Banking

  • October 30, 2026

    Binance's $6.3B Crypto Hack Puts Customer Trust To The Test

    The record $6.3 billion hack of Binance is likely to test customers' faith in the cryptocurrency giant, with its ability to repay losses and willingness to take steps to strengthen its cyber defenses poised to shape whether investors stick with the platform.

  • October 30, 2026

    Custodia Urges High Court To Curb Fed 'Tyranny'

    Custodia Bank again urged the U.S. Supreme Court to review a Tenth Circuit ruling allowing regional Federal Reserve banks to deny eligible banks master accounts, saying only the high court can "put an end to the Fed's tyranny over financial innovation."

  • October 30, 2026

    Ex-Wells Fargo Director Seeks $1M Fee Award After Appeal

    A former Wells Fargo director and an attorney who represented him in his $22 million Americans with Disabilities Act suit against the bank are making a second attempt to collect attorney fees, pushing a North Carolina federal judge for over $1 million.

  • October 30, 2026

    The SEC Is Reading Your Corporate AI Disclosures

    The top cop at the U.S. Securities and Exchange Commission says agency attorneys are on the lookout for at least two types of artificial intelligence-related fraud: those that use AI to dupe social media users and those committed by companies that fail to properly disclose their use of the new technology.

  • October 30, 2026

    K&L Gates DQ'd In Trust's Mortgage Loan Agreement Dispute

    A Washington federal judge disqualified K&L Gates LLP from a trust's dispute over a residential mortgage loan sale agreement, ruling that the law firm must leave the suit because it drafted the form agreement used in the transaction.

  • October 30, 2026

    Davis Polk-Led Fintech Startup OPay Prices $304M IPO

    Nigerian digital bank and financial technology startup OPay began trading publicly in the U.S. on Friday after it raised $304 million in its initial public offering steered by Davis Polk & Wardwell LLP and Simpson Thacher & Bartlett LLP.

  • October 30, 2026

    Hedge Fund Exec Fights $40M In IRS Foreign Reporting Fines

    A hedge fund manager is seeking to recover nearly $40 million in foreign account reporting penalties, telling the U.S. Court of Federal Claims that the IRS violated his due process rights and administrative rules in imposing fines linked to his bankrupt Texas tycoon father's international accounts.

  • October 30, 2026

    Ga. Developer Fights Coverage Denial For Fraud Loss

    A developer told a Georgia federal court that a Chubb unit wrongly denied coverage for losses stemming from a third party's accessing of a client's payment portal to direct payments away from the developer.

  • October 30, 2026

    Trenam Law Beats Bank's DQ Bid In Trade Secrets Suit

    Trenam Law has defeated a bid in Florida federal court from Climate First Bank and other defendants to disqualify the firm from representing a financial technology platform in a trade secrets suit on the grounds that the firm previously represented the bank and had access to its confidential information.

  • October 30, 2026

    Taxation With Representation: Kirkland, Gibson Dunn, Cravath

    In this week's Taxation with Representation, Blackstone, Bank of America, Citi and Morgan Stanley announce a financing structure to buy Broadcom artificial intelligence chips and network components for Anthropic, EQT acquires Range Resources to create a powerhouse natural gas company, and DoorDash buys Instacart.

  • October 29, 2026

    Binance Says It's Not Liable For Alleged Crypto Laundering

    Binance has asked a Florida federal judge to dismiss a consolidated suit accusing it of failing to prevent stolen funds from being moved through its platform, saying that even if it identified the suspicious transactions and reported them, that wouldn't have stopped criminals from stealing the crypto.

  • October 29, 2026

    Fugitive Former Conn. Official Must Pay Capital One $25K

    A onetime Connecticut budget official who fled to Greece as sentencing neared in one federal public corruption case and a trial loomed in another must pay more than $25,000 to cover the balance of a Capital One personal loan, a state judge has ruled.

  • October 29, 2026

    Warren Calls For BofA Criminal Probe After $1.2B AML Fine

    Massachusetts Sen. Elizabeth Warren, the ranking Democrat on the Senate Committee on Banking, Housing, and Urban Affairs, called for a federal criminal probe Thursday into Bank of America after the U.S. Treasury Department fined the institution $1.2 billion this month over alleged anti-money laundering failures.

  • October 29, 2026

    Block Investors Win Cert. In Biz Growth, Compliance Suit

    A California federal judge has certified a narrowed class of investors in Block Inc., the parent company of Square and Cash App, in a suit alleging the company failed to maintain a "strong compliance infrastructure" and misled investors about the growth of Cash App, leading to an 84% stock price decline once the truth came to light.

  • October 29, 2026

    McCarter Can Keep ABA Report Quotes In Loan Suit Brief

    A Connecticut state judge will not order McCarter & English LLP to file a new post-trial reply brief in a $21.3 million malpractice case over collapsed loan transactions, despite two insurers' arguments that the firm improperly quoted a treatise that was never admitted into evidence.

  • October 29, 2026

    CFPB Faces 2nd Suit Over Bid To 'Erase' Fair Lending Rules

    One of the nation's oldest civil rights groups has sued to overturn the Consumer Financial Protection Bureau's recent rollback of longstanding federal protections against lending discrimination, widening the ongoing legal battle against the controversial rule change.

  • October 29, 2026

    Homebuyers Defend Third Zillow Suit Over Loan Kickbacks

    A group of homebuyers urged a Washington federal judge to uphold a third amended complaint alleging Zillow paid kickbacks to brokers who steered homebuyers to use the company's mortgage services, driving up the cost of home loans and purchases overall.

  • October 28, 2026

    PayPal's Financial Offerings Are Under Fresh FTC Scrutiny

    PayPal has disclosed that it is facing a Federal Trade Commission investigation into its financial products and services, including marketing, fees and purchase protections.

  • October 28, 2026

    CFPB Audit Flags Cybersecurity Gaps Amid Staff Departures

    The Consumer Financial Protection Bureau has failed to promptly fix serious cyber weaknesses and consistently track data in its possession as staffing losses have hampered the agency's ability to safeguard its systems, according to a federal watchdog audit released Wednesday.

  • October 28, 2026

    Cannabis Event Founders Accused Of $750K Fraud

    A Los Angeles attorney and his business partner are accused in a California state lawsuit of diverting investor money to pay for private jet flights, bar dues and other personal expenses instead of funding business-to-consumer cannabis trade shows, including the failed 2022 Green Street Festival.

  • October 28, 2026

    9th Circ. Open To Decertifying BofA COVID Fee-Relief Class

    A Ninth Circuit panel appeared open Wednesday to decertifying a class of Bank of America account holders who allege the bank abruptly ended a COVID-19 fee-relief program without notice, with all three judges criticizing the class definition for being overly broad, and two judges suggesting individualized issues predominate.

  • October 28, 2026

    Firm Can't Depose Opponent's Outside Counsel In TM Feud

    A North Carolina law firm has lost its bid to depose outside counsel for a personal injury firm in a trademark fight over branding, with a federal magistrate judge finding there is a possibility privileged information could come up.

  • October 28, 2026

    SEC Rejects Rengan Rajaratnam's Bid To End Adviser Ban

    The U.S. Securities and Exchange Commission has declined to lift a more-than-decade-old industry ban on the younger brother of convicted insider trader Raj Rajaratnam, rejecting his argument that the restriction has hampered his ability to find work in finance.

  • October 28, 2026

    Robinhood Agrees To Pause Sports Event Contracts In Ohio

    Robinhood Markets Inc. on Wednesday said it struck an agreement with Ohio's gaming commission to stop offering new sports-related event contracts in the Buckeye State in exchange for an enforcement reprieve while litigation over the contracts' legality plays out in federal courts.

  • October 28, 2026

    Judge Sides With Feds In Pair's $1.6M Tax Penalty Dispute

    A formerly married couple are not entitled to claim a refund of roughly $1.6 million for tax penalties related to a foreign trust, a Pennsylvania federal magistrate judge ruled, finding the court lacks jurisdiction because they failed to demonstrate they properly filed a refund claim.

Expert Analysis

  • Calif. Decision Shows Limits Of Self-Serving Testimony

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    A California appellate court's recent opinion in a dispute between two home renovation partners is a reminder that where there are admissions or undisputed documentary evidence, litigants need more than self-serving testimony to overcome summary judgment, says Tyler Palmer at Tucker Ellis.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q3

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    California's financial regulators spent the third quarter of 2026 focusing on consumer protection enforcement at home while resisting federal efforts to displace state oversight — reinforcing the state's intention to shape the compliance landscape for institutions operating within its borders despite federal deregulatory trends, say attorneys at Ropes & Gray.

  • 8th Circ. Ruling Limits Receiver Insurance Recovery Rights

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    The Eighth Circuit's recent ruling in King v. Texas Insurance illustrates a practical limit on receivership powers: A receiver may marshal insurance proceeds belonging to the estate but cannot expand the insured's contractual rights or make policy proceeds collectible unless the coverage triggers are satisfied, say attorneys at Kutak Rock.

  • Series

    Mentalism Makes Me A Better Lawyer

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    Convincing strangers I can read their minds may seem like an unusual second career for a legal practitioner, but both disciplines share several important requirements, including trust and preparation, says Warren Biro at Manatt.

  • Why And How To Build A Neurodiversity-Informed Practice

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    By better understanding neurodiversity and implementing simple accommodations for clients with autism, ADHD or learning differences, attorneys can build stronger relationships with those who may otherwise struggle to obtain and benefit from legal services, while developing good habits that will benefit everyone they represent, says Ting Cheung at Sanford Heisler.

  • Series

    Illinois Banking Brief: All The Notable Legal Updates In Q3

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    Recent banking developments in Illinois include significant new consumer protection legislation, three meaningful Seventh Circuit decisions, and a high-profile constitutional challenge to the state's new digital asset tax, say attorneys at Barnes & Thornburg.

  • Foreclosure May Not Be The Fix For Distressed Office Loans

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    Recently declining office values show that distressed borrowers and lenders should consider negotiated workouts, tax planning and value-preserving leasing strategies as refinancing gaps and special-servicing constraints make foreclosure an increasingly costly last resort, says Howard Koh at Meister Seelig.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q3

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    Several developments from New York financial services regulators in the third quarter reflect a common theme — regulators are increasingly seeking to apply established supervisory expectations to newer market participants and emerging financial products, say attorneys at Blank Rome.

  • Why Importers Should Assess IEEPA Refund Claims Now

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    Businesses that wait for direction from U.S. Customs and Border Protection or the courts before seeking refunds of their finally liquidated International Economic Emergency Procedure Act duties in court may find them out of reach as the earliest potential limitation deadlines are approaching, says Samuel Finkelstein at LMD Trade Law.

  • 3 Illinois Updates That Bolster Mortgage Lender Enforcement

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    Illinois lenders can use clarifications from recent legislative and judicial developments — a law defining the limitations period for home equity loans and two rulings on quiet title actions and lien expirations during foreclosures — to sharpen their enforcement tools and better protect their mortgage rights, says Stephanie Mulcahy at Hinshaw.

  • Series

    Mich. Banking Brief: All The Notable Legal Updates In Q3

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    We are at an inflection point for Michigan financial services law, with a state Supreme Court decision recently overruling more than 25 years of precedent on the Michigan Consumer Protection Act, and pending legislation that could significantly shift the regulatory landscape, say attorneys and advisers at Dykema.

  • FinCEN Exemption Raises Statutory, Administrative Questions

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    The Financial Crimes Enforcement Network's recently rolled-out broad exemption for U.S. companies from Corporate Transparency Act reporting may face administrative law and statutory challenges, so businesses should still preserve ownership records and monitor litigation and congressional action, says David McCarville at Fennemore.

  • Testing AI's Promise For Large-Scale Document Review

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    Our document-review comparison of attorneys' responsiveness and issue coding decisions versus predictions generated by artificial intelligence across 1,600 documents suggests that these tools can offer a reasonable and reliable basis for improved discovery workflows, provided lawyers understand where guardrails are needed, say attorneys at Redgrave.

  • FDIC Standards Body Could Ease Bank Vendor Due Diligence

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    The Federal Deposit Insurance Corp.'s recently proposed standards body for bank vendors could streamline due diligence and onboarding, but banks and their third-party service providers alike should still monitor open questions around oversight, certification costs and governance, say attorneys at Clark Hill.

  • AI Meeting Recaps Pose New Discovery And Privilege Risks

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    The New York City Bar Association’s recent ethics opinion, cautioning attorneys not to record nonclient conversations with artificial intelligence tools, reflects an emerging view that AI meeting recaps are now a distinct business record category, meaning counsel should set meeting-level controls and apply framework-level updates, says William Wright at Faegre Drinker.

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