Banking

  • October 02, 2026

    Home Equity Fintech Is 1st Target Of Ex-CFPB Attys' Law Firm

    Home equity fintech firm Unlock has used deceptive marketing and confusing contract terms to hide that its "investment" agreements are actually illegal high-cost loans, according to a new proposed class action entered in Colorado state court.

  • October 02, 2026

    Bank Lobby Sues OCC Over Crypto Trust Charter Approvals

    The Independent Community Bankers of America sued the Office of the Comptroller of the Currency on Friday over the wave of national trust charters granted to crypto firms, arguing the rule underpinning the approvals exceeds the office's authority and ran roughshod over commenters' concerns.

  • October 02, 2026

    Texas Justices Won't Review Nixed $64M Credit Suisse Verdict

    The Texas Supreme Court on Friday declined to hear an appeal of a decision that wiped away a $64 million award to a subsidiary of a Dallas investment company following alleged fraud by Credit Suisse surrounding lending for a luxury Nevada community.

  • October 02, 2026

    FirstBank Fights Class Cert. Bid In Epstein Victims' Suit

    FirstBank Puerto Rico is urging a New York federal judge not to grant certification to a proposed class of women who were sexually abused or trafficked by Jeffrey Epstein or his co-conspirators, arguing that many of the suit's claims required individualized inquiries and are "ill-suited to class-wide adjudication."

  • October 02, 2026

    DOJ Envisions 'Full-Fledged Law Firm' To Combat Gov't Fraud

    The National Fraud Enforcement Division was created less than six months ago, but it is rapidly reshaping the U.S. Department of Justice and spurring an uptick in internal corporate investigations, white collar experts say.

  • October 02, 2026

    Roberts Wants Less Talk. Supreme Court Attorneys Disagree.

    Near the end of last term, Chief Justice John Roberts voiced his frustration with the U.S. Supreme Court's lengthening oral argument sessions and suggested the justices might tweak their format over the summer. But as the new term begins Monday, the court has yet to announce any changes, and advocates see little need for improvement.

  • October 02, 2026

    5 Supreme Court Cases To Watch This Fall

    The U.S. Supreme Court will convene Monday to begin its 2026 October term, which includes several cases that could determine the future of climate change tort litigation, expand religious freedoms and parental rights, and grant states authority to require proof of citizenship when individuals register for presidential elections using state forms. 

  • October 01, 2026

    Novartis Can't Dodge Hedge Fund Trade Secrets Suit

    A New York federal judge has denied Novartis' bid to toss an investment management firm's lawsuit accusing the pharmaceutical company and others of helping the firm's former chief investment officer steal confidential investment strategies to launch a rival hedge fund, saying the firm's trade secret claims had enough detail to withstand dismissal.

  • October 01, 2026

    Visa, Mastercard Hit With Antitrust Suit Over Post-2019 Fees

    Even though Visa and Mastercard have paid out billions to escape litigation accusing them of plaguing merchants with predatory "swipe fees," the credit titans have not stopped inflating the fees businesses pay every time someone swipes their card, a new lawsuit alleges.

  • October 01, 2026

    FDIC Says Workplace Culture Monitorship Has Ended

    The Morrison Foerster LLP attorney hired to oversee the Federal Deposit Insurance Corp.'s efforts to address past issues with workplace misconduct has concluded her assignment after two years on the job, declaring the agency "well positioned" to move forward.

  • October 01, 2026

    Merrill, But Not BofA, Must Face Cash Sweep Rates Suit

    Bank of America escaped account holders' allegations that they were paid unreasonably low interest rates under automatic cash sweep programs, but its wealth management division, Merrill Lynch, must still face most of the proposed class claims, according to a New York federal judge's ruling.

  • October 01, 2026

    SEC Changes Quorum Requirements As Peirce Exits

    The U.S. Securities and Exchange Commission has changed its quorum requirements for the first time in 30 years, clarifying that only one member of the agency needs to vote on enforcement and regulatory matters as Commissioner Hester Peirce prepares to leave Friday. 

  • October 01, 2026

    CFPB Couldn't Verify Security Of Tech Left In Offices, IG Says

    The Consumer Financial Protection Bureau left computer equipment sitting in its now-closed regional offices for more than a year and a half without confirming that the hardware, and any sensitive material on it, was locked down, a federal watchdog said Thursday.

  • October 01, 2026

    Dems Want FHFA To Restore Internal Watchdog's Funding

    A group of 11 Democratic U.S. Senators told the Federal Housing Finance Agency not to proceed with "unlawfully slashing" the FHFA's Office of Inspector General budget for fiscal year 2027.

  • October 01, 2026

    NY, Wyo. To Collaborate For Faster Crypto Reviews, Exams

    Financial regulators in New York and Wyoming on Thursday said they have agreed to collaborate on crypto oversight in ways that could cut down on duplicative review processes and exams for fintechs operating in both states.

  • October 01, 2026

    Merrill Lynch To Pay $39M Over Retirement Cash Sweep Rates

    Bank of America's Merrill Lynch unit has reached a $39 million settlement with account holders in a suit alleging the wealth management division swept idle funds in customers' retirement accounts into low-interest accounts instead of paying the proper market interest rates.

  • October 01, 2026

    Kalshi Looks To Shield Sports Offerings At 2nd Circ.

    Prediction market giant Kalshi has asked the Second Circuit to shield its sports offerings from Connecticut gaming enforcers, drilling down on its position that those offerings ought to be immune from state scrutiny.

  • October 01, 2026

    Walgreens Closes In On $9B Boots Sale, Plus More Rumors

    Walgreens is nearing a $9 billion sale of its British pharmacy chain Boots, private equity shop TPG closed a $10 billion climate-focused fund, and Saudi Arabia-owned oil and gas company Aramco has retained an investment bank to lead it on a restructuring plan.

  • October 01, 2026

    Ambiguous Bond Terms Net FDIC Win In SVB Coverage Fight

    Two insurers must provide coverage to the Federal Deposit Insurance Corp., as receiver for Silicon Valley Bank, for the bank's claim for losses from a $73 million fraud scheme, a North Carolina federal judge ruled, finding ambiguity in bond contract language tipped the scales in the insured's favor.

  • October 01, 2026

    Trump Announces Judicial Noms For 5th Circ., NC

    President Donald Trump announced Thursday that he's nominating Todd Butler, a managing partner at Phelps Dunbar LLP, to serve as a judge on the Fifth Circuit. 

  • October 01, 2026

    DOJ Outlines New Corporate Fraud Enforcement Priorities

    Federal prosecutors "must place great weight" on a new list of factors when considering potential charges in corporate fraud cases, including whether the matters involve government programs, threats to national security or immigration offenses, according to a memo released Thursday by the U.S. Department of Justice.

  • September 30, 2026

    Ex-HSBC Exec Tells Jury Huawei CFO Vouched For Iran Biz

    A former HSBC executive on Wednesday testified in the racketeering trial of Huawei and three subsidiaries that he thought the Chinese telecommunications firm's business dealings in Iran were aboveboard, following assurances during a 2013 meeting from Huawei's chief financial officer.

  • September 30, 2026

    Fed HQ Review Finds Cost-Control Failures, No Crimes

    A Federal Reserve watchdog said Wednesday that it has found no potential criminal violations tied to overbudget renovations of the central bank's headquarters, a more than $2 billion overhaul that became a focus of White House attacks on former Fed Chair Jerome Powell.

  • September 30, 2026

    Chase Gets Trump's $5B Fla. Debanking Case Sent To NY

    A Florida federal judge on Wednesday granted JPMorgan Chase Bank NA's motion to transfer President Donald Trump's $5 billion debanking case to New York, agreeing with the bank that the president and his businesses fraudulently joined JPMorgan CEO Jamie Dimon in an attempt to keep the litigation in Florida.

  • September 30, 2026

    11th Circ. Skeptical Of PACE Lenders' CFPB Rule Challenge

    An Eleventh Circuit panel on Wednesday appeared poised to reject an industry challenge to Biden-era Consumer Financial Protection Bureau rules for providers of property-assessed clean-energy loans, repeatedly questioning claims that the agency overstepped its authority.

Expert Analysis

  • 4 Cert. Denials Keep Personal Jurisdiction Issues Percolating

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    After the U.S. Supreme Court's decisions in Ford Motor v. Montana and Mallory v. Norfolk Southern Railway expanded limits on personal jurisdiction, the justices' denials this term of four certiorari petitions suggest they are content to let jurisdiction questions brew in lower courts before weighing in, say attorneys at Hunton.

  • CFPB Fair Lending Litigation Reveals Compliance Complexity

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    A recent legal challenge to the Consumer Financial Protection Bureau's fair lending amendments underscores continuing uncertainty over disparate impact liability, discouragement standards and special purpose credit programs, signaling that financial services providers should avoid hasty compliance changes, say attorneys at Weiner Brodsky.

  • FDIC Proposals Mark Pullback In Bank Resolution Rules

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    A recent pair of Federal Deposit Insurance Corp. proposals would fundamentally reshape testing of banks' resolution-related capabilities from a mandatory exercise to a voluntary one supported by significant financial incentives, amounting to an overall reduction in reporting requirements, say attorneys at Moore & Van Allen.

  • Series

    Being A Singer Makes Me A Better Lawyer

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    Before law school, I spent seven years trying to make it as a professional singer in Los Angeles, and nearly everything I learned about preparation, humility, confidence and more has followed me into my legal practice, says Jessica Caterina at Moses & Singer.

  • $400M Serta Ruling Offers Warning On Uptier Deal Risks

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    A Texas bankruptcy court's recent remand ruling, which disallowed Serta Simmons Bedding’s uptier debt exchange and awarded $400 million to the minority lenders, demonstrates why deal counsel negotiating similar agreements should clearly define exceptions and lien subordination, while litigators should lean on express terms, says Jamie Aycock at Yetter Coleman.

  • Immigration Order Raises Customer ID Stakes For Banks

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    Following a recently issued immigration-related executive order, financial institutions should expect and prepare for increased scrutiny of customer due diligence and identification, suspicious activity monitoring, and consumer lending, as well as accompanying supervisory shifts and rising fair lending risks, says Douglas Weissinger at Butler Snow.

  • How 2nd Circ. Raised The Bar For Pleading Securities Fraud

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    In Huey v. Anavex, the Second Circuit recently appeared to increase the burden on securities fraud plaintiffs in pleading loss causation where no immediate share price decline follows the corrective disclosure, generating new questions that district courts must grapple with, say attorneys at Skadden.

  • Navigating OFAC's 50% Rule For Cross-Border Exec Mobility

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    A recent Office of Foreign Assets Control guide signals that its 50% ownership rule can determine not only sanctions compliance but also whether a company can sponsor multinational executives for immigration, highlighting an often overlooked interaction between sanctions and immigration law, says Xuan Zhang at Reid & Wise.

  • Trade Secret Practice Tips From The 1st Half Of 2026

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    Intellectual property attorneys should consider what several significant developments in 2026 thus far mean for how they protect, litigate and value trade secrets, focusing on new state noncompete bans, cases scrutinizing how plaintiffs identify trade secrets and federal rulings on damages doctrines, say attorneys at Faegre Drinker.

  • Yellow Corp. WARN Act Appeal Refines Layoff Guidance

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    A Delaware federal court's recent upholding of a bankruptcy court's disallowance of unions' federal Worker Adjustment and Retraining Notification Act claims against Yellow underscores that fact-specific notices and thoughtful timing are essential for distressed companies implementing layoffs, say attorneys at King & Spalding.

  • High Court Rulings Could Alter Agency Strategy For Cos.

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    The U.S. Supreme Court's recent decisions in Trump v. Slaughter and Trump v. Cook mark major turning points in the law of independent agencies and in how regulated companies should think about federal enforcement, rulemaking and agency-facing strategy, say attorneys at Holtzman Vogel.

  • How CME Suit May Reshape CFTC's Crypto Derivatives Rules

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    CME Group's recent lawsuit over the U.S. Commodity Futures Trading Commission's approval of a Kalshi application to offer a bitcoin perpetual contract as a futures product could have cascading consequences for crypto derivatives regulation, highlighting why policy ambitions do not override statutory text or substitute for reasoned decision-making, says attorney Tamara de Silva.

  • JPMorgan Ruling Shows Courts' Limited Role In Fee Fights

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    The Delaware Chancery Court's recent decision that JPMorgan Chase must cover more than $21 million in disputed legal fees for two former executives of the startup Frank illustrates the reality that companies, not the courts, are responsible for ongoing supervision of legal spending, says Theodore Edelman at GCE Advisors.

  • Preparing For Next Congress With Eye On Investigation Risk

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    Rod Rosenstein, Brian Whisler and Bruce Linskens at Baker McKenzie offer advice for organizations seeking to build a proactive response plan to potential congressional oversight as the election looms.

  • OCC Letter Affirms Nat'l Banks' Shield From State Licensing

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    The Office of the Comptroller of the Currency recently published a letter supporting Fidelity Digital Assets' stance that state money transmitter licensing requirements do not apply to national banks, confirming the agency's long-standing interpretive position on this issue, say attorneys at Katten.

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