Banking

  • July 23, 2025

    Fla. Man Gets 5 Years In Jail For Hiding Swiss Bank Accounts

    A Florida federal judge on Wednesday sentenced a Miami man to five years in prison on a conspiracy-related count in connection with evading taxes on approximately $20 million he held in Swiss bank accounts and setting up trusts in an attempt to hide assets.

  • July 23, 2025

    Trump Admin Appeals Ruling On NCUA Board Member Firings

    The Trump administration has asked a Washington, D.C., federal judge to pause a ruling reinstating two ousted Democratic members of the National Credit Union Administration board, arguing the decision represents an "extraordinary intrusion" into presidential power and is being swiftly appealed.

  • July 23, 2025

    Wells Fargo Gets Partial Early Win In Processing Servicer Suit

    A Tennessee federal judge has granted a partial early win to Wells Fargo and a merchant services provider in a breach of contract suit brought by so-called independent sales organization TX Direct, finding that the contract between the parties had already been terminated when TX Direct was allegedly locked out of a merchant onboarding portal.

  • July 23, 2025

    PREPA Bondholders Say Utility Swiped $2.9 Billion

    The electric utility for Puerto Rico on Wednesday defended itself in New York bankruptcy court from allegations that it had improperly spent its revenues, which the bondholders claim as collateral for $8.5 billion worth of bonds.

  • July 23, 2025

    9th Circ. Revives Barrett Business Services' Secrets Case

    The Ninth Circuit has reinstated Barrett Business Services Inc.'s claims of trade secret theft against two former employees, their wives and a competing company they started.

  • July 23, 2025

    DC Co. Sues Société Générale Over $29M Loan Deal

    A District of Columbia property owner has accused Société Générale Financial Corp. in D.C. federal court of violating an agreement related to a $29 million refinancing loan when the bank corporation refused to fund the loan after realizing that it couldn't find a favorable secondary market buyer for the loan.

  • July 23, 2025

    Unlicensed $1M Crypto Exchange Operator Pleads Guilty

    A 56-year-old Connecticut man has pled guilty to charging fees for swapping more than $1 million in cash, checks and money orders for cryptocurrency at a West Haven business that didn't obtain a license from the state banking commissioner.

  • July 23, 2025

    US Says It's Immune In Booz Allen Worker Tax Info Leak Suit

    A proposed class action seeking to hold the federal government and its contractor Booz Allen Hamilton responsible for a leak of thousands of wealthy people's tax returns, including President Donald Trump's, cannot move forward against the U.S., the government argued Wednesday, saying it's immune from the suit.

  • July 23, 2025

    Ex-Real Estate Finance Pro Tapped For OCC Chief Of Staff

    President Donald Trump's top national bank regulator has hired a new chief of staff, bringing on a former federal housing finance official from the private sector to help steer policy coordination and internal operations at the Office of the Comptroller of the Currency, the agency said Wednesday.

  • July 23, 2025

    CFTC Settles With Puerto Rico-Based Gas Futures Trader

    The Commodity Futures Trading Commission and a Puerto Rico-based natural gas futures trader on Wednesday announced that they had reached a settlement, ending the agency's suit alleging that the trader used nonpublic information to make profitable energy trades.

  • July 23, 2025

    NY Finance Atty Joins Proskauer From A&O Shearman

    Proskauer Rose LLP announced that an experienced finance attorney who's spent over 20 years primarily working on collateralized loan obligations has joined the firm's New York office from Allen Overy Shearman Sterling.

  • July 23, 2025

    Bradley Arant Taps Arnall Golden Fintech Pro In Atlanta

    Bradley Arant Boult Cummings LLP has added a former Arnall Golden Gregory LLP attorney as a partner in the firm's banking and financial services group to extend its Atlanta team counseling technology companies.

  • July 23, 2025

    Feds Launch Forfeiture Suit For $7M In Fraud-Linked Crypto

    The acting U.S. attorney for the Western District of Washington said she is pushing for the forfeiture of about $7 million in cryptocurrency assets seized as part of an investigation into an oil and gas investment fraud scheme.

  • July 23, 2025

    Jones Day Guides Corpay On $2.2B Alpha Group Acquisition

    Jones Day-advised Corpay Inc. said Wednesday it has agreed to acquire Alpha Group International PLC in a deal that values the U.K.-based foreign exchange platform at approximately $2.2 billion (£1.6 billion), following a months-long courtship that included the rejection of a prior Corpay offer. 

  • July 22, 2025

    Trump's NCUA Board Member Firings Were Illegal, Judge Says

    A D.C. federal judge on Tuesday held that President Donald Trump broke the law when he fired two Democratic credit union regulators, finding that the members must remain on the National Credit Union Administration's board and can only be removed before their terms are up for cause.

  • July 22, 2025

    Chime Facing Class Suit In Wash. Over 'Refer-A-Friend' Texts

    Online banking company Chime has been breaking a Washington state ban on unsolicited texts by encouraging customers to send "refer a friend" messages in order to expand its reach, according to a new proposed class action.

  • July 22, 2025

    Basel Exit Could Hurt US Influence, Experts Warn At Fed Event

    Banking industry experts warned Tuesday that the U.S. risks undermining its global influence and keeping bank capital costs elevated if it doesn't implement some form of the so-called Basel III endgame, with one former Federal Reserve official likening the prospect of such a retreat to the "Peanuts" gag of Lucy yanking the football from Charlie Brown.

  • July 22, 2025

    OCC Defends Ex-Wells Fargo Exec's $10M Fake Accounts Fine

    The Office of the Comptroller of the Currency has urged the Eighth Circuit to uphold a $10 million penalty and industry ban against a former Wells Fargo risk executive for her role in the bank's fake accounts scandal, arguing her post-Jarkesy claims rest on a "fundamental misconception" of the Constitution.

  • July 22, 2025

    Bitcoin ATM Co. Enables Crypto Scams, Class Action Says

    A retiree who lost $7,000 to scammers filed a proposed class action against bitcoin ATM operator Bitcoin Depot Inc., claiming the company facilitates schemes that target the elderly by failing to intervene in suspicious transactions, misrepresenting its services' security and continuing to take a cut of "red flag" transactions.

  • July 22, 2025

    Judge Rejects Bondholder Claim Against Puerto Rico

    A New York federal judge found Tuesday the terms of Puerto Rico's debt restructuring plan bars holders of bonds issued by the island's public electric utility from lodging a claim against its government.

  • July 22, 2025

    Ex-Bank Worker's 401(k) Suit Must Be Arbitrated, 5th Circ. Told

    A Laredo, Texas-based bank told the Fifth Circuit Monday that a former worker should be forced to arbitrate a proposed class action claiming the company failed to prudently invest employee retirement funds, even though the provision was added after his employment ended.

  • July 22, 2025

    Viks Demand End To Deutsche Bank's 'Egregious' Norway Suit

    Billionaire Alexander Vik and his daughter have opened a new front in a 12-year litigation war with Deutsche Bank AG over an outstanding $243 million judgment, arguing in a Connecticut federal court complaint that the financial giant must end its own "vexatious" lawsuit against them in Norway because the issues were already decided in the Viks' favor.

  • July 22, 2025

    Dickinson Wright, Shumaker Guide $95M Bank Merger

    Mercantile Bank Corp. and Eastern Michigan Financial Corp. announced Tuesday that they have entered into an agreement under which Eastern Michigan Financial and its wholly owned subsidiary will merge with Mercantile in a cash and stock transaction valued at approximately $95.8 million, in a deal guided by Dickinson Wright PLLC and Shumaker Loop & Kendrick LLP.

  • July 22, 2025

    Samourai Wallet Execs Could Explore Plea Deals, Judge Says

    Two Samourai Wallet executives accused of using the crypto-mixing service to facilitate $2 billion in illegal transactions denied charges in an updated indictment Tuesday, before a Manhattan federal judge suggested they could explore plea talks ahead of their November trial.

  • July 22, 2025

    Capital One Gets Discovery Pause In Trump De-Banking Suit

    A Florida federal judge on Tuesday paused discovery in the lawsuit brought by President Donald Trump's revocable trust and Eric Trump against Capital One, citing a possibility the complaint — alleging the bank canceled hundreds of Trump-affiliated accounts after the Jan. 6, 2021, riot at the U.S. Capitol — could be dismissed. 

Expert Analysis

  • Lessons From FTC Action On Dark Patterns In User Interfaces

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    The Federal Trade Commission's recent complaint against Uber for its billing and cancellation practices comes amid other actions addressing consumer confusion and deception, so it is paramount to deploy tools that assess customers' cognitive states of mind to separate lawful marketing from misconduct, says Ceren Canal Aruoba at Berkeley Research Group.

  • SEC Staff Input Eases Path For Broker-Dealer Crypto Activities

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    Recent guidance from U.S. Securities and Exchange Commission staff on broker-dealer and transfer agent crypto-asset activities suggests a more constructive regulatory posture on permissibility and application of financial responsibility rules, bringing welcome clarity for blockchain market participants and traditional financial institutions alike, say attorneys at Sidley.

  • Compliance Essentials To Mitigate AI Crime Enforcement Risk

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    As artificial intelligence systems move closer to accurately mimicking human decision-making, companies must understand how the U.S. Department of Justice might prosecute them for crimes committed by AI tools — and how to mitigate enforcement risks, say attorneys at Paul Hastings.

  • Series

    Adapting To Private Practice: From US Attorney To BigLaw

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    When I transitioned to private practice after government service — most recently as the U.S. attorney for the Eastern District of Virginia — I learned there are more similarities between the two jobs than many realize, with both disciplines requiring resourcefulness, zealous advocacy and foresight, says Zach Terwilliger at V&E.

  • 11th Circ. Ruling Warns Parties To Follow Arbitral Rules

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    The Eleventh Circuit's recent decision in Merritt Island Woodwerx v. Space Coast is important for companies utilizing arbitration clauses because it clearly demonstrates the court's intent to hold noncompliant parties responsible in federal court — regardless of subsequent efforts to cure, says Ed Mullins at Reed Smith.

  • How The DOJ Is Redesigning Its Approach To Digital Assets

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    Two key digital asset enforcement policy pronouncements narrow the Justice Department's focus on threats like fraud, terrorism, trafficking and sanctions evasion and dial back so-called regulation by prosecution, but institutions prioritizing compliance must remember that the underlying statutory framework hasn't changed, say attorneys at Blank Rome.

  • At 'SEC Speaks,' Leaders Frame New Views

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    At the Practising Law Institute's recent SEC Speaks conference, U.S. Securities and Exchange Commission leadership highlighted the agency's significant priority changes, including in enforcement, crypto and artificial intelligence, say attorneys at Perkins Coie.

  • The Ins And Outs Of Consensual Judicial References

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    As parties consider the possibility of judicial reference to resolve complex disputes, it is critical to understand how the process works, why it's gaining traction, and why carefully crafted agreements make all the difference, say attorneys at Pillsbury.

  • Calif. Digital Assets Proposal Provides Only Partial Clarity

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    Recently proposed regulations under California's Digital Financial Assets Law answer some important questions about the new regime, particularly regarding its interaction with the state's money transmission law, but many key compliance questions remain, say attorneys at Stinson.

  • Opinion

    The BigLaw Settlements Are About Risk, Not Profit

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    The nine Am Law 100 firms that settled with the Trump administration likely did so because of the personal risk faced by equity partners in today's billion‑dollar national practices, enabled by an ethics rule primed for modernization, says Adam Forest at Scale.

  • Fla. Bill May Curb Suits Over Late-Night Collections Emails

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    A recently passed Florida bill exempting email communications from the Florida Consumer Collection Practices Act's quiet hours ban may significantly reduce frivolous lawsuits aimed at creditors and debt collectors who use email communications to collect outstanding balances from consumers, say attorneys at Holland & Knight.

  • Series

    Brazilian Jiujitsu Makes Me A Better Lawyer

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    Competing in Brazilian jiujitsu – often against opponents who are much larger and younger than me – has allowed me to develop a handful of useful skills that foster the resilience and adaptability necessary for a successful legal career, says Tina Dorr of Barnes & Thornburg.

  • Birthright Ruling Could Alter Consumer Financial Litigation

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    The U.S. Supreme Court’s upcoming decision about the validity of the nationwide injunctions in the birthright citizenship cases, argued on May 15, could make it much harder for trade associations to obtain nationwide relief from the Consumer Financial Protection Bureau's enforcement of invalid regulations, says Alan Kaplinsky at Ballard Spahr.

  • Energy Order Brings Risks For Lenders And Borrowers Alike

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    A recent executive order directing the attorney general to submit a report next month with recommendations for halting enforcement of state laws the administration says are hampering energy resources presents risks for lenders and borrowers using state-generated carbon credits, but proactive steps now can help insulate against adverse consequences, say attorneys at Faegre Drinker.

  • Series

    Power To The Paralegals: An Untapped Source For Biz Roles

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    Law firms looking to recruit legal business talent should consider turning to paralegals, who practice several key skills every day that prepare them to thrive in marketing and client development roles, says Vanessa Torres at Lowenstein Sandler.

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