Banking

  • June 18, 2025

    Union Urges Del. Justices To Refloat BofA Benefit Card Suit

    Delaware's chief justice pressed an attorney for Bank of America stockholders Wednesday to "drill down to the bad faith" during an appeal for revival of a Chancery Court suit accusing the company of intentionally prioritizing profits over compliance in managing unemployment benefit cards during the COVID-19 pandemic.

  • June 18, 2025

    Lender Registers $20M Win For Mobile Home Loans Suit

    A lender has registered in North Carolina district court its nearly $20 million victory in a Georgia federal suit accusing a manufactured homes company and its affiliates of defaulting on loans used to buy more than 600 manufactured homes.

  • June 18, 2025

    Former Holland & Knight Partner Joins Husch Blackwell

    Husch Blackwell has announced that former Holland & Knight LLP partner Bruce Toppin has joined the Kansas City, Missouri-headquartered law firm as a partner in its financial services and capital markets industry group.

  • June 18, 2025

    Atty Loses Final Bid To Appeal Law School Loan Judgment

    A Connecticut lawyer must repay his ex-girlfriend $30,000 to cover loans she cosigned for his law school expenses, with the Connecticut Supreme Court denying his petition for certification to appeal.

  • June 18, 2025

    Simpson Thacher Steers $1.3B Buyout Of Mortgage Co. Guild

    Growth-oriented mortgage company Guild Holdings Company, advised by Sullivan & Cromwell LLP, on Wednesday said that it has agreed to be bought by a fund managed by Simpson Thacher & Bartlett LLP-led investment firm Bayview Asset Management LLC for $1.3 billion.

  • June 17, 2025

    Protego Takes $200M Crypto Bank Suit To Wash. Court

    Protego Holdings Corp. has re-launched a lawsuit in Washington state court blaming a Texas investment firm for failing to carry out a $200 million investment pledge in its launch of a cryptocurrency bank, which never materialized because rare conditional approval from the U.S. government lapsed over financing concerns.

  • June 17, 2025

    Senate Passes Stablecoin Legislation With Bipartisan Support

    The Senate's proposal to regulate stablecoins passed the chamber on Tuesday with support from both parties, sending it on to the House where lawmakers are still working on their own proposal.

  • June 17, 2025

    FTC Clarifies Auto Dealers' Duties Under Data Security Rule

    The Federal Trade Commission has issued guidance to assist automobile dealers in complying with the agency's financial data security rule, stressing that their obligations to safeguard customers' nonpublic information doesn't end when their business relationship terminates. 

  • June 17, 2025

    CFPB's Vought Seeks To Limit Use Of Civil Penalty Fund

    Consumer Financial Protection Bureau acting Director Russell Vought is proposing to restrict the agency's ability to tap its civil penalty fund for consumer education and financial literacy initiatives as part of a trio of draft regulatory changes posted online Tuesday.

  • June 17, 2025

    Canadian Banks Decry BioPharma's 'Abusive' Spoofing Suit

    The brokerage arms of the Royal Bank of Canada and the Canadian Imperial Bank of Commerce are fighting a lawsuit accusing them of spoofing the stock of a biopharmaceutical company, arguing that the "abusive litigation" does not belong in a U.S. courtroom.

  • June 17, 2025

    FINRA Fines Ex-Canaccord Compliance Head Over Monitoring

    The Financial Industry Regulatory Authority has suspended Canaccord Genuity LLC's former chief compliance officer and the former head of its trading compliance group, and fined them a combined $15,000 for alleged surveillance lapses.

  • June 17, 2025

    DOJ Seeks 5 Years, $10M For Fla. Man Hiding Swiss Accounts

    A Miami man who lied to authorities and others for decades about his Swiss bank accounts should pay $10.3 million in unpaid taxes and face a maximum five-year prison sentence based on his plea agreement, the U.S. Department of Justice told a Florida federal court.

  • June 17, 2025

    1st Circ. Says Ex-Santander Loan Officer Can't Bypass ERISA

    A former high-earning mortgage development officer for Santander Bank cannot attempt an "end run" around the Employee Retirement Income Security Act by pursuing civil claims under Rhode Island state law over her 2022 firing, a First Circuit panel has ruled.

  • June 17, 2025

    Comerica Says Cardholders Get No Interest On Benefit Cards

    Comerica Bank is not permitted to pay interest to recipients of a federal assistance program it helps administer, the bank argued in a bid to toss class claims from enrollees of the benefits card program who allege that the bank improperly kept interest earned on their accounts.  

  • June 17, 2025

    Hogan Lovells Gets In On DC Region's Trade Lateral Uptick

    Hogan Lovells has hired an international trade litigator who spent more than 15 years with the U.S. Department of Justice, as the hiring of attorneys with trade experience in the D.C. region this year continues at a pace that could outpace 2024, with federal trade policies continuing to evolve rapidly.

  • June 16, 2025

    Paddle.com To Pay FTC $5M Over Tech Support Scam Claims

    Payment processing company Paddle.com Market Ltd. agreed on Monday to pay $5 million to settle a suit brought by the Federal Trade Commission accusing it of assisting and processing payments for tech support scams.

  • June 16, 2025

    Bank Groups Will Join In On Fed's Debit-Card Swipe Fee Fight

    Two banking industry groups received a North Dakota federal judge's permission Monday to present the perspective of banks when he holds a key hearing next month to mull a retailer-backed legal challenge to the Federal Reserve's limits on debit-card swipe fees.

  • June 16, 2025

    Consolidated SVB Class Action Survives 3 Dismissal Bids

    A California federal judge has rejected three bids to dismiss a proposed shareholder class action against Silicon Valley Bank's brass, underwriters and auditor stemming from the bank's 2023 failure, finding the plaintiffs' "well-pleaded" allegations can continue.

  • June 16, 2025

    Fall FARA Trial Set For Ex-NY Gov. Aide As New Charges Loom

    A Brooklyn federal judge on Monday set a fall trial date for a former top aide to two New York governors over allegations that she secretly acted as an agent of China's government in the U.S., while prosecutors intend to bring new charges within weeks.

  • June 16, 2025

    Trump Media Seeks To Launch Bitcoin And Ethereum ETF

    Trump Media and Technology Group Corp., the owner of President Donald Trump's platform Truth Social, on Monday said it filed paperwork to launch an exchange-traded fund that will invest in bitcoin and ethereum, marking its latest push into digital assets.

  • June 16, 2025

    Opendoor Investors Score $39M Deal In Hyped Algorithm Suit

    Real estate firm Opendoor Technologies Inc. has agreed to pay $39 million as part of an investor settlement presented to an Arizona federal court for preliminary approval to resolve litigation accusing the company of overhyping its pricing algorithm software.

  • June 16, 2025

    Judge Orders DOJ To Address Cuellar's Grand Jury Request

    A Houston judge has given prosecutors until the end of the month to address whether they should provide U.S. Rep. Henry Cuellar with certain grand jury materials connected to his bribery case.

  • June 16, 2025

    JPMorgan Chase Beats ERISA 401(k) Forfeiture Suit

    A California federal judge has tossed a proposed class action claiming JPMorgan Chase & Co. misused 401(k) plan forfeitures to cover its contributions, noting dismissals from other federal courts on similar claims challenging how employers have used the unvested funds.

  • June 16, 2025

    Qatar Bank Seeks OK Of $1B Award Against South Sudan

    Qatar National Bank is urging a D.C. federal court to enforce a $1 billion arbitration award issued against the Republic of South Sudan after the country defaulted on a $700 million loan agreement from the country's civil war-era.

  • June 16, 2025

    High Court Skips Laches Question In Trademark Disputes

    The U.S. Supreme Court on Monday declined to take up an appeal that asked if it is proper for courts to adopt state statutes of limitations in trademark disputes to determine whether a party took too long to sue.

Expert Analysis

  • Opinion

    Lawsuits Shouldn't Be Shadow Assets For Foreign Capital

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    Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.

  • How To Accelerate Your Post-Attorney Career Transition

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    Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.

  • 3 Action Items For Innovators Amid Fintech Regulatory Pivot

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    As the federal banking agencies seek to smooth the way for banks to engage in crypto-related activities, banks and technology companies should take note of this new chapter in payments services, especially as leadership in digital financial technology becomes a national priority, says Jess Cheng at Wilson Sonsini.

  • Opinion

    GENIUS Act Can Bring Harmony To Crypto-Banking Discord

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    ​​​​​​​By embracing crypto innovation while establishing appropriate guardrails, the so-called GENIUS Act charts a path forward that promotes financial inclusion and technological advancement without compromising stability or constitutional rights, says J.W. Verret at George Mason University's Antonin Scalia Law School.

  • Series

    Law School's Missed Lessons: Be An Indispensable Associate

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    While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.

  • Mass. AG Emerges As Key Player In Consumer Protection

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    Through enforcement actions and collaborations with other states — including joining a recent amicus brief decrying the defunding of the Consumer Financial Protection Bureau — Massachusetts Attorney General Andrea Campbell has established herself as a thought leader for consumer protection and corporate accountability, say attorneys at Troutman Pepper.

  • Series

    Birding Makes Me A Better Lawyer

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    Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q1

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    Among the most notable developments in California banking in the first quarter of the year, regulators and legislators issued regulations interpreting debt collection laws, stepped up enforcement actions, and expanded consumer protections for those affected by wildfires, says Stephen Britt at Severson & Werson.

  • Inside State AGs' Arguments Defending The CFPB

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    Recent amicus briefs filed by a coalition of 23 attorneys general argue that the Trump administration's efforts to dismantle the Consumer Financial Protection Bureau will irreparably harm consumers in several key areas, making clear that states are preparing to fill in any enforcement gaps, say attorneys at Kelley Drye.

  • Series

    Adapting To Private Practice: From DOJ Leadership To BigLaw

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    The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.

  • How The CRE Industry Is Adapting To Tariff Uncertainty

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    Amid uncertainty about pending tariffs and their potential ripple effects, including higher material costs, supply chain delays and tighter margins, commercial real estate industry players are focusing on strategic planning and risk mitigation, says Daniel Diaz Leyva at Day Pitney.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q1

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    The most noteworthy developments from the first quarter of the year in New York financial services include newly proposed regulations on overdraft fees, a groundbreaking settlement by the state attorney general, and a potentially precedent-setting opinion regarding the Electronic Fund Transfer Act, say attorneys at Quinn Emanuel.

  • Law Firm Executive Orders Create A Legal Ethics Minefield

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    Recent executive orders targeting BigLaw firms create ethical dilemmas — and raise the specter of civil or criminal liability — for the government attorneys tasked with implementing them and for the law firms that choose to make agreements with the administration, say attorneys at Buchalter.

  • The OCC's Newly Relaxed Approach To Bank Crypto Activity

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    With the early March rescission of Biden-era interpretive guidance, the Office of the Comptroller of the Currency has loosened its approach to regulating national banks and federal savings associations' crypto-asset activities, possibly removing one barrier to banks engaging in such activities, say attorneys at Debevoise.

  • Firms Must Embrace Alternative Billing Models Or Fall Behind

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    As artificial intelligence tools eliminate inefficiencies and the Big Four accounting firms enter the legal market, law firms that pivot from the entrenched billable hour model to outcomes-based pricing will see a distinct competitive advantage, says attorney William Brewer.

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