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									October 02, 2025
									NC Judge Slashes Bank Of America Fake Accounts Class SuitA North Carolina federal judge has slashed a proposed class action accusing Bank of America of opening unauthorized accounts in people's names, tossing claims for violations of the Fair Credit Reporting Act, unjust enrichment and unfair trade practices, and leaving only negligence claims intact. 
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									October 02, 2025
									Debt Collector's $2.6M Data Breach Deal Gets Final NodDebt collection agency and buyer NCB Management Services Inc. and its investors have gotten the final nod to their $2.63 million deal to end consolidated proposed class action claims that NCB failed to protect more than a million consumers after a trove of their personal information was compromised in a ransomware attack. 
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									October 02, 2025
									FINRA Fines Broker-Dealer $1M On Lax-Surveillance ClaimsThe Financial Industry Regulatory Authority is requiring New Jersey-based broker-dealer Velocity Clearing LLC to hire an independent consultant and pay a $1 million fine to settle the regulator's claims that Velocity has failed to take reasonable measures to prevent manipulative trading. 
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									October 02, 2025
									Flagstar Customers Want OK On $31M Data Breach DealA proposed class alleging Flagstar Bank didn't protect customer and employee information from two data breaches asked a Michigan federal judge Wednesday to give the initial approval for a $31.5 million settlement to resolve the case. 
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									October 02, 2025
									Switzerland Dodges $372M Credit Suisse Collapse SuitA New York federal judge has granted Switzerland's bid to throw out a $372 million suit against the country stemming from the 2023 collapse of Credit Suisse and the reduction in value of about $17 billion of debt securities, ruling that it has sovereign immunity in the dispute. 
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									October 02, 2025
									Ex-Silvergate CFO Must Face SEC Fraud Claims, Judge RulesA New York federal judge has ruled that the former chief financial officer of defunct crypto-focused bank Silvergate Capital cannot escape a suit from the U.S. Securities and Exchange Commission alleging he hid the bank's rocky financial condition, finding that the regulator has adequately alleged that he had access to information that contradicted his public statements. 
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									October 02, 2025
									Merrill Lynch Raid Suit Paused For FINRA ArbitrationA Georgia federal judge stayed Merrill Lynch's case alleging Dynasty Financial Partners, Charles Schwab and a dozen former employees conspired to start a new firm with Merrill's staff and confidential information one day after denying the company's bid for an injunction. 
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									October 02, 2025
									Florida Man Gets 19 Years For Running $36M Ponzi SchemeA Florida federal judge sentenced a Miami man to more than 19 years in prison for running a $36 million Ponzi scheme through a company that purported to make money through quick loans to small businesses. 
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									October 02, 2025
									Many Cos. Not Ready For National Security Risks, Report SaysAt least a third of U.S. companies aren't fully prepared to address key national security compliance risks they face, and the C-suite often isn't aligned with its in-house counsel as to who is primarily responsible for those efforts, according to a new survey from Eversheds Sutherland. 
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									October 02, 2025
									Ch. 11 Trustee Appointed In Eventide BankruptcyA Texas bankruptcy judge has appointed a Chapter 11 trustee in the bankruptcy of Eventide Credit Acquisitions following a request from the official committee of unsecured creditors. 
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									October 02, 2025
									McCarter & English Won't Face Pretrial Win Bid In $22M SuitA Connecticut Superior Court judge has denied requests by Phoenix Life Insurance Co. and PHL Variable Insurance Co. to file late partial summary judgment motions in a $22.3 million professional negligence lawsuit against McCarter & English LLP over the law firm's work on a Long Island loan deal. 
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									October 01, 2025
									SEC Gives Crypto Custody Nod To State Trust CompaniesThe U.S. Securities and Exchange Commission staff has assured registered investment advisers and certain fund issuers they won't risk an enforcement action by using state trust companies as cryptocurrency custodians in a move that some praised as widening access to more crypto-savvy custody options and others decried as an erosion of custody rules. 
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									October 01, 2025
									SEC Wins Case Over Alpine's 'Worthless' Penny-Stock SalesThe U.S. Securities and Exchange Commission has secured a win in Nevada federal court in its lawsuit accusing a Utah securities firm of violating federal anti-fraud provisions by transferring roughly $54 million in client assets from customer accounts to state unclaimed property accounts. 
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									October 01, 2025
									Ex-CFTC Enforcement Head, DOJ Veteran Joins Jones DayJones Day has hired a former director of the U.S. Commodity Futures Trading Commission's Division of Enforcement who is also a nearly two-decade alumnus of the U.S. Department of Justice. 
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									October 01, 2025
									Wash. Appeals Panel Reopens Teachers' Pension Interest SuitA Washington state appeals court unanimously revived a class action claim that accuses a state pension agency of unlawfully skimming interest from teachers' retirement accounts, holding that a lower court was wrong to decide that it couldn't take up the matter. 
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									October 01, 2025
									Here's How The SEC Survived 2 Prior ShutdownsThe U.S. Securities and Exchange Commission sent home 90% of its staff Wednesday, including the bulk of its enforcement division, as the agency braces for a shutdown of uncertain length by drawing on lessons from two prior long-running impasses in the past 12 years. 
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									October 01, 2025
									Trump Withdraws Nomination Of Quintenz For CFTC ChairPresident Donald Trump has withdrawn his nomination of Brian Quintenz to lead the U.S. Commodity Futures Trading Commission, following a delay at the president's request of a Senate committee vote on the nomination and Quintenz's public feud with crypto exchange founders Tyler and Cameron Winklevoss. 
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									October 01, 2025
									CFPB 'Will Continue Operations' As Gov't Shutdown HitsThe Consumer Financial Protection Bureau has told its staff to expect business as usual amid the government shutdown that began Wednesday, assuring them that operations, pay and benefits will continue uninterrupted, according to an internal email obtained by Law360. 
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									October 01, 2025
									Trump Moves To Elevate FDIC's Hill To Permanent ChairPresident Donald Trump has nominated the Federal Deposit Insurance Corp.'s acting Chairman Travis Hill to lead the deposit insurer on a permanent basis, the White House confirmed Wednesday. 
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									October 01, 2025
									UBS Says Ex-Advisers Poached $1.4B In Clients For New FirmUBS Financial Services has accused several of its former financial advisers of violating nonsolicitation and confidentiality agreements by plotting to launch a rival firm and poaching clients with $1.4 billion in assets, damaging UBS and its other former employees still entitled to client revenue. 
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									October 01, 2025
									Mich. Judge Slashes RICO Claims Against Mortgage LenderA Michigan federal judge has dismissed the bulk of a proposed class action accusing United Wholesale Mortgage of forcing mortgage brokers to originate loans with UWM instead of shopping around for the best options for borrowers. 
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									October 01, 2025
									4th Circ. Won't Rehear Consultancy's $5M SBA Loan SuitThe Fourth Circuit declined to reconsider a global consultancy and risk management company's lawsuit against the U.S. Small Business Administration in which the consultant argued its $5 million loan was eligible for COVID-19 debt relief. 
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									October 01, 2025
									Ga. Law Firm Looks To Ax Bank's Malpractice Suit Over FraudStanley Esrey & Buckley LLP has urged a Georgia state appeals court to dismiss claims from a bank accusing it of legal malpractice and negligence, arguing that it did not cause the bank to lose more than $8 million through bogus loan transactions. 
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									October 01, 2025
									Simpson Thacher Taps Barclays Atty For Shareholder GroupSimpson Thacher & Bartlett LLP announced on Wednesday it has hired a former Barclays Capital attorney to lead its shareholder engagement and activism defense group. 
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									October 01, 2025
									3 Firms Guide Rocket Merger To Close With $14.2B ValuationOnline mortgage giant Rocket has finished its all-stock purchase of rival Mr. Cooper Group with help from Paul Weiss, Wachtell and Bradley Arant, noting Wednesday the now-$14.2 billion deal has a higher price tag because stock values have risen since the merger's announcement. 
Expert Analysis
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								How Community Banks Can Limit Overdraft Class Action Risk  With community banks increasingly confronted with class actions claiming deceptive overdraft fees, local institutions should consider proactively revising their customer policies and agreements to limit their odds of facing costly and complicated consumer litigation, say attorneys at Jones Walker. 
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								Opinion Bar Exam Reform Must Expand Beyond A Single Updated Test  Recently released information about the National Conference of Bar Examiners’ new NextGen Uniform Bar Exam highlights why a single test is not ideal for measuring newly licensed lawyers’ competency, demonstrating the need for collaborative development, implementation and reform processes, says Gregory Bordelon at Suffolk University. 
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								A Simple Way Courts Can Help Attys Avoid AI Hallucinations  As attorneys increasingly rely on generative artificial intelligence for legal research, courts should consider expanding online quality control programs to flag potential hallucinations — permitting counsel to correct mistakes and sparing judges the burden of imposing sanctions, say attorneys at Lankler Siffert & Wohl and Connors. 
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								Surveying The Changing Overdraft Fee Landscape  Despite recent federal moves that undermine consumer overdraft fee protections, last year’s increase in fee charges suggests banks will face continued scrutiny via litigation and state regulation, says Amanda Kurzendoerfer at Bates White. 
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								What's At Stake In High Court Review Of Funds' Right To Sue  The U.S. Supreme Court's upcoming review of FS Credit Opportunities v. Saba Capital Master Fund, a case testing the limits of using Investment Company Act Section 47(b) to give funds a private right of action to enforce other sections of the law, could either encourage or curb similar activist investor lawsuits, say attorneys at Goodwin. 
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								Handling Sanctions Risk Cartel Control Brings To Mexico Port  Companies operating in or trading with Mexico should take steps to mitigate heightened exposure triggered by routine port transactions following the U.S. Treasury’s recent unequivocal statement that a foreign terrorist organization controls the port of Manzanillo, says Jeremy Paner at Hughes Hubbard. 
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								The Road Ahead For Digital Assets Looks Promising  With new legislation expected to accelerate the adoption of blockchain technology, and with regulators taking a markedly more permissive approach to digital assets, the convergence of traditional finance and decentralized finance is closer than ever, say attorneys at Dechert. 
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								Unpacking The Supreme Court's Views On Judgment Finality  The U.S. Supreme Court's June opinion in BLOM Bank SAL v. Honickman reaffirmed that the bar for reopening a final judgment remains exceptionally high — even when the movant seeks to amend their complaint based on a new legal development, say attorneys at Venable. 
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								Series Creating Botanical Art Makes Me A Better Lawyer  Pressing and framing plants that I grow has shown me that pursuing an endeavor that brings you joy can lead to surprising benefits for a legal career, including mental clarity, perspective and even a bit of humility, says Douglas Selph at Morris Manning. 
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								Supreme Court's Criminal Law Decisions: The Term In Review  Though the U.S. Supreme Court’s criminal law decisions in its recently concluded term proved underwhelming by many measures, their opinions revealed trends in how the justices approach criminal cases and offered reminders for practitioners, says Kenneth Notter at MoloLamken. 
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								Compliance Is A New Competitive Edge For Mortgage Lenders  So far, 2025 has introduced state and federal regulatory turbulence that is pressuring mortgage lenders to reevaluate the balance between competitive and compliant employee and customer recruiting practices, necessitating a compliance recalibration that prioritizes five key strategies, say attorneys at Mitchell Sandler. 
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								Even As States Step Up, They Can't Fully Fill CFPB's Shoes  The Trump administration's efforts to scale down the Consumer Financial Protection Bureau have prompted calls for state regulators to pick up the slack, but there are also important limitations on states' ability to fill the gap left by a mostly dormant CFPB, say attorneys at Covington. 
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								Opinion The Legal Education Status Quo Is No Longer Tenable  As underscored by the fallout from California’s February bar exam, legal education and licensure are tethered to outdated systems, and the industry must implement several key reforms to remain relevant and responsive to 21st century legal needs, says Matthew Nehmer at The Colleges of Law. 
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								What Dismissal Rulings May Mean For ERISA Forfeiture Cases  Following an influx of Employee Retirement Income Security Act class actions challenging the long-standing practice of plan sponsors using plan forfeitures to offset employer contributions, recent motion to dismiss rulings and a U.S. Department of Labor amicus brief may encourage more courts to reject plaintiffs' forfeiture theories, say attorneys at Mayer Brown. 
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								'Pig Butchering' Seizure Is A Milestone In Crypto Crime Fight  The U.S.' recent seizure of $225 million in crypto funds in a massive "pig butchering" scheme highlights the transformative impact of blockchain analysis in law enforcement, and the increasing necessity of collaboration between law enforcement agencies, cryptocurrency exchanges and stablecoin issuers, says David Zaslowsky at Baker McKenzie.