Banking

  • March 08, 2024

    Kwok Judge Lets Gov't Keep $302M In Crypto For Restitution

    A New York federal judge has denied a request to return more than $300 million in assets to holders of cryptocurrrency issued by bankrupt Chinese exile Ho Wan Kwok's Himalaya Exchange, finding that the federal government has a continued interest in the property it seized.

  • March 08, 2024

    New Headache For Binance As 2nd Circ. Revives Investor Suit

    The Second Circuit on Friday revived a proposed investor class action against the embattled crypto exchange Binance Holdings Ltd. and its founder, disagreeing with a lower court that ruled the customers had not alleged their transactions were conducted in the U.S.

  • March 08, 2024

    Ex-Private Funds Leader With Perkins Coie Jumps To MoFo

    The former chair of Perkins Coie LLP's private investment funds group has jumped to Morrison Foerster LLP in Denver.

  • March 07, 2024

    Ginnie Mae Says Texas Bank Can't Use Oral Promises In Suit

    The Government National Mortgage Association told a Texas federal court Wednesday that even if it made oral promises not to void a Texas Capital Bank's interest in a first-priority lien on a multimillion-dollar emergency loan, those promises don't hold up legally and the case should be dismissed.

  • March 07, 2024

    Judges Say Facing Threats And Vitriol Now Part Of The Job

    Federal judges spoke Thursday about the challenges of the profession in the 21st century, describing how they've either received threats or know of warnings against colleagues, with one jurist saying she received 11 death threats during her first three months on the bench.

  • March 07, 2024

    Biden Touts Antitrust Stance As Move To Lower Housing Cost

    President Joe Biden in his State of the Union address praised his administration's position backing antitrust lawsuits against rental algorithm companies RealPage Inc. and Yardi, and he urged Congress to support his plan to build or renovate 2 million affordable units, establish a tax credit for first-time homebuyers and other steps aimed at lowering housing costs.

  • March 07, 2024

    Caliber Says Ex-Exec's Terms With Predecessor Still Apply

    Caliber Home Loans Inc. has urged a Dallas federal court to reject a former executive's bid to trim a lawsuit accusing him of raiding the company's workforce when he defected for a competitor, arguing that a contract breach claim still stands even though he worked for a predecessor when he signed the contract at issue. 

  • March 07, 2024

    Wells Fargo, Goldman Escape Some Climate Proxy Proposals

    The Goldman Sachs Group Inc. and Wells Fargo & Co. may exclude from their upcoming proxy statements shareholder proposals calling for reports on their clients' climate change commitments, according to the U.S. Securities and Exchange staff, which also wouldn't let Wells Fargo or Texas Instruments Inc. escape including separate labor and human rights-related proposals.

  • March 07, 2024

    Deputy AG Unveils DOJ Whistleblower Rewards Pilot Program

    Deputy Attorney General Lisa Monaco on Thursday said the U.S. Department of Justice will soon begin a pilot program to financially reward whistleblowers who alert prosecutors to significant corporate misconduct.

  • March 07, 2024

    IP Forecast: 2nd Circ. To Consider Whether Seltzer Is Beer

    The Modelo brand will head to the Second Circuit next week to argue that a Manhattan jury erred when it found that Corona's flavored seltzer is just about the same as beer in light of a contract that the companies entered. Here's a look at that case — plus all the other major intellectual property matters on deck in the coming week.

  • March 07, 2024

    Axos Bank Sued Over Money Market Account Reclassification

    Axos Bank has been hit with a proposed class action in California federal court, alleging that it reclassified customers' high-yield money market accounts into lower-yield investment accounts without informing them.

  • March 07, 2024

    American Airlines Says Frequent Flier Suit Belongs In Texas

    American Airlines said Texas is the proper forum for a proposed class action in California alleging it improperly terminated customers' frequent flyer accounts and wiped out the value of the miles they accrued, saying AAdvantage program membership decisions are made in its Fort Worth headquarters.

  • March 07, 2024

    Ex-SVB Counsel Farella Braun Seeks $49K In Unpaid Fees

    Farella Braun & Martel LLP, which previously represented Silicon Valley Bank's parent in a dispute over fraud coverage, has sued the Federal Deposit Insurance Corp. in a California federal court to extract nearly $49,000 in unpaid legal fees it says the agency must pay on behalf of the defunct lender.

  • March 07, 2024

    Jailed Reality Star Slammed For Raising 'Irrelevant' Evidence

    Less than a month ahead of trial, a Georgia Department of Revenue employee suing imprisoned former reality television star Michael "Todd" Chrisley has asked a Georgia federal judge to stop Chrisley from bringing in evidence she says is "irrelevant" to the defamation case she brought against him.

  • March 07, 2024

    Wells Fargo Charged For Unwanted Programs, Customer Says

    An Ohio resident is the latest to bring proposed class claims against Wells Fargo over the bank's recent disclosures that some of its customers were unwittingly enrolled in certain financial products offered by the bank as far back as 2007, and charged fees for them.

  • March 07, 2024

    Banking Groups Sue CFPB Over Credit Card Late Fee Rule

    The U.S. Chamber of Commerce and bank trade groups sued the Consumer Financial Protection Bureau in Texas federal court on Thursday over its new rule to limit credit card late fees to $8, following through on a widely expected challenge to the potentially multibillion-dollar cut to industry revenues.

  • March 07, 2024

    Brafman Attys Known For Repping Big Names Open Firm

    A trio of former Brafman & Associates PC lawyers with a history of representing high-profile figures like former Goldman Sachs executive Roger Ng have launched their own criminal defense practice in Manhattan.

  • March 07, 2024

    Fed Working To Beef Up Supervision 'Rulebook,' Powell Says

    Federal Reserve Chair Jerome Powell told senators Thursday that efforts are underway to strengthen bank supervision following last year's failures of Silicon Valley Bank and other regional lenders, including the development of a "new rulebook" for more robust examiner action.

  • March 07, 2024

    NJ Appeals Court Revives Sex Bias Suit Against Mortgage Co.

    A trial court jumped the gun when it threw out a former mortgage company employee's lawsuit alleging she was subjected to sexist comments and then forced to quit, a New Jersey state appeals court ruled, concluding she had not waited too long to file her suit.

  • March 07, 2024

    Paul Hastings Lands NY Real Estate Pro From McDermott

    Paul Hastings LLP announced Thursday that it has hired a leader in complex real estate transactions as a partner in New York.

  • March 06, 2024

    Red State AGs Sue SEC Over 'Illegal' Climate Disclosure Regs

    The attorneys general of West Virginia and Georgia are heading a coalition of 10 Republican-led states in asking the Eleventh Circuit to review the U.S. Securities and Exchange Commission's adoption Wednesday of climate reporting standards requiring some of the nation's largest companies to publicly disclose their greenhouse gas emissions.

  • March 06, 2024

    Garland On AI Crime, And A Taylor Swift Tune For DOJ

    U.S. Attorney General Merrick Garland on Wednesday told a group of lawyers gathered in San Francisco that the U.S. Department of Justice is ramping up its hiring of computer scientists to fight artificial intelligence-driven crime and also revealed which Taylor Swift song he thought should be the department's anthem.

  • March 06, 2024

    DOJ Says Docs Exempt From Release In Ex-JPM Trader Case

    The U.S. Department of Justice has asked a D.C. federal court to shut down a former JPMorgan forex trader's latest bid for allegedly exculpatory material from the government's failed market manipulation case against him, arguing the records are properly considered protected from public disclosure.  

  • March 06, 2024

    Latham Passes Skadden As Busiest Securities Defense Firm

    Despite a downward trend in securities case filings over the past three years, Latham & Watkins LLP has remained one of the most active law firms on the defense side, taking over the top spot from Skadden Arps Slate Meagher & Flom LLP, according to reports released by Lex Machina.

  • March 06, 2024

    Citibank Sued Over Surprise Fee For Bounced Checks

    Citibank blindsides customers with an undisclosed fee for deposited checks that ultimately bounce, according to proposed class claims filed in South Dakota federal court.

Expert Analysis

  • Money Transmitter Licensing: An Issue Too Costly To Ignore

    Author Photo

    Money transmitter licensing has become particularly relevant in recent years as digital currencies and payment technologies have piqued regulator interest, and companies should consider whether they need to be licensed to avoid disruption of operations, as well as significant fines and penalties, says Clayton Swears at Hudson Cook.

  • CFPB's Proposed Overdraft Rule Evokes A Dickensian Tale

    Author Photo

    The Consumer Financial Protection Bureau's new proposed rule, declaring overdraft credit to be under Truth In Lending Act protection, creates tension between vigorous agency action and judicial concerns about administrative overreach that calls to mind Charles Dickens' "A Tale of Two Cities," say Eric Mogilnicki and David Stein at Covington.

  • Considerations For Lawyer Witnesses After FTX Trial

    Author Photo

    Sam Bankman-Fried's recent trial testimony about his lawyers' involvement in FTX's business highlights the need for attorney-witnesses to understand privilege issues in order to avoid costly discovery disputes and, potentially, uncover critical evidence an adversary might seek to conceal, says Lawrence Bluestone at Genova Burns.

  • NY Discovery Stay Ruling Empowers Securities Defendants

    Author Photo

    A New York state appeals court’s recent decision in Camelot Event v. Morgan Stanley — which extends a federal securities law's discovery stay to state courts — clarifies an issue that has perplexed state courts across the country and provides the advantage of reduced discovery costs to securities defendants, say Katherine Kelly Fell and Jeremy Wertz at Milbank.

  • The 7th Circ.'s Top 10 Civil Opinions Of 2023

    Author Photo

    Attorneys at Jenner & Block examine the most significant decisions issued by the Seventh Circuit in 2023, and explain how they may affect issues related to antitrust, constitutional law, federal jurisdiction and more.

  • Employee Experience Strategy Can Boost Law Firm Success

    Author Photo

    Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.

  • Opinion

    CFPB Must Clarify When Anti-Fraud Benefits Offset Harms

    Author Photo

    The Consumer Financial Protection Bureau's ill-explained orders against two banks, concerning legitimate unemployment accounts that were frozen in attempts to control COVID-era fraud, illustrate an urgent need for bureau guidance on when the systemwide benefits of a potentially unfair practice outweigh the risk of harming a minority of consumers, says Jonathan Joshua at Joshua Law Firm.

  • Series

    Competing In Triathlons Makes Me A Better Lawyer

    Author Photo

    While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.

  • OCC Guidance May Lead Off 'Buy Now, Pay Later' Regulations

    Author Photo

    The Office of the Comptroller of the Currency's bulletin released last month to assist national and federal savings banks with managing the risks posed by "buy now, pay later" lending may be the start of increased state legislation or guidance specifically aimed at regulating such loans, say Susan Seaman and Jacob Huston at Husch Blackwell.

  • NJ Foreclosure Law Will Have Multifaceted Impact On Lenders

    Author Photo

    New Jersey's A.B. 5664 introduces significant reforms to foreclosure proceedings in the state, potentially lessening the burden on lenders and servicers to maintain foreclosed properties, but also brings new limitations and time frames, say Christina Livorsi and Wael Amer at Day Pitney.

  • Where Justices Stand On Chevron Doctrine Post-Argument

    Author Photo

    Following recent oral argument at the U.S. Supreme Court, at least four justices appear to be in favor of overturning the long-standing Chevron deference, and three justices seem ready to uphold it, which means the ultimate decision may rest on Chief Justice John Roberts' vote, say Wayne D'Angelo and Zachary Lee at Kelley Drye.

  • Perspectives

    6 Practice Pointers For Pro Bono Immigration Practice

    Author Photo

    An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.

  • Series

    ESG Around The World: Canada

    Author Photo

    In Canada, multiple statutes, regulations, common law and industry guidance address environmental, social and governance considerations, with debate over ESG in the business realm potentially growing on the horizon, say attorneys at Blakes.

  • Bank M&A Considerations Amid 2024's Regulatory Uncertainty

    Author Photo

    Following the decline in banking mergers to the lowest level in more than a decade last year, receptiveness to community bank combinations and positive macroeconomic factors may help banks with less than $50 billion in assets see increased deal-making opportunities this year, despite regulatory uncertainty, say Robert Azarow and Amber Hay at Arnold & Porter.

  • Lessons From Country Singer's Personal Service Saga

    Author Photo

    Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Banking archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!