Discover Card 'Misclassification' Deal Worth Up To $1.2B OK'd

By Hailey Konnath

An Illinois federal judge Wednesday gave the final green light to a settlement under which Discover Financial Services will pay between $540 million and $1.2 billion to resolve class action allegations it misclassified certain credit card accounts.

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FTC Wins Partial Ruling On Doxo's Online Signup Practices

By Ben Adlin

Online bill pay service Doxo violated federal law by failing to disclose the terms of its doxoPLUS subscription before obtaining customers' payment information, a Washington federal judge ruled Thursday, granting the Federal Trade Commission a partial win in its suit accusing the company of duping consumers into paying hidden fees.

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CFTC Makes Prediction Markets Integrity Pact With NHL

By Alex Lawson

The National Hockey League and the U.S. Commodity Futures Trading Commission detailed their plans for strengthening oversight of event contracts tethered to the league's games Thursday as fears swirl over insider trading on prediction market sites.

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OCC Says Fintech Partner Bank Fell Behind On AML Controls

By Jon Hill

The Office of the Comptroller of the Currency has ordered Community Federal Savings Bank to strengthen its anti-money laundering controls after finding that the New York-based bank failed to keep pace with the risks from its fast-growing payment-processing business.

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NY Cautions Banks About Cyber Risks From Advanced AI

By Sarah Jarvis

New York's financial services regulator issued new guidance Thursday on the risks associated with cutting-edge artificial intelligence, urging firms to make sure their cybersecurity programs can promptly flag weaknesses that so-called frontier AI models can exploit, among other things.

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SEC's Peirce To Join Law School Faculty After Agency Exit

By Sarah Jarvis

The U.S. Securities and Exchange Commission's Hester Peirce will join the faculty of Regent University School of Law this November after her time at the agency, the university announced, although the commissioner said her departure date has not yet been set.

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Missouri Sues Crypto ATM Co. For Aiding Fraud, Excess Fees

By Emilie Ruscoe

Missouri's attorney general sued cryptocurrency ATM operator CoinFlip, accusing the company of facilitating scams and then profiting off of the fraudulent transactions by charging hidden and excessive fees.

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LGBCoin Buyers Say Sanctions Bid Flunks Safe Harbor Rule

By David Minsky

Investors in the "Let's Go Brandon" meme coin asked a Florida federal court to reject a sanctions bid filed by the coin's founder, saying he didn't comply with the court's safe harbor rule requiring him to send a draft motion 21 days in advance. 

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Skadden Adds Ex-National Futures Association GC In Chicago

By Christine DeRosa

The former general counsel for the National Futures Association has jumped to private practice at Skadden Arps Slate Meagher & Flom LLP in Chicago.

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5 Rules In 10 Weeks: Inside Genius Act's Implementation Blitz

Regulators have proposed five Genius Act rules in a striking span of 10 weeks, building a stablecoin framework that, with the Office of the Comptroller of the Currency at its operational center, will shape oversight and force issuers, banks and fintechs to take action as deadlines approach, say attorneys at Cahill.

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Series

NY Times Word Puzzles Make Me A Better Lawyer

Every morning I let The New York Times humble me with word games, which offer a chance to recalibrate my brain before the day's chaos arrives and remind me that a solution — whether to a puzzle or employment law issue — almost always exists once I find the right angle, says Amy Epstein Gluck at Pierson Ferdinand.

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Analysis

BigLaw Deals Scandal Puts Boston Back On White Collar Map

By Chris Villani

A sweeping insider trading case involving information stolen from BigLaw firms shows a return to bread-and-butter white collar enforcement for Boston federal prosecutors and provides a morale lift in an office that has seen shifting priorities and staff turnover since the signature "Varsity Blues" takedown in 2019, veteran prosecutors told Law360.

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Goldstein Taps Ex-SG Prelogar Before Sentence, Likely Appeal

By Jeff Overley

One of the nation's most accomplished oral advocates, Tom Goldstein, revealed Thursday he has retained another of the nation's most accomplished oral advocates, Elizabeth Prelogar, ahead of his sentencing and likely appeal in a criminal tax case that has captivated the appellate bar.

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Immigration Judges' 'Anxiety' Dialed Up Amid Mass Exodus

By Emma Cueto

Current and former immigration judges spoke on a web panel Thursday about threats to the independence of immigration judges and the strains on the immigration system, such as a massive backlog of cases at a time when many judges have been pushed out or fired.

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Analysis

How Exxon Attys Beat A 10-Year-Old Securities Class Action

By Spencer Brewer

This month, Exxon Mobil's defense team helped deliver a clean sweep victory for the energy giant when a federal jury in Texas found the company did not lie to investors about the profitability of some operations.

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PBM Swaps Cravath For WilmerHale In Price-Fixing Suit

By Bonnie Eslinger

Pharmacy benefit manager Prime Therapeutics LLC has replaced counsel Cravath Swaine & Moore LLP with WilmerHale and another firm in an antitrust case in Michigan federal court brought by the state's attorney general.

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Bush-Appointed Missouri Judge To Take Senior Status

By Courtney Bublé

U.S. District Judge David Gregory Kays of the Western District of Missouri will take semi-retired status in May 2027, according to an update from the federal judiciary on Thursday.

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Feature

5 Podcasts To Keep IP Attys Entertained And Informed

By Theresa Schliep

Whether intellectual property attorneys are hitting the road for a family trip or kicking their feet up at home, podcasts about legal news can offer an easy way for them to stay in the know while (hopefully) not working this Memorial Day weekend.

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