Banking

  • May 06, 2026

    CFTC Fines Trader $200K For Treasury Futures Spoofing

    The U.S. Commodity Futures Trading Commission announced on Wednesday that it settled claims against a dual French and American citizen who it accused of trying to fraudulently control the treasury futures market.

  • May 06, 2026

    BofA Can Shield OT Docs In Mortgage Officers' Suit

    A North Carolina federal judge has sided with Bank of America in a discovery dispute over documents the bank withheld as privileged in a mortgage loan officers' overtime lawsuit, finding the materials were part of a protected legal review process.

  • May 06, 2026

    Conn. Lawyer Makes 3rd Bid To Rejoin Bar After $3M Scheme

    A Connecticut lawyer who pled guilty to moving $3 million in pump-and-dump stock scheme proceeds through his trust account is again seeking readmission to the state bar, about two months after a judge allowed him to work as a paralegal under the supervision of another attorney.

  • May 06, 2026

    Citizens Bank Customer Says Software Vendor Leaked Info

    Communications software company Sefas Innovation Inc. has been hit with a proposed class action in Massachusetts federal court accusing it of failing to safeguard the data of its clients' customers from cybercriminals, resulting in a breach of its records in April.

  • May 05, 2026

    Software Co. Doxim Inks $5.5M Deal To End Data Breach Suit

    Credit union customers asked a Michigan federal judge Tuesday to preliminarily approve an amended $5.5 million class settlement resolving claims that software-as-a-service company Doxim Inc. failed to protect sensitive personal information that ended up exposed in a 2023 data breach.

  • May 05, 2026

    Kilpatrick Adds Buchalter Financial Services Partner In Seattle

    Attorney Marcus J. Williams joined Kilpatrick Townsend & Stockton LLP's Seattle office as a partner in its financial institutions team, the firm announced Tuesday, saying the hire from Buchalter PC would help bolster Kilpatrick's growth in the Pacific Northwest and Intermountain Region.

  • May 05, 2026

    ERISA Recap: 5 Litigation Developments From April

    The U.S. Supreme Court turned down a bakery company's bid for review of a union multiemployer pension withdrawal bill, the Fourth Circuit held a bonus plan was exempt from federal benefits law, and the Sixth Circuit ruled federal law preempted Arkansas pharmacy benefit manager laws and regulations. Here's more on those and two other major decisions from April that benefits attorneys may want to know.

  • May 05, 2026

    $100M AI Investment Suit Must Be Arbitrated, Financier Says

    A California financier Tuesday denied allegations in a $100 million fraud lawsuit over a "sham" loan transaction aimed at funding an investment into an artificial intelligence company, adding that the dispute belongs in arbitration in the Bahamas.

  • May 05, 2026

    NC Law Firm Can Pursue Coverage In $510K Loan Fraud Row

    A North Carolina federal judge on Tuesday said a professional liability insurer must face claims that it has to defend a law firm against allegations it was responsible for a $510,000 fraudulent home loan, finding documents in the closing package could preserve coverage. 

  • May 05, 2026

    Bittrex Seeks To Undo $24M Judgment After SEC Crypto Pivot

    Bankrupt cryptocurrency exchange Bittrex urged a Seattle federal judge to toss a $24 million judgment entered as part of a 2023 settlement with the U.S. Securities and Exchange Commission, arguing that the agency has since done an "about-face" on crypto and abandoned its position that digital tokens are securities.

  • May 05, 2026

    Tribal Loan Co. Wants To Arbitrate Predatory Lending Claims

    Tribally owned online direct lender WithU Loans is urging a Washington federal judge to send a consumer's proposed class action over alleged predatory lending practices to arbitration, arguing that the plaintiff agreed to arbitrate any claims against the company when he signed the loan agreement at issue.

  • May 05, 2026

    2nd Circ. Says NY Escrow Interest Law Is Preempted, Again

    The Second Circuit ruled Tuesday that national banks are exempt from a New York law that requires interest to be paid on mortgage escrow accounts, handing a key victory to Bank of America NA in closely watched litigation testing the limits of states' banking regulatory authority.

  • May 05, 2026

    Texas Appeals Court Wary Of Reviving Trustee's $100M Claim

    A Texas appeals panel seemed skeptical of a bankruptcy trustee's attempt to revive an action seeking to claw back money distributed by True Health Group to its shareholders before the company declared bankruptcy, asking Tuesday if the trustee brought its claims under the correct portion of the law.

  • May 05, 2026

    4th Circ. Unsure Wells Fargo Denied Ex-Worker's WFH Request

    A Fourth Circuit panel seemed uncertain Tuesday of whether it would uphold the entirety of a $22 million Americans with Disabilities Act verdict favoring a former Wells Fargo employee, with at least two judges questioning whether he suffered a concrete injury from the bank allegedly failing to accommodate his work-from-home request.

  • May 05, 2026

    Santander Says Ex-Adviser Poached Lion's Share Of Clients

    Santander Bank and its investment adviser unit have sued a former employee, alleging that he improperly wooed away the vast majority of his clients when he decamped for a competitor.

  • May 05, 2026

    BlackRock, State Street Push To Trim Red State AGs' Suit

    BlackRock and State Street have further urged a Texas federal judge to trim down antitrust claims from Republican state attorneys general accusing the asset managers of driving up coal prices, arguing that the chain from their investment activity to retail electricity prices "stretches through multiple intervening markets and countless nonparties."

  • 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."

Expert Analysis

  • When 'Qualified Transferees' Can Chill UCC Foreclosures

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    A recent New York state court decision in a closely watched real estate dispute in WWP Mezz LLC v. WWP Mezz Investment Co. is a reminder to lenders, and a warning to borrowers, of the Uniform Commercial Code foreclosure's immense power as a lender remedy, says Joshua Wurtzel at Schlam Stone.

  • Series

    Watching Hallmark Movies Makes Me A Better Lawyer

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    I realize you may be judging me for watching, and actually enjoying, Hallmark Channel movies, but the escapism and storylines actually demonstrate qualities and actions that lead to an efficient, productive and positive legal practice, says Karen Ross at Tucker Ellis.

  • NY Bill Elevates Criminal Risk For 'Shadow' Crypto Firms

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    New York's proposed CRYPTO Act would expose unlicensed digital asset operators to criminal penalties ranging from state misdemeanor charges to felony convictions, potentially marking a significant shift in how New York — already among the most aggressive crypto regulators — oversees virtual currency businesses, say attorneys at Crowell & Moring.

  • Opinion

    AI Doc Ruling Got Privilege Analysis Wrong

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    Broad reasoning used by a New York federal judge in U.S. v. Heppner — to determine the criminal defendant's interactions with a generative artificial intelligence platform were not protected — mistakenly treats AI use as dispositive disclosure to a third party and adopts an unduly narrow conception of work product, say attorneys at Lankler Siffert.

  • AG Watch: New York's Heightened Enforcement In Real Estate

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    Over the past several months, New York Attorney General Letitia James has brought a rapid succession of enforcement actions targeting rent stabilization abuse, unsafe housing conditions and fraudulent securities practices, signaling that the office views these problems as systemic issues warranting aggressive intervention, say attorneys at Quinn Emanuel.

  • Assessing Potential Legal Claims From Private Credit Turmoil

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    Amid the downturn in the private credit markets spurred by multiple high-profile bankruptcies, a New York lawsuit stemming from the collapse of First Brands provides an important case study for investors to help minimize future losses and maximize any potential recovery in the event of a private credit default, say attorneys at Bleichmar Fonti.

  • Stablecoin Yield Reform Raises Stakes For Community Banks

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    Risks for community banks are heightened by the Clarity and Genius Acts, which establish stablecoin market parameters and may lead to traditional bank fund withdrawals in the long term, but a recent Senate amendment to the former bill could prevent deposit runoff, says Thomas Walker at Jones Walker.

  • What To Watch At The 2026 ABA Antitrust Spring Meeting

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    Attorneys at Freshfields consider the future of antitrust law and competition among developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.

  • How DOJ's New Corporate Crime Policy Will Work In Practice

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    The upshot of the Justice Department's new corporate crimes enforcement framework is uniformity for self-reporting companies, but there is uncertainty around how it will be applied in interaction with the Southern District of New York's more lenient, yet unpredictable, financial crimes enforcement program, say attorneys at Cahill Gordon.

  • What FINRA Enforcement Changes Mean For Investigations

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    It is essential for in-house counsel and compliance officers to familiarize themselves with the Financial Industry Regulatory Authority's recently announced changes to its enforcement program, which offer both clearer visibility into FINRA's expectations and a valuable opportunity to strengthen regulatory readiness, say attorneys at Eversheds Sutherland.

  • One Idea To Fix The SEC's Risk Factor Disclosure Rules

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    U.S. Securities and Exchange Commission Chairman Paul Atkins recently invited the industry to suggest ways to reform the current risk factor disclosure framework, and amending Rule 10b-5 is one potential option to consider, say attorneys at A&O Shearman.

  • Agentic AI Use May Trigger Existing Consumer Finance Laws

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    As artificial intelligence agents interact more and more with payment systems, financial institutions should be cognizant of how existing consumer protection laws like the Equal Credit Opportunity Act apply when transactions are executed by automated systems rather than individuals, noting authorization and liability gaps, say attorneys at Sheppard.

  • SEC Guidance Further Solidifies Status Of Tokenized Assets

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    The U.S. Securities and Exchange Commission recently released a statement that tokenized securities are securities governed by traditional securities laws, representing continued regulatory clarity and the development of expanded technical standards and risk management guidelines that can only improve the long-term viability of financial markets, say attorneys at Barnes & Thornburg.

  • 5 Tips For Navigating Your Firm's All-Attorney Summit

    Excerpt from Practical Guidance
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    Law firm retreats should be approached strategically, as they present valuable opportunities to advance both the firm's objectives and attorneys' professional development through meaningful participation, building and strengthening internal relationships, and proactive follow-up, says James Argionis at Cozen O’Connor.

  • CFTC's No-Action Relief Fuels Energy Market Competition

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    The U.S. Commodity Futures Trading Commission recently launched a pilot program aimed at expanding access to energy markets, reflecting a shift toward supporting robust derivatives markets that balance regulatory safeguards with the needs of commodity end users, say attorneys at Moore & Van Allen.

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