Banking

  • April 20, 2026

    Credit Agricole's Hedging Strategy Cost Investors, Suit Says

    Credit Agricole Group has been hit with a suit in New York federal court alleging that the French bank engaged in a yearslong scheme to fraudulently induce two clients into a trading strategy it deemed the "perfect hedge" against certain market risks, when in reality, the strategy created hidden liabilities, forced liquidations and tens of millions of dollars in damages. 

  • April 20, 2026

    REIT Investors Get Initial OK For $2.3M Settlement

    Investors in real estate investment trust Sun Communities Inc. have received an initial nod for their proposed $2.3 million deal to end claims the company concealed that a former CEO received a loan from a board member's relatives, precipitating share price declines when the loan was disclosed by a short seller.

  • April 20, 2026

    Bank Of America Wage Deal Over Boot-Up Time Gets OK

    Bank of America will pay approximately $21,500, including attorney fees and costs, to resolve a Fair Labor Standards Act lawsuit alleging employees were not paid for time spent booting up and shutting down their computers, after a North Carolina federal judge signed off on the settlement.

  • April 20, 2026

    Inspired Healthcare Creditors Object To Reid Collins Retention

    Inspired Healthcare's unsecured creditors have urged a Texas bankruptcy judge to deny the company's bid to retain Reid Collins & Tsai LLP to help investigate the debtor's pre-Chapter 11 conduct, saying that task should fall to unsecured creditors instead.

  • April 20, 2026

    CFPB's Layoff Bid Belongs Before DC Judge, Union Says

    A federal labor union pushed back Friday against a Consumer Financial Protection Bureau bid to proceed with a plan for shedding roughly half its remaining staffers, telling the D.C. Circuit that the agency's request should go first to the lower-court judge who froze layoffs there.

  • April 20, 2026

    Catching Up With Delaware's Chancery Court

    The Delaware Chancery Court this past week delivered another mix of procedural rulings, fiduciary duty disputes and deal litigation, highlighting both the court's gatekeeping role and its continued focus on stockholder rights and transactional fairness.

  • April 20, 2026

    Justices Cast Doubt On Effort To Limit SEC Disgorgement

    The U.S. Supreme Court on Monday questioned an attempt to limit the U.S. Securities and Exchange Commission's disgorgement powers, with conservative and liberal justices alike seemingly skeptical of the argument that the agency has to identify victims before it can demand the return of ill-gotten gains.

  • April 20, 2026

    Digital Assets, AI Pro Rejoins Cleary From Amazon

    Cleary Gottlieb Steen & Hamilton LLP announced on Monday that an alumnus of the firm who most recently worked as the head of responsible AI governance at Amazon has rejoined its ranks in New York.

  • April 20, 2026

    Justices Won't Review Class Cert. In $12B VRDO Suit

    The U.S. Supreme Court on Monday declined to review a Second Circuit decision upholding class certification in a $12 billion municipal-bond antitrust lawsuit after a group of major banks argued the district court erred in not resolving an expert witness evidence dispute before granting certification.

  • April 20, 2026

    Justices Won't Hear 1st Circ. Escrow Law Preemption Case

    The U.S. Supreme Court said Monday that it will not review a First Circuit decision allowing Citizens Bank NA to be sued for allegedly failing to comply with a Rhode Island interest-on-escrow law, declining to wade again into a fight over national bank preemption.

  • April 17, 2026

    Oschadbank Kicks Off New Russia Claim Over Lost Assets

    One of Ukraine's largest banks has made good on its threat to pursue a second investment treaty claim against Russia over the loss of "substantial" assets and operations near Ukraine's western border.

  • April 17, 2026

    4 Firms Lead Kraken's $550M Buy Of Crypto Derivatives Biz

    Four firms including Haynes Boone and Jones Day guided Kraken's $550 million acquisition of regulated crypto derivatives exchange Bitnomial, according to a Friday announcement from Kraken.

  • April 17, 2026

    Ky. Men Take Plea In $3.3M Bogus Credit Line Fraud

    A pair of Kentucky men have agreed to plead guilty in Illinois federal court to wire fraud for running a yearslong scheme that prosecutors say tricked about 60 borrowers, lenders and investors into handing over at least $11.8 million through fake loan programs and supposed investments.

  • April 17, 2026

    Tycoon's 'Unclean Hands' Defense Fails In $5.4M Foreclosure

    A Connecticut state judge has ordered the strict foreclosure of a Greenwich mansion that exiled Russian media tycoon Vladimir Gusinski purchased through an arm of his company, New Media Holdings LLC, capping a six-year-old lawsuit by a bank and its successor surrounding $4.94 million loans.

  • April 17, 2026

    AI Co. Execs Faked Customers For Fraud Scheme, Feds Say

    The former chief executive officer and former chief financial officer of a bankrupt artificial intelligence firm were indicted in Brooklyn Friday on charges that they defrauded investors and banks by lying about having customers in order to inflate company earnings to the tune of hundreds of millions of dollars.

  • April 17, 2026

    CFPB Could Soon Issue Overhauled Small-Biz Loan Data Rule

    The Consumer Financial Protection Bureau is awaiting White House clearance to publish a final rule that would complete its revamp of small-business lender reporting requirements issued during the Biden administration, according to a new regulatory notice.

  • April 17, 2026

    4th Circ. Says Merrill Bonus Plan Exempt From ERISA

    The Fourth Circuit on Friday refused to revive an ex-Merrill financial adviser's proposed class action claiming he was shorted deferred compensation, backing a lower court's holding that the retention bonuses at issue were exempt from federal benefits law.

  • April 17, 2026

    BofA, Ex-Workers Get OK For Boot-Up Time Deal

    A North Carolina federal judge has approved a settlement resolving a wage suit alleging that Bank of America Corp. failed to pay workers for time spent booting up and shutting down their computers before and after their shifts.

  • April 16, 2026

    MoneyLion Hit With Wash. Class Action Over Referral Texts

    A program from fintech platform MoneyLion encouraging users to refer friends to the service has flooded Washington residents with unsolicited text messages in violation of the state's Commercial Electronic Mail Act, alleges a putative class action removed to Seattle federal court Wednesday.

  • April 16, 2026

    Sentencing Commission Votes To Enact Modest Reform Agenda

    The U.S. Sentencing Commission on Thursday voted to enact multiple revisions to the federal sentencing guidelines, including the first inflationary adjustment in over a decade for calculating penalties for economic crimes, but declined to take action on a series of more transformational changes that were under consideration.

  • April 16, 2026

    OCC Lifts JPMorgan's Trade Surveillance Consent Order

    The Office of the Comptroller of the Currency said Thursday it has ended a Biden-era consent order with JPMorgan Chase over its trade surveillance monitoring, which was at the center of hundreds of millions of dollars in fines for the banking giant two years ago.

  • April 16, 2026

    Fed Orders Georgia Bank To Halt Dividends, Raise Capital

    The Federal Reserve Board on Thursday ordered a Georgia bank holding company to retain and raise capital as part of a consent order tied to its small business and agricultural lending that examiners raised concerns about earlier this year.

  • April 16, 2026

    Capital One Hit With Class Action Over Canceled Rewards

    Capital One has been hit with a proposed class action in Virginia federal court accusing it of unlawfully canceling billions of dollars in earned credit card rewards by unilaterally closing customers' accounts without cause.

  • April 16, 2026

    OCC Says Bank Misled Borrowers Into Costlier VA Refi Loans

    The Office of the Comptroller of the Currency has settled with an Illinois bank over claims it deceptively marketed federally guaranteed home refinance loans for veterans, issuing an enforcement order that is drawing consumer advocate scrutiny for omitting key redress details.

  • April 16, 2026

    US Bank Shorted Wash. Workers On Meals, Breaks, Suit Says

    U.S. Bank denied hourly employees meal and rest breaks, and shorted them on overtime and sick leave pay, two former workers alleged in a proposed class action filed in Washington state court.

Expert Analysis

  • Regulators' Basel Pitch May Bring Banks Capital Relief

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    The prudential banking agencies' new proposals to implement the so-called Basel III endgame rules — which would modify the approach to risk-based capital, among other notable changes — represent a fundamental directional shift in bank capital requirements aimed at increasing lending capacity, says Chen Xu at Debevoise.

  • Series

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

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    Michigan's financial services sector saw several significant developments in 2026's first quarter, including the state Department of Insurance and Financial Services' issuance of a bulletin on the use of artificial intelligence and the Michigan House's introduction of a bill based on the Model Money Transmission Modernization Act, say attorneys at Dykema.

  • Series

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

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    As usual, California remained a hub for financial services activity in the first quarter of 2026, with key developments including the California Department of Financial Protection and Innovation's eye on consumer issues, a bill targeting "pig butchering" schemes, and jam-packed courts, say attorneys at Joseph Cohen.

  • Series

    Ultramarathons Make Me A Better Lawyer

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    Completing a 100-mile ultramarathon was tougher, more humbling and more rewarding than I ever imagined, and the experience highlighted how long-distance running has sharpened my ability to adapt to the evolving nature of antitrust law and strengthened my resolve to handle demanding, unforeseen challenges, says Dan Oakes at Axinn.

  • Key Takeaways From The 2026 ABA Antitrust Spring Meeting

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    Last week's American Bar Association Spring Meeting revealed an antitrust landscape defined by heightened friction and tension — between federal and state enforcers, domestic and international regimes, competing political visions, and traditional enforcement tools and novel challenges, say attorneys at Skadden.

  • Series

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

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    The first quarter of 2026 brought several consequential developments for Pennsylvania financial institutions, including the state banking department's first assessment overhaul in 10 years, a bill prohibiting interchange fees on card transaction sales taxes and a federal appeals court's upholding of a $52 million enforcement action, say attorneys at Gross McGinley.

  • Madison Capital Action Displays SEC's Emphasis On Process

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    The U.S. Securities and Exchange Commission's recent enforcement action against Madison Capital reflects the SEC's view that when market conditions materially change, valuation methodologies must be reassessed in real time, highlighting the importance of internal processes, say attorneys at Lankler Siffert & Wohl.

  • In First For DOJ, Action Signals New CFIUS Enforcement Era

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    The U.S. Department of Justice is seeking judicial enforcement of a divestment order, an unprecedented action for the agency that ushers in a new phase for the Committee on Foreign Investment in the United States, one in which judicial proceedings complement administrative oversight and presidential divestment orders may be enforced through litigation, says attorney Sohan Dasgupta.

  • Getting The Most Out Of Learning And Development Programs

    Excerpt from Practical Guidance
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    Junior associates can better develop the legal, business and interpersonal skills they need for long-term success by approaching their firms’ learning and development programs armed with five tips for getting the most out of these resources, says Lauren Hakala at Reed Smith.

  • OCC Rule Tests Nonfiduciary Powers Of Trust Banks

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    The Office of the Comptroller of the Currency's updates to its final rule on national bank chartering, effective April 1, may augur a showdown between the OCC, states and traditional banking institutions over both the authority of national trust banks to engage in nonfiduciary activities under the National Bank Act, and the scope of federal preemption, says Audrey Carroll at Stinson.

  • AI And Threats To Privilege In Financial Sector Probes

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    The recent spotlight on the potential for artificial intelligence platforms to serve as a source for discoverable information is especially important for financial institutions to understand, as the industry navigates increasingly complex regulatory expectations and AI tools become embedded in investigative efforts, say attorneys at Jackson Lewis.

  • 'A-C-T' Agenda Signals New Regulatory Era At SEC Speaks

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    At this year's SEC Speaks, U.S. Securities and Exchange Commission Chairman Paul Atkins unveiled his ambitious A-C-T agenda — advance, clarify and transform — to align the federal securities regulatory regime with modern markets, illustrating that the conference was not merely a status update but an action plan, say attorneys at Perkins Coie.

  • Opinion

    AI Presents A Make-Or-Break Moment For Outside Counsel

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    The rapid adoption of artificial intelligence by corporate legal departments is forcing a long-overdue reset of the relationship between inside and outside counsel, and introducing a significant opportunity to shed frustrating inefficiencies and strengthen collaboration for firms willing to embrace the shift, says Intel Chief Legal Officer April Miller Boise.

  • 8 Tariff Refund Questions For Restructuring Professionals

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    For restructuring and turnaround professionals, seeking refunds following the U.S. Supreme Court's recent decision invalidating tariffs imposed under the International Emergency Economic Powers Act raises several questions about how to capture legitimate recoveries while protecting an enterprise from the consequences of its own history, says Jonny Frank and Laura Greenman at StoneTurn, and Andrew Popescu at Province.

  • When 'Qualified Transferees' Can Chill UCC Foreclosures

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    A recent New York state court decision in a closely watched real estate dispute in WWP Mezz LLC v. WWP Mezz Investment Co. is a reminder to lenders, and a warning to borrowers, of the Uniform Commercial Code foreclosure's immense power as a lender remedy, says Joshua Wurtzel at Schlam Stone.

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