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Fintech
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October 09, 2025
BeFrugal Marketing Firm Says Exec Steered Clients To Rival
Affiliate marketing firm BeFrugal said in a lawsuit this week in Massachusetts state court that a senior vice president secretly co-founded a competing company, then steered major clients, including DirecTV and Samsung, to the new business.
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October 09, 2025
Investment Adviser Firm Sues Over Fraud Protection Patent
Investment adviser firm FinTegrity LLC has sued Deutsche Bank and a Czech cybersecurity company in Texas federal court with claims they are infringing a patent that covers fraud protection technology.
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October 09, 2025
Fintech Exec May Claim Double Jeopardy Amid Judge Shuffle
A former executive of payment processor Allied Wallet has filed a double jeopardy motion after the initial Massachusetts federal judge overseeing the fraud case recused himself, a second declared a mistrial and exited due to a family emergency, and a third flagged a potential conflict with a prosecutor.
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October 08, 2025
Big Banks' Gain Could Be Small Banks' Pain, Fed's Barr Says
Federal regulators' plans to ease capital rules and other supervisory safeguards at big banks may jeopardize financial stability and leave community banks to pick up the pieces if something goes wrong, Federal Reserve Gov. Michael Barr warned in a speech Wednesday.
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October 08, 2025
Kalshi Accused Of Violating SC, Federal Gambling Laws
Trading platforms Kalshi and Robinhood are being sued in South Carolina on allegations that they violate the state's strict anti-gambling laws by offering sports betting and operating a "prediction market" for state residents.
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October 08, 2025
Kalshi Fights Ohio Ban As Pa. Flags Sports Betting Loophole
The clash between state gaming regulators and federally regulated platforms offering sports wagers continued this week as Kalshi sued Ohio agencies over a directive to shut down its sports event contracts, while Pennsylvania's Gaming Control Board warned Congress that prediction markets broadly "create a backdoor to legalized sports betting."
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October 08, 2025
North Dakota To Issue Stablecoin Through State-Owned Bank
North Dakota on Wednesday announced plans to issue its own stable-value token through a partnership between fintech Fiserv Inc. and the state-owned Bank of North Dakota.
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October 08, 2025
Crypto Co. Sues Mercury Funds Over $270M Token Dispute
A blockchain startup sued several entities of a venture capital firm on Wednesday, claiming they are trying to turn a $100,000 investment in the blockchain company's early-stage digital asset venture into $270 million worth of tokens by exploiting a contract typo that mistakenly tied token rights to all their shares.
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October 08, 2025
AFL-CIO Opposes Draft Senate Crypto Bill
A major labor organization, the AFL-CIO, has come out against a Republican draft bill on crypto market structure, saying the draft lacks "meaningful safeguards."
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October 08, 2025
Trump Admin Cites Shutdown In Bid For CFPB Case Delay
Amid growing calls for the full D.C. Circuit to revisit a recent panel ruling that would allow mass layoffs at the Consumer Financial Protection Bureau, the Trump administration is asking for a pause in the case until after the government shutdown is over.
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October 07, 2025
Goldstein's $968K Border Cash Claim To Be Admitted At Trial
A Maryland federal jury will hear claims from prosecutors that SCOTUSblog publisher Tom Goldstein told Dulles International Airport border guards that the $968,000 in cash he brought into the country in 2018 had been gambling winnings, after a judge shot down his efforts to suppress his alleged statements Tuesday.
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October 07, 2025
4 Oral Argument Sessions Benefits Attys Should Watch In Oct.
The Second Circuit will hear from Teamsters looking to revive a proposed class action alleging mismanagement of a multiemployer pension plan, while Alcoa will ask the Seventh Circuit to overturn a ruling requiring the aluminum maker to cover union retirees' healthcare for life. Here, Law360 looks at four arguments that benefits attorneys should have on their radar this month.
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October 07, 2025
Apple Seeks To Toss IPhone, Watch Buyers' Antitrust Suits
Apple has asked a New Jersey federal court to toss multidistrict antitrust litigation brought by iPhone and Apple Watch buyers, arguing that while they "try in vain to invent" theories about how Apple charges monopoly prices the inflation-adjusted price of the latest iPhone is nearly the same as the first model.
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October 07, 2025
Feds Seek 6 Years For Ex-Frank Exec's 'Brazen' $175M Con
Prosecutors asked a New York federal judge Monday to sentence a former executive at financial aid startup Frank to six years in prison for helping its founder Charlie Javice trick JPMorgan Chase & Co. into buying the company for $175 million, saying he deserves no leniency for the "brazen" fraud.
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October 07, 2025
NYSE Parent Invests $2B In Polymarket Amid Market Scrutiny
The parent company of the New York Stock Exchange said Tuesday that it will infuse up to $2 billion into Polymarket, which has an $8 billion valuation, at a time when prediction markets in the United States are increasing in popularity but facing increased scrutiny.
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October 07, 2025
SEC's Atkins Wants To 'Future-Proof' Deregulatory Agenda
U.S. Securities and Exchange Commission Chairman Paul Atkins said Tuesday that he hopes that moving quickly to adopt new rules deregulating the public and private markets will "future-proof" his agenda against potential tampering by succeeding presidential administrations.
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October 07, 2025
NASCAR Wins Fight With LGBCoin Over Racing Deal Approval
A Miami jury returned a defense verdict late Monday in favor of NASCAR in a $76 million suit by the LetsGoBrandon.com Foundation accusing the league of destroying the value of its cryptocurrency LGBCoin after it revoked approval of sponsorship of a racing team.
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October 07, 2025
FDIC, OCC Rule Proposals Seek To Rein In Bank Supervision
Federal banking regulators on Tuesday unveiled a pair of proposed curbs on their supervision programs that would formally ban the use of reputation risk as an exam factor and constrain what examiners can call out for criticism as an "unsafe or unsound" practice.
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October 06, 2025
OCC To Ease Exams, Simplify Licensing For Smaller Banks
The Office of the Comptroller of the Currency moved Monday to ease its oversight of banks with under $30 billion in assets, rolling out policy changes that include cutting back on their exam requirements and potentially expanding their access to expedited licensing options.
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October 06, 2025
Baltimore Sues Fintech Over Digital Payday Lending Scheme
The city of Baltimore has sued MoneyLion in Maryland state court, accusing the fintech company of violating local consumer protection laws by disguising high-interest payday loans as "Instacash Advances" and trapping low-income residents in cycles of debt through excessive fees and "tips."
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October 06, 2025
Jurisdiction Miss Sinks Novel Crypto Suit Claim In Chancery
In a first-of-its-kind decision, Delaware's Court of Chancery on Monday upheld state court "In rem" physical jurisdiction over $3.7 million worth of cryptocurrency held by a Delaware limited liability company after it was allegedly pilfered from an online casino in the Dutch Caribbean island nation of Curacao.
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October 06, 2025
Utah Bank Is No 'Dummy' Lender, OppFi Says In Calif. Fight
Opportunity Financial is looking to close the book on California's banking regulator's claims that it illegally evaded the state's interest rate caps through a sham lending partnership with an out-of-state bank, arguing in a summary judgment bid that its Utah partner, FinWise Bank, is the lawful lender and therefore exempt from California's rate limits.
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October 06, 2025
Suit Aims To 'Claw Back' Kalshi's Ga. Predictions Proceeds
Kalshi Inc. and Robinhood are among a slew of defendants who have been sued in Georgia over allegations that the companies' so-called prediction markets are sidestepping the Peach State's ban on gambling, adding to a growing roster of litigation stemming from the companies' business practices.
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October 06, 2025
Coinbase Seeks OCC Charter To Expand Custody Business
Crypto exchange Coinbase is seeking a national trust company charter from the Office of the Comptroller of the Currency to expand its custody business and related services, joining a growing number of digital asset firms pursuing federal bank charters.
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October 06, 2025
Justices Won't Hear Coinbase's Calif. Arbitration Challenge
The U.S. Supreme Court on Monday declined to take up a case from Coinbase over whether federal arbitration laws preempt a California high court precedent that enabled a group of users to keep the crypto exchange in court over claims it misrepresented the security of its platform.
Expert Analysis
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Rebuttal
BigLaw Settlements Should Not Spur Ethics Deregulation
A recent Law360 op-ed argued that loosening law firm funding restrictions would make BigLaw firms less inclined to settle with the Trump administration, but deregulating legal financing ethics may well prove to be not merely ineffective, but counterproductive, says Laurel Kilgour at the American Economic Liberties Project.
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5 Ways Lawyers Can Earn Back The Public's Trust
Amid salacious headlines about lawyers behaving badly and recent polls showing the public’s increasingly unfavorable view of attorneys, we must make meaningful changes to our culture to rebuild trust in the legal system, says Carl Taylor at Carl Taylor Law.
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Series
Hiking Makes Me A Better Lawyer
On the trail, I have thought often about the parallels between hiking and high-stakes patent litigation, and why strategizing, preparation, perseverance and joy are important skills for success in both endeavors, says Barbara Fiacco at Foley Hoag.
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White House Report Strikes An Optimistic Note On Crypto
Taking seriously President Donald Trump's pledge to adopt a pro-innovation mindset toward digital assets and blockchain technologies, a recent benchmark White House report on crypto provides a comprehensive regulatory framework that takes into account the products' novel characteristics within the high-tech ecosystem, say attorneys at Davis Wright.
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Series
Law School's Missed Lessons: Negotiation Skills
I took one negotiation course in law school, but most of the techniques I rely on today I learned in practice, where I've discovered that the process is less about tricks or tactics, and more about clarity, preparation and communication, says Grant Schrantz at Haug Barron.
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Opinion
Bar Exam Reform Must Expand Beyond A Single Updated Test
Recently released information about the National Conference of Bar Examiners’ new NextGen Uniform Bar Exam highlights why a single test is not ideal for measuring newly licensed lawyers’ competency, demonstrating the need for collaborative development, implementation and reform processes, says Gregory Bordelon at Suffolk University.
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A Simple Way Courts Can Help Attys Avoid AI Hallucinations
As attorneys increasingly rely on generative artificial intelligence for legal research, courts should consider expanding online quality control programs to flag potential hallucinations — permitting counsel to correct mistakes and sparing judges the burden of imposing sanctions, say attorneys at Lankler Siffert & Wohl and Connors.
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Surveying The Changing Overdraft Fee Landscape
Despite recent federal moves that undermine consumer overdraft fee protections, last year’s increase in fee charges suggests banks will face continued scrutiny via litigation and state regulation, says Amanda Kurzendoerfer at Bates White.
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The Road Ahead For Digital Assets Looks Promising
With new legislation expected to accelerate the adoption of blockchain technology, and with regulators taking a markedly more permissive approach to digital assets, the convergence of traditional finance and decentralized finance is closer than ever, say attorneys at Dechert.
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How Securities Defendants Might Use New Wire Fraud Ruling
Though the Second Circuit’s recent U.S. v. Chastain decision — vacating the conviction of an ex-OpenSea staffer — involved the wire fraud statute, insider trading defendants might attempt to import the ruling’s reasoning into the securities realm, says Jonathan Richman at Brown Rudnick.
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Series
Creating Botanical Art Makes Me A Better Lawyer
Pressing and framing plants that I grow has shown me that pursuing an endeavor that brings you joy can lead to surprising benefits for a legal career, including mental clarity, perspective and even a bit of humility, says Douglas Selph at Morris Manning.
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Compliance Is A New Competitive Edge For Mortgage Lenders
So far, 2025 has introduced state and federal regulatory turbulence that is pressuring mortgage lenders to reevaluate the balance between competitive and compliant employee and customer recruiting practices, necessitating a compliance recalibration that prioritizes five key strategies, say attorneys at Mitchell Sandler.
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Even As States Step Up, They Can't Fully Fill CFPB's Shoes
The Trump administration's efforts to scale down the Consumer Financial Protection Bureau have prompted calls for state regulators to pick up the slack, but there are also important limitations on states' ability to fill the gap left by a mostly dormant CFPB, say attorneys at Covington.
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Opinion
The Legal Education Status Quo Is No Longer Tenable
As underscored by the fallout from California’s February bar exam, legal education and licensure are tethered to outdated systems, and the industry must implement several key reforms to remain relevant and responsive to 21st century legal needs, says Matthew Nehmer at The Colleges of Law.
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'Pig Butchering' Seizure Is A Milestone In Crypto Crime Fight
The U.S.' recent seizure of $225 million in crypto funds in a massive "pig butchering" scheme highlights the transformative impact of blockchain analysis in law enforcement, and the increasing necessity of collaboration between law enforcement agencies, cryptocurrency exchanges and stablecoin issuers, says David Zaslowsky at Baker McKenzie.