Banking

  • May 08, 2025

    Halkbank Wants Justices To Take 2nd Look At Immunity Claim

    Turkish state-owned bank Halkbank has urged the U.S. Supreme Court to take a second look at an appellate decision holding it doesn't have common-law foreign sovereign immunity from money laundering allegations, arguing the decision "authorizes the first criminal trial of a foreign sovereign instrumentality in world history."

  • May 08, 2025

    Wis. Credit Union Charges 'Onerous' Overdraft Fees, Suit Says

    A western Wisconsin-based federal credit union faces a proposed customer class action alleging that it violated the Electronic Fund Transfer Act by misrepresenting its overdraft fee practices.

  • May 08, 2025

    SEC's Peirce Outlines Path To Exempt Tokenized Securities

    The U.S. Securities and Exchange Commission's Hester Peirce on Thursday endorsed the creation of "regulatory sandboxes" that would encourage companies to develop trading systems for tokenized securities, enabling them to experiment with new technologies without certain registration requirements that govern stock exchanges.

  • May 08, 2025

    Miami Atty Disbarred Over Insistence Of Foreclosure Fraud

    The Florida Supreme Court disbarred a Miami attorney after accusations that he misled courts, impugned judges and brought frivolous pleadings over his insistence that clients' homes were fraudulently foreclosed, despite previous suspensions from allegations of similar conduct in the past.

  • May 08, 2025

    Wife Of Former FTX Exec Says Charges Built On Deception

    Attorney and cryptocurrency lobbyist Michelle Bond, the wife of jailed former FTX executive Ryan Salame, told a Manhattan federal judge that her campaign finance case should be tossed because prosecutors broke a promise that she wouldn't be charged if her husband pled guilty.

  • May 08, 2025

    Coinbase Buying Crypto Options Firm Deribit For $2.9B

    Coinbase said Thursday it has agreed to acquire crypto options exchange Deribit in a $2.9 billion cash-and-stock deal, bolstering its derivatives business and positioning it as the top global platform for crypto options and futures trading.

  • May 08, 2025

    Rising Tide Of Trump Pardons Not Lifting All Boats, Attys Say

    President Donald Trump signed off on more pardons and commutations during his first 100 days in office than any president in modern history while bypassing the traditional clemency process that goes through the U.S. Department of Justice, potentially giving false hope to those who believe they have a chance to benefit from the executive actions but lack White House connections.

  • May 07, 2025

    Senate Backs Bid To Scrap Biden-Era OCC Bank Merger Rule

    Senators voted Wednesday to repeal the Office of the Comptroller of the Currency's Biden-era revamp of its bank merger review standards, advancing an effort to undo a rule that banks criticized as creating more complication and uncertainty for their deals.

  • May 07, 2025

    OCC Affirms Banks' Crypto Custody, Execution Capabilities

    The Office of the Comptroller of the Currency on Wednesday made clear that banks can buy and sell crypto on behalf of their customers and outsource custody services to third parties, reaffirming a stance the regulator first took in 2020.

  • May 07, 2025

    Upstart Says SEC Has Ended Probe Into AI, Loan Disclosures

    The U.S. Securities and Exchange Commission has closed an investigation into online lender Upstart's disclosures around the use of artificial intelligence for underwriting and loans, according to the firm's latest agency filing.

  • May 07, 2025

    Moelis Atty Says Chancery Ruling 'Handcuffed' Co.

    A Delaware Court of Chancery ruling that last year invalidated a decade-old stockholder agreement granting broad corporate powers to investment bank Moelis & Co.'s founder "handcuffed for no reason" directors of state-chartered corporations, an attorney for the company told Delaware's Supreme Court on Wednesday.

  • May 07, 2025

    Deutsche Bank, Computacenter Sued For Firing Whistleblower

    An ex-information technology employee at Computacenter has sued the company, Deutsche Bank and his ex-supervisor for $25 million in New York state court alleging he was fired for blowing the whistle on a security breach in which his colleague's girlfriend purportedly accessed private client information.

  • May 07, 2025

    Walgreens Wants 'Far-Fetched' Shareholder Suit Tossed

    Walgreens contends that a proposed class action alleging it inflated share prices by concealing the lack of viability of its pharmacy division and primary clinic investment must be dismissed because it lacks factual allegations to back its claim that Walgreens made any misstatements to shareholders about its financial outlook, let alone with fraudulent intent.

  • May 07, 2025

    Boston Judge Tosses Mastercard Payments Monopoly Claims

    Payments giant Mastercard Inc. no longer faces a cross-platform tap & pay mobile wallet company's monopolization claims after a Massachusetts federal judge found, among other things, that Mastercard doesn't actually dominate the relevant market.

  • May 07, 2025

    FSOC Rethink Of SIFI Labeling 'Is On Agenda,' Bessent Says

    U.S. Treasury Secretary Scott Bessent signaled at a U.S. House hearing on Wednesday that the Financial Stability Oversight Council may seek again to curb its power to single out large asset managers and other nonbank financial firms for heightened regulation.

  • May 07, 2025

    Wells Fargo Forced Short Sales Despite CARES Act, Suit Says

    Wells Fargo forced the short sale of a North Carolina woman's home by denying her forbearance on her mortgage as mandated under federal law at the onset of the COVID-19 pandemic, she alleged in a proposed class action filed in California federal court.

  • May 07, 2025

    US Bancorp Retirees Pare Down Class Status Request

    A trio of U.S. Bancorp retirees asked a Minnesota federal judge for class status in their lawsuit claiming the company underpaid workers who opted for early retirement, arguing that a narrowed class definition should allay concerns previously identified by the court.

  • May 07, 2025

    Cannabis Firm Faces $11M Loan Default Lawsuit In Colo.

    A lender is suing a cannabis company that operates cultivators and more than 60 dispensaries in Colorado and Mexico, alleging it owes more than $11 million on a loan, has defaulted on that loan, and has been attempting to devalue collateral held by the lender.

  • May 07, 2025

    Edward Jones' Arbitration Delay Lets Worker Return To Court

    Edward Jones' delay in paying the required fees to arbitrate a former employee's wage and hour claims allows the worker to take her claims back to court, a California appeals court ruled.

  • May 06, 2025

    PennyMac Wins Quick 9th Circ. Appeal Of Libor-Rate Ruling

    A California federal judge on Monday allowed PennyMac entities to pursue their quick appeal in a proposed class action alleging they illegally imposed a lower fixed interest rate instead of a variable rate on preferred-stock dividends, asking the Ninth Circuit to clarify whether the Libor Act bars such fixed rates.

  • May 06, 2025

    VIX Note Investors Can't Revise Revived Suit, Judge Finds

    Investors who claimed Credit Suisse manipulated the market for a certain exchange-traded note it issued can't revise their suit to add claims about the bank's lending practices and internal calculations, a New York federal judge has determined.

  • May 06, 2025

    DC Circ. Sides With BofA In COVID Market Loss 'Uphill Battle'

    The D.C. Circuit on Tuesday refused to revive a Bank of America client's suit claiming the bank should've tried to stop him from dumping his investments when the market tanked at the beginning of the pandemic, finding the bank is shielded by an investment contract and calling his claims an "uphill battle."

  • May 06, 2025

    SDNY Taps Sullivan & Cromwell Atty To Lead Criminal Division

    A former Sullivan & Cromwell LLP partner has been selected to lead the U.S. Attorney's Office for the Southern District of New York's criminal division, according to an announcement made Tuesday.

  • May 06, 2025

    Judge Scolds US Over 'Vague' Bid To Stay $380M Award Row

    A California federal judge has scolded the Trump administration as it tries to seize part of a $380 million arbitral award purportedly tied to embezzled Malaysian funds, saying it has not constructively engaged in the discovery process while seeking a stay during related criminal proceedings.

  • May 06, 2025

    Experian Trims But Can't Ditch CFPB's Credit Reporting Suit

    Experian must continue facing the U.S. Consumer Financial Protection Bureau's lawsuit accusing it of mishandling consumer credit reporting disputes as a California federal judge on Monday tossed some but not all of the bureau's claims against the credit reporting agency.

Expert Analysis

  • Crisis Management Lessons From The Parenting Playbook

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    The parenting skills we use to help our kids through challenges — like rehearsing for stressful situations, modeling confidence and taking time to reset our emotions — can also teach us the fundamentals of leading clients through a corporate crisis, say Deborah Solmor at the Wisconsin Alumni Research Foundation and Cara Peterman at Alston & Bird.

  • CFPB Vacatur Bid Sheds Light On Agency Decision-Making

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    While the CFPB's joint motion to vacate the settlement it reached with Townstone Financial last year won't affect precedent on the Equal Credit Opportunity Act's scope, it serves as a road map to CFPB decisional processes and provides insight into how other regulators make similar decisions, says Jason McElroy at Saul Ewing.

  • The Potential Efficiencies, Risks Of Folding PCAOB Into SEC

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    Integrating the Public Company Accounting Oversight Board into the U.S. Securities and Exchange Commission offers the potential for regulatory efficiencies, as well as a more streamlined and consistent enforcement approach, but it also presents constitutional and operational uncertainties, say attorneys at Hilgers Graben.

  • Series

    Adapting To Private Practice: From NY Fed To BigLaw

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    While the move to private practice brings a learning curve, it also brings chances to learn new skills and grow your network, requiring a clear understanding of how your skills can complement and contribute to a firm's existing practice, and where you can add new value, says Meghann Donahue at Covington.

  • Reviewing Trump Admin's Rapid Pro-Crypto Regulatory Pivot

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    The digital asset industry has received a boost from the explicitly pro-crypto Trump administration, which in its first few months reversed Biden-era rules and installed industry proponents at regulatory agencies, marking one of the biggest regulatory about-faces by a government in recent memory, says Robert Appleton at Olshan Frome.

  • Top 3 Litigation Finance Deal-Killers, And How To Avoid Them

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    Like all transactions, litigation finance deals can sometimes collapse, but understanding the most common reasons for failure, including a lack of trust or a misunderstanding of deal terms, can help both parties avoid problems, say Rebecca Berrebi at Avenue 33 and Boris Ziser at Schulte Roth.

  • How Attys Can Use A Therapy Model To Help Triggered Clients

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    Attorneys can lean on key principles from a psychotherapeutic paradigm known as the "Internal Family Systems" model to help manage triggered clients and get settlement negotiations back on track, says Jennifer Gibbs at Zelle.

  • Tracking The Evolution Of Liability Management Exercises

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    As liability management exercises face increasing legal scrutiny, understanding the history of these debt restructuring tools can help explain how the playbook keeps adapting — and why the next move is always just one ruling or transaction away, say attorneys at Weil.

  • How Banks Can Manage Risk As AI Adoption Expands

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    Following new, supportive comments from financial regulatory leaders about the use of artificial intelligence in the industry, banks may move toward wider, less-tentative adoption of the technology, but will also need to deploy important risk management measures, say attorneys at WilmerHale.

  • What Banks Must Do To Attract Gen Z Customers

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    The young adults of Generation Z bank differently, so financial institutions must engage appropriately if they wish to attract this key population, including by leveraging savvy marketing, well-designed online interfaces and top-notch customer service, says Madeline Thieschafer at Fredrikson & Byron.

  • Rebuttal

    Mass Arbitration Reform Must Focus On Justice

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    A recent Law360 guest article argued that mass arbitration reform is needed to alleviate companies’ financial and administrative burdens, but any such reform must deliver real justice, not just cost savings for the powerful, says Eduard Korsinsky at Levi & Korsinsky.

  • What Bank Regulator Consolidation Would Mean For Industry

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    Speculation over the Trump administration’s potential plans to consolidate financial service regulators is intensifying uncertainty, but no matter the outcome for the Consumer Financial Protection Bureau, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency, the industry should expect continued policy changes, say attorneys at Foley & Lardner.

  • 3 Steps For In-House Counsel To Assess Litigation Claims

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    Before a potential economic downturn, in-house attorneys should investigate whether their company is sitting on hidden litigation claims that could unlock large recoveries to help the business withstand tough times, says Will Burgess at Hilgers Graben.

  • Breaking Down Ill. Bellwether Case For Bank Preemption

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    The banking industry's pending lawsuit against the state of Illinois stands to permanently enjoin state regulation of bank card processing, as well as clarify the outstanding and consequential issue of whether conflict preemption continues to cover third parties in certain circumstances, says Tom Witherspoon at Stinson.

  • Series

    Teaching College Students Makes Me A Better Lawyer

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    Serving as an adjunct college professor has taught me the importance of building rapport, communicating effectively, and persuading individuals to critically analyze the difference between what they think and what they know — principles that have helped to improve my practice of law, says Sheria Clarke at Nelson Mullins.

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