado
The Tenth Circuit's decision last month in National Association of Industrial Bankers v. Weiser clears the way for interest rate limits on all consumer lending in Colorado, including loans from out-of-state banks, potentially adding new complexities to lending to Colorado residents, say attorneys at Manatt.
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Series
Preaching Makes Me A Better Lawyer
Becoming a Gospel preacher has enhanced my success as a trial lawyer by teaching me the importance of credibility, relatability, persuasiveness and thorough preparation for my congregants, the same skills needed with judges and juries in the courtroom, says Reginald Harris at Stinson.
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Why Digital Asset Treasuries Are Drawing Regulator Concerns
Financial regulators’ recent focus on potential insider trading and investor risk at hundreds of publicly traded digital asset treasuries may have been summoned by how quickly this rapidly expanding market responds to asset allocation decisions, as well as variations in risk disclosure practices across the sector, say attorneys at The Brattle Group.
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Minn. Financial Abuse Law Should Prompt Operational Review
A new Minnesota law targeting the financial exploitation of vulnerable adults with an order-for-protection mechanism will affect multiple functions across banking organizations, and in the time remaining in 2025, banks should take action to update any needed workflow and documentation protocols, say attorneys at Winthrop & Weinstine.
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SEC Penalties Trended Down In FY 2025, Offering 2026 Clues
The U.S. Securities and Exchange Commission's settled corporate penalties in fiscal year 2025 show a clear dividing line, as the largest penalties all came before Inauguration Day, a trend that may continue as the types of cases that lead to the biggest penalties seem to be no longer favored by the commissioners, say attorneys at Dentons.
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Series
Law School's Missed Lessons: Practicing Client-Led Litigation
New litigators can better help their corporate clients achieve their overall objectives when they move beyond simply fighting for legal victory to a client-led approach that resolves the legal dispute while balancing the company's competing out-of-court priorities, says Chelsea Ireland at Cohen Ziffer.
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A Close Look At The Evolving Interval Fund Space
Interval funds — closed-end registered investment companies that make periodic repurchase offers — have recently moved to the center of the conversation about retail access to private markets, spurred along by President Donald Trump's August executive order incorporating alternative assets into 401(k) plans and target date strategies, say attorneys at Simpson Thacher.
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A Primer On NYDFS' 3rd-Party Cybersecurity Guidance
The New York Department of Financial Services' recently released comprehensive guidance for registrants on managing cybersecurity risks associated with third-party service providers illustrates why proactive engagement by senior leadership, robust due diligence, strong contractual protections and ongoing oversight are essential to mitigating growing risks, say attorneys at McGuireWoods.
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Series
The Law Firm Merger Diaries: How To Build On Cultural Fit
Law firm mergers should start with people, then move to strategy: A two-level screening that puts finding a cultural fit at the pinnacle of the process can unearth shared values that are instrumental to deciding to move forward with a combination, says Matthew Madsen at Harrison.