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Featured
CFPB 'Will Continue Operations' As Gov't Shutdown Hits
The Consumer Financial Protection Bureau has told its staff to expect business as usual amid the government shutdown that began Wednesday, assuring them that operations, pay and benefits will continue uninterrupted, according to an internal email obtained by Law360.
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October 01, 2025
SEC Gives Crypto Custody Nod To State Trust Companies
The U.S. Securities and Exchange Commission staff has assured registered investment advisers and certain fund issuers they won't risk an enforcement action by using state trust companies as cryptocurrency custodians in a move that some praised as widening access to more crypto-savvy custody options and others decried as an erosion of custody rules.
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October 01, 2025
SEC Wins Case Over Alpine's 'Worthless' Penny-Stock Sales
The U.S. Securities and Exchange Commission has secured a win in Nevada federal court in its lawsuit accusing a Utah securities firm of violating federal anti-fraud provisions by transferring roughly $54 million in client assets from customer accounts to state unclaimed property accounts.
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October 01, 2025
Ex-CFTC Enforcement Head, DOJ Veteran Joins Jones Day
Jones Day has hired a former director of the U.S. Commodity Futures Trading Commission's Division of Enforcement who is also a nearly two-decade alumnus of the U.S. Department of Justice.
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October 01, 2025
Wash. Appeals Panel Reopens Teachers' Pension Interest Suit
A Washington state appeals court unanimously revived a class action claim that accuses a state pension agency of unlawfully skimming interest from teachers' retirement accounts, holding that a lower court was wrong to decide that it couldn't take up the matter.
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October 01, 2025
Here's How The SEC Survived 2 Prior Shutdowns
The U.S. Securities and Exchange Commission sent home 90% of its staff Wednesday, including the bulk of its enforcement division, as the agency braces for a shutdown of uncertain length by drawing on lessons from two prior long-running impasses in the past 12 years.
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October 01, 2025
Trump Withdraws Nomination Of Quintenz For CFTC Chair
President Donald Trump has withdrawn his nomination of Brian Quintenz to lead the U.S. Commodity Futures Trading Commission, following a delay at the president's request of a Senate committee vote on the nomination and Quintenz's public feud with crypto exchange founders Tyler and Cameron Winklevoss.
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October 01, 2025
Trump Moves To Elevate FDIC's Hill To Permanent Chair
President Donald Trump has nominated the Federal Deposit Insurance Corp.'s acting Chairman Travis Hill to lead the deposit insurer on a permanent basis, the White House confirmed Wednesday.
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October 01, 2025
UBS Says Ex-Advisers Poached $1.4B In Clients For New Firm
UBS Financial Services has accused several of its former financial advisers of violating nonsolicitation and confidentiality agreements by plotting to launch a rival firm and poaching clients with $1.4 billion in assets, damaging UBS and its other former employees still entitled to client revenue.
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October 01, 2025
Mich. Judge Slashes RICO Claims Against Mortgage Lender
A Michigan federal judge has dismissed the bulk of a proposed class action accusing United Wholesale Mortgage of forcing mortgage brokers to originate loans with UWM instead of shopping around for the best options for borrowers.
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October 01, 2025
4th Circ. Won't Rehear Consultancy's $5M SBA Loan Suit
The Fourth Circuit declined to reconsider a global consultancy and risk management company's lawsuit against the U.S. Small Business Administration in which the consultant argued its $5 million loan was eligible for COVID-19 debt relief.
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October 01, 2025
Ga. Law Firm Looks To Ax Bank's Malpractice Suit Over Fraud
Stanley Esrey & Buckley LLP has urged a Georgia state appeals court to dismiss claims from a bank accusing it of legal malpractice and negligence, arguing that it did not cause the bank to lose more than $8 million through bogus loan transactions.
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October 01, 2025
Simpson Thacher Taps Barclays Atty For Shareholder Group
Simpson Thacher & Bartlett LLP announced on Wednesday it has hired a former Barclays Capital attorney to lead its shareholder engagement and activism defense group.
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October 01, 2025
3 Firms Guide Rocket Merger To Close With $14.2B Valuation
Online mortgage giant Rocket has finished its all-stock purchase of rival Mr. Cooper Group with help from Paul Weiss, Wachtell Lipton and Bradley Arant, noting Wednesday the now-$14.2 billion deal has a higher price tag because stock values have risen since the merger's announcement.
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October 01, 2025
High Court Lets Fed's Cook Keep Job For Now
The U.S. Supreme Court said Wednesday that it will wait to hear oral arguments early next year before ruling on President Donald Trump's bid to immediately oust Federal Reserve Gov. Lisa Cook, a move that will allow her to remain on the job in the meantime.
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September 30, 2025
Banker Defamed Jack Nicklaus After Pact Ended, Jury Told
Jack Nicklaus told a Florida state court jury on Tuesday that a banker and his associates defamed him after discontinuing a 15-year business relationship, saying their public relations campaign intentionally smeared his reputation after he refused to make a deal with Saudi Arabia.
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September 30, 2025
Merrill Lynch Denied Bid To Block Rival Firm's Launch
A Georgia federal judge on Tuesday refused to grant Merrill Lynch's bid for a temporary restraining order against a dozen former employees, Charles Schwab and Dynasty Financial Partners in a case concerning an alleged attempt to start a new independent financial advisory firm with Merrill's staff and confidential information.
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September 30, 2025
Morgan Stanley Gets Fed Capital Buffer Break After Review
The Federal Reserve Board said Tuesday that it has lowered a key capital requirement for Morgan Stanley after reconsidering its stress-testing results, marking the second time a bank has successfully petitioned for such a break.
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September 30, 2025
Murdaugh's Banker Sentenced To 60 Months After Guilty Plea
The onetime bank CEO who pled guilty in South Carolina federal court to helping ex-lawyer and convicted murderer Alex Murdaugh steal client money has been sentenced to 60 months in prison, the same amount specified in his plea deal.
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September 30, 2025
Regions Bank Brass Must Face Suit Over $191M CFPB Fine
A Delaware chancellor ruled Tuesday that most board members of Regions Bank cannot escape a shareholder derivative suit over a $191 million fine the bank paid to the Consumer Financial Protection Bureau in 2022 for charging unlawful "surprise" overdraft fees on certain debit card transactions and ATM withdrawals.
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September 30, 2025
Credit Suisse Aided Looting Of Tech Exec's Stock, Suit Says
The co-founder of sensing-tech company Aeva Technologies says Credit Suisse provided "institutional cover" to conspirators who stole tens of millions of dollars in Aeva shares from him in what he described as a "calculated, multi-year orchestrated racketeering scheme," according to a suit filed Tuesday in New York federal court.
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September 30, 2025
Waters Warns CFPB Furloughs Would Be 'Baseless,' 'Harmful'
A senior Democrat in the U.S. House of Representatives is warning the Consumer Financial Protection Bureau not to use a looming government shutdown as a "pretext" to furlough employees at the agency, arguing that such an unpaid work stoppage would be unnecessary and dangerous.
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September 30, 2025
FinCEN Seeks Feedback On Financial Compliance Burden
The U.S. Treasury Department's enforcement arm requested feedback Tuesday on the compliance burden for financial institutions responding to the agency's information requests "as part of its continuing efforts to reduce paperwork and respondent burden."
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September 30, 2025
UBS Beats Investors' Swiss Franc Rate Rigging Suit For Good
A New York federal judge has dismissed claims against UBS AG in a long-running case alleging financial institutions conspired to rig the Swiss franc Libor, saying the plaintiffs failed to demonstrate they had been assigned the necessary recovery rights to pursue their claims.
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September 30, 2025
SEC Approves Cost Cuts For Consolidated Audit Trail
The U.S. Securities and Exchange Commission on Tuesday approved a plan that it says could save at least $20 million a year by adopting new data retention standards for a key market surveillance tool, with the agency's chair promising to cut the "ballooning" costs of the market tool even further in the coming months and years.
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September 30, 2025
Bain Capital-Backed SPAC Leads 3 Offerings Totaling $670M
Three special purpose acquisition companies hit the public markets Tuesday after raising a combined $670 million in their initial public offerings, joining a surge in SPAC listings recently.
Expert Analysis
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$100K H-1B Fee May Disrupt Rural Healthcare Needs
The Trump administration's newly imposed $100,000 supplemental fee on new H-1B petitions may disproportionately affect healthcare employers' ability to recruit international medical graduates, and the fee's national interest exceptions will not adequately solve ensuing problems for healthcare employers or medically underserved areas, say attorneys at Holland & Knight.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q3
The third quarter of 2025 brought legislative changes to state money transmission certification requirements and securities law obligations, as well as high-profile accounting and anti-money laundering compliance enforcement actions by the Department of Financial Protection and Innovation, say attorneys at Ropes & Gray.
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What Ethics Rules Say On Atty Discipline For Online Speech
Though law firms are free to discipline employees for their online commentary about Charlie Kirk or other social media activity, saying crude or insensitive things on the internet generally doesn’t subject attorneys to professional discipline under the Model Rules of Professional Conduct, says Stacie H. Rosenzweig at Halling & Cayo.
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A Mortgage Lender's Guide To State Licensing Overhaul
Recent changes to the Conference of State Bank Supervisors' Nationwide Mortgage Licensing System require careful attention and planning from mortgage lenders, including tweaks to remote work designations and individual disclosure questions, says Allison Schilz at Mitchell Sandler.
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2 Rulings Highlight IRS' Uncertain Civil Fraud Penalty Powers
Conflicting decisions from the U.S. Tax Court and the Northern District of Texas that hinge on whether the IRS can administratively assert civil fraud penalties since the U.S. Supreme Court’s 2024 decision in SEC v. Jarkesy provide both opportunities and potential pitfalls for taxpayers, says Michael Landman at Bird Marella.
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Junior Attys Must Beware Of 5 Common Legal Brief Mistakes
Excerpt from Practical Guidance
Junior law firm associates must be careful to avoid five common pitfalls when drafting legal briefs — from including every possible argument to not developing a theme — to build the reputation of a sought-after litigator, says James Argionis at Cozen O'Connor.
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As Student Loan Outlook Dims, What Happens To The Banks?
While much of the news around the student loan crisis focuses on the direct impact on young Americans' decreasing credit scores, the fate of the banks themselves — and the effect on banking policy — has been largely left out of the narrative, says Madeline Thieschafer at Fredrikson & Byron.
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Digital Asset Report Opens Doors For Banks, But Risks Linger
A recent report from a White House working group discussing digital asset market structure signals how banks may elect to expand into digital asset custody, trading and related services in the years ahead, but the road remains layered with challenges, say attorneys at Foley & Lardner.
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Series
Power To The Paralegals: How And Why Training Must Evolve
Empowering paralegals through new models of education that emphasize digital fluency, interdisciplinary collaboration and human-centered lawyering could help solve workforce challenges and the justice gap — if firms, educators and policymakers get on board, say Kristine Custodio Suero and Kelli Radnothy.
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5 Real Estate Takeaways From Trump's Sweeping Tax Law
Changes to the Internal Revenue Code included in the One Big Beautiful Bill Act will have a range of effects on real estate sponsors, investors and real estate investment trusts — from more compliance flexibility around taxable REIT subsidiary limits to new considerations raised by a key retaliatory tax provision that was left out, say attorneys at DLA Piper.
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Series
Playing Softball Makes Me A Better Lawyer
My time on the softball field has taught me lessons that also apply to success in legal work — on effective preparation, flexibility, communication and teamwork, says Sarah Abrams at Baleen Specialty.
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Analyzing AI's Evolving Role In Class Action Claims Admin
Artificial intelligence is becoming a strategic asset in the hands of skilled litigators, reshaping everything from class certification strategy to claims analysis — and now, the nuts and bolts of settlement administration, with synthetic fraud, algorithmic review and ethical tension emerging as central concerns, says Dominique Fite at CPT Group.
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11th Circ.'s FCRA Standing Ruling Offers Compliance Lessons
The Eleventh Circuit's recent decision in Nelson v. Experian on establishing Article III standing under the Fair Credit Reporting Act should prompt businesses to survey FCRA compliance programs, review open matters for standing defenses and refresh training materials, say attorneys at Nixon Peabody.
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Series
Law School's Missed Lessons: Mastering Time Management
Law students typically have weeks or months to prepare for any given deadline, but the unpredictability of practicing in the real world means that lawyers must become time-management pros, ready to adapt to scheduling conflicts and unexpected assignments at any given moment, says David Thomas at Honigman.
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How Prohibiting Trigger Leads May Affect Mortgage Marketing
Recent amendments to the Fair Credit Reporting Act prohibiting the sale of trigger leads mark a significant shift in the regulatory landscape for mortgage lenders, third-party lead generators and their legal counsel, who should reevaluate lead generation strategies and compliance protocols, say Joel Herberman, Rob Robilliard and Leah Dempsey at Brownstein Hyatt.