Banking

  • 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.

  • October 08, 2025

    Big Banks' Gain Could Be Small Banks' Pain, Fed's Barr Says

    Federal regulators' plans to ease capital rules and other supervisory safeguards at big banks may jeopardize financial stability and leave community banks to pick up the pieces if something goes wrong, Federal Reserve Gov. Michael Barr warned in a speech Wednesday.

  • October 08, 2025

    5th Circ. Wary Of TitleMax Affiliate's Aim To Skip Usury Case

    A Fifth Circuit panel appears skeptical of a TitleMax affiliate's argument that it should get to escape the Pennsylvania Department of Banking and Securities usury case alleging the affiliate breached state law, saying Wednesday the proceedings looked like typical state police power.

  • October 08, 2025

    North Dakota To Issue Stablecoin Through State-Owned Bank

    North Dakota on Wednesday announced plans to issue its own stable-value token through a partnership between fintech Fiserv Inc. and the state-owned Bank of North Dakota.

  • October 08, 2025

    Exxon Retail Voting Program Green Light Inspires Other Cos.

    The U.S. Securities and Exchange Commission's recent green light of Exxon Mobil Corp.'s program to enable automated proxy voting for retail investors has sparked interest among other firms exploring implementing their own such programs, as the oil and gas giant moves to counter activist groups.

  • October 08, 2025

    3rd Circ. Upholds Ruling In Debt Collector's Trade Secrets Suit

    A Third Circuit let stand a ruling that work passwords are not trade secrets and that the Computer Fraud and Abuse Act is inapplicable to workplace policy violations in an appeal from a debt collection company suing two former employees.

  • October 08, 2025

    Gov't Shutdown Essentially 'Freezes' IPO Market, Attys Say

    While the U.S. Securities and Exchange Commission technically remains open during the ongoing government shutdown that has now exceeded one week, staffing shortages have made it increasingly difficult for companies to launch initial public offerings, leaving them with few options.

  • October 08, 2025

    AFL-CIO Opposes Draft Senate Crypto Bill

    A major labor organization, the AFL-CIO, has come out against a Republican draft bill on crypto market structure, saying the draft lacks "meaningful safeguards."

Expert Analysis

  • Cos. Face Convergence Of Anti-Terrorism Act, FCPA Risks

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    Recent moves by the U.S. Department of Justice to classify cartels and transnational criminal organizations as terrorist groups, and to use a range of statutes including the Foreign Corrupt Practices Act to pursue these types of targets, mean that companies operating in certain jurisdictions are now subject to overlapping exposure, say attorneys at Miller & Chevalier.

  • Feds' Shift On Reputational Risk Raises Questions For Banks

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    While banking regulators' recent retreat from reputational risk narrows the scope of federal oversight in some respects, it also raises practical questions about consistency, reputational management and the evolving political landscape surrounding financial services, say attorneys at Smith Anderson.

  • Series

    Playing Mah-Jongg Makes Me A Better Mediator

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    Mah-jongg rewards patience, pattern recognition, adaptability and keen observation, all skills that are invaluable to my role as a mediator, and to all mediating parties, says Marina Corodemus.

  • Business Court Bill Furthers Texas' Pro-Corporate Strategy

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    The Texas Legislature's recent bill to enhance corporate protections and expand access to the Texas Business Court by refining its jurisdictional standards is just the latest step in the state's playbook for becoming the new center of corporate America, say attorneys at Katten.

  • 2 NY Cases May Clarify Foreclosure Law Retroactivity

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    Two pending cases may soon provide the long-awaited resolution to the question of whether retroactive application of the New York Foreclosure Abuse Prevention Act violates the state Constitution, providing a guide for New York courts inundated with motions in foreclosure and quiet title actions, says Fernando Rivera Maissonet at Hinshaw & Culbertson.

  • Series

    Law School's Missed Lessons: Navigating Client Trauma

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    Law schools don't train students to handle repeated exposure to clients' traumatic experiences, but for litigators practicing in areas like civil rights and personal injury, success depends on the ability to view cases clinically and to recognize when you may need to seek help, says Katie Bennett at Robins Kaplan.

  • What To Expect As UK, US Gov'ts Develop Stablecoin Policies

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    While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.

  • Series

    Texas Banking Brief: All The Notable Legal Updates In Q2

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    In the second quarter of 2025, the Texas Business Court's newly expanded jurisdiction set the stage for rising caseloads, while the state Legislature narrowed an exception to state bank control requirements and closed a cryptocurrency dividends payments loophole, say attorneys at Mayer Brown.

  • Yacht Broker Case Highlights Industry Groups' Antitrust Risk

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    The Eleventh Circuit recently revived class claims against the International Yacht Brokers Association, signaling that commission-driven industries beyond real estate are vulnerable to antitrust challenges after the National Association of Realtors settled similar allegations last year, says Miles Santiago at the Southern University Law Center and Alex Hebert at Southern Compass.

  • Opinion

    4 Former Justices Would Likely Frown On Litigation Funding

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    As courts increasingly confront cases involving hidden litigation finance contracts, the jurisprudence of four former U.S. Supreme Court justices establishes a constitutional framework that risks erosion by undisclosed financial interests, says Roland Eisenhuth at the American Property Casualty Insurance Association.

  • Congress Crypto Movement Could Bring CFTC 'Clarity' At Last

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    The Clarity Act's arrival at the House floor during "Crypto Week" in Congress demonstrates enduring bipartisan support for legislation addressing digital assets and the Commodity Futures Trading Commission's important role in a future regulatory structure, say attorneys at DLA Piper.

  • Stablecoin Bills Present Opportunities, Challenges For Banks

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    Stablecoin legislation that Congress is expected to adopt in the coming weeks — the GENIUS and STABLE Acts — would create openings for banks to engage in digital asset activities, but it also creates a platform for certain tech-savvy nonbanks to directly compete, say attorneys at Arnold & Porter.

  • How Attys Can Use AI To Surface Narratives In E-Discovery

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    E-discovery has reached a turning point where document review is no longer just about procedural tasks like identifying relevance and redacting privilege — rather, generative artificial intelligence tools now allow attorneys to draw connections, extract meaning and tell a coherent story, says Rose Jones at Hilgers Graben.

  • Opinion

    GENIUS Act Could Muck Up Insolvency Proceedings

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    While some of the so-called GENIUS Act's insolvency provisions are straightforward, others run the risk of jeopardizing the success of stablecoin issuers' insolvency proceedings and warrant another look from Congress, say attorneys at Morgan Lewis.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q2

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    The second quarter saw California become a more active protector of consumers in response to federal regulatory pullback, with regulators proposing a licensing framework for digital asset businesses, ending an enforcement exemption and otherwise signaling further expansions of oversight and enforcement, say attorneys at Stinson.

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