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Banking
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March 03, 2026
Wells Fargo Escapes Ex-Workers' Prescription Cost Suit
Former Wells Fargo workers on the employer healthcare plan failed to show that the company violated federal benefits law by allowing them to overpay for prescription drugs, a Minnesota federal judge found Tuesday, tossing the proposed class action.
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March 03, 2026
Man Gets 6 Years In Prison For $5.6M Fraud
A Pennsylvania man who pled guilty to wire fraud and money laundering was sentenced Tuesday in Colorado federal court to more than six years in prison for his role in two separate schemes that defrauded several government entities and individuals of more than $5.6 million.
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March 02, 2026
VIX Note Investors Denied Appeal Bid In Credit Suisse Suit
Investors who claimed Credit Suisse manipulated the market for certain exchange-traded notes can't immediately appeal an order blocking them from further amending their claims, in part because they sought review of a question "ill-suited to purely legal analysis," a federal judge in Manhattan held.
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March 02, 2026
Lawmakers Urged To Rein In Debt Settlement Industry
Lender trade groups on Friday urged Congress to tighten federal oversight of the debt settlement industry, warning of significant potential harm from companies that they said are increasingly pitching consumers on "strategic default" as a path to financial relief.
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March 02, 2026
FINRA Fines Goldman Subsidiary $1.3M Over Order Execution
The Financial Industry Regulatory Authority fined Goldman Sachs subsidiary Folio Investments Inc. $1.3 million for allegedly failing to properly review order execution quality after changing the market center through which it routed a substantial amount of its customer orders.
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March 02, 2026
Senate Banking Dems Call For Binance Deal Compliance Probe
Senate Democrats on the banking committee are pressing the U.S. Department of Justice and U.S. Department of the Treasury to investigate reports that cryptocurrency exchange Binance Holdings Ltd. could be flouting the requirements of a 2023 settlement agreement.
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March 02, 2026
Cadwalader Continues Restructuring Growth With UK, US Duo
Cadwalader Wickersham & Taft LLP announced on Monday that it is continuing to invest in its restructuring bench with two lawyers in New York and London.
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March 02, 2026
Attorney, Law Firm Seek Exit From EB-5 Fraud Suit
An attorney and his law firm urged a Florida federal judge to throw out fraud claims a proposed class of EB-5 investors lodged against them over what they called a sham real estate development in Orlando, Florida.
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March 02, 2026
Justices Decline CashCall Challenge To $134M CFPB Award
The U.S. Supreme Court said Monday that it will not review a Ninth Circuit decision upholding a $134 million restitution award for the Consumer Financial Protection Bureau in a long-running case over a tribal lending program that ultimately lost millions for lender CashCall Inc.
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February 27, 2026
Energy Transfer Secures $345M Greenpeace Judgment
A North Dakota state judge Friday entered final judgment in favor of Energy Transfer, finalizing a $345 million defamation and property damage verdict against Greenpeace in a dispute over the Dakota Access pipeline protests, according to a statement from Greenpeace.
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February 27, 2026
'Lack Of Adversity' Stops Court From Ending Biden SAVE Plan
A Missouri federal judge dismissed a coalition of Republican-led states' lawsuit challenging a Biden-era student debt relief plan, saying Friday he can't end the plan like the Trump administration wanted given the "apparent lack of adversity" in the suit between the states and the administration.
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February 27, 2026
Morgan Stanley Joins Ranks Of OCC Crypto Bank Hopefuls
Morgan Stanley has applied with the Office of the Comptroller of the Currency to launch a new crypto-focused national bank, adding its name to a growing list of institutions pursuing federal trust charters for digital asset businesses.
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February 27, 2026
TD Bank Escapes $3-Fee Suit, NY Law Ruled Unconstitutional
A New York federal judge on Friday dismissed, with prejudice, a suit alleging that TD Bank was illegally charging customers a $3 fee to receive monthly paper statements for their checking accounts, finding that the underlying statute on which the suit was based is unconstitutional.
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February 27, 2026
OCC Finalizes Rule Confirming Trust Charter's Broader Scope
The Office of the Comptroller of the Currency on Friday finalized a rule amending its chartering regulations to make clear that national trust banks can go beyond managing assets for others, a tweak that could benefit fintech firms seeking charters and could draw the ire of banking groups.
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February 27, 2026
SEC Issues Final Rules For Foreign Private Issuer Reporting
The U.S. Securities and Exchange Commission on Friday adopted final rules requiring directors and officers of foreign private issuers to begin disclosing their holdings and transactions of the issuer's securities on March 18, as mandated under a new law aimed at cracking down on foreign insider trading.
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February 27, 2026
Deutsche Bank Drops $180M Bond Bid Against Billionaire Vik
Deutsche Bank has agreed to drop a request in Connecticut for billionaire Alexander Vik and his daughter to post a $180 million bond while the pair block litigation in Norway connected to a $243 million United Kingdom judgment surrounding unpaid margin calls.
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February 27, 2026
PG&E Investors' $100M Wildfire Suit Deal Gets Initial OK
California utility Pacific Gas & Electric Co., its brass, underwriters and shareholders have received initial approval of their $100 million deal settling claims the company misled investors about its safety practices ahead of deadly wildfires in the past decade.
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February 27, 2026
Credit Bureaus Fight Bid To Add Plaintiffs, Claims To Suit
Medical providers and a collection agency in a proposed class action accusing Equifax, Experian and TransUnion of conspiring to exclude less than $500 in medical debt from consumer credit reports lack good cause to again amend their complaint, the credit reporting agencies told a federal court.
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February 27, 2026
Santander Sued In Pa. Over Alleged 'Pay-To-Pay' Loan Fees
Santander Consumer USA Inc. has been sued for charging and collecting allegedly illegal "pay-to-pay" fees from Pennsylvania residents who financed a car through the Texas-based auto-lending business.
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February 27, 2026
Bitcoin ATM Scam Suit Will Go To Arbitration, Ind. Judge Rules
A retiree's proposed class action claiming that Bitcoin Depot Inc. facilitates fraud schemes that target the elderly belongs in arbitration, an Indiana federal judge has ruled after finding the retiree agreed to the company's terms, which include an arbitration clause, each time he used one of their ATMs.
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February 27, 2026
Taxation With Representation: Linklaters, Wilson Sonsini
In this week's Taxation With Representation, French electric utility Engie acquires UK Power Networks, Gilead Sciences Inc. buys clinical-stage biotechnology company Arcellx Inc., and The Brink's Co. acquires NCR Atleos in a deal that unites two major companies in the ATM business.
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February 27, 2026
Tricolor Noteholders Say Big Banks Ignored Auto Loan Fraud
Securitized auto loan investors are suing JPMorgan, Barclays and Fifth Third in New York federal court, alleging the banks ignored glaring red flags and helped conceal a sprawling subprime auto loan fraud by Tricolor Holdings that collapsed in bankruptcy last year.
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February 26, 2026
Ex-Morgan Stanley Pro's NBA Fraud Rap Falls Short, Jury Told
An attorney for a former Morgan Stanley investment adviser accused of defrauding NBA stars by feeding them overpriced insurance investments and stealing funds told a Manhattan federal jury Thursday the players' own words and other evidence belie the government's claims.
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February 26, 2026
Ex-Paxful CEO Charged Over Anti-Money Laundering Failures
Federal authorities have arrested the former CEO of now-shuttered crypto exchange Paxful and accused him of willfully failing to maintain anti-money laundering policies that enabled scammers and prostitution enterprises, newly unsealed court documents show.
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February 26, 2026
Fiserv Seeks Exit From Credit Union Security Flaws Suit
Fiserv Inc. has urged a Florida federal judge to toss a credit union's suit claiming the payment systems company has allowed its online banking platform to be "repeatedly hacked, again and again," arguing the long-running contract between itself and the credit union does not obligate Fiserv to implement the security features the credit union is now demanding.
Expert Analysis
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Reflections From High Court Oral Args Over Fed Gov. Removal
In the oral arguments last month for Trump v. Cook, which asks the U.S. Supreme Court to clarify the circumstances under which the president can remove a Federal Reserve Board governor, the justices appeared skeptical about ruling on the substantive issues in view of the limited record and analysis, say attorneys at Ballard Spahr.
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How Securities Class Action Deals Fare After Prelim Approval
An analysis of Institutional Shareholder Services data from the last 10 years shows that preliminarily approved class action settlements are unlikely to be denied in the final-approval stage, while procedural delays are more common than withdrawal or termination, says Rahul Chhabra at Charles River Associates.
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What Applicants Can Expect From Calif. Crypto License Law
With the July effective date for California's Digital Financial Assets Law fast approaching, now is a critical time for companies to prepare for licensure, application and coverage compliance ahead of this significant regulatory milestone that will reshape how digital asset businesses operate in California, say attorneys at MoFo.
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Next Steps For Fair Housing Enforcement As HUD Backs Out
A soon-to-be-finalized U.S. Department of Housing and Urban Development rule, which would hand responsibility for determining disparate impact liability under the Fair Housing Act to the courts, reinforces the Trump administration’s wider rollback of fair lending enforcement, yet there are reasons to expect litigation challenging this change, say attorneys at Spencer Fane.
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Malpractice Claim Assignability Continues To Divide Courts
Recent decisions from courts across the country demonstrate how different jurisdictions balance competing policy interests in determining whether legal malpractice claims can be assigned, providing a framework to identify when and how to challenge any attempted assignment, says Christopher Blazejewski at Sherin & Lodgen.
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What Clarity Act Delay Reveals About US Crypto Regulation
The Senate Banking Committee's decision to delay markup of the Clarity Act, which would establish a comprehensive federal framework for digital assets, illuminates the political and structural obstacles that shape U.S. crypto regulation, despite years of bipartisan calls for regulatory clarity, says David Zaslowsky at Baker McKenzie.
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Venezuela Legal Shifts May Create Investment Opportunities
Since the removal of President Nicolás Maduro, Venezuela has shown signs of economic liberalization, particularly in the oil and mining sectors, presenting unique — but still high-risk — investment opportunities for U.S. companies, say attorneys at Haynes Boone.
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Weathering FINRA's Scrutiny Of Foreign Small-Cap Issuers
To prepare for the Financial Industry Regulatory Authority's recently announced targeted examinations, broker-dealers and firms that assist with IPOs abroad should consult years of FINRA guidance on managing the money-laundering and fraud risks inherent to foreign small-capitalization offerings, say Michael Watling and Elika Mohebbi at Seward & Kissel.
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Bipartisan Enforcement Is Rising In Consumer Finance
Activity over the past year suggests a bipartisan state enforcement wave is rippling across the consumer finance industry, which follows a blueprint set out by former Consumer Financial Protection Bureau Director Rohit Chopra, who notably now leads a Democratic Attorneys General Association working group, say attorneys at Hudson Cook.
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Ramped Up Psychedelic Production Carries Opportunity, Risk
Kimberly Chew at Husch Blackwell discusses the key legal implications of the U.S. Drug Enforcement Administration's recent dramatic increases in the production quotas for a range of psychedelic substances, offering guidance on compliance, risk management and strategic opportunities for practitioners navigating this rapidly evolving landscape.
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Series
Teaching Logic Makes Me A Better Lawyer
Teaching middle and high school students the skills to untangle complicated arguments and identify faulty reasoning has made me reacquaint myself with the defined structure of thought, reminding me why logic should remain foundational in the practice of law, says Tom Barrow at Woods Rogers.
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Series
Law School's Missed Lessons: Practicing Resilience
Resilience is a skill acquired through daily practices that focus on learning from missteps, recovering quickly without internalizing defeat and moving forward with intention, says Nicholas Meza at Quarles & Brady.
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Takeaways From The DOJ Fraud Section's 2025 Year In Review
Former acting Principal Deputy Chief Sean Tonolli of the U.S. Department of Justice's Fraud Section, now at Cahill Gordon, analyzes key findings from the section’s annual report — including the changes implemented to adapt to the new administration’s priorities — and lays out what to watch for this year.
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What An Uptick In Shareholder Activism Means For Banking
With increasing bank M&A activity, activists are becoming more focused on larger banking institutions, but there are ways banks can begin to prepare in case they need to defend against activist campaigns, say attorneys at Debevoise.
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Can OCC State Banking Law Preemption Survive The Courts?
While two December proposals from the Office of the Comptroller of the Currency seek to foreclose pending consumer litigation against national banks related to residential mortgage lending, it's unclear whether this aggressive approach will withstand judicial scrutiny under the U.S. Supreme Court's 2024 rulings in Cantero and Loper Bright, say attorneys at Davis Wright.