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Fintech
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									October 23, 2025
									Ex-SVB Top Brass Can't Ditch FDIC Suit Over 2023 CollapseSilicon Valley Bank's former CEO and several other past members of the bank's top brass must face a suit from the Federal Deposit Insurance Corp. accusing them of mismanagement that led to the bank's costly 2023 failure, a California federal judge has ruled. 
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									October 23, 2025
									FINRA Announces Probe Of Broker-Dealers' China WorkThe Financial Industry Regulatory Authority notified its members on Thursday that it is investigating broker-dealers that have helped small companies based out of China and other foreign jurisdictions to go public, signaling that it is looking for possible stock manipulation tied to the firms' work. 
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									October 23, 2025
									Lending App EarnIn Users Must Arbitrate NC Class ClaimsUsers of payday loan app EarnIn must arbitrate claims that the company's cash advance product violates North Carolina's consumer protection laws, a federal judge ruled, finding that the users clearly agreed to arbitration when they signed up for the app. 
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									October 23, 2025
									Full 5th Circ. Asked To Rehear Texas Bankers' OCC DisputeTwo former Texas bankers have asked the full Fifth Circuit to revive their constitutional challenge to an in-house Office of the Comptroller of the Currency enforcement case, arguing that the appellate panel's decision to reject their appeal wrongly stripped them of their right to a jury trial and handed banking agencies "unlimited discretion" to prosecute old misconduct. 
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									October 23, 2025
									Paychex Beats Privacy Suit Over 2024 Data Breach, For NowPaychex defeated, for now, a suit filed by a woman who alleged it allowed hackers to access her bank accounts by failing to keep her personal information safe from a data breach, after a Pennsylvania federal judge said Wednesday her complaint "stops short of saying how" Paychex's conduct led to her injury. 
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									October 23, 2025
									Wilson Sonsini Adds NY Corp. Finance Atty From DentonsWilson Sonsini Goodrich & Rosati PC announced Thursday it has hired a New York-based attorney, who is experienced with working on financial technology and consumer finance matters, following his nearly 17-year tenure at Dentons, where he most recently served as the lead partner for its U.S. distributed ledger technology group. 
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									October 23, 2025
									Warner Bros. Rejects $60B Paramount Bid, And More RumorsWarner Bros. Discovery's board reportedly rejected a nearly $60 billion offer from Paramount Skydance, but a deal could still materialize after Warner Bros.' board launched a formal review of strategic alternatives. Among other recent reports, Anthropic and Google are said to be in talks for a potential multibillion-dollar cloud deal, and the private equity owner of Octus is preparing for a sale that could value the financial news company at more than $4 billion. 
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									October 23, 2025
									2 AI-Focused SPACs Plan To Raise Combined $575M In IPOsTwo artificial intelligence-focused special purpose acquisition companies have filed plans with the U.S. Securities and Exchange Commission to raise up to a combined $575 million in their initial public offerings. 
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									October 23, 2025
									Trump Pardons Convicted Binance Founder Changpeng ZhaoPresident Donald Trump has pardoned the convicted Binance founder Changpeng Zhao, a move that could open the door for Zhao to return to Binance if he so chooses, and for the crypto exchange to renegotiate the terms of its own plea deal, experts said Thursday. 
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									October 22, 2025
									Trump Admin Battles DC Circ. Rehearing Bid In CFPB CaseThe Trump administration has urged the full D.C. Circuit to keep in place a split panel's ruling that would allow mass layoffs at the Consumer Financial Protection Bureau, dismissing a union-led bid for full-court review as one that's built on a misguided "straw man" attack. 
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									October 22, 2025
									Fintechs, Banks Clash Over Open Banking Rule RevisionsTrade groups representing banks and fintechs clashed in comment letters over the Consumer Financial Protection Bureau's plans to revise its data-sharing mandate, as banks urged the agency to scrap much of the earlier rule for favoring fintechs, while the tech upstarts argued many of the provisions remain necessary to bust banks' allegedly anticompetitive behavior. 
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									October 22, 2025
									Experian Can't Slash CFPB Suit Over Tolling Deal 'Mistake'A California federal judge on Wednesday refused to toss part of a Consumer Financial Protection Bureau suit against Experian's U.S. operating subsidiary, saying the credit bureau's statute-of-limitations defense "defies logic" to suggest Experian Information Solutions wasn't bound by a tolling deal its own lawyers helped negotiate. 
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									October 22, 2025
									Banks Want Ill. Fee Law Block Extended To Card NetworksBanking industry groups urged an Illinois federal judge Wednesday to permanently block an Illinois law that bans swipe fees on tax and tip portions of payment card transactions, arguing she has already correctly held that national banks are federally preempted from its reach, and that the court should extend that relief to card networks and others involved in the payment process. 
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									October 22, 2025
									Crypto Exchange Fined $126.4M For AML Violations In CanadaA Canadian financial regulator on Wednesday ordered crypto exchange Cryptomus to pay a 177 million Canadian dollar ($126.4 million) penalty to resolve anti-money laundering compliance claims, many of which concern transactions connected to sex trafficking and fraud. 
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									October 22, 2025
									Kroll Wants FTX Hack Suit Tossed, Arbitrated Or MovedBankruptcy claims agent Kroll Restructuring Administration LLC has asked a Texas federal judge to transfer or sink a proposed class action over a data breach that affected creditors of FTX Trading Ltd., BlockFi Inc. and Genesis Global Holdco LLC, pointing to alleged standing issues and an online arbitration agreement. 
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									October 22, 2025
									Crypto Firm Wins Freeze Of $8M In Allegedly Stolen CryptoA D.C. federal judge extended an order freezing the digital wallets of two D.C.-area men Wednesday after a Miami-based crypto trading firm claimed that the men used legitimate-looking business fronts to con the firm out of more than $8 million in a fraudulent bitcoin trade. 
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									October 22, 2025
									Presidential Firing Limits Fight Builds At High CourtThe ousted U.S. Merit Systems Protection Board chair has encouraged the U.S. Supreme Court to include a caveat for "legislative courts" if it overturns precedent that empowers Congress to limit the president's authority to fire certain agency officials, but opponents of independent agencies want a clean break from the status quo. 
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									October 22, 2025
									3 Firms Guide DraftKings Deal To Enter Prediction MarketsBetting platform DraftKings has entered the prediction markets with its acquisition of Railbird Technologies Inc., but it will not yet offer prediction wagering on sporting events, instead initially focusing on finance, culture and entertainment, according to a company announcement. 
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									October 22, 2025
									Baker Donelson Hires CFPB Veteran In DCBaker Donelson Bearman Caldwell & Berkowitz PC has hired for its Washington, D.C., team a 12-year veteran of the Consumer Financial Protection Bureau who brings more than two decades of legal experience working on financial services matters. 
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									October 22, 2025
									Fake Coinbase Call Center Tricked Customers, Mass. AG SaysMassachusetts' attorney general is seeking to freeze cryptocurrency funds allegedly stolen through a sophisticated "smishing" scheme in which fraudsters stood up a realistic-sounding call center posing as customer service for Coinbase to trick account holders, according to a complaint filed Wednesday. 
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									October 22, 2025
									Crypto Exchange FalconX Snags ETP Provider 21sharesDigital asset brokerage FalconX on Wednesday unveiled plans to buy cryptocurrency exchange-traded funds and products provider 21shares, a move that comes just over a month after the U.S. Securities and Exchange Commission eased listing standards for crypto ETPs. 
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									October 22, 2025
									NHL Embraces Prediction Market With Kalshi, Polymarket DealsThe National Hockey League on Wednesday announced it had entered "landmark" multiyear agreements with Polymarket and Kalshi following a recent surge in the popularity of prediction market platforms, which have also faced several recent legal challenges. 
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									October 22, 2025
									16-Year CFTC Atty Joins Orrick's DC Finance Team As PartnerA veteran Commodity Futures Trading Commission lawyer who most recently served as an associate director has joined Orrick Herrington & Sutcliffe LLP in Washington, D.C., as former lawyers from the agency move to new roles months after a round of layoffs. 
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									October 21, 2025
									Fed's Waller Floats 'Skinny' Master Accounts For FintechsFederal Reserve Gov. Christopher Waller on Tuesday proposed allowing financial technology firms to connect to the central bank's payment rails through specialized, "skinny" master accounts, a move he said could support payment innovation while keeping risks to the Fed in check. 
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									October 21, 2025
									Citadel Securities Asks 11th Circ. To Scope SEC's IEX OrderCitadel Securities has petitioned the Eleventh Circuit to review the U.S. Securities and Exchange Commission's recent approval of a new options exchange called IEX Options, following a comment letter the broker-dealer sent to the regulator stating that IEX "seeks approval for an unprecedented quote-canceling scheme in the U.S. options market." 
Expert Analysis
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								Series Adapting To Private Practice: 3 Tips On Finding The Right Job  After 23 years as a state and federal prosecutor, when I contemplated moving to a law firm, practicing solo or going in-house, I found there's a critical first step — deep self-reflection on what you truly want to do and where your strengths lie, says Rachael Jones at McKool Smith. 
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								Strategies For Defending Banks In Elder Abuse Cases  Several recent cases demonstrate that banks have plenty of tools to defend against claims they were complicit in financial abuse of older adults, but financial institutions should also continue to educate customers about third-party scams before they happen, say attorneys at Troutman. 
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								A Look At Project Crypto's Plans For Digital Asset Regulation  U.S. Securities and Exchange Commission Chairman Paul Atkins' recent announcement of Project Crypto, an agencywide initiative to modernize federal securities regulations, signals a significant shift toward a more flexible regulatory framework that would shape the future of the U.S. digital asset market, say attorneys at WilmerHale. 
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								Series Painting Makes Me A Better Lawyer  Painting trains me to see both the fine detail and the whole composition at once, enabling me to identify friction points while keeping sight of a client's bigger vision, but the most significant lesson I've brought to my legal work has been the value of originality, says Jana Gouchev at Gouchev Law. 
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								NY AML Rules Get Crypto Rebrand: What It Means For Banks  A recent letter from the New York State Department of Financial Services outlining how banks can use blockchain analytics in anti-money laundering efforts is a reminder that crypto activity is not exempted from banks' role in keeping the financial system safe, says Katherine Lemire at Lankler Siffert. 
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								5 Evolving Marketing Risks That Finance Cos. Should Watch  Financial services providers should beware several areas where consumer protection regulators are broadening their scrutiny of modern marketing practices, such as the use of influencer testimonials or advertisements touting artificial intelligence-powered products, so they can better adapt to changing expectations for compliance, say attorneys at Hinshaw. 
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								CFTC, SEC Joint Statement Highlights New Unity On Crypto  The U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission's recent joint statement announcing a cross-agency initiative enabling certain spot crypto-asset products to trade on regulated exchanges is the earliest and most visible instance of interagency cooperation on crypto regulation, say attorneys at Morgan Lewis. 
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								Regulatory Uncertainties Loom As Fed Ends Crypto Oversight  The Federal Reserve Bank's recently ended crypto supervisory program headlines other recent federal actions from Congress, the White House and relevant agencies that may complicate financial institutions' digital-asset use and attendant compliance strategies, say attorneys at Buchalter. 
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								Better Crypto Insurance Is Attainable Amid Regulatory Shifts  With regulatory clarity improving and insurance carriers taking an increasingly constructive approach, crypto industry participants can improve their insurance coverage and pricing if finance, legal and compliance teams take specific steps, say Walker Newell and Jacob Sawyer at Woodruff-Sawyer. 
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								Protecting Sensitive Court Filings After Recent Cyber Breach  In the wake of a recent cyberattack on federal courts' Case Management/Electronic Case Files system, civil litigants should consider seeking enhanced protections for sensitive materials filed under seal to mitigate the risk of unauthorized exposure, say attorneys at Redgrave. 
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								Series NC Banking Brief: All The Notable Legal Updates In Q3-(1).jpg)  There were several impactful changes to the financial services landscape in North Carolina in the third quarter of the year, including statutory updates, enforcement developments from Office of the Commissioner of Banks, and notable mergers, acquisitions and branch expansions, say attorneys at Moore & Van Allen. 
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								Series NY Banking Brief: All The Notable Legal Updates In Q3  Of note in the third quarter of the year, New York state regulators moved forward on their agendas to limit abuse of electronic banking, including via a settlement with stablecoin issuer Paxos and a lawsuit against Zelle alleging insufficient security measures, says Chris Bonner at Barclay Damon. 
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								Series Judging Figure Skating Makes Me A Better Lawyer  Judging figure skating competitions helps me hone the focus, decisiveness and ability to process complex real-time information I need in court, but more importantly, it makes me reengage with a community and my identity outside of law, which, paradoxically, always brings me back to work feeling restored, says Megan Raymond at Groombridge Wu. 
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								Series Calif. Banking Brief: All The Notable Legal Updates In Q3  The third quarter of 2025 brought legislative changes to state money transmission certification requirements and securities law obligations, as well as high-profile accounting and anti-money laundering compliance enforcement actions by the Department of Financial Protection and Innovation, say attorneys at Ropes & Gray. 
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								What Ethics Rules Say On Atty Discipline For Online Speech  Though law firms are free to discipline employees for their online commentary about Charlie Kirk or other social media activity, saying crude or insensitive things on the internet generally doesn’t subject attorneys to professional discipline under the Model Rules of Professional Conduct, says Stacie H. Rosenzweig at Halling & Cayo.