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Banking

February 10, 2026
Ill. Tax, Tip Swipe Fee Ban Survives Banks' Challenge

An Illinois federal judge Tuesday cleared most of a landmark Illinois law banning swipe fees on tax and tip payments to take effect this summer, dealing a major blow to banking industry groups that sought to block the law altogether.
February 10, 2026
5th Circ. Says Bank Worker's ERISA Claims Can Be Arbitrated

The Fifth Circuit on Tuesday held that a former employee at a Texas-based bank must arbitrate his proposed class claims accusing the bank of failing to invest retirement funds, reversing a lower court's finding that the arbitration clause didn't apply to him because it was added after his employment ended.
February 10, 2026
7th Circ. Mulls Outcome Health Execs' $1B Fraud Convictions

Seventh Circuit judges hearing former Outcome Health executives' challenge to a $1 billion fraud conviction seemed critical of the U.S. government's handling of the case on Tuesday as they questioned why its admitted asset over-restraint and introduction of certain grand jury statements should not require reversal.
February 10, 2026
Colony Ridge To Pay $68M To End DOJ, Texas Lending Case

Houston-area developer Colony Ridge will pay $68 million to settle with the U.S. government and state of Texas over claims that it targeted Hispanic consumers with predatory land sales and financing, the U.S. Department of Justice said Tuesday.
February 10, 2026
Swipe-Fee Class Wants Personal Injury Firm Sanctioned

A class of merchants in a lengthy antitrust litigation against Visa and Mastercard is seeking sanctions against a personal injury firm and one of its referral partners, arguing the third-party entities have repeatedly misled would-be class members about the case's settlement and how much recovery they might receive.
February 10, 2026
BlackRock Brass Face Derivative Suit Over Coal Investments

Several officers and directors of BlackRock have been hit with a shareholder's derivative suit accusing them of damaging the asset manager's reputation by participating in a scheme to drive up coal prices, an issue at the center of an antitrust suit brought by a coalition of Republican-led states.
February 10, 2026
HSBC Ignored $8M Pig Butchering Scam Warnings, Suit Says

A retired anesthesiologist and his sons have sued HSBC's U.S. arm, accusing it of ignoring warning signs and allowing scammers to siphon more than $8 million from the elderly retiree's accounts through an international "romance pig butchering" fraud.
February 10, 2026
Financial Services Forum Taps Ex-Truist Exec For GC

Banking industry group Financial Services Forum has hired a general counsel who most recently was a senior Truist Financial Corp. lawyer and who previously worked at the Federal Reserve Board of Governors as senior counsel in its legal division.
February 10, 2026
Biz Says Bank Unit Wrongfully Put It On High-Risk List

A family-owned cutlery seller told a Georgia federal court Tuesday that a U.S. Bank payment processing subsidiary wrongfully placed it on a list that flags businesses for suspicion of high-risk behavior and terminated its payment processing services without justification.
February 10, 2026
Feds Argue Russian Billionaire Lacks Yacht Ownership

The U.S. Department of Justice urged the Second Circuit to affirm a district court decision that authorized the United States to sell a Russian billionaire's seized superyacht, arguing he can't suffer the loss of something he barely owns.
February 10, 2026
'Pig Butchering' Fugitive Gets 20 Years For $73M Crypto Scam

A dual citizen of China and Saint Kitts and Nevis was sentenced in absentia to 20 years in prison and three years supervised release for his role in an international money laundering scheme that laundered over $73 million worth of criminal proceeds obtained through so-called "pig butchering" cryptocurrency investment scams.
February 10, 2026
Wash. Judge Won't Block Racial Equity Housing Program

A nonprofit aimed at "overcoming identity politics" cannot preliminarily block a Washington state housing program designed to reduce racial disparities in homeownership, a Seattle federal judge ruled, saying the group has not shown it is likely to succeed on its claim that the program is unconstitutional.
February 10, 2026
Chinese Bank Targets Expat Over $209M Awards

A Chinese bank is urging a California federal court to impose an asset freeze on a businessman who has ignored some $209 million in arbitral awards after his company defaulted on loans aimed at funding an urban renewal project in southeastern China.
February 10, 2026
Paul Hastings Lands 8 More Attys For New Charlotte Office

A second group of fund finance lawyers has joined Paul Hastings LLP's new Charlotte, North Carolina, office from Cadwalader Wickersham & Taft LLP, Haynes Boone and Mayer Brown LLP.
February 10, 2026
Presidio Seeks $1B Debt To Fund Deals After SPAC Merger

Oil and gas operator Presidio Investment Holdings on Tuesday revealed that it is working with banking giant Goldman Sachs on a debt facility worth up to $1 billion to be administered once it completes its merger with special purpose acquisition company EQV Ventures Acquisition Corp. and becomes a public company.
February 10, 2026
Banking Group Of The Year: Orrick

Orrick Herrington & Sutcliffe LLP's attorneys secured billions of dollars' worth of victories for major financial institutions over the past year, including a more than $282 million judgment tied to a collapsed fintech company and decisive appellate and trial wins in liability management and IPO litigation, earning it a place among the 2025 Law360 Banking Groups of the Year.
February 10, 2026
Title Insurer Gets Lender's Fraudulent Loan Suit Trimmed

A North Carolina federal court trimmed a mortgage lender's suit seeking to recoup $540,000 from a title insurer for a loan that a borrower claimed was fraudulent, saying the insurer had no duty to indemnify the lender because the loss fell within an exclusion for third-party fraud.
February 10, 2026
DOJ Drops Bid For Offshore Asset Freeze In $28M Tax Suit

The U.S. Department of Justice and a family of overseas-trust beneficiaries struck a partial deal in a $28 million tax suit in Florida federal court, with the DOJ dropping its push to freeze the family's assets and the family agreeing to temporarily limit their account withdrawals.
February 10, 2026
AI Docs Sent By Exec To Attys Not Privileged, Judge Says

A Manhattan federal judge said Tuesday that a Texas financial services executive accused of a $150 million fraud cannot claim privilege over documents that he prepared using an artificial intelligence service and sent to his attorneys — but suggested the materials could be problematic if used at trial.
February 09, 2026
Ex-Morgan Stanley Pro Scorns Key NBA Witness In Fraud Trial

Counsel for an ex-Morgan Stanley investment adviser accused of defrauding pro athletes out of millions of dollars leaned hard on former NBA player Chandler Parsons in cross-examination after he testified against his onetime friend and go-to money man as the defense sought to discredit one of the government's key witnesses.
February 09, 2026
Sentencing Commission's Reform Ideas May Cut Prison Time

Proposed new amendments to the federal sentencing guidelines could lead to shorter prison terms for many offenders, including by revising loss calculations for financial crimes and providing a first-of-its-kind path to reward defendants for post-offense, pre-sentence rehabilitative efforts.
February 09, 2026
Meta Allows Pump-And-Dump Scam Ads, New Suit Says

A new proposed class action in California federal court alleges Meta Platforms Inc. knowingly allowed pump-and-dump scammers to advertise on its platform and to promote and falsely inflate the prices of certain stocks before selling their shares, gaining millions of dollars from Meta users.
February 09, 2026
4th Circ. Reopens Class Action Door In Navy Federal Bias Suit

A panel of the Fourth Circuit said Monday that a federal district judge moved too quickly in foreclosing class action status in a lawsuit accusing Navy Federal Credit Union of mortgage lending discrimination, ruling that class allegations should not have been altogether struck down before discovery.
February 09, 2026
Fifth Third Aided Ex-Mayor's $1.8M Theft, Ill. Village Claims

Fifth Third Bank knew a former mayor of a Chicago suburb was misappropriating municipal funds but "deliberately refrained" from investigating the misconduct and ultimately helped her misappropriate $1.89 million, according to a lawsuit filed Friday in state court.
February 09, 2026
9th Circ. Backs Comerica's Escape From Investor Suit

The Ninth Circuit backed Comerica's win in an investor dispute led by a pension fund accusing the bank of misleading investors about its oversight of a U.S. Department of the Treasury contract, concluding a California federal judge was right to permanently toss the case for failure to state a claim.

Expert Analysis

Changes In Crypto, Cybersecurity Defined NY Banking In 2025

The major takeaways from 2025 in New York banking policy involve updated guidance, regulations and requirements primarily affecting innovation and digital banking, in areas such as cybersecurity, virtual currencies, and buy now, pay later programs, say attorneys at Steptoe.
Del. Dispatch: Key 2025 Corporate Cases And Trends To Know

The Delaware corporate legal landscape saw notable changes in 2025, spurred by amendments to the Delaware General Corporation Law, ubiquitous artificial intelligence fervor, boardroom discussion around DExit, record shareholder activism activity and an arguably more expansive view of potential Caremark liability, say attorneys at Fried Frank.
Series

Nature Photography Makes Me A Better Lawyer

Nature photography reminds me to focus on what is in front of me and to slow down to achieve success, and, in embracing the value of viewing situations through different lenses, offers skills transferable to the practice of law, says Brian Willett at Saul Ewing.
2025 Brought A New Paradigm For Federal Banking Regulation

A series of thematic shifts defined banking regulation in 2025, including a fundamental reform of prudential supervision, a strategic easing of capital constraints, steps to streamline merger reviews, and a new framework for fair access and entrants seeking to offer banking services, say attorneys at Simpson Thacher.
Series

Law School's Missed Lessons: Practical Problem Solving

Issue-spotting skills are well honed in law school, but practicing attorneys must also identify clients’ problems and true goals, and then be able to provide solutions, says Mary Kate Hogan at Quarles & Brady.
Crypto In 2025: From Federal Deregulation To State Action

The cryptocurrency enforcement landscape evolved in 2025, marked by federal deregulatory trends and active state attorney general enforcement, creating both opportunity and risk for businesses navigating the digital asset market, say attorneys at Cozen O'Connor.
Opinion

A Uniform Federal Rule Would Curb Gen AI Missteps In Court

To address the patchwork of courts’ standing orders on generative artificial intelligence, curbing abuses and relieving the burden on judges, the federal judiciary should consider amending its civil procedure rules to require litigants to certify they’ve reviewed legal filings for accuracy, say attorneys at Shook Hardy.
Investment Advisers Should Stay Apprised Of New AI Risks

The U.S. Securities and Exchange Commission's recently issued annual examination priorities reiterate a host of regulatory implications for investment advisers using artificial intelligence tools, highlighting that meaningful ongoing due diligence can help mitigate both operational and regulatory surprises amid AI's rapid evolution, says Christopher Mills at Sidley.
AG Watch: Texas Junk Fee Deal Shows Enforcement Priorities

Texas Attorney General Ken Paxton's recent $9.5 million settlement with online travel agency website Booking Holdings for so-called junk fee practices follows a larger trend of state attorneys general who have taken similar action and demonstrates the significant penalties that can follow such allegations, say attorneys at Kelley Drye.
10th Circ. Dissent May Light Path For Master Account Access

While the Tenth Circuit's majority in Custodia Bank v. Federal Reserve Board recently affirmed Federal Reserve banks' control over master account access, the dissent raised constitutional questions that could support banks seeking master accounts in future litigation, say attorneys at Paul Hastings.
Series

The Law Firm Merger Diaries: Integrating Practice Groups

Enacting unified leadership and consistent client service standards ensures law firm practice groups connect and collaborate around shared goals, turning a law firm merger into a platform for growth rather than a period of disruption, says Brian Catlett at Fennemore Craig.
Receivership Law May Streamline Real Estate Sales In Illinois

The Illinois Receivership Act, which goes into effect Jan. 1, provides much-needed clarity on the issue of receivers' sales of commercial real estate and will make the process easier for parties including receivers, special servicers and commercial real estate lenders, say attorneys at Troutman.
Opinion

Supreme Court Term Limits Would Carry Hidden Risk

While proposals for limiting the terms of U.S. Supreme Court justices are popular, a steady stream of relatively young, highly marketable ex-justices with unique knowledge and influence entering the marketplace of law and politics could create new problems, say Michael Broyde at Emory University and Hayden Hall at the U.S. Bankruptcy Court for the District of Delaware.
The SEC Whistleblower Program A Year Into 2nd Trump Admin

The U.S. Securities and Exchange Commission's whistleblower program continues to operate as designed, but its internal cadence, scrutiny of claims and operational structure reflect a period of recalibration, with precision mattering more than ever, say attorneys Scott Silver and David Chase.
Key Crypto Class Action Trends And Rulings In 2025

As the law continued to take shape in the growing area of crypto-assets, this year saw a jump in crypto class action litigation, including noteworthy decisions on motions to compel arbitration and class certification, according to Justin Donoho at Duane Morris.