Fintech

  • October 15, 2021

    5th Circ. Says CFPB Payday Loan Regs Must Wait For Appeal

    The Fifth Circuit has stepped in to extend a stay on Consumer Financial Protection Bureau payday lending regulations that are being challenged by two industry trade groups, giving small-dollar lenders a reprieve from an expected June compliance deadline.

  • October 15, 2021

    Rosen Law Firm To Lead Class In Robinhood MDL

    A Florida federal judge appointed the Rosen Law Firm PA on Friday to lead multidistrict litigation that alleges stock-trading app Robinhood caused more than $10 billion in market capitalization losses after its customers were hit in January with trading restrictions on certain stocks.

  • October 15, 2021

    Treasury Issues Sanctions Compliance Guide Aimed At Crypto

    The Office of Foreign Assets Control on Friday published a compliance guide for digital asset companies as part of its ongoing efforts to crack down on ransomware attacks and the use of cryptocurrencies to avoid sanctions.

  • October 15, 2021

    British Asset Manager Wins Signoff For Bitcoin ETF

    Jacobi Asset Management said Friday it received approval from Guernsey regulators to launch a bitcoin-based exchange traded fund, which would be among the first such ETFs in the world and comes before any American counterpart has hit the market.

  • October 15, 2021

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen another Italian region in a lawsuit over derivatives contracts, the U.K.'s high-speed railway project facing a fresh legal challenge, and a British chain of discount retail stores suing Shoosmiths. Here, Law360 looks at those and other new claims in the U.K.

  • October 15, 2021

    Software Co. Lobs Trade Secret Claims In $47M Monopoly Suit

    Firing back against a $47 million lawsuit accusing it of monopolizing the market for utility data management, an Atlanta software company countersued for trade secret misappropriation and unfair competition against a startup founded by its alumni.

  • October 15, 2021

    Tether To Pay CFTC $41M Over Stablecoin Reserve Claims

    The U.S. Commodity Futures Trading Commission said Friday that Tether will pay $41 million to resolve allegations that it misled the market about its namesake stablecoin being "fully backed" by U.S. dollars.

  • October 14, 2021

    CFPB, FTC Wade Into 4th Circ. Fight Over Public Records Site

    The Consumer Financial Protection Bureau and Federal Trade Commission told the Fourth Circuit on Thursday that a public records website cannot use so-called Section 230 liability protections for tech platforms to shield itself from a class action accusing it of credit reporting violations.

  • October 14, 2021

    After SEC Rejection, Bitwise Tries Again For A Bitcoin ETF

    Bitwise Asset Management is taking another shot at launching a bitcoin exchange-traded fund, this time based on the price of bitcoin instead bitcoin futures, that will build on an application previously rejected by the U.S. Securities and Exchange Commission.

  • October 14, 2021

    Mortgage Biz Accepts Crypto Payments In Industry First

    United Wholesale Mortgage said Thursday it has accepted its first cryptocurrency mortgage payment in what it's calling the industry's first transaction of its kind.

  • October 14, 2021

    Fenwick-Led Software Company Among 3 IPOs Raising $1.2B

    Fenwick-led software development platform GitLab began trading Thursday after pricing an $801 million initial public offering that was above its range, leading two other newly minted public companies that raised a combined $1.2 billion.

  • October 14, 2021

    Deals Rumor Mill: GlaxoSmithKline, Kobalt, Hyphen Group

    Private equity firms are competing for GlaxoSmithKline’s £40 billion consumer business, KKR is nearing a deal for a roughly $1.1 billion stake in Kobalt Music Group, and Hyphen Group is on the verge of a $1 billion SPAC deal. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • October 14, 2021

    Fintech Biz Tala Lands $145M Series E For Expansion, Crypto

    Tala, a banking app focused on people left out from traditional financial services, said Thursday it raised $145 million in a Series E financing round that included Upstart, Stellar Development Foundation and Kindred Ventures.

  • October 14, 2021

    G-7 Aims To Help Central Banks Create Digital Currencies

    Finance ministers from the world's largest economies set out guiding principles on Thursday for countries planning to develop digital forms of central bank money as they seek to ensure that transactions are efficient and secure.

  • October 13, 2021

    SEC's Top Enforcer Says Admissions Are Back On The Menu

    The U.S. Securities and Exchange Commission's top enforcement officials signaled Wednesday that the agency will be pivoting back toward the practice of requiring defendants to admit wrongdoing in certain enforcement action settlements.

  • October 13, 2021

    Sen. Brown Says Tenure Of Fed's Quarles Was 'Failure'

    Sen. Sherrod Brown, D-Ohio, has called for the Federal Reserve to refrain from loosening any banking regulations before President Joe Biden makes his own appointments to the central bank's governing board, slamming the record of its outgoing top bank oversight official as a "failure that must come to a close."

  • October 13, 2021

    Crypto Miner, Winery Launch Plans For 2 IPOs Totaling $175M

    Alternative energy cryptocurrency miner Stronghold Digital Mining Inc. and California winery Winc Inc. joined a crowded initial public offerings pipeline Wednesday, setting price ranges on IPOs that could raise $175 million combined, guided by four law firms.

  • October 13, 2021

    Real Estate Rumors: Trez Capital, ICapital Network, AEW

    Trez Capital has reportedly loaned $78.2 million for a Florida multifamily project, iCapital Network is said to be taking another 35,186 square feet in New York, and AEW Capital Management has reportedly dropped $123 million on two South Florida apartment complexes.

  • October 13, 2021

    4th BitMEX Anti-Money Laundering Suspect To Appear In NY

    A Bermuda resident in charge of development at cryptocurrency futures exchange BitMEX will soon appear in New York to face charges that he and three others evaded anti-money laundering rules put in place to protect U.S. banking, a Manhattan federal judge heard Wednesday.

  • October 13, 2021

    'Gamification' Exposes Major Reg BI Flaw, SEC Official Says

    The U.S. Securities and Exchange Commission's investor advocate is calling into question whether Regulation Best Interest was "worth the effort," saying Wednesday that the landmark investor protection rule could fail to protect investors from online trading platforms that use "gamification" to nudge them into trading more. 

  • October 13, 2021

    Paul Hastings-Led Payments Firm Prices Upsized $660M IPO

    Middle market-focused payments software firm AvidXchange began trading on the Nasdaq Wednesday after raising $660 million in an upsized initial public offering guided by Paul Hastings LLP and underwriters' counsel Cooley LLP.

  • October 12, 2021

    SEC Chair Wary Of Conflicts, Bias In Predictive Data Tools

    The head of the U.S. Securities and Exchange Commission said the regulator is taking a hard look at conflicts of interest and other risk areas that may accompany the digital engagement practices employed by online brokerages and advisers.

  • October 12, 2021

    CFPB Urged To Change Course On Earned-Wage Programs

    Nearly 100 organizations urged the Consumer Financial Protection Bureau Tuesday to revoke or overhaul its earlier actions on earned-wage access products, saying the decisions could be exploited to evade fair lending and payday loan laws.

  • October 12, 2021

    Binance Launches $1B Fund For Further Crypto Adoption

    Cryptocurrency exchange Binance said Tuesday it's launching a $1 billion fund to encourage more adoption of blockchain and digital assets.

  • October 12, 2021

    Chopra Officially Takes Reins As CFPB's Next Director

    The Consumer Financial Protection Bureau on Tuesday completed its leadership transition from the Trump era with the swearing in of Rohit Chopra as the new permanent director of the agency, where he will have a former enforcement attorney and BigLaw lawyer for his chief of staff.

Expert Analysis

  • What Attorneys Should Know About Blockchain Disputes

    Author Photo

    As blockchain companies on the product supply chain rapidly adopt new technologies, commercial counsel can prepare to assist blockchain clients and consumers in mitigating transactional disputes by becoming familiar with smart contract code, jurisdictional issues and new dispute resolution schemes, says Michael Hewitt at Sideman & Bancroft. 

  • Pandora Papers Reveal Need For Greater Tax Enforcement

    Author Photo

    The recent Pandora Papers leak is a reminder of the importance of transparency laws and proper funding for enforcement efforts against tax evasion as bad actors increasingly operate in the shadows, says Daren Firestone and Kevin Crenny at Levy Firestone.

  • Girardi Scandal Provides Important Ethics Lessons

    Author Photo

    The litigation and media maelstrom following allegations that famed plaintiffs attorney Thomas Girardi and his law firm misappropriated clients' funds provides myriad ethics and professional responsibility lessons for practitioners, especially with regard to misconduct reporting and liability insurance, says Elizabeth Tuttle Newman at Frankfurt Kurnit.

  • Series

    Embracing ESG: Jabil GC Talks Compliance Preparation

    Author Photo

    Tried-and-true compliance lessons from recent decades can be applied to companies’ environmental, social and governance efforts, especially with regard to employee training and consistent application of policies — two factors that can create a foundation for ESG criteria to flourish, says Robert Katz at Jabil.

  • 3 Ways CLOs Can Drive ESG Efforts

    Author Photo

    Chief legal officers are specially trained to see the legal industry's flaws, and they can leverage that perspective to push their companies toward effective environmental, social and governance engagement, says Mark Chandler at Stanford Law School.

  • How Law Firms Can Rethink Offices In A Post-Pandemic World

    Author Photo

    Based on their own firm's experiences, Kami Quinn and Adam Farra at Gilbert discuss strategies and unique legal industry considerations for law firms planning hybrid models of remote and in-office work in a post-COVID marketplace.

  • Opinion

    Next Fed Supervision Vice Chair Must Restore Bank Oversight

    Author Photo

    President Joe Biden's upcoming pick for vice chair of supervision at the Federal Reserve must undo deregulation of the banking industry carried out since 2017, and address emerging threats with an eye toward racial economic inequality, climate-related risks, fintech, liquidity requirements and more, says Phillip Basil at Better Markets.

  • What To Expect From SEC's Equity Market Recommendations

    Author Photo

    U.S. Securities and Exchange Commission Chair Gary Gensler’s recent comments offer clues as to how the agency's forthcoming report on equity market structure may address issues like payment for order flow, settlement cycle, market data and conflicts of interest, says Justin Chretien at Carlton Fields.

  • NYC Fair Chance Act Updates Challenge Finance Employers

    Author Photo

    Financial institutions may struggle to reconcile industry regulators’ criminal background check requirements for job applicants with new restrictions imposed by New York City’s Fair Chance Act amendments, but certain best practices can help employers in this arena balance their competing obligations, say Tyler Hendry and Pamela K. Terry at Herbert Smith.

  • Series

    Embracing ESG: Baker Hughes CLO Talks Sustainability Team

    Author Photo

    For businesses focused on addressing environmental, social and governance considerations, a legal team that can coordinate sustainability efforts across the company can help to manage risk and compliance issues, anticipate and prepare for change, and identify new opportunities, says Regina Jones at Baker Hughes.

  • What Mainstreaming Of Litigation Finance Means For Industry

    Author Photo

    The rush of new capital and investors into the litigation funding space is expected to bring heightened competition on price and other key deal terms, but litigants will need to be more in tune with individual financiers' proclivities, says William Weisman at Therium Capital Management.

  • How Investors Can Avoid Falling Prey To Crypto Scams

    Author Photo

    Mr. White Hat's recent theft, and surprising return, of $611 million in cryptocurrency from the Poly Network illustrates that crypto investors must conduct their own due diligence to avoid scams, including by closely scrutinizing coin founders, backers, white papers and token sales, and watching for red flags with respect to transparency, valuation and more, says Dorothy Siron at Zhong Lun.

  • What 9th Circ. Privilege Test Means For Dual-Purpose Advice

    Author Photo

    While the Ninth Circuit's recent ruling in In re: Grand Jury confirms that courts should use the primary-purpose test to determine whether communications with both legal and business purposes are shielded by the attorney-client privilege, questions on the application of the test remain, says Scott Tenley at Michelman & Robinson.

  • Lifting The Veil On The Supreme Court's Shadow Docket

    Author Photo

    Following headline-making U.S. Supreme Court emergency orders on Texas’ new abortion law, COVID-19 restrictions and more, Vetan Kapoor, counsel to Senate Judiciary Committee ranking member Chuck Grassley, R-Iowa, examines the court's so-called shadow docket and its decision-making procedures, including questions around transparency, timing and precedential effect.

  • Series

    Embracing ESG: United Natural Foods GC Talks Bottom Line

    Author Photo

    In prioritizing environmental, social and governance initiatives as strategic value drivers, corporate general counsel can leverage meaningful ESG progress to benefit both the business's bottom line and the wider world, says Jill Sutton at United Natural Foods.

Want to publish in Law360?


Submit an idea
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!