Fintech

  • May 06, 2025

    CFPB Abandons Enforcement Of Buy Now, Pay Later Rule

    The Consumer Financial Protection Bureau announced Tuesday that it will not prioritize enforcement actions taken on buy now, pay later products, adding to the list of positions the agency is reviewing or rolling back under the organization's new leadership.

  • May 06, 2025

    Treasury Bans Burmese Militia Group From US Business Deals

    The U.S. Department of the Treasury sanctioned Burmese militia group the Karen National Army, its leader Saw Chit Thu and his sons Saw Htoo Eh Moo and Saw Chit Chit, banning them from doing business with any American entity or individuals.

  • May 06, 2025

    State Officials Say CFPB Is Holding Up $4.2M Redress Checks

    Officials from a dozen states have accused the Consumer Financial Protection Bureau of ghosting them on a $4.2 million redress plan for former students of a shuttered sales-training firm, saying the agency has not cut any checks and is not answering them.

  • May 06, 2025

    A&O Shearman Atty To Lead Baker McKenzie Fintech Team

    Baker McKenzie announced Tuesday it had tapped an Allen Overy Shearman Sterling attorney, one of two lawyers it was bringing aboard from the London-based firm, to serve as the new chair of its North American fintech and payments practice.

  • May 06, 2025

    SafeMoon CEO Tells Jury Founder To Blame For Investor Fib

    Counsel for a U.S. Army veteran in Utah who served as CEO of SafeMoon told a Brooklyn, New York, federal jury Tuesday that he did not conspire to loot the crypto company's assets, implying its fugitive founder is to blame for a key misrepresentation.

  • May 06, 2025

    Senate Panel Advances Bowman For Fed Supervision Chief

    The U.S. Senate Banking Committee on Tuesday endorsed President Donald Trump's selection of Federal Reserve Gov. Michelle Bowman to be the top bank regulatory official at the central bank, advancing her as part of his latest slate of financial nominees.

  • May 05, 2025

    Long Island Judge Installed As Interim EDNY US Atty

    Long Island state court Judge Joseph Nocella Jr. was sworn in Monday as the interim U.S. attorney for the Eastern District of New York, a post he will hold for 120 days, or until the U.S. Senate confirms his nomination by President Donald Trump, the attorney's office announced.

  • May 05, 2025

    Debt Agency Agrees To $2.6M Deal To End Data Breach Claims

    Debt collection agency and buyer NCB Management Services Inc. has agreed to pay $2.625 million to resolve consolidated proposed class action claims it failed to protect more than a million consumers whose personal information was compromised when it was hit with a companywide ransomware attack.

  • May 05, 2025

    CFTC Drops DC Circ. Appeal Over Kalshi's Election Contracts

    The U.S. Commodity Futures Trading Commission moved Monday to voluntarily drop its D.C. Circuit challenge over trading platform Kalshi's election contracts, which allow users to trade on the outcome of U.S. elections.

  • May 05, 2025

    House GOP Eyes Expanded CFTC Oversight Of Crypto

    House Republicans indicated Monday that they want the U.S. Commodity Futures Trading Commission to play a key role in overseeing digital asset markets, a draft proposal that followed weekend pushback from Democratic senators opposed to other crypto legislation targeting so-called stablecoins.

  • May 05, 2025

    Skadden-Led Crypto Platform EToro Eyes $480M IPO

    Crypto-friendly trading platform eToro Group Ltd. on Monday launched plans for an initial public offering that could raise $480 million for the company and its shareholders, marking another sign that the IPO market's recent cold spell is beginning to thaw.

  • May 05, 2025

    Crypto Exec Says Feds Failed To Disclose Key Evidence

    An indicted co-founder of crypto mixing service Samourai Wallet told a New York federal judge on Monday about prosecutors' alleged "shocking" failure to disclose evidence that calls into question the criminal charges brought against him and asked for a hearing into the alleged slip-up.

  • May 05, 2025

    Celsius Exec Decries 'Venom-Laced' Gov't Sentencing Memo

    The founder of defunct cryptocurrency platform Celsius told a Manhattan federal judge that a sentencing memorandum in which prosecutors asked for a 20-year prison sentence was a "venom-laced" attempt to paint him as a "fiend" and ignore his prior law-abiding business ventures and status as a Soviet Jewish refugee.

  • May 05, 2025

    Crypto Miner Objects To Celsius Sanctions Try In Ch. 11 Case

    Crypto mining company Mawson Infrastructure Group Inc. asked a Delaware bankruptcy judge to throw out an attempt by Celsius Network to impose sanctions on Mawson in the company's involuntary Chapter 11 case, saying its failed bid to extend an automatic stay to its subsidiaries was performed in good faith.

  • May 05, 2025

    Colo. Pastor Claims No Ill Intent In Alleged Crypto Scheme

    A Colorado pastor accused of inducing $3.4 million in investments into a worthless cryptocurrency and pocketing more than a third of those investor funds told a state court Monday that the project didn't go as planned, but he and his wife had "no intent to evade the law."

  • May 05, 2025

    High Court Won't Consider Reviving $13M Patent Verdict

    The U.S. Supreme Court on Monday said it would not review a question of vicarious liability prompted by the Federal Circuit erasing CloudofChange LLC's $13 million infringement trial win over NCR Corp. 

  • May 02, 2025

    Dems Urge Fed To Rethink $35B Capital One-Discover Deal

    Democratic Sen. Elizabeth Warren of Massachusetts and Rep. Maxine Waters, D-Calif., have formally petitioned the Federal Reserve to pause and revisit its approval of Capital One's $35 billion acquisition of Discover, saying the central bank's analysis of the transaction had glaring gaps that make its conclusion legally unsustainable.

  • May 02, 2025

    Gores Group's Latest SPAC Leads 3 IPOs Totaling $792M

    Gores Holdings X Inc., the latest of several special purpose acquisition companies formed by private equity firm The Gores Group, began trading Friday after pricing an upsized $312 million IPO, the largest of three new SPAC listings totaling $792 million.

  • May 02, 2025

    Judge Tosses Claims Uphold Misled Users Of Crypto Product

    Uphold HQ Inc. beat a suit from users Friday when a New York federal judge ruled the digital money platform didn't mislead users about the safety of a now-defunct partner's crypto interest product its platform once supported.

  • May 02, 2025

    With Lowell's New Firm, San Juan Bank Appeals NY Fed Loss

    Abbe Lowell — the high-profile litigator who on Friday announced he will launch a boutique firm aiming to aid with "politicized investigations" after exiting the partnership of Winston & Strawn LLP — will help handle a Puerto Rico bank's appeal of an order affirming the closure of its Federal Reserve master account by federal regulators.

  • May 02, 2025

    More Crypto Easing For Banks Is 'Critical,' Trade Groups Say

    A coalition of Wall Street trade groups urged the executive branch to continue removing "barriers" limiting financial institutions from engaging with digital assets in a joint letter calling for uniform risk-management expectations over processes that require firms to clear their crypto activities with banking regulators ahead of time.

  • May 02, 2025

    Money Laundering, Tax Charges Nixed Vs. Crypto Operator

    An Indiana federal judge dismissed the U.S. government's cases against a man accused of operating an unlicensed money transmitting business, laundering proceeds through cryptocurrency transactions and failing to file tax returns after finding his business was not subject to registration requirements, as the government had maintained.

  • May 02, 2025

    Frank Execs Trade Blame In Dueling Bids For New Trial

    Frank founder Charlie Javice and former executive Olivier Amar each requested new trials on charges alleging they tricked JPMorgan Chase & Co. into buying the student aid assistance startup for $175 million, with Javice asserting that her co-defendant acted as a second prosecutor and Amar saying he was unfairly lumped into what the government called a criminal scheme.

  • May 01, 2025

    NY Judge Says He May Nix $110M Mango Markets Fraud Verdict

    A Manhattan federal judge on Thursday suggested that he may grant all or part of a crypto trader's motion for acquittal or a new trial over allegations that he defrauded Mango Markets investors out of $110 million by manipulating the price of the exchange's native token, in a ruling that would likely center on issues involving mixed swaps or venue.

  • May 01, 2025

    Ex-Credit Union Regulator Says Suing Trump 'Had To Be Done'

    One of two Democrats suing President Donald Trump for unlawful termination from the National Credit Union Administration warned Thursday of damaging potential ripple effects if their firings are allowed to stand, casting their decision to litigate as daunting but necessary.

Expert Analysis

  • Reviewing Trump Admin's Rapid Pro-Crypto Regulatory Pivot

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    The digital asset industry has received a boost from the explicitly pro-crypto Trump administration, which in its first few months reversed Biden-era rules and installed industry proponents at regulatory agencies, marking one of the biggest regulatory about-faces by a government in recent memory, says Robert Appleton at Olshan Frome.

  • Top 3 Litigation Finance Deal-Killers, And How To Avoid Them

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    Like all transactions, litigation finance deals can sometimes collapse, but understanding the most common reasons for failure, including a lack of trust or a misunderstanding of deal terms, can help both parties avoid problems, say Rebecca Berrebi at Avenue 33 and Boris Ziser at Schulte Roth.

  • A 2-Step System For Choosing A Digital Asset Reporting Path

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    Under the Internal Revenue Service's new digital asset reporting regulation, each type of asset may have three potential reporting destinations, so a detailed testing framework can help to determine the appropriate path, says Keval Sonecha at Sonecha & Amlani.

  • How Attys Can Use A Therapy Model To Help Triggered Clients

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    Attorneys can lean on key principles from a psychotherapeutic paradigm known as the "Internal Family Systems" model to help manage triggered clients and get settlement negotiations back on track, says Jennifer Gibbs at Zelle.

  • A Tale Of Two Admins: Parsing 1st Half Of SEC's FY 2025

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    The first half of the U.S. Securities and Exchange Commission's fiscal year 2025, which ended March 31, was unusually eventful, marked by a flurry of enforcement actions in the last three months of former Chair Gary Gensler's tenure and a prompt pivot after Inauguration Day, say attorneys at Jones Day.

  • How Banks Can Manage Risk As AI Adoption Expands

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    Following new, supportive comments from financial regulatory leaders about the use of artificial intelligence in the industry, banks may move toward wider, less-tentative adoption of the technology, but will also need to deploy important risk management measures, say attorneys at WilmerHale.

  • What Banks Must Do To Attract Gen Z Customers

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    The young adults of Generation Z bank differently, so financial institutions must engage appropriately if they wish to attract this key population, including by leveraging savvy marketing, well-designed online interfaces and top-notch customer service, says Madeline Thieschafer at Fredrikson & Byron.

  • What Bank Regulator Consolidation Would Mean For Industry

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    Speculation over the Trump administration’s potential plans to consolidate financial service regulators is intensifying uncertainty, but no matter the outcome for the Consumer Financial Protection Bureau, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency, the industry should expect continued policy changes, say attorneys at Foley & Lardner.

  • Getting Ahead Of The SEC's Continued Focus On Cyber, AI

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    The U.S. Securities and Exchange Commission is showing it will continue to scrutinize actions involving cybersecurity and artificial intelligence, but there are proactive measures that companies and financial institutions can take to avoid regulatory scrutiny going forward, say attorneys at Morgan Lewis.

  • 3 Steps For In-House Counsel To Assess Litigation Claims

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    Before a potential economic downturn, in-house attorneys should investigate whether their company is sitting on hidden litigation claims that could unlock large recoveries to help the business withstand tough times, says Will Burgess at Hilgers Graben.

  • Breaking Down Ill. Bellwether Case For Bank Preemption

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    The banking industry's pending lawsuit against the state of Illinois stands to permanently enjoin state regulation of bank card processing, as well as clarify the outstanding and consequential issue of whether conflict preemption continues to cover third parties in certain circumstances, says Tom Witherspoon at Stinson.

  • A Primer On The Trading And Clearing Of Perpetual Contracts

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    The U.S. Commodity Futures Trading Commission recently released a request for comment on the trading and clearing of perpetual-style derivatives, most common in the cryptocurrency market, necessitating a deep look at how these contracts operate and their associated risks, say attorneys at Moore & Van Allen.

  • Series

    Teaching College Students Makes Me A Better Lawyer

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    Serving as an adjunct college professor has taught me the importance of building rapport, communicating effectively, and persuading individuals to critically analyze the difference between what they think and what they know — principles that have helped to improve my practice of law, says Sheria Clarke at Nelson Mullins.

  • Planning For Open Banking Despite CFPB Uncertainty

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    Though pending litigation or new Consumer Financial Protection Bureau leadership may reshape the Biden-era regulation governing access to consumer financial data, companies can use this uncertain period to take practical steps toward an open banking strategy that will work regardless of the rule’s ultimate form, says Adam Maarec at McGlinchey Stafford.

  • Crunching The Numbers Of Trump SEC's 1st 100 Days

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    During the first 100 days of the second Trump administration, the U.S. Securities and Exchange Commission brought significantly fewer stand-alone enforcement actions than at the beginning of the Biden and the first Trump administrations, with every one of the federal court complaints including allegations of fraudulent conduct, say attorneys at Dentons.

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