Fintech

  • February 26, 2024

    Albright Pauses DOE's Crypto Mining Survey, For Now

    A Texas federal judge has temporarily barred the U.S. Department of Energy from requiring crypto mining firms to provide data on their electricity usage after a lawsuit from a Texas industry group and a bitcoin mining firm accused the government of skirting the process to approve the survey.

  • February 26, 2024

    'Pig Butchering' Victim Slaps Binance, Ex-CEO With RICO Suit

    Binance and the cryptocurrency exchange's former CEO let criminal syndicates run fraud schemes through its platform by flouting laws against money laundering and money transmitting, according to an $8.1 million civil racketeering suit filed in Boston federal court.

  • February 26, 2024

    1st Circ. Rejects Crypto Founder's Hollow Fraud Appeal

    A cryptocurrency founder convicted of fraud hitched his appeal to "inapplicable precedent" and failed to muster an argument why a judge's blocking of testimony from government witnesses deprived his defense of material and favorable evidence, the First Circuit said in upholding the guilty verdict.

  • February 24, 2024

    Up Next At High Court: Social Media Laws & Bump Stocks

    The U.S. Supreme Court will hear oral arguments related to three big-ticket cases this week in a pair of First Amendment challenges to Florida and Texas laws prohibiting social media platforms from removing content or users based on their viewpoints and a dispute over the federal government's authority to ban bump stocks.

  • February 23, 2024

    CFPB Subjects Lender To Supervision In 1st Oversight Flex

    The Consumer Financial Protection Bureau said Friday that it has decided to require supervision for one of the nation's largest personal installment lenders, a move that marks the first time the agency has flexed its special risk-based oversight power over a company's objections.

  • February 23, 2024

    Russia Assets Seen As Key To Tipping The Scales For Ukraine

    The 500-plus sanctions the U.S. added against Russia and its enablers Friday will continue to make the Kremlin's war more costly, but experts say the key to a real sea change in Ukraine is giving it Russia's seized assets abroad.

  • February 23, 2024

    FTC Rips H&R Block's 'Deceptive' Marketing, 'Coercive' Ploys

    The Federal Trade Commission filed an administrative complaint against H&R Block claiming the tax preparation company deceptively marketed some products as "free" and "coerced" people to pay for pricier products, the government agency announced Friday.

  • February 23, 2024

    Heartland Payment Fights Cert. Bid In School Lunch Card Suit

    Payment processor Heartland Payment Systems LLC has asked a Florida federal judge to deny class certification to Heartland customers alleging the company hit them with unfair surcharges when they loaded lunch money onto school-sponsored payment cards used by their kids.

  • February 23, 2024

    Crypto Org, Bitcoin Miner Sue DOE Over Electricity Survey

    A Texas cryptocurrency industry association and a crypto-mining company have sued the U.S. Department of Energy in an attempt to block its plans to solicit mining companies' information about electricity consumption, alleging the department shirked the proper statutory process to collect the data.

  • February 23, 2024

    SVB's Cayman Unit Loses Ch. 15 Bid In NY

    A bankruptcy judge in New York has dismissed a petition from the Cayman Islands branch of Silicon Valley Bank that sought U.S. recognition of its Cayman insolvency proceedings, finding that it is not eligible to file a Chapter 15 petition.

  • February 23, 2024

    Kraken Wants SEC Suit Tossed, Says Tokens Aren't Securities

    Crypto exchange Kraken on Friday urged a California federal judge to permanently toss claims it failed to register its platform with the U.S. Securities and Exchange Commission since the regulator has not shown that the tokens on its platform are investment contracts.

  • February 23, 2024

    FDIC Slaps Small Tenn. Bank With Fintech Oversight Order

    The Federal Deposit Insurance Corp. on Friday announced a consent order with a small Tennessee bank that stresses the risks of the bank's relationships with third-party fintech companies.

  • February 23, 2024

    FTX Settles $324M Ch. 11 Suit Over European Deal For $33M

    Bankrupt cryptocurrency exchange FTX Trading Ltd. has asked a Delaware court to approve a plan to resolve a $323.5 million clawback action aimed at the co-founders of its European unit by selling the subsidiary back to the executives for $32.7 million.

  • February 23, 2024

    Binance Judge Says Greed Overtook Ethics, OKs $4.3B Plea

    A Washington federal judge signed off Friday on Binance's $4.3 billion plea deal on money laundering and bank fraud charges, saying from the bench that the cryptocurrency exchange's ethics violations could not be explained away by mere ignorance. 

  • February 23, 2024

    Feds' Crypto Focus Is No Longer On 'Whack-A-Mole' Cases

    The U.S. Department of Justice is no longer playing "whack-a-mole" in its crypto cases, and instead is taking on large-scale actors in the hopes of encouraging industrywide compliance, veteran crypto-focused prosecutors with the Manhattan U.S. attorney's office said Friday.

  • February 23, 2024

    OCC Names Acting Chief Counsel As Top Lawyer Nears Exit

    The Office of the Comptroller of the Currency said Friday that its chief counsel will soon depart, creating a vacancy that will be filled temporarily by an agency veteran until a permanent replacement is lined up.

  • February 23, 2024

    US Hits Russia With Largest Sanctions Since Ukraine Invasion

    The U.S. announced over 500 new sanctions on Russia Friday following the death of opposition leader Alexei Navalny, marking the largest number of sanctions since Moscow invaded Ukraine two years ago.

  • February 22, 2024

    Mastercard Faces Monopolization Claims Over Digital Tokens

    Mastercard has been stonewalling digital wallet startup OV Loop, refusing to provide needed tokens and thereby excluding OV Loop from the mobile payment services market, all part of Mastercard's effort to maintain its chokehold on payment processing and continue to charge supracompetitive fees on transactions, according to a suit filed Wednesday.

  • February 22, 2024

    BofA Card Holders Fight Uphill To Save Interest Charge Suit

    A California federal judge appeared inclined to toss a proposed class action claiming Bank of America illegally imposes excessive interest charges on variable-rate credit card holders, asking during a hearing Thursday if the plaintiff's counsel could "bolster" the complaint if the bank's motion to dismiss were granted.

  • February 22, 2024

    Crypto Co. DGC Blasts NY AG Settlement With Genesis Global

    The parent company of Genesis Global Holdco slammed a proposed settlement between the bankrupt lender and the New York attorney general on Wednesday, calling the agreement an attempt to "rig" the Chapter 11 plan confirmation to include larger payouts for certain creditors.

  • February 22, 2024

    BofA Pulling Fast One To Exit Gag Clause Suit, Customers Say

    Consumers suing Bank of America for allegedly trying to stifle consumer critics through clauses in its online service agreements have urged a California federal judge not to toss their suit, arguing the bank's dismissal arguments are without legal merit, factually incorrect and "intended to mislead."

  • February 22, 2024

    Comerica Brass Sued Over Benefit Cards Contract Oversight

    Executives and directors of financial services company Comerica were hit with a shareholder derivative suit alleging they failed to disclose the company was mismanaging a lucrative government benefits card program by allowing sensitive data to be handled at an international vendor's office.

  • February 22, 2024

    Vesttoo Liquidation Delayed For Closer Look At Creditor Deals

    A Delaware bankruptcy judge on Thursday postponed deciding the fate of Israeli financial technology firm Vesttoo Ltd.'s liquidation plan until early next week to give the remaining objector to the proposal time to review settlements the debtor reached with prior challengers.

  • February 22, 2024

    FTX Can Cash Out $500M Investment In AI Biz To Fund Ch. 11

    Insolvent cryptocurrency exchange FTX Trading Ltd. received a Delaware bankruptcy judge's approval Thursday to sell off its equity stake in an artificial intelligence technology company launched by former members of OpenAI that FTX purchased for $500 million in 2021.

  • February 21, 2024

    Texas Crypto Firm Sues SEC To Avoid 'Unlawful' Enforcement

    A Texas-based crypto firm has sued the U.S. Securities and Exchange Commission in a bid to convince a Texas federal court to find that digital assets traded on public exchanges are not securities and protect it from potential registration enforcement cases.

Expert Analysis

  • 3 Defense Takeaways From The Bankman-Fried Trial

    Author Photo

    FTX founder and former CEO Sam Bankman-Fried’s recent fraud conviction offers several key lessons for future white collar defendants, from the changing nature of cross-examination to the continued risks of taking the stand, say Jonathan Porter and Gregg Sofer at Husch Blackwell.

  • Series

    Children's Book Writing Makes Me A Better Lawyer

    Author Photo

    Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.

  • 3 FinCEN Fraud Alerts To Remember In 2024

    Author Photo

    With financial fraud now the largest source of illicit proceeds in the U.S., banks should review this year's key Financial Crimes Enforcement Network alerts to ensure their employees know the warning signs of three types of rising scams and understand how to effectively report suspicious activity, says Memrie Fortenberry at Jones Walker.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
    Author Photo

    Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.

  • 7 Enforcement Predictions For US Export Controls, Sanctions

    Author Photo

    Federal agencies' assertions of coming increases in export-control and sanctions-violations enforcement are not new, but recent improvements in resources and inter-agency cooperation allow for certain predictions about how the administration’s latest approach to enforcement may be applied going forward, say attorneys at Akin.

  • 8 Ways To Negotiate Improved Disgorgement Outcomes

    Author Photo

    The U.S. Securities and Exchange Commission's nearly $3.4 billion collected in disgorgements in 2023 shows that substantial disgorgement claims from regulators and law enforcement are the new norm, but corporations may be able to dramatically reduce what they owe by using eight strategies to argue for reduced net profit calculations, say experts at AlixPartners.

  • How The NY AG Leads Investigations In Civil Securities Fraud

    Author Photo

    Although investigating white collar fraud can put significant strain on state and local resources, the New York Attorney General's Office has continued to use its expansive statutory authority to take a leading role in bringing civil enforcement actions in highly complex financial matters, say Carrie Cohen and Nathan Reilly at MoFo.

  • 3 Types Of Evidence Excluded Pretrial In 2023 TM Cases

    Author Photo

    Dylan I. Scher at Quinn Emanuel reviews three areas of rulings on motions in limine from 2023 where parties successfully excluded evidence in a trademark dispute, for legal practitioners to consider for future cases.

  • Series

    ESG Around The World: Singapore

    Author Photo

    Singapore is keen to establish itself as a leading international financial center and a key player in the sustainable finance ecosystem, and key initiatives led by its government and other regulatory bodies have helped the Asian nation progress from its initially guarded attitude toward ESG investment and reporting, say attorneys at Morgan Lewis.

  • Series

    The Pop Culture Docket: Judge D'Emic On Moby Grape

    Author Photo

    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • What Banks Should Know About FDIC Assessment Rule

    Author Photo

    Max Bonici at Venable answers questions banking organizations may have about the Federal Deposit Insurance Corp.'s recent approval of a rule implementing a special assessment on banks to recoup costs associated with protecting uninsured depositors after the bank failures earlier this year, and highlights other considerations for uninsured deposits.

  • Series

    Performing Music Makes Me A Better Lawyer

    Author Photo

    The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.

  • Expect CFPB Flex Over Large Nonbank Payment Cos.

    Author Photo

    A recent enforcement action and a new rule proposal from the Consumer Financial Protection Bureau indicate a growing focus on the nonbank payment ecosystem, especially larger participants, in 2024, say Felix Shipkevich and Jessica Livingston at Shipkevich.

  • Breaking Down High Court's New Code Of Conduct

    Author Photo

    The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

  • High Court's Chevron Review May Be A Crypto Game-Changer

    Author Photo

    The outcome of the U.S. Supreme Court's review of the Chevron doctrine in its pending Loper v. Raimondo case will potentially usher in a paradigm shift in cryptocurrency regulation, challenging agency authority and raising hopes for a recalibrated approach that favors judicial interpretation, says Sylvia Favretto at Mysten Labs.

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 Fintech 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!