Banking

  • May 12, 2026

    Zillow Fights Buyers' Effort To Revise Home Loan Lawsuit

    Zillow told a Washington federal court that homebuyers should not be allowed to amend their complaint alleging the real estate platform used its market dominance to inflate costs nationwide, arguing the late changes cure none of the deficiencies in the buyers' claims.

  • May 12, 2026

    Head Of First Liberty Ponzi Scheme Pleads Guilty To Fraud

    The leader of what Georgia and federal securities regulators have called a $140 million Ponzi scheme pled guilty to a federal wire charge Tuesday over allegations that he preyed on seniors and funneled money to right-wing politicians.

  • May 12, 2026

    8th Circ. Won't Revive Wells Fargo 401(k) Forfeiture Suit

    The Eighth Circuit on Tuesday affirmed a lower court's decision tossing a former Wells Fargo employee's proposed class action alleging the financial services firm unlawfully used forfeited 401(k) funds to offset its own matching contributions rather than covering plan expenses, but noted the suit should've been tossed without prejudice.

  • May 12, 2026

    3rd Circ. Says Financial Services Rule Thwarts Privacy Suit

    The Third Circuit declined to reinstate class claims made by a group of John Hancock customers from Illinois accusing Amazon Web Services Inc. and Pindrop Security Inc. of collecting consumers' voice data without their consent, ruling Tuesday that exemptions under Illinois and federal law applied.

  • May 12, 2026

    Investor Says AI Startup Duped Him Out Of $10M

    A Pennsylvania investor has sued LifeBrand Inc.'s founder, executives, a financial adviser and two financial institutions in the Delaware Chancery Court, claiming they used inflated business claims, hidden commissions and insider payouts to induce him to put more than $10 million into the social media monitoring startup.

  • May 12, 2026

    Squire Patton Adds Terrorism Financing Leader From Treasury

    Squire Patton Boggs LLP announced Tuesday it has hired the U.S. Department of the Treasury's former acting assistant secretary for terrorist financing, who focused her work at the agency on economic statecraft initiatives, as well as addressing geopolitical threats to the U.S. and global financial systems.

  • May 12, 2026

    Trump Admin Will Take CFPB Funding Fight To 9th Circ.

    The Trump administration will challenge a California federal court decision that ordered the Consumer Financial Protection Bureau to continue drawing funding from the Federal Reserve, setting the stage for renewed litigation over the agency's access to cash.

  • May 12, 2026

    Antares Clinches $8.5B Senior Loan Fund III

    Alternative credit firm Antares Capital, led by Davis Polk & Wardwell LLP, on Tuesday revealed that it wrapped its third fund after securing $8.5 billion in total commitments.

  • May 12, 2026

    Senate Puts Warsh On Track To Replace Powell As Fed Chair

    The U.S. Senate on Tuesday confirmed Trump nominee Kevin Warsh to a board seat at the Federal Reserve, moving him one step closer to taking over from Jerome Powell as chairman of the central bank.

  • May 11, 2026

    Binance Wants Last Claim Tossed In Hamas Victims' Suit

    Binance and its former CEO Changpeng Zhao have asked a Manhattan federal court to toss the last remaining claim in a lawsuit alleging the cryptocurrency exchange aided and abetted the terrorist group Hamas' attack in Israel, saying recent decisions in similar cases support dismissal.

  • May 11, 2026

    Fed's Bowman Says Bank Ratings Changes Are On The Way

    Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that regulators are preparing an overhaul of a key ratings system used for grading the condition of banks, casting it as part of a broader push to refocus bank oversight on so-called material financial risks.

  • May 11, 2026

    SEC Sends Plan To Nix Settlement 'Gag Rule' To White House

    The U.S. Securities and Exchange Commission has submitted to the White House a plan for rescinding a more than 50-year-old policy of restricting defendants who settle enforcement actions from denying the claims against them.

  • May 11, 2026

    'We Need Your Help': Banks Rallied For Stablecoin Yield Fight

    Banking groups are making a push for stronger language prohibiting stablecoin yield payments ahead of a looming Thursday markup of the Senate banking committee's long-awaited proposal to regulate crypto markets.

  • May 11, 2026

    Trading Scheme Is A 'Wake-Up Call' For BigLaw Compliance

    The breadth of a decade-long insider trading scheme prosecutors say was fueled by stolen BigLaw merger information should jolt firms to reexamine their practices to close gaps in internal security, experts told Law360, even if totally eliminating bad actors is nearly impossible.

  • May 11, 2026

    Binance Takes Investor Suit Arbitration Bid To 11th Circ.

    Binance and former CEO Changpeng Zhao are asking the Eleventh Circuit to review a Florida federal judge's decision denying their bid to compel arbitration of a proposed class action alleging that the crypto trading platform knowingly violated U.S. regulatory requirements.

  • May 08, 2026

    OCC Says AI Presents A Double-Edged Sword To Banks

    Artificial intelligence is "significantly transforming" the cybersecurity threat landscape for banks while also presenting opportunities to help defend against those heightened risks, according to a new report from the Office of the Comptroller of the Currency.

  • May 08, 2026

    Panama Beats Banesco Claim Over Public Works Bonds

    Panama has defeated a multimillion-dollar claim brought by the multinational financial institution Banesco, in which it accused the country of violating due process by arbitrarily seeking to redeem bonds guaranteeing certain unfulfilled public works contracts.

  • May 08, 2026

    6th Circ. Backs Ex-Fed Worker's Long COVID Benefits Denial

    The Sixth Circuit backed a win for the Federal Reserve Bank of Cleveland, its long-term disability plan, and a benefit management company in a former Cleveland Fed employee's suit seeking additional benefits for long-haul COVID symptoms, holding a lower court properly applied New York state contract law in reaching its decision. 

  • May 08, 2026

    Crypto Co. Kraken Files For OCC Trust Charter

    Cryptocurrency exchange Kraken, the first digital bank to hold a Federal Reserve master account, announced Friday it has applied for a national trust company charter with the Office of the Comptroller of the Currency to establish Payward National Trust Co., which would provide services for digital assets.

  • May 08, 2026

    SEC's Atkins Mulls Broker, Exchange Rule Tweaks For Crypto

    U.S. Securities and Exchange Commission Chair Paul Atkins on Friday floated a series of potential rulemaking efforts to address how regimes for brokers, exchanges, clearing agencies and other types of regulated functions apply to cryptocurrency software projects that don't fall within traditional categories.

  • May 08, 2026

    Block Sets Aside $240M Amid Talks To Settle DOJ Probe

    Jack Dorsey's Block Inc. has reserved $240 million as it works to settle a U.S. Department of Justice investigation tied to short-seller allegations that it turned a blind eye to fraud on Cash App, its mobile payment platform, according to an investor filing late Thursday.

  • May 08, 2026

    OCC Rules Spur 7th Circ. Remand In Ill. Swipe-Fee Fight

    The Seventh Circuit hit reset Friday in a closely watched legal challenge to a pending Illinois law that bans swipe fees on taxes and tips, directing a lower court to take another look at the case in light of new federal rules declaring the restrictions preempted for many banks.

  • May 08, 2026

    TTAB's 'Selective' Approach Spurs Drop In Precedents

    The precedential decision the Trademark Trial and Appeal Board issued late last month upholding the cancellation of a credit union's trademark registration was noteworthy not only for the binding authority it created, but also for its rarity: it was only the sixth such ruling from the board this fiscal year.

  • May 08, 2026

    Consumers Say Bank Can't Escape Fintech Collapse Suit

    Consumers who lost access to their funds following the 2024 collapse of fintech middleman Synapse Financial Technologies pushed back against an Arkansas bank's bid to escape a consolidated proposed class action, contending in Colorado federal court they sufficiently alleged fraud.

  • May 08, 2026

    White House Defends Pardon Process Following Dem Inquiry

    The White House says it has a "rigorous" review process for pardons following an investigation launched by Democrats into possible corruption.

Expert Analysis

  • Series

    Ultramarathons Make Me A Better Lawyer

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    Completing a 100-mile ultramarathon was tougher, more humbling and more rewarding than I ever imagined, and the experience highlighted how long-distance running has sharpened my ability to adapt to the evolving nature of antitrust law and strengthened my resolve to handle demanding, unforeseen challenges, says Dan Oakes at Axinn.

  • Key Takeaways From The 2026 ABA Antitrust Spring Meeting

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    Last week's American Bar Association Spring Meeting revealed an antitrust landscape defined by heightened friction and tension — between federal and state enforcers, domestic and international regimes, competing political visions, and traditional enforcement tools and novel challenges, say attorneys at Skadden.

  • Series

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

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    The first quarter of 2026 brought several consequential developments for Pennsylvania financial institutions, including the state banking department's first assessment overhaul in 10 years, a bill prohibiting interchange fees on card transaction sales taxes and a federal appeals court's upholding of a $52 million enforcement action, say attorneys at Gross McGinley.

  • Madison Capital Action Displays SEC's Emphasis On Process

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    The U.S. Securities and Exchange Commission's recent enforcement action against Madison Capital reflects the SEC's view that when market conditions materially change, valuation methodologies must be reassessed in real time, highlighting the importance of internal processes, say attorneys at Lankler Siffert & Wohl.

  • In First For DOJ, Action Signals New CFIUS Enforcement Era

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    The U.S. Department of Justice is seeking judicial enforcement of a divestment order, an unprecedented action for the agency that ushers in a new phase for the Committee on Foreign Investment in the United States, one in which judicial proceedings complement administrative oversight and presidential divestment orders may be enforced through litigation, says attorney Sohan Dasgupta.

  • Getting The Most Out Of Learning And Development Programs

    Excerpt from Practical Guidance
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    Junior associates can better develop the legal, business and interpersonal skills they need for long-term success by approaching their firms’ learning and development programs armed with five tips for getting the most out of these resources, says Lauren Hakala at Reed Smith.

  • OCC Rule Tests Nonfiduciary Powers Of Trust Banks

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    The Office of the Comptroller of the Currency's updates to its final rule on national bank chartering, effective April 1, may augur a showdown between the OCC, states and traditional banking institutions over both the authority of national trust banks to engage in nonfiduciary activities under the National Bank Act, and the scope of federal preemption, says Audrey Carroll at Stinson.

  • AI And Threats To Privilege In Financial Sector Probes

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    The recent spotlight on the potential for artificial intelligence platforms to serve as a source for discoverable information is especially important for financial institutions to understand, as the industry navigates increasingly complex regulatory expectations and AI tools become embedded in investigative efforts, say attorneys at Jackson Lewis.

  • 'A-C-T' Agenda Signals New Regulatory Era At SEC Speaks

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    At this year's SEC Speaks, U.S. Securities and Exchange Commission Chairman Paul Atkins unveiled his ambitious A-C-T agenda — advance, clarify and transform — to align the federal securities regulatory regime with modern markets, illustrating that the conference was not merely a status update but an action plan, say attorneys at Perkins Coie.

  • Opinion

    AI Presents A Make-Or-Break Moment For Outside Counsel

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    The rapid adoption of artificial intelligence by corporate legal departments is forcing a long-overdue reset of the relationship between inside and outside counsel, and introducing a significant opportunity to shed frustrating inefficiencies and strengthen collaboration for firms willing to embrace the shift, says Intel Chief Legal Officer April Miller Boise.

  • 8 Tariff Refund Questions For Restructuring Professionals

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    For restructuring and turnaround professionals, seeking refunds following the U.S. Supreme Court's recent decision invalidating tariffs imposed under the International Emergency Economic Powers Act raises several questions about how to capture legitimate recoveries while protecting an enterprise from the consequences of its own history, says Jonny Frank and Laura Greenman at StoneTurn, and Andrew Popescu at Province.

  • 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.

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