Banking

  • May 05, 2026

    Banks Say Stablecoin Yield Fix For Crypto Bill 'Falls Short'

    Five banking groups say proposed language governing interest and rewards payments on stablecoins, intended to advance a bill to regulate crypto markets, "falls short," while the lawmakers behind the proposal say they've worked directly with banks for months to "encourage compromise." 

  • May 05, 2026

    3 Firms Steer Crypto Exchange Bullish's $4.2B Equiniti Buy

    Bullish said Tuesday it has agreed to acquire Equiniti in a $4.2 billion transaction steered by three law firms, as the institutional digital asset platform aims to create a global transfer agent for tokenized securities.

  • May 05, 2026

    SVB's $73M Fraud Losses Not Covered, Insurers Say

    Two insurers said they owe no coverage for a fraudulent scheme that caused the failed Silicon Valley Bank to lose $73 million, telling a North Carolina federal court that the bank has not satisfied all requirements under its financial institution bonds' extended forgery coverage provision.

  • May 05, 2026

    Deutsche, Pathward Want Fintech Blacklist Suit Tossed

    Deutsche Bank AG and Pathward NA urged a New York federal court to dismiss a suit accusing them of improperly blacklisting a barter-based payment platform that the banks found was "transaction laundering" for companies selling gray-market pharmaceuticals, arguing that the suit's jurisdiction assertions are fatal to the claims.

  • May 05, 2026

    DOJ Asks To Toss Subpoena Defeats In Powell Case As Moot

    The U.S. Department of Justice has asked a Washington, D.C., federal judge to vacate his decisions that blocked subpoenas from its now-closed criminal investigation into Federal Reserve Chair Jerome Powell, arguing that the slate should be wiped clean on mootness grounds.

  • May 05, 2026

    Freshfields Adds Skadden White Collar Lawyer In DC, NY

    Freshfields LLP has hired a Skadden Arps Slate Meagher & Flom LLP white collar defense lawyer, who spent years working as a federal prosecutor investigating corporate financial crime, international money laundering and other related matters.

  • May 04, 2026

    Ukraine Bank Targets Russia In New $1.1B Suit

    Ukrainian state-owned Oschadbank has opened a new front as it looks to enforce a nearly 8-year-old, $1.1 billion arbitral award against Russia over the seizure of its Crimean assets, filing a complaint in New York federal court on Friday seeking to enforce a French judgment recognizing the award.

  • May 04, 2026

    Hedge Fund Says Expert Loss Isn't Fatal To Spoofing Case

    A hedge fund that is suing units of Bank of America and Canadian Imperial Bank of Commerce for alleged spoofing by their clients has told a New York federal court that a recent decision to exclude the hedge fund's damages expert doesn't doom its case, pushing back on a bid from the banks for an end to the litigation.

  • May 04, 2026

    OCC Pushes Back On Ex-Rabobank Officer's $4M Fee Bid

    The Office of the Comptroller of the Currency has told the Ninth Circuit a former Rabobank compliance officer is not entitled to $4 million in attorney fees and expenses over costs purportedly incurred during an abandoned enforcement proceeding, arguing the record "raises serious questions as to whether the request is excessive."

  • May 04, 2026

    Gas Stations Bound To Visa Swipe Fee Deal, 2nd Circ. Says

    A Second Circuit panel refused Monday to let a group of gas stations separately sue Visa and Mastercard over their swipe fees, holding the would-be plaintiffs cannot get out of a $5.6 billion antitrust settlement the credit card giants inked with merchants.

  • May 04, 2026

    Wells Fargo, Lloyd's Beat $900B Fraud Suit Over Wire Error

    A Maryland federal judge has permanently tossed a lawsuit brought by Alliance Global Capital Fund and a cheese shop that sought $900 billion in damages alleging Wells Fargo refused to redirect funds it knew were credited to the wrong account, finding a majority of the case's claims were brought too late.

  • May 04, 2026

    Fintech Cos., States Split On Scope Of Prediction Market Regs

    Fintech platforms have told the U.S. Commodity Futures Trading Commission that few events should be off-limits for trading as the agency crafts rules for prediction markets, while tribes, consumer groups and states are calling on the agency to ban sports markets altogether as off-label gambling.

  • May 04, 2026

    Trump Broadens Sanctions On Cuban Government

    President Donald Trump has expanded his sanctions regime against Cuba, issuing an executive order targeting Cuban government officials while also implementing second-order sanctions against financial institutions that carry out transactions with sanctioned individuals.

  • May 04, 2026

    Trump-Backed Firm Says Crypto Exec Ran Smear Campaign

    Trump family-tied crypto firm World Liberty Financial LLC hit back at crypto billionaire Justin Sun with a defamation suit Monday, claiming he bet against a token he publicly hyped as part of an alleged short-and-distort scheme.

  • May 04, 2026

    Wells Fargo, Law Firm Sued Over Alleged Ponzi Scheme Ties

    Wells Fargo, a California law group and an Arizona investment advisory firm have been hit with a suit in a Texas federal court alleging they aided a purported Ponzi scheme over a purported oil-and-gas industry technology company.

  • May 04, 2026

    Canada Pledges $1.1B For Companies Hit By US Tariffs

    Canada will provide CA$1.5 billion ($1.1 billion) in financing to companies impacted by U.S. tariffs, especially those on steel, aluminum and copper, the Canadian government said Monday, the latest in a string of support measures.

  • May 04, 2026

    5 Firms Guide Long Lake's $6.3B Amex Travel Unit Purchase

    American Express Global Business Travel said Monday it has agreed to be acquired by Long Lake Management in an all-cash deal valuing the corporate travel company at about $6.3 billion that was steered by five law firms.

  • May 04, 2026

    Davis Polk Lands Skadden's LA Leader To Launch New Office

    Davis Polk & Wardwell LLP is opening an office in Los Angeles and is bringing on the former leader of Skadden Arps Slate Meagher & Flom LLP's office in the city.

  • May 04, 2026

    WilmerHale Adds SEC Veteran As Financial Services Partner

    WilmerHale has added a former U.S. Securities and Exchange Commission deputy director as a partner in its securities and financial services department, the firm announced on Monday.

  • May 01, 2026

    NYDFS Fines Delta Dental $2.25M Over MOVEit Data Breach

    Delta Dental has agreed to pay $2.25 million to resolve the New York financial regulator's claims that the insurer maintained inadequate cybersecurity and breach response measures that enabled hackers to obtain access to files sent through the MOVEit transfer tool containing its customers' personal information. 

  • May 01, 2026

    Senators Unveil Stablecoin Yield Compromise For Crypto Bill

    Two members of the Senate Banking Committee on Friday shared language governing interest and rewards payments on stablecoins that appears to resolve a key battle between banks and fintech companies stalling the Senate's progress on a bill to regulate crypto markets known as the Clarity Act.

  • May 01, 2026

    2nd Circ. Urged To Remand Fed-Blocked Mortgage Program

    Major banking industry groups have urged the Second Circuit to remand to the Federal Reserve Board its order blocking a New York bank's proposed cash guarantee program for homebuyers, arguing the decision relied on a flawed legal interpretation that would effectively erase a key pathway for banks to pursue "complementary" nonbank activities.

  • May 01, 2026

    UBS Can't Escape $92M FINRA Award Over Tesla Stock Advice

    An Iowa district judge denied UBS Financial Services' bid to vacate an arbitration award granted by the Financial Industry Regulatory Authority Inc., telling the firm it must pay more than $23 million in compensatory damages and $69 million in punitive damages to several ex-UBS customers who said the firm advised them to short-sell electric car company Tesla Inc.'s stock.

  • May 01, 2026

    Lender Seeks Sale Of Colo. Building After $22.3M Default

    An Arizona investment firm asked a Colorado state court judge to foreclose on a commercial condominium after the owners defaulted on more than $22 million worth of loans.

  • May 01, 2026

    How Paul Clement Does It All

    For most lawyers, getting to argue before the U.S. Supreme Court is a once-in-a-lifetime event, but for a select few, it's a common occurrence. Clement & Murphy PLLC name partner Paul Clement is one of those lawyers. 

Expert Analysis

  • Mortgage EO Casts Wide Net In Push To Ease Lending Rules

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    A recent executive order targeting mortgage credit access states an intent to promote competition among all types of lenders and is notable for its breadth, resetting regulatory expectations in a number of areas including origination, digitization and licensing, says Kara Ward at Baker Donelson.

  • 'Made In America' Rules Raise Stakes For Gov't Contractors

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    The convergence of widely varying "buy American" requirements, increased enforcement efforts and continuing regulatory attempts to limit foreign sourcing suggests that government contractors should carefully review their supply chain and country-of-origin compliance to remain competitive, say attorneys at Arnold & Porter.

  • Recent Bank Resolution Filings Stress Readiness Over Docs

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    Against the backdrop of banking regulators' recent emphasis on institutional readiness in the event of a bank failure, a review of more than a dozen public resolution plan submissions points to an immediate future in which regulators and banks alike prioritize operational preparedness over extensive documentation, say attorneys at Moore & Van Allen.

  • Series

    Alpine Skiing Makes Me A Better Lawyer

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    Skiing has shaped habits I rely on daily as an attorney — focus, resilience and the ability to remain steady when circumstances shift rapidly — and influences the way I approach legal strategy, client counseling and teamwork, says Isaku Begert at Marshall Gerstein.

  • NY Tax Talk: Calculating Tiered Partnership Income

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    Attorneys at Eversheds Sutherland discuss how the potential impact recent New York City Tax Appeals Tribunal decision in Matter of Cantor Fitzgerald holding that the entity approach should be used by tiered partnerships to compute unincorporated business tax liability, why the issue of the proper approach remains unsettled and the broader implications for federal conformity and administrative agency deference.

  • Fair Housing Takeaways From Colony Ridge Settlement

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    The recent settlement agreement between Colony Ridge Developments, the U.S. government and the state of Texas — perhaps the first settlement involving unfair lending and housing practices during the second Trump administration — reflects current enforcement priorities and sheds light on shifting compliance risks, say attorneys at Weiner Brodsky.

  • Understanding The SEC's Consequential Crypto Guidance

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    The U.S. Securities and Exchange Commission's recent interpretive release — its most comprehensive statement ever on the application of the federal securities laws to crypto-assets — reimagines the Howey test to resolve long-standing questions over what is a security, but leaves many issues unresolved, say attorneys at Cahill.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q1

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    In the first quarter of 2026, New York's banking developments were headlined by initiatives to expand oversight of financial institutions and strengthen consumer protection laws, including a new framework for buy now, pay later lenders, a sweeping debt collection rule and a revised corporate self-disclosure program for financial crimes, say attorneys at Proskauer.

  • AI Recruiting Suit Shows Old Laws May Implicate New Tools

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    The Fair Credit Reporting Act allegations recently filed in Kistler v. Eightfold AI, are the latest example of broad definitional language in legacy statutes proving far more dangerous to companies deploying artificial intelligence – particularly in hiring – than any purpose-built artificial intelligence regulation, say attorneys at Ogletree.

  • 2 Rulings Poke Holes In Mandatory Restitution Framework

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    The U.S. Supreme Court’s recent ruling in Ellingburg v. U.S., as well as the Third Circuit’s recent ruling in U.S. v. Abrams, provide criminal defense practitioners with new tools to challenge Mandatory Victims Restitution Act orders, and highlight several restitution-related issues that converged in the recent prosecution of former Frank CEO Charlie Javice, say attorneys at Lankler Siffert & Wohl.

  • What Voluntary Calif. Carbon Reports Show About Compliance

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    While the enforcement of California's S.B. 261 is currently paused due to a Ninth Circuit injunction, more than 130 companies have nonetheless chosen to voluntarily publish climate-related financial risk disclosures, providing a useful snapshot of how the market is interpreting the law's requirements in practice, say attorneys at DLA Piper.

  • What A Court Doc Audit Reveals About Erroneous Filings

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    My audit of 1,522 court documents from last month found that over 95% contained at least one verifiable error, with fewer than 1% showing clear indicators of artificial intelligence use — highlighting above all else that lawyers may want to focus most on strengthening their review processes, says Elliott Ash at ETH Zurich.

  • Exploring When Fraud Asset Freezes Limit Right To Pick Atty

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    The defendant’s claim in the Seventh Circuit’s pending U.S. v. Shah case that the government restrained his assets until he couldn’t afford his chosen counsel presents a useful case study in how criminal forfeiture procedure interacts with U.S. Supreme Court rulings on Sixth Amendment rights and appealing complex fraud convictions, says Elisha Kobre at Sheppard.

  • Regulators' Basel Pitch May Bring Banks Capital Relief

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    The prudential banking agencies' new proposals to implement the so-called Basel III endgame rules — which would modify the approach to risk-based capital, among other notable changes — represent a fundamental directional shift in bank capital requirements aimed at increasing lending capacity, says Chen Xu at Debevoise.

  • Series

    Mich. Banking Brief: All The Notable Legal Updates In Q1

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    Michigan's financial services sector saw several significant developments in 2026's first quarter, including the state Department of Insurance and Financial Services' issuance of a bulletin on the use of artificial intelligence and the Michigan House's introduction of a bill based on the Model Money Transmission Modernization Act, say attorneys at Dykema.

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