Banking

  • October 10, 2025

    Ex-Trump Ally Felix Sater Liable In Money Laundering Trial

    A bank and a Kazakh city won $52 million in New York federal court over claims that real estate financier and former Donald Trump ally Felix Sater skimmed money while helping others launder tens of millions of dollars, according to the plaintiffs. 

  • October 10, 2025

    Block Founders Face Investor Suit Over Cash App Fraud

    Several executives and directors of Cash App parent company Block Inc. have been hit with a derivative suit accusing them of allowing Cash App's "frictionless" sign-up system to fuel fraud, money laundering and inflated user counts while lying about compliance.

  • October 10, 2025

    Ill. AG, Retailers Will Split Swipe-Fee Law's Defense At Hearing

    A Chicago federal judge has agreed to allow a coalition of merchant groups to take part in a key hearing later this month that could decide a banking industry legal challenge to the Illinois Interchange Fee Prohibition Act, a law banning swipe fees on tax and tip payments.

  • October 10, 2025

    5th Circ.'s FDIC Ruling 'Cries Out' For Review, Ex-CEO Says

    A former Texas bank CEO has asked the full Fifth Circuit to revive his constitutional challenge to the Federal Deposit Insurance Corp.'s in-house enforcement process, arguing that a recent panel decision to reject his case as premature "cries out" for review.

  • October 10, 2025

    CFTC Crypto Task Force Head Returns To Akin

    The former head of the Commodity Futures Trading Commission's Digital Asset Task Force has left the agency to return to Akin Gump Strauss Hauer & Feld LLP as senior counsel in its white collar defense and government investigations practice.

  • October 10, 2025

    Wyden Urges Justices To Revive UBS Retaliation Case Again

    Sen. Ron Wyden and several whistleblower organizations have urged the U.S. Supreme Court to revive for a second time a fired UBS worker's whistleblower retaliation lawsuit, pointing to a "deep and direct conflict" the Second Circuit has created with its latest decision in the case.

  • October 10, 2025

    Judge Advises Keeping Bulk Of Fund's Loan Dispute Suit

    A Florida federal magistrate judge recommends denying most of Amerant Equipment Finance's motion to dismiss a suit accusing the bank of conspiring to prevent an investment fund from buying defaulted loans owed by a distressed metals company.

  • October 10, 2025

    Credit Union Beats Class Action Over 2024 Data Breach

    SRP Federal Credit Union has defeated, for now, a proposed class action alleging it negligently failed to protect the personal information of roughly 240,000 current and former customers that was exposed in a 2024 data breach, with a South Carolina federal judge finding that plaintiffs had failed to allege concrete injuries that were traceable to the breach.

  • October 10, 2025

    Apple Faces Class Cert. Bid In Mobile Wallet Antitrust Case

    An attorney for a proposed class of credit card issuers urged a California federal judge Friday to grant class certification in a suit accusing Apple of monopolizing mobile wallet technology for its own devices even though two lead plaintiffs said they would not pass transaction fees on to their users.

  • October 10, 2025

    Duke Accused Of Misusing Retirement Funds In Class Claims

    Just weeks after settling one benefits-related lawsuit, Duke University has been hit with another putative class action in North Carolina federal court, this time accusing it of being disloyal to retirement plan participants by using forfeited funds only to reduce its own contributions.

  • October 10, 2025

    SEC's Atkins Criticizes Del. As 'Uninterested' In IPO Reform

    U.S. Securities and Exchange Commission Chair Paul Atkins said he is "disappointed" by recent changes to Delaware law that he believes will drive up litigation costs for public companies and make the state seem "uninterested in reform" that would encourage more companies to file initial public offerings there.

  • October 10, 2025

    Retribution, Intent Claims May Defuse Bombshell James Case

    The Trump administration's indictment of New York Attorney General Letitia James is tightly crafted and offers a straightforward presentation of the government's case, but experts say James appears to have a strong argument that she did not intend to break the law and is being unfairly targeted for what amounts to a minor offense.

  • October 10, 2025

    Edward Jones Fined $100K For 'Unreasonable' Commissions

    Edward D. Jones & Co. LP has entered into a consent order with Connecticut's banking regulator, agreeing to pay a $100,000 fine and about $73,000 in restitution for charging "unreasonable" commissions to retail brokerage customers in the state.

  • October 10, 2025

    Taxation With Representation: Sullivan, MoFo, Freshfields

    In this week's Taxation With Representation, Fifth Third Bancorp acquires Comerica in an all-stock deal, Qualtrics buys experience analytics firm Press Ganey Forsta, and SoftBank buys ABB's robotics division.

  • October 10, 2025

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen Paddington Bear's creators and Studio Canal sue the company behind Spitting Image, Blackpool Football Club's former owner Owen Oyston bring a fresh claim against the club, and Mishcon de Reya sue a Saudi investment group.

  • October 09, 2025

    Bessent Touts Trump's 'Community Bank Comeback' Agenda

    U.S. Department of the Treasury Secretary Scott Bessent on Thursday pledged a wide-ranging regulatory push to spur a "community bank comeback," previewing plans that include easing capital rules, updating anti-money laundering standards and supporting expanded deposit insurance.

  • October 09, 2025

    NY Atty General Indicted Following Pressure From Trump

    New York Attorney General Letitia James was indicted in Virginia federal court Thursday on charges related to mortgage fraud, three weeks after President Donald Trump wrote a social media post encouraging U.S. Attorney General Pam Bondi to take action because James and two other political opponents were "guilty as hell."

  • October 09, 2025

    Voyager Judge Won't Dismiss Contract Claims In Binance Suit

    A New York bankruptcy judge said Thursday he expected to deny a request by Binance.US to dismiss Voyager Digital's breach of contract claims stemming from a collapsed asset purchase agreement between the two cryptocurrency ventures.

  • October 09, 2025

    Ally Securities Arm To Pay FINRA $850K Over Records Lapses

    Brokerage firm Ally Invest Securities LLC has agreed to pay the Financial Industry Regulatory Authority $850,000 to settle claims it did not review or maintain millions of relevant communications records between the firm and its customers due to its failure to take reasonable compliance measures and electronic system failures.

  • October 09, 2025

    Treasury Looks To Cut Suspicious Activity Reporting 'Noise'

    The U.S. Department of the Treasury's enforcement arm Thursday released clarifications about requirements related to suspicious activity reports, specifying among other things that financial institutions do not have to document their decisions not to file the reports.

  • October 09, 2025

    Sullivan & Cromwell Impersonators Hit With NY Fraud Claims

    New York Attorney General Letitia James is attempting to take down a slew of businesses whose names are variants of Sullivan & Cromwell LLP, accusing them of attempting a scheme to fraudulently redirect checks meant for the global corporate law firm.

  • October 09, 2025

    Investment Adviser Firm Sues Over Fraud Protection Patent

    Investment adviser firm FinTegrity LLC has sued Deutsche Bank and a Czech cybersecurity company in Texas federal court with claims they are infringing a patent that covers fraud protection technology.

  • October 09, 2025

    Fintech Exec May Claim Double Jeopardy Amid Judge Shuffle

    A former executive of payment processor Allied Wallet has filed a double jeopardy motion after the initial Massachusetts federal judge overseeing the fraud case recused himself, a second declared a mistrial and exited due to a family emergency, and a third flagged a potential conflict with a prosecutor.

  • October 08, 2025

    Ex-AI Chief Says US Bank Can't Dodge Race Bias Claims

    The former head of U.S. Bank's artificial intelligence efforts says he looped in the Equal Employment Opportunity Commission within the required time frame before suing the bank for discrimination, telling a North Carolina federal judge not to toss his claims.

  • October 08, 2025

    Golf Execs Deny Discrediting Jack Nicklaus In NY Lawsuit

    Two executives with the company named after Jack Nicklaus testified in Florida state court on Wednesday that they played no role in providing defamatory statements in a New York lawsuit against the golf legend, denying that they also forwarded false claims to reporters and were involved with filing the complaint.

Expert Analysis

  • Series

    Quilting Makes Me A Better Lawyer

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    Turning intricate patterns of fabric and thread into quilts has taught me that craftsmanship, creative problem-solving and dedication to incremental progress are essential to creating something lasting that will help another person — just like in law, says Veronica McMillan at Kramon & Graham.

  • 2 Appellate Rulings Offer Clickwrap Enforcement Road Map

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    Two recent decisions from the Fourth and Eleventh Circuits in cases involving Experian signal that federal appellate courts are recognizing clickwrap agreements' power in spite of their simplicity, and offer practical advice on how companies can sufficiently demonstrate notice and assent when attempting to enforce contractual terms, says Brian Willett at Saul Ewing.

  • How To Prep For Potential Passage Of SAFER Banking Act

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    The Secure and Fair Enforcement Regulation, or SAFER, Banking Act, could fundamentally reshape how financial institutions interact with cannabis businesses, so operators that move now to get their house in order will be best positioned to capitalize if and when change comes, says Alex Leonowicz at Howard & Howard.

  • How AI Is Easing Digital Asset Recovery In Fraud Cases

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    In combination with recent legislation and a maturing digital asset infrastructure, artificial intelligence tools are making it easier to recover stolen assets, giving litigants a more specific understanding of financial fraud earlier in the process and making it economically feasible to pursue smaller fraud claims, says Solomon Shinerock at Lewis Baach.

  • 5 Critical Changes Coming To Bankruptcy Rule 3002.1

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    Residential mortgage lenders and servicers should prepare for significant amendments to Bankruptcy Rule 3002.1 taking effect this December that will impose new filing requirements, codify how creditors handle untimely payment change notices and allow debtors to request status updates, say attorneys at Bradley Arant.

  • Sanctions Considerations For Reentering The Syrian Market

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    Reentering or opening new markets in Syria, now that the Trump administration has revoked certain long-standing sanctions and export controls, necessitates increased due diligence and best practices capable of adapting to a changing local environment as well as future changes in U.S. law, say attorneys at Nixon Peabody.

  • What 2 Profs Noticed As Transactional Law Students Used AI

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    After a semester using generative artificial intelligence tools with students in an entrepreneurship law clinic, we came away with numerous observations about the opportunities and challenges such tools present to new transactional lawyers, say professors at Cornell Law School.

  • Despite SEC Reset, Private Crypto Securities Cases Continue

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    While the U.S. Securities and Exchange Commission under the Trump administration has charted a new approach to crypto regulation, the industry still lacks comprehensive rules of the road, meaning private plaintiffs continue to pursue litigation, and application of securities laws to crypto-assets will be determined by the courts, say attorneys at Skadden.

  • Crypto Custody Guidelines Buoy Both Banks And Funds

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    A statement released last month by banking regulators — highlighting risks that the agencies expect banks holding crypto-assets to mitigate — may encourage more traditional institutions to offer crypto-asset safekeeping and thereby offer asset managers more options for qualified custodians to custody crypto-assets for their clients, say attorneys at Dechert.

  • Rebuttal

    BigLaw Settlements Should Not Spur Ethics Deregulation

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    A recent Law360 op-ed argued that loosening law firm funding restrictions would make BigLaw firms less inclined to settle with the Trump administration, but deregulating legal financing ethics may well prove to be not merely ineffective, but counterproductive, says Laurel Kilgour at the American Economic Liberties Project.

  • What FinCEN's AML Rule Delay Means For Advisers

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    Even with the Financial Crimes Enforcement Network's statement last month delaying the compliance date for a rule requiring advisers to report suspicious activity, advisers can expect some level of U.S. Securities and Exchange Commission oversight in connection with anti-money laundering compliance, say attorneys at Simpson Thacher.

  • 5 Ways Lawyers Can Earn Back The Public's Trust

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    Amid salacious headlines about lawyers behaving badly and recent polls showing the public’s increasingly unfavorable view of attorneys, we must make meaningful changes to our culture to rebuild trust in the legal system, says Carl Taylor at Carl Taylor Law.

  • State Laws Show Uniformity Is Key To Truly Fair Bank Access

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    The lack of uniformity among state laws — including new Idaho legislation — that forbid banks from discriminating against customers based on ideology shows that a single set of federally administered fair access rules would better serve financial institutions and American consumers, say attorneys at Bradley Arant.

  • Class Actions At The Circuit Courts: August Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses key takeaways from federal appellate decisions involving topics including antitrust, immigration, consumer fraud, birthright citizenship under the Fourteenth Amendment, and product defects.

  • Series

    Hiking Makes Me A Better Lawyer

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    On the trail, I have thought often about the parallels between hiking and high-stakes patent litigation, and why strategizing, preparation, perseverance and joy are important skills for success in both endeavors, says Barbara Fiacco at Foley Hoag.

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