Crypto Co. Kraken Secures Fed Master Account Access

By Aislinn Keely

The Federal Reserve Bank of Kansas City on Wednesday cleared Wyoming-chartered Kraken Financial for a "limited purpose" master account, becoming the first crypto bank to gain access to the Federal Reserve's payment rails in a move that brought outcry from banking groups.

Read full article » | Save to favorites »

SEC Takes Step Toward Issuance Of Crypto 'Taxonomy'

By Aislinn Keely

The U.S. Securities and Exchange Commission has sent its forthcoming "token taxonomy" to the Office of Information and Regulatory Affairs for review, marking a procedural step toward issuing guidance on which crypto assets and transactions trigger securities laws.

Read full article » | Save to favorites »

CSBS Chief Warns Of OCC Charter, Preemption Overreach

By Jon Hill

The head of the Conference of State Bank Supervisors fired a warning shot at the Office of the Comptroller of the Currency on Tuesday, accusing the agency of stretching its chartering and preemption powers too far and signaling that states could challenge the moves in court.

1 document attached | Read full article » | Save to favorites »

Polymarket Challenges Mich.'s Gambling Law Enforcement

By Katryna Perera

Polymarket US filed suit Wednesday seeking to block Michigan from enforcing its gambling laws against the prediction-market exchange, marking the latest in the fight between prediction-market exchanges and state regulators that is playing out across the country.

Complaint attached | Read full article » | Save to favorites »

PE Firm Norada Faces Investor Suits Over $92M Ponzi Scheme

By Katryna Perera

Groups of investors from multiple states have filed a series of lawsuits against Norada Capital Management LLC in Wyoming federal court, alleging the private equity fund defrauded them out of millions of dollars as part of a Ponzi scheme that the firm's managing member pled guilty to.

Complaint attached | Read full article » | Save to favorites »

Veterans Fight BofA Interest Suit Dismissal Recommendation

By Sydney Price

Three veterans told a North Carolina federal court Tuesday that a magistrate judge was wrong to recommend tossing their proposed class action accusing Bank of America of violating an interest cap law for military service members, arguing their claims under the Servicemembers Civil Relief Act are unambiguous.

1 document attached | Read full article » | Save to favorites »

What Kalshi Cases Reveal About State Authority, Regulation

Prediction markets like Kalshi have ignited complex legal battles that get to the heart of how novel financial products intersect with traditional state enforcement authority, and courts are already beginning to divide over whether federal law preempts state enforcement authority restricting these offerings, say attorneys at Holtzman Vogel.

Read full article » | Save to favorites »

How Leveraged Lending Pivot May Alter Bank Risk Oversight

The Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency's recent withdrawal of leveraged lending guidance introduces several principles that may allow banks to better apply enterprisewide risk management programs and potentially create additional competition in the private credit loan market, say attorneys at Mayer Brown.

Statement attached | Read full article » | Save to favorites »

Series

Law School's Missed Lessons: In Court, It's About Storytelling

Law school provides doctrine, cases and hypotheticals, but when lawyers step into the courtroom, they must learn the importance of clarity, credibility, memorability and preparation — in other words, how to tell simple, effective stories, say Nicholas Steverson and Danielle Trujillo at Wheeler Trigg, and Lisa DeCaro at Courtroom Performance.

Read full article » | Save to favorites »

Judge Questions DOJ Stance In ABA's Intimidation Suit

By Jared Foretek

A Susman Godfrey LLP attorney told a district judge that the Trump administration's recent double-reversal on its executive orders targeting law firms proved that attorneys fighting government action face a real and ongoing threat and urged the judge not to toss a suit from his client, the American Bar Association, to end the "Intimidation Policy."

Motion attached | Read full article » | Save to favorites »

DOJ Seeks Power To Block State Bar Probes Of Agency Attys

By Jake Maher

The U.S. Department of Justice is seeking to pause and review state-level ethics complaints against its attorneys to combat what the agency called "weaponization" of ethics processes, a proposal that drew concerns from ethics scholars for overstepping states' authorities.

Rulemaking attached | Read full article » | Save to favorites »

Analysis

Wheeling & Appealing: The Latest Must-Know Appellate Action

By Jeff Overley

If this month's circuit calendars were a March Madness bracket, we'd struggle to pick the top-seeded showdown. Big Pharma against the False Claims Act, or big business against President Donald Trump's visa fees? A big bank's view of "human life wagers," or en banc review in a State Farm class action?

Read full article » | Save to favorites »

Bondi Subpoenaed To Testify On DOJ's Epstein Investigation

By Lauren Berg

The House Oversight Committee on Wednesday voted to subpoena U.S. Attorney General Pam Bondi to testify about the U.S. Department of Justice's investigation into deceased child sex offender Jeffrey Epstein, with five Republicans joining their Democratic colleagues to compel Bondi's testimony.

1 document attached | Read full article » | Save to favorites »

Analysis

Trump's FCA Expansion Plan Heightens Compliance Risk

By Sarah Jarvis

In light of the Trump administration's record False Claims Act enforcement haul, companies should be especially mindful of a planned expansion in the scope of enforcement and the false compliance certification risks that may bring, attorneys say.

Read full article » | Save to favorites »

SEC, PCAOB Auditor Enforcement Plummeted In 2025

By Sarah Jarvis

Both the U.S. Securities and Exchange Commission and the Public Company Accounting Oversight Board saw decreases in accounting and auditing enforcement activity in 2025, including sharp decreases in SEC settlements and PCAOB fines for auditing actions.

2 documents attached | Read full article » | Save to favorites »

Comey, James Urge 4th Circ. To Reject Indictment Revival Bid

By Emily Sawicki

Former FBI Director James Comey and New York Attorney General Letitia James have urged the Fourth Circuit not to revive criminal indictments filed against them last year in the Eastern District of Virginia, arguing they were fatally flawed because they were brought by a federal prosecutor who was not lawfully in that position.

2 documents attached | Read full article » | Save to favorites »

Appeals Panel Debates NJ's Duty In Prosecutor Ethics Case

By George Woolston

A New Jersey appellate panel on Wednesday weighed whether it was in the state's best interest to represent an assistant prosecutor in an ethics proceeding, questioning how a prosecutor is different from any other attorney called before the disciplinary board.

Read full article » | Save to favorites »