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									September 25, 2025
									DC Circ. Backs Whistleblower In IRS Award DisputeA whistleblower who received millions of dollars in awards for helping the IRS nab prominent Wall Street firms that helped offshore hedge funds evade taxes was wrongly blocked from receiving millions more, the D.C. Circuit ruled. 
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									September 25, 2025
									Flagstar Seeks Instant Win In Ex-Live Well VP Fraud CaseFlagstar Bank has urged a Michigan federal judge to grant it an early win against a former executive of the now-bankrupt Live Well for his role in a scheme to defraud lenders by inflating the value of bonds, saying because the executive already pled guilty to securities fraud, he cannot now deny liability in the bank's civil case. 
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									September 25, 2025
									First Merchants, First Savings Merge In $241M All-Stock DealDentons-advised First Merchants Corp. and First Savings Financial Group Inc., led by Luse Gorman PC, on Thursday unveiled plans to merge in an all-stock deal valued at roughly $241 million. 
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									September 25, 2025
									3rd Circ. Won't Revive Debt Collection Suit Against NJ FirmThe Third Circuit rejected a bid Thursday from a woman suing Cohn Lifland Pearlman Herrmann & Knopf LLP to revive her proposed class action over allegedly unfair debt collection practices after a federal trial court ruled that she filed her suit too late. 
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									September 25, 2025
									Fed. Circ. Revives Apex Bank's TM Bid Over TTAB ErrorThe Trademark Trial and Appeal Board incorrectly prevented a Tennessee bank from registering "Aspire Bank" for banking and financial services because of potential confusion with a credit card company's existing "Aspire" mark, the Federal Circuit said in a precedential decision Thursday that remanded the case for further analysis. 
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									September 24, 2025
									Robocall Recipients Get Class Cert. Against Ill. BankConsumers who allegedly received unwanted robocalls from Illinois-based Federal Savings Bank will secure certification of a nationwide class of nearly 2.3 million consumers in a proposed Telephone Consumer Protection Act class action, an Illinois federal judge has decided. 
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									September 24, 2025
									SEC Gets $7M Default Insider Trading Win Against UK TraderA Manhattan federal judge on Wednesday ordered a British-Lebanese trader to pay over $7.7 million, stemming from the U.S. Securities and Exchange Commission's insider trading allegations, months after the defendant avoided extradition from the U.K. on parallel criminal charges. 
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									September 24, 2025
									Texas Banker Says Co.'s $30M Fraud Suit Must Be ArbitratedA South African company's lawsuit accusing a Texas family, a wealth manager and Frost Bank of orchestrating a $30 million embezzlement and money laundering scheme belongs in arbitration, the defendants have told a Fort Worth federal judge. 
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									September 24, 2025
									FINRA To Nix Minimum Equity Requirement For Day TradersThe Financial Industry Regulatory Authority announced Wednesday that its board approved changes to its rules for so-called pattern day trading that would remove a minimum equity requirement for such traders. 
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									September 24, 2025
									Comcast Loses Challenge To Labor Dept. ALJs' AuthorityComcast Corp. can't force a pair of former executives and the U.S. Department of Labor to sue in federal court, after a Virginia federal judge found that handing a Sarbanes-Oxley whistleblower case to an administrative law judge did not violate the company's Seventh Amendment rights. 
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									September 24, 2025
									Execs Breached Danish Deal In $2B Tax Case, Court SaysThree men claiming to be pension plan executives who struck a civil settlement with the Danish taxing authority over their role in a $2 billion tax fraud scheme breached their settlement agreement, a New York federal court found, saying the men had not paid back the amount they promised. 
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									September 24, 2025
									Bank Says It's Being Blocked From Settlement Fund MarketFlatirons Bank has sued Eastern Point Trust Co. in Wyoming federal court for allegedly blocking competition in the market for qualified settlement fund services by threatening baseless litigation and falsely claiming that Flatirons' platform copies its own offering. 
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									September 24, 2025
									AGs Slam Capital One's $425M Deal As Unfair To ConsumersNew York Attorney General Letitia James and 17 other attorneys general are opposing a proposed $425 million settlement between Capital One and a putative consumer class alleging the bank deceptively advertised its 360 Savings accounts, telling a Virginia federal court the deal "fails to adequately redress" the harms caused by the scheme. 
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									September 24, 2025
									Merrill Lynch Accuses Ex-Staff, Schwab, Investor Of IP TheftMerrill Lynch has filed a trade secrets lawsuit against a dozen former employees, Charles Schwab and Dynasty Financial Partners, alleging the defendants conspired to start a new independent financial advisory firm with Merrill's staff and confidential information. 
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									September 24, 2025
									Loeb & Loeb, Kirkland Guide SPAC Lafayette's $250M IPOGuided by Loeb & Loeb LLP and underwriters' counsel Kirkland & Ellis LLP, special purpose acquisition company Lafayette Digital Acquisition I filed Tuesday for a $250 million initial public offering with the U.S. Securities and Exchange Commission with hopes to acquire blockchain- or fintech-related merger targets. 
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									September 24, 2025
									Grid Operator TenneT Selling $11.2B Stake To InstitutionsTenneT Holding said Wednesday it has agreed to sell a 46% stake in its German transmission business, TenneT Germany, to three institutional investors, raising up to €9.5 billion ($11.2 billion) in new equity to fund the expansion of the country's high-voltage grid. 
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									September 24, 2025
									Ex-Bank Compliance Execs' Whistleblower Suit TossedA New York federal judge has dismissed whistleblower and discrimination claims brought by former Shinhan Bank America compliance executives against the bank, finding that they failed to follow the required administrative steps before filing suit and haven't demonstrated that the bank was aware of their allegedly whistleblower-protected activity, among other things. 
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									September 24, 2025
									PNC Failed To Protect 740K Users' Data In Breach, Suit ClaimsA proposed class action filed in Pennsylvania federal court Tuesday claims PNC Financial Services suffered a data breach affecting 740,000 customers and should be held liable for not protecting their personal information. 
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									September 24, 2025
									Pa. Man Gets 4 Years In Prison For $72M FraudA Pennsylvania man has been sentenced to four years behind bars for scamming two lenders out of $72 million that he said would go toward buying insurance companies, according to the U.S. attorney's office in Philadelphia. 
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									September 24, 2025
									Lender Must Face Class Claims It Ignored 'Do Not Call' AsksA mortgage lender must face class allegations that it called people without their consent to market its loan products and continued to call people who asked it to stop, a Michigan federal judge has ruled, rejecting the lender's arguments that the proposed class is too vague. 
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									September 23, 2025
									Experian Beats Credit Investigation Suit, For NowExperian beat a proposed class action alleging it failed to timely reinvestigate disputed information in a plaintiff's file that kept him from securing a property mortgage loan, a North Carolina federal judge said Tuesday, finding that the plaintiff lacked standing and couldn't fairly trace his injury to the delay in reinvestigation. 
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									September 23, 2025
									Banks Urge SEC To Hold Crypto Custody To Same StandardsFinancial services trade groups have cautioned the U.S. Securities and Exchange Commission against broadly permitting investment advisers and state-chartered trust companies to safeguard customer's cryptocurrency assets, urging the agency to maintain equal standards for all financial custodians amid planned crypto rulemaking. 
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									September 23, 2025
									CFTC Seeks Feedback On The Use Of Crypto CollateralThe U.S. Commodity Futures Trading Commission launched an initiative on Tuesday to enable the use of certain crypto assets as collateral in derivatives markets, soliciting industry suggestions on potential pilot programs, amendments to regulations and relevant issues. 
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									September 23, 2025
									Ex-Discover Financial Exec Can Pursue Equity Clawback SuitAn Illinois federal judge has rejected a bid to toss a retired Discover Financial Services executive's age and gender discrimination lawsuit, finding she has sufficiently alleged at this point that she faced disparate treatment tied to her sex and that Discover's arguments against her age discrimination claim don't hold weight. 
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									September 23, 2025
									Hedge Funds Call For CFTC To End Dual RegistrationA group representing the hedge fund industry is calling on the U.S. Commodity Futures Trading Commission to drop the need for industry participants to submit to agency oversight in cases where fund managers are already registered with the U.S. Securities and Exchange Commission, calling the dual registration requirement "costly" and "inefficient." 
Expert Analysis
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								Feds' Shift On Reputational Risk Raises Questions For Banks  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. 
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								Series Playing Mah-Jongg Makes Me A Better Mediator  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. 
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								Business Court Bill Furthers Texas' Pro-Corporate Strategy  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. 
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								2 NY Cases May Clarify Foreclosure Law Retroactivity  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. 
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								Series Law School's Missed Lessons: Navigating Client Trauma.jpg)  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. 
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								What To Expect As UK, US Gov'ts Develop Stablecoin Policies  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. 
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								Series Texas Banking Brief: All The Notable Legal Updates In Q2  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. 
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								Yacht Broker Case Highlights Industry Groups' Antitrust Risk  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. 
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								Opinion 4 Former Justices Would Likely Frown On Litigation Funding  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. 
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								Congress Crypto Movement Could Bring CFTC 'Clarity' At Last  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. 
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								Stablecoin Bills Present Opportunities, Challenges For Banks  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. 
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								How Attys Can Use AI To Surface Narratives In E-Discovery  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. 
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								Opinion GENIUS Act Could Muck Up Insolvency Proceedings  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. 
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								Series Calif. Banking Brief: All The Notable Legal Updates In Q2  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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								Series Georgia Banking Brief: All The Notable Legal Updates In Q2  The second quarter brought a number of significant legislative and regulatory changes for Georgia banking, including an extension of the intangibles tax exemption for short-term notes, modernization of routine regulatory practices, and new guardrails against mortgage trigger leads, says Walter Jones at Balch & Bingham.