Banking

  • April 22, 2026

    Pot Dispensary Owners Sue Partners Over 'Phantom Debt' Plot

    An investor and a cannabis license holder are suing a couple they had hoped would manage a Los Angeles marijuana dispensary for them, claiming in California state court that they instead created $3.4 million in "phantom debt" to steal majority ownership interests in the business and then misappropriate millions.

  • April 22, 2026

    Citibank Defends Arbitration Ruling In Veteran Credit Card Row

    Citibank has urged a North Carolina federal court to uphold a magistrate judge's decision to pause a military consumer lawsuit accusing the bank of misleading service members about interest and fees after the Fourth Circuit determined that the arbitration agreements were enforceable.

  • April 22, 2026

    TD Bank, Airline Data Co. Accused Of Sharing Info With Govt.

    TD Bank NA and airline-owned financial technology company Airlines Reporting Corp. are facing a proposed class action in Delaware federal court accusing them of funneling airfare transaction data to the government through a "secret pipeline," in violation of consumers' financial privacy rights.

  • April 22, 2026

    2nd Circ. Amends Revival Of Mortgage-Backed Securities Suit

    The Second Circuit on Wednesday pulled back from a holding that mortgages underlying a union pension fund's mortgage-backed securities investments that tanked during the financial crisis were plan assets under federal benefits law in a proposed class action that the appellate court revived in March against Wells Fargo and Ocwen.

  • April 22, 2026

    Judge Agrees To Pause PetroSaudi $380M Award Suit

    A California federal judge has paused litigation filed by the U.S. government over a $380 million arbitral award issued to a PetroSaudi unit purportedly tied to funds embezzled from Malaysia, ordering a stay while the question of company control remains in limbo.

  • April 22, 2026

    Simpson Thacher Adds Another Kirkland Finance Alum In Calif.

    Simpson Thacher & Bartlett LLP has hired another former Kirkland & Ellis LLP partner to join its recently formed capital structure solutions practice in the San Francisco area, where she'll focus on banking and other finance matters, Simpson Thacher announced Wednesday.

  • April 22, 2026

    Womble Bond Hires Ex-White & Case RE Atty For Partner Role

    Womble Bond Dickinson has hired a former White & Case LLP partner who specializes in real estate financing and private capital market deals for a partner role in its New York City office, the firm recently announced.

  • April 22, 2026

    Life Policy With $21M Payout Voided As Illegal Life Wager

    A Delaware federal court voided a life insurance policy as an unlawful wager on a now-deceased Florida woman's life, finding that Ameritas Life Insurance Corp. is entitled to retain the policy's $10 million death benefit and $11 million in premium payments.

  • April 22, 2026

    Crypto Exec Sun Accuses Trump Family-Tied Firm Of Fraud

    Cryptocurrency entrepreneur Justin Sun is suing World Liberty Financial for fraud, claiming the Trump family-tied crypto firm's operators became "the new boogeyman behind the curtain" when they used backdoor mechanisms to hold Sun's tokens hostage after he invested $45 million in the project.

  • April 21, 2026

    Capital One Clients Seek Cert. Over Info Sent To Meta, Google

    Counsel for Capital One customers urged a California federal judge Tuesday to certify a class over claims their personal financial information was illegally disclosed to Meta Platforms Inc., Google LLC and others, saying the customers' claims share a common question — whether the financial giant obtained consent based on its privacy disclosures.

  • April 21, 2026

    Jury Told Ex-Finance CEO Is The Fall Guy In $100M Fraud Case

    Counsel for the founder of Beneficient on Tuesday told a Manhattan federal jury that the founder of the Dallas-based financial services firm did not defraud its onetime business partner GWG Holdings out of more than $100 million, saying a group of former insiders are trying to scapegoat the executive for GWG's downfall.

  • April 21, 2026

    Ameriprise Didn't Disclose Records Breach, Suit Says

    Financial services company Ameriprise was hit with a proposed class action in Minnesota federal court accusing it of failing to safeguard customers' data from cybercriminals, resulting in a breach of its records in March.

  • April 21, 2026

    US Lawmakers Float Path For Fintech Fed Accounts

    Two federal lawmakers from California introduced a bipartisan bill on Tuesday that would create a path for nonbank fintechs to directly access the Federal Reserve's payment rails in the hopes of reducing bank fees and delays for consumers using payment apps.

  • April 21, 2026

    Meta Denies Knowing Of Social Media Pump-And-Dump Ads

    Meta Platforms Inc. had no knowledge of alleged pump-and-dump scam advertisements on its social media platforms, it has said, urging a California federal judge to dismiss a suit seeking to hold the tech company responsible for losses from the scams.

  • April 21, 2026

    House Panel Votes To Gut Corporate Transparency Act

    A House finance committee advanced a bill Tuesday that would defang the Corporate Transparency Act by exempting all domestically owned companies from compliance, codifying a limitation already implemented by the U.S. Department of the Treasury.

  • April 21, 2026

    FHFA Says High Court Ruling Dooms Shareholder Verdict

    An attorney for the Federal Housing Finance Agency told the D.C. Circuit on Tuesday that the agency had clear authority to act in its own interest as conservator for Fannie Mae and Freddie Mac in the wake of the 2008 housing market crash rather than prioritize the interest of the companies' shareholders.

  • April 21, 2026

    Lender Asks If Weed Co. Cash-Seizure Ban Applies At Maturity

    A lender has asked a New Jersey federal court whether an order that blocked it from seizing a cannabis company's assets or cash amid a dispute over whether the company defaulted on loans applies to any default over the failure to pay the principal and interest due at maturity.

  • April 21, 2026

    Ga. Attorney Gives Up License After Wire Fraud Conviction

    The Georgia Supreme Court signed off Tuesday on removing the law license of an attorney who pled guilty to conspiracy to commit wire fraud in December and agreed to cooperate with federal prosecutors against a co-conspirator in a scheme involving fraudulent commercial and real estate deals.

  • April 21, 2026

    $210M Appeal Bond Should Be $25M, Oil Exec Tells 5th Circ.

    The founder of Exxon-acquired company InterOil has asked the Fifth Circuit to approve a $25 million supersedeas bond as opposed to an amount exceeding $210 million due to a final judgment against him and his family.

  • April 21, 2026

    Warsh Rejects Claim He'd Be Trump's 'Sock Puppet' At Fed

    Federal Reserve chair nominee Kevin Warsh sought at his Tuesday confirmation hearing to rebut Democratic accusations that he would be a White House "sock puppet," distancing himself from President Donald Trump's calls for rate cuts and downplaying their significance.

  • April 21, 2026

    Attys Get $20M Cut Of $84M Wells Fargo ESOP Deal

    A Minnesota federal judge has greenlit a $20 million fee request from attorneys who secured an $84 million settlement in a suit claiming Wells Fargo violated federal benefits law by using dividends earned by its employee stock ownership fund to offset its 401(k) contributions.

  • April 21, 2026

    Mass. Man Says Coinbase, Kraken Failed To Stop $500K Scam

    Cryptocurrency platforms Coinbase and Kraken failed to adequately protect a Boston man from a sophisticated "support" scam that led to the loss of $500,000, according to a lawsuit filed in Massachusetts state court on Tuesday.

  • April 20, 2026

    UK Wine Fraudster Gets 10 Years For $97M Ponzi Scheme

    A Brooklyn federal judge on Monday sentenced a former executive of a U.K. wine company to 10 years in prison for his role in a $97 million Ponzi scheme that defrauded investors in loans that were falsely billed as being fully collateralized by high-value wine collections, calling it a "very brazen crime that led to mass amounts of theft."

  • April 20, 2026

    US Firm Kicks Off Ukraine Claim Over Alleged Asset Grab

    A California entity that previously bought the assets of liquidated Ukrainian banks has initiated an investment treaty claim against Ukraine after its license to do so was yanked, weeks after it slapped the country with a $127 million lawsuit in Washington, D.C., accusing it of violating international law.

  • April 20, 2026

    9th Circ. Open To Reviving FCRA Suit Against Wells Fargo

    A Ninth Circuit panel appeared open Monday to reviving a proposed class action alleging Wells Fargo violated the Fair Credit Reporting Act by pulling credit reports after fraudsters opened illegitimate accounts, with one judge expressing concerns the dismissal was "jumping the gun" and another judge criticizing the ruling as ambiguous.

Expert Analysis

  • AG Watch: New York's Heightened Enforcement In Real Estate

    Author Photo

    Over the past several months, New York Attorney General Letitia James has brought a rapid succession of enforcement actions targeting rent stabilization abuse, unsafe housing conditions and fraudulent securities practices, signaling that the office views these problems as systemic issues warranting aggressive intervention, say attorneys at Quinn Emanuel.

  • Assessing Potential Legal Claims From Private Credit Turmoil

    Author Photo

    Amid the downturn in the private credit markets spurred by multiple high-profile bankruptcies, a New York lawsuit stemming from the collapse of First Brands provides an important case study for investors to help minimize future losses and maximize any potential recovery in the event of a private credit default, say attorneys at Bleichmar Fonti.

  • Stablecoin Yield Reform Raises Stakes For Community Banks

    Author Photo

    Risks for community banks are heightened by the Clarity and Genius Acts, which establish stablecoin market parameters and may lead to traditional bank fund withdrawals in the long term, but a recent Senate amendment to the former bill could prevent deposit runoff, says Thomas Walker at Jones Walker.

  • What To Watch At The 2026 ABA Antitrust Spring Meeting

    Author Photo

    Attorneys at Freshfields consider the future of antitrust law and competition among developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.

  • How DOJ's New Corporate Crime Policy Will Work In Practice

    Author Photo

    The upshot of the Justice Department's new corporate crimes enforcement framework is uniformity for self-reporting companies, but there is uncertainty around how it will be applied in interaction with the Southern District of New York's more lenient, yet unpredictable, financial crimes enforcement program, say attorneys at Cahill Gordon.

  • What FINRA Enforcement Changes Mean For Investigations

    Author Photo

    It is essential for in-house counsel and compliance officers to familiarize themselves with the Financial Industry Regulatory Authority's recently announced changes to its enforcement program, which offer both clearer visibility into FINRA's expectations and a valuable opportunity to strengthen regulatory readiness, say attorneys at Eversheds Sutherland.

  • One Idea To Fix The SEC's Risk Factor Disclosure Rules

    Author Photo

    U.S. Securities and Exchange Commission Chairman Paul Atkins recently invited the industry to suggest ways to reform the current risk factor disclosure framework, and amending Rule 10b-5 is one potential option to consider, say attorneys at A&O Shearman.

  • Agentic AI Use May Trigger Existing Consumer Finance Laws

    Author Photo

    As artificial intelligence agents interact more and more with payment systems, financial institutions should be cognizant of how existing consumer protection laws like the Equal Credit Opportunity Act apply when transactions are executed by automated systems rather than individuals, noting authorization and liability gaps, say attorneys at Sheppard.

  • SEC Guidance Further Solidifies Status Of Tokenized Assets

    Author Photo

    The U.S. Securities and Exchange Commission recently released a statement that tokenized securities are securities governed by traditional securities laws, representing continued regulatory clarity and the development of expanded technical standards and risk management guidelines that can only improve the long-term viability of financial markets, say attorneys at Barnes & Thornburg.

  • 5 Tips For Navigating Your Firm's All-Attorney Summit

    Excerpt from Practical Guidance
    Author Photo

    Law firm retreats should be approached strategically, as they present valuable opportunities to advance both the firm's objectives and attorneys' professional development through meaningful participation, building and strengthening internal relationships, and proactive follow-up, says James Argionis at Cozen O’Connor.

  • CFTC's No-Action Relief Fuels Energy Market Competition

    Author Photo

    The U.S. Commodity Futures Trading Commission recently launched a pilot program aimed at expanding access to energy markets, reflecting a shift toward supporting robust derivatives markets that balance regulatory safeguards with the needs of commodity end users, say attorneys at Moore & Van Allen.

  • Opinion

    Clarity Act Would Clear Welcome Pathways For Blockchain

    Author Photo

    The framework proposed under the Senate Banking Committee's version of the Clarity Act creates reasonable compliance obligations and meaningful token-distribution opportunities that would open the door for more U.S.-based blockchain projects, without the heightened risk of securities litigation and regulatory enforcement, says Karen Ubell at Goodwin.

  • AI Is Changing The Game For Lenders' Vendor Governance

    Author Photo

    Recent guidance from Freddie Mac and the Treasury Department reinforces that expectations surrounding AI oversight are beginning to shape how mortgage lenders operationalize vendor governance, which is emerging as a critical compliance challenge for the decade ahead, says Alexandra Temple at Mitchell Sandler.

  • How Data Centers Can Prep For Legal Challenges Amid War

    Author Photo

    Amid conflict in the Middle East, data centers may now be exposed to state-level kinetic threats, creating significant legal, regulatory and contractual implications, so operators should update their legal and operational frameworks in order to withstand future disruptions and meet the regulator expectations, say attorneys at Baker Botts.

  • Series

    Coaching Soccer Makes Me A Better Lawyer

    Author Photo

    Coaching youth soccer for my 7-year-old son's team has sharpened how I communicate with clients, prepare witnesses, work within teams and think about leadership, making me a more thoughtful and effective lawyer in many ways, says Joshua Holt at Smith Currie.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Banking archive.