Fed Floats Revision Of Large Bank Rating Framework

By Aislinn Keely

The Federal Reserve on Thursday floated a proposed revision to its supervisory rating framework that would allow large bank holding companies to retain a certain stamp of regulatory approval even if they receive a low rating in one area of assessment.

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Crypto Exec Fights NY Suit, Cites Due Process Violation

By Sydney Price

The CEO of a venture capital firm accused of misleading investors into buying up a crypto token with the help of an endorsement from Argentine President Javier Milei just before it tanked said an attempt by New York to exercise jurisdiction over him would be unconstitutional.

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SEC's Peirce Says Tokenized Security Issuers Must Heed Law

By Tom Zanki

The U.S. Securities and Exchange Commission's Hester Peirce is cautioning market participants that issuers of digital versions of securities, often described as tokenized securities, must comply with federal laws even as they pursue innovation.

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Senate Confirms Gould As OCC Head

By Sarah Jarvis

The U.S. Senate on Thursday confirmed Jones Day partner Jonathan Gould as Comptroller of the Currency in a 50-45 vote along party lines, marking his return to the agency where he spent more than two years as chief counsel.

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States Fine Payment Co. Wise $4.2M Over Compliance Lapses

By Sarah Jarvis

Wise has agreed to pay $4.2 million and take various remediating actions to end six states' claims that the global money transfer fintech had inadequate anti-money laundering programs.

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Student Loan Lender Settles AI Bias, Fair Lending Claims

By Sydney Price

Massachusetts Attorney General Andrea Joy Campbell on Thursday said her office has reached a $2.5 million deal with a Delaware-based student loan company to settle allegations that it utilized artificial intelligence models that could disproportionately harm Black and Hispanic applicants.

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Bitcoin Scammer Hit With 12 Years Over Restitution Failure

By Pete Brush

A federal judge in Manhattan slammed a bitcoin fraudster with a 12-year prison term Thursday for allegedly refusing to repay $20 million to an entrepreneur whose cryptocurrency he admitted to stealing, imposing punishment anew at a resentencing over strenuous defense objections.

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Apple, Visa And Mastercard Beat Payment Fee Collusion Suit

By Rae Ann Varona

An Illinois federal judge on Wednesday dismissed several retailers' proposed antitrust class action that accused Apple, Visa and Mastercard of scheming to restrain competition in point-of-sale transaction payment networks, saying the express terms of agreements retailers had claimed were anti-competitive showed otherwise.

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Capital One Deal Approval Lights Up Path For Bank M&A

The federal banking regulators' recent approval of Capital One's acquisition of Discover signals the agencies' willingness to approve large transactions and a more favorable environment generally for bank mergers under the Trump administration, say attorneys at Arnold & Porter.

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Series

Playing The Violin Makes Me A Better Lawyer

Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo.

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VC Giant Andreessen Rips Del. Courts, Plans Move To Nev.

By Rae Ann Varona

Venture capital giant Andreessen Horowitz on Wednesday announced plans to reincorporate in Nevada, saying that it was no longer a "no-brainer" to launch a company and incorporate in the historically corporate-friendly state of Delaware.

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Dems Say 3rd Circ. Nominee Urged DOJ To Ignore Courts

By Courtney Bublé

Senate Democrats on the Judiciary Committee on Thursday unveiled 150 pages of documents, which they say substantiate whistleblower allegations against Third Circuit nominee Emil Bove and raise concerns about his conduct during his tenure at the U.S. Department of Justice.

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Another Atty Sanctioned For Allegedly Hallucinated Case Law

By Andrea Keckley

A Florida judge on Wednesday issued a blistering order against an attorney who became the latest of many to face sanctions over filings with case law suspected of being hallucinated by generative artificial intelligence, ordering him to take AI ethics courses and repay opposing counsel's fees.

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'Admonition' But No More Amazon Penalty For Hidden Docs

By Bryan Koenig

A federal judge in Washington state took Amazon.com to task Thursday for "bad faith" material review that labeled tens of thousands of documents as covered by attorney-client privilege despite involving no legal advice, but the judge, who is presiding over the Federal Trade Commission's Prime subscriptions case against the company, opted against further punishment.

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Trump Taps Holland & Hart Partner For Montana Bench

By Lauren Berg

President Donald Trump announced on social media Thursday he has chosen a Holland & Hart LLP partner and veteran government attorney to serve on the federal bench in Montana.

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Senate Tees Up 6th Circ. Nom Vote As 1st Of 2nd Trump Term

By Courtney Bublé

The first judicial confirmation of the second Trump administration was readied on Thursday, with the U.S. Senate voting 51-43 to end debate on the nomination of Whitney Hermandorfer to the Sixth Circuit.

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Judge Blocks Trump's Birthright Citizenship Order Nationwide

By Britain Eakin

A New Hampshire federal judge on Thursday issued a nationwide block of President Donald Trump's executive order limiting birthright citizenship, and granted certification to a nationwide class that will cover all affected children born in the U.S.

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Analysis

5 Employee Benefits Takeaways On The GOP Tax Bill

By Kellie Mejdrich

Congressional Republicans' sweeping tax and policy bill, which President Donald Trump sought and then signed, contains multiple provisions that caught the attention of employee benefits and executive compensation attorneys, including new changes to high-deductible health plans and an employer-side deduction limit affecting highly compensated employees. Here are five takeaways from employee benefits and executive compensation attorneys on what's in — and out of — the GOP megabill.

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