Powell Says Leverage Rule Revamp Won't Exclude Treasuries

By Jon Hill

Federal Reserve Chair Jerome Powell told House lawmakers Tuesday that a forthcoming plan to revamp big-bank leverage limits won't exempt U.S. Treasuries from their calculation, a potential disappointment for financial-sector lobbies that hope to resurrect the pandemic-era carveout. 

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Visa Can't Duck DOJ's Debit Card Monopoly Case

By Matthew Perlman

A New York federal court has refused to throw out the U.S. Department of Justice's case accusing Visa of illegally maintaining a monopoly over debit card networks, rejecting arguments about the market at issue, discounts offered and the scope of deals with would-be competitors.

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NJ Bank, DOJ Push To End Redlining Deal Amid Opposition

By Sydney Price

Lakeland Bank and the U.S. Department of Justice urged a New Jersey federal judge to reject a brief from three fair housing groups opposing the early termination of the bank's $13 million redlining settlement, arguing the groups' call for housing discrimination accountability is irrelevant to the settlement's termination.

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Ex-Inmate's Debit Fee Class Action Cleared For Trial

By Rachel Riley

A jury should decide if a former jail inmate was forced to accept a prepaid debit card and pay related fees when his money was returned to him upon release, a Washington federal magistrate judge said on Tuesday, advancing a class action against Central Bank of Kansas City.

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GOP Senators Unveil Crypto Market Framework Principles

By Sarah Jarvis

Senate Republicans on Tuesday morning released a set of principles to guide the development of digital asset market structure legislation, their latest push toward regulating the cryptocurrency space following their passage of stablecoin legislation last week.

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State AGs Sue Trump Admin To Stop Billions In Grant Cuts

By Rae Ann Varona

A coalition of 21 states and the District of Columbia filed suit Tuesday in Massachusetts federal court, accusing the Trump administration of unlawfully using a single clause "buried in federal regulations" to nix billions of dollars in federal grant funding to the states.

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CoastalSouth Bank Targets $59M IPO, Guided By 2 Firms

By Jade Martinez-Pogue

CoastalSouth Bancshares Inc., the bank holding company for South Carolina state-chartered commercial bank Coastal States Bank, on Tuesday announced the launch of its initial public offering with plans to raise $58.5 million.

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Amundsen Davis Guiding First Financial On Westfield Buy

By Al Barbarino

Amundsen Davis LLC is advising First Financial Bancorp on a new agreement to purchase Westfield Bancorp for $325 million, while SquirePatton Boggs (US) LLP is representing the seller, Westfield parent Ohio Farmers Insurance Co.

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Simpson Thacher Grows In Houston With Ex-Latham Atty

By James Boyle

An attorney with expertise on financial transactions in the energy and infrastructure industries has moved his practice to Simpson Thacher & Bartlett LLP's Houston office after nearly 12 years with Latham & Watkins LLP.

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Shareholder Takeaways From NY Internal Affairs Doctrine Suit

A May New York Court of Appeals decision in Ezrasons v. Rudd involving Barclays — affirming the state's "firmly entrenched" internal affairs doctrine — is a win for all corporate stakeholders seeking stability in resolving disputes between shareholders and directors and officers, say attorneys at Sadis & Goldberg.

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Move Beyond Surface-Level Edits To Master Legal Writing

Recent instances in which attorneys filed briefs containing artificial intelligence hallucinations offer a stark reminder that effective revision isn’t just about superficial details like grammar — it requires attorneys to critically engage with their writing and analyze their rhetorical choices, says Ivy Grey at WordRake.

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Kasowitz Rebrands Amid Shift To Streamlined Firm Names

By Andrea Keckley

Kasowitz Benson Torres LLP announced Tuesday that it is rebranding to Kasowitz LLP, becoming the latest firm to shorten its name.

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3rd Circ. Pick Told DOJ To Defy Courts, Whistleblower Says

By Courtney Bublé

A top career official at the U.S. Department of Justice who was fired has come forward with a whistleblower complaint alleging Third Circuit judicial nominee Emil Bove, who was acting deputy attorney general at the beginning of the year, sought to defy court orders.

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Judiciary Warns Congress Of Cyber Risks To PACER

By Courtney Bublé

PACER, the online public repository of federal court documents, is vulnerable to cyberthreats, a top judiciary official told members of Congress on Tuesday.

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Former DOJ Antitrust Official Joins Latham

By Bryan Koenig

Latham & Watkins LLP on Wednesday announced the addition of a new D.C.-based antitrust partner with the hiring of Andrew Forman, a former deputy assistant attorney general in the U.S. Department of Justice's Antitrust Division who is rejoining private practice after three years of helping lead civil competition enforcement.

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Winston & Strawn Sues Hunter Biden For 'Unpaid Legal Fees'

By Alison Knezevich

Winston & Strawn LLP is suing Hunter Biden in Washington, D.C., alleging he owes the BigLaw firm more than $50,000 for legal work related to his federal criminal case in Delaware and other matters.

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Another Musk Case, Another Judge Recusal

By Bryan Koenig

A California federal magistrate judge on Tuesday became the latest federal judge to recuse from a case involving Elon Musk, this time stepping down from handling his lawsuit challenging OpenAI's now-abandoned transition to a for-profit enterprise.

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ABA Announces New Research Into Attorney Mental Health

By Emma Cueto

The American Bar Association announced Tuesday it is launching a national research project on attorney mental health, which will provide an updated benchmark of the issue nearly a decade after its 2016 study.

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Trump Hones Immunity Argument In 2nd Circ. Carroll Appeal

By Pete Brush

Counsel for President Donald Trump told the Second Circuit on Tuesday that he did not "unequivocally and explicitly" waive presidential immunity before a jury awarded writer E. Jean Carroll $83.3 million in their defamation battle, refining the theory that he cannot be held liable.

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Analysis

Anthropic Copyright Ruling May Spur More AI Licensing Deals

By Ivan Moreno

The first federal court decision on the fairness of taking copyrighted material to train generative artificial intelligence is a mixed outcome for tech companies and content creators that could prompt both parties to seek coexistence, according to attorneys, with the judge concluding that while the technology is "spectacularly" transformative, using pirated material is inexcusable.

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