Banking

  • February 04, 2026

    DiCello Levitt Taps SEC Vets For Whistleblower Practice

    DiCello Levitt has acquired a boutique practice that represents U.S. Securities and Exchange Commission whistleblowers, bringing on a pair of former SEC attorneys whose clients have helped the government secure more than $2 billion in monetary sanctions, according to the firm.

  • February 04, 2026

    Clemency Was 'Broken' Long Before Trump. Can It Be Fixed?

    President Donald Trump has transformed what has historically been a bureaucratic process for seeking federal pardons and commutations into a more freewheeling affair with few clear rules — and no easy solutions for reform, experts say.

  • February 04, 2026

    Walgreens Says Audio Recording Refutes Shareholders' Claim

    Walgreens told an Illinois federal judge Tuesday that newly discovered evidence warrants revisiting a decision allowing shareholders' claim over an executive's allegedly false statement to move forward, saying an audio recording shows "no basis to conclude the actual statement was false or misleading when made."

  • February 04, 2026

    Fintech Exec Wins Toss Of $150M Fraud Case After Mistrial

    A Massachusetts federal judge Wednesday said she had no choice but to dismiss charges against a former executive over an alleged $150 million credit card payment fraud scheme on double jeopardy grounds following a mistrial last year.

  • February 04, 2026

    TMX Wants $52M Penalty From Pa. Banking Regulators Axed

    A TitleMax affiliate urged a Pennsylvania Commonwealth Court panel on Wednesday to strike down a $52 million penalty that state banking regulators have lodged against it over alleged usury law violations, arguing that the disputed loans it provided to state residents were neither negotiated nor made in the Keystone State.

  • February 03, 2026

    OCC Urged To Scrap Escrow 'Giveaway' To Banks

    Consumer advocates are urging the Office of the Comptroller of the Currency to abandon proposals they say would let national banks unfairly profit off homeowners' escrowed money, warning the plan unlawfully revives a rejected deregulatory playbook.

  • February 03, 2026

    Ex-Fed Adviser Acquitted Of Espionage Conspiracy Charge

    A Washington, D.C., federal jury Tuesday acquitted a former senior adviser to the Federal Reserve Board of Governors of conspiring to steal confidential data for Chinese intelligence.

  • February 03, 2026

    Calif. Cardholders Ask 2nd Circ. To Revive Swipe Fee Suit

    California cardholders accusing Visa, Mastercard and other major banks of conspiring to fix interchange fees have asked the Second Circuit to revive their claims after a district court judge denied their motion for reconsideration in a long-running multidistrict litigation.

  • February 03, 2026

    Wachtell Lipton, Davis Polk Steer $12B Santander Deal

    Wachtell Lipton Rosen & Katz and Davis Polk & Wardwell LLP are guiding Banco Santander SA's $12.3 billion cash-and-stock acquisition of Webster Financial Corp., according to an announcement made Tuesday.

  • February 03, 2026

    SEC Tosses Biden-Era Case Against Wyoming Crypto Co.

    The U.S. Securities and Exchange Commission has walked away from an attempt to block the issuance of a pair of digital tokens offered by a Wyoming-based company, saying that changes in federal policy toward the cryptocurrency industry necessitated an end to the administrative proceedings.

  • February 03, 2026

    Trump Admin Can't Gut CFPB Off The Books, DC Circ. Told

    The Consumer Financial Protection Bureau's employee union has urged the full D.C. Circuit to uphold a lower court order blocking sweeping cuts at the agency, arguing the Trump administration's legal theory for lifting the order would allow officials to dismantle an agency so long as they don't "put it in writing."

  • February 03, 2026

    Ex-BofA Banker Cops To Role In Medicare Fraud Scheme

    A former Bank of America banker copped to a money laundering conspiracy charge Tuesday in New York federal court in connection with a transnational scheme that made over $8 billion in fraudulent Medicare claims for glucose monitors and urinary catheters that were medically unnecessary, according to the U.S. Department of Justice.

  • February 03, 2026

    Mass. AG Sues Bitcoin ATM Co. For Allegedly Enabling Scams

    A major bitcoin ATM operator is facing allegations from the Massachusetts attorney general's office that it does little to prevent customers from falling prey to cryptocurrency scams as it profits from the transactions, in a new complaint filed on Tuesday.

  • February 03, 2026

    OCC's Ex-Chief Of Enforcement Joins Morgan Lewis In DC

    A former acting director of enforcement at the Office of the Comptroller of the Currency has joined Morgan Lewis & Bockius LLP's financial regulatory and enforcement litigation and investment management practices in Washington, D.C., marking his first move into private practice following an extensive career in public service.

  • February 03, 2026

    2nd Circ. Keeps Credit Suisse Collapse Suit Out Of US Courts

    The Second Circuit on Tuesday declined to revive a shareholder suit accusing Credit Suisse and related entities of misconduct leading up to the bank's collapse, holding that a New York judge was not wrong to find that the litigation is overwhelmingly tied to Switzerland.

  • February 02, 2026

    NBA Star Says He Didn't Know Of Ex-Adviser's Self-Dealing

    Portland Trail Blazers star Jrue Holiday on Monday told a Manhattan federal jury that he didn't know that his former Morgan Stanley financial adviser was also on the other side of the NBA star's investment in a $10 million life insurance deal, saying it would have been a dealbreaker if he had known.

  • February 02, 2026

    Wheeling & Appealing: The Latest Must-Know Appellate Action

    What happened to a GOP donor's $250,000 Swiss watch? Can cigarette warnings show jarring medical images? Will a circuit split of "far-reaching importance" for arbitration get even wider? That's a taste of the oral argument menu we'll help you digest in this preview of February's top appellate action.

  • February 02, 2026

    Broker-Dealer Fined $750K Over Text Message Recordkeeping

    Benjamin F. Edwards & Co. Inc. has agreed to a censure and $750,000 fine to settle the Financial Industry Regulatory Authority's allegations that the broker-dealer failed to properly supervise and preserve its employees' business-related text messages.

  • February 02, 2026

    Investment Funds Pro Rejoins Davis Polk From Paul Weiss

    A private funds and investment management regulatory lawyer is returning to Davis Polk & Wardwell LLP as a partner in the firm's New York office after spending nearly four years with Paul Weiss Rifkind Wharton & Garrison LLP, where he served as head of the firm's investment management regulation practice.

  • February 02, 2026

    US Bancorp Beats Suit Over Brokerage Cash-Sweep Program

    A Minnesota federal judge permanently threw out a proposed class action accusing U.S. Bancorp and its brokerage unit of shortchanging customers on interest through a cash-sweep program, finding in part that the bank never promised customers a particular minimum interest rate.

  • February 02, 2026

    Fla. Financial Adviser Gets 20 Years For $94M Fraud

    A Florida federal judge Monday sentenced a financial adviser to 20 years in prison after he pled guilty to orchestrating a Ponzi-like scheme that defrauded $94 million from victims, including the elderly and Catholic priests in Venezuela. 

  • January 30, 2026

    Conn. Justices Free Calif. Woman From Tax Bank Seizure

    The Connecticut Supreme Court ruled Friday that a tax collector cannot recover a shuttered company's debts from a California woman's personal bank accounts, saying the case presented an issue of first impression that has "vexed legal scholars" and "spawned a split of authority" among and within federal and state courts.

  • January 30, 2026

    Baltimore Sues Payday Lender Dave Over 'Usurious' Loans

    The city of Baltimore sued Los Angeles-based lender Dave Inc. in state circuit court Friday, alleging that the financial technology company disguises high-interest payday loans as "overdraft services," while charging "astounding, usurious" annual percentage rates exceeding 2,500%, which is far above Maryland's 33% legal limit.

  • January 30, 2026

    Ex-TD Bank Employee Cops To Helping Launder Drug Money

    A former TD Bank NA employee who worked in Florida has pleaded guilty to accepting bribes and assisting in a money laundering scheme that illicitly sent millions of dollars in narcotics proceeds from the United States to Colombia while employed by the bank.

  • January 30, 2026

    1st Circ. Upholds Atty's 7-Year Sentence In Email Fraud Case

    A panel of the First Circuit has affirmed a more than seven-year prison term and $2 million restitution order for an Illinois lawyer convicted of collecting proceeds from a romance and real estate email fraud scheme.

Expert Analysis

  • Opinion

    The Case For Emulating, Not Dividing, The Ninth Circuit

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    Champions for improved judicial administration should reject the unfounded criticisms driving recent Senate proposals to divide the Ninth Circuit and instead seek to replicate the court's unique strengths and successes, says Ninth Circuit Judge J. Clifford Wallace.

  • Banking M&A Outlook Reflects Favorable Regulatory Climate

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    The banking mergers and acquisitions environment is starting 2026 with a rare alignment of favorable market conditions and a more permissive regulatory atmosphere, creating a clear window for banks to pursue transformative combinations and shape the competitive landscape, say attorneys at Reed Smith.

  • Targeted Action, Rule Tweaks Reflect 2025 AML Priority Shifts

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    Though 2025’s anti-money-laundering landscape was characterized not by volume of penalties but by the strategic recalibration of how illicit finance risk is handled, a series of targeted enforcement actions signaled that regulators aren't easing off the accelerator, even as they refine the rules of the road, say attorneys at MoFo.

  • Series

    Mass. Banking Brief: All The Notable Legal Updates In Q4

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    Among the most significant developments on the banking regulation front in Massachusetts last quarter, Attorney General Andrea Joy Campbell announced her bid for reelection, and the state Division of Banks continued its fintech focus by finalizing rules implementing a new money transmitter law, say attorneys at Nutter.

  • Series

    Muay Thai Makes Me A Better Lawyer

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    Muay Thai kickboxing has taught me that in order to win, one must stick to one's game plan and adapt under pressure, just as when facing challenges by opposing counsel or judges, says Mark Schork at Feldman Shepherd.

  • Series

    Law School's Missed Lessons: Intentional Career-Building

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    A successful legal career is built through intention: understanding expectations, assessing strengths honestly and proactively seeking opportunities to grow and cultivating relationships that support your development, say Erika Drous and Hillary Mann at Morrison Foerster.

  • State AG Enforcement During CFPB Gap Predicts 2026 Trends

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    State attorneys general responded to the decrease in Consumer Financial Protection Bureau enforcement in 2025 by stepping in to regulate consumer finance more than ever before, and the trends in rebooting CFPB investigations, cracking down on ESG and DEI initiatives, and fighting financial exploitation of homeowners will likely extend into 2026, say attorneys at Cozen O'Connor.

  • Series

    A Day In The In-House Life: Chime GC Talks Pathfinding

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    On a recent Tuesday in the office, Chime's general counsel Adam Frankel shares his typical work day, tackling everything from strategically guiding product launches and testing AI tools to mastering the perfect latte and making time for extracurricular interests.

  • US Sanctions Targeting Russia's Oil Giants Heighten Biz Risks

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    Businesses operating in the energy sector, both in and outside the U.S., should review their operations for any links to Russian oil companies and their subsidiaries recently targeted by U.S. sanctions, to avoid unexpected reputational and financial risk, and even secondary sanctions, say authors at Blank Rome.

  • Expect A New Normal In Commercial Real Estate This Year

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    Even amid office vacancies and a wave of loan maturities, the commercial real estate market isn't as volatile as one might expect heading into 2026, but market stress is still uniquely intersecting with broader business challenges, creating new opportunities for corporate counsel and other practitioners beyond real estate, says Mark Bell at Stinson.

  • 2nd Circ. Ruling Shows Procedural Perils Of Civil Forfeiture

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    The Second Circuit’s recent U.S. v. Ross decision, partially denying the return of an attorney's seized funds based on rigid standing requirements, underscores the unforgiving technical complexities of civil asset forfeiture law, and provides several lessons for practitioners, says Elisha Kobre at Sheppard Mullin.

  • Preparing For Congressional Investigations In A Midterm Year

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    2026 will be a consequential year for congressional oversight as the upcoming midterm elections may yield bolder investigations and more aggressive state attorneys general coalitions, so companies should consider adopting risk management measures to get ahead of potential changes, say attorneys at Morgan Lewis.

  • How Bank M&A Prospects Brightened In 2025

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    Even with less-than-ideal macroeconomic conditions in 2025, federal banking regulators' shift away from procedural concerns to focus more on core financial risks boosted M&A in several key ways, including shorter review timelines and increased interest in de novo charters, say attorneys at Arnold & Porter.

  • 3 Securities Litigation Trends To Watch In 2026

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    Pending federal appellate cases suggest that 2026 will be a significant year for securities litigation, with long-standing debates about class certification, new questions about the risks and value of artificial intelligence features, and private plaintiffs' growing role in cryptocurrency enforcement likely to be major themes, say attorneys at Willkie.

  • Funding Haze And Deregulatory Pursuits: The CFPB In 2026

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    In 2025, the Consumer Financial Protection Bureau did not seek additional funding from the Federal Reserve and unwound the legacy of former bureau leadership, and this year will bring further efforts to rescind or rewrite bureau regulations, as well as a changed tone to supervision efforts, say attorneys at Covington.

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