Treasury Sets Plans For State Stablecoin Regime Reviews

By Aislinn Keely

The Treasury Department implemented its procedures for reviewing and approving state-level stablecoin licensing frameworks Wednesday, issuing an interim final rule that would give states some flexibility in meeting a looming deadline to submit their regimes for stablecoin issuers.

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Fed Finalizes Update To Open Stress Test Models

By Sarah Jarvis

The Federal Reserve Wednesday finalized changes to how it stress tests banks, saying that new steps, such as inviting public comment on the scenarios used in the exams, would lead to greater transparency and public accountability.

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Fed HQ Review Finds Cost-Control Failures, No Crimes

By Jon Hill

A Federal Reserve watchdog said Wednesday that it has found no potential criminal violations tied to overbudget renovations of the central bank's headquarters, a more than $2 billion overhaul that became a focus of White House attacks on former Fed Chair Jerome Powell.

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CFTC Wins $31M Judgment In Crypto, Metals Fraud Scheme

By Carolina Bolado

The Commodity Futures Trading Commission has won a $31 million judgment against four defendants accused of operating a $21 million crypto trading scheme, the CFTC announced Wednesday.

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Crypto Analysis Biz Escapes Most Claims In Fraud Row

By Emlyn Cameron

A New York federal judge has cut down the majority of claims that defunct cryptocurrency platform Celsius Network LLC's litigation agent brought against blockchain analysis company Chainalysis Inc., leaving one claim wholly intact while dismissing the others either permanently or contingently.

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Detroit Judge Orders RealToken Tenant Out Of Unsafe Home

By Melanie Dorsey

A Detroit Judge ordered a longtime tenant to leave a RealToken-linked duplex by Oct. 23 after finding the property uninhabitable, largely based on testimony from a structural engineer who said the severely deteriorated home would cost about $200,000 to rehabilitate.

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Visa, Mastercard Get ATM Fee Antitrust Case Tossed

By Lauren Berg

A Washington, D.C., federal judge handed a win to Visa and Mastercard on Wednesday, dismissing a long-running class action accusing the credit card giants of running afoul of antitrust laws with ATM fee rules that hurt machine owners.

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Chase Gets Trump's $5B Fla. Debanking Case Sent To NY

By Dorothy Atkins

A Florida federal judge on Wednesday granted JPMorgan Chase Bank NA's motion to transfer President Donald Trump's $5 billion debanking case to New York, agreeing with the bank that the president and his businesses fraudulently joined JPMorgan CEO Jamie Dimon in an attempt to keep the litigation in Florida.

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11th Circ. Skeptical Of PACE Lenders' CFPB Rule Challenge

By Jon Hill

An Eleventh Circuit panel on Wednesday appeared poised to reject an industry challenge to Biden-era Consumer Financial Protection Bureau rules for providers of property-assessed clean-energy loans, repeatedly questioning claims that the agency overstepped its authority.

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Crypto Project Argentina Pres. Promoted Ducks RICO Claims

By Katryna Perera

A New York federal judge has permanently dismissed a proposed class action against the operators and promoters of a cryptocurrency project touted by Argentinian President Javier Milei, finding the investors failed to plausibly plead that the defendants conspired to defraud them.

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Brief

Peoples, Capital Bancorp To Combine In $728.1M Deal

By Al Barbarino

Ohio's Peoples Bancorp Inc. said Wednesday it will acquire Maryland-based Capital Bancorp Inc. in an all-stock transaction valued at approximately $728.1 million, with Dinsmore & Shohl LLP advising Peoples and Squire Patton Boggs LLP advising Capital.

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What's Next For Prediction Markets If States Win At High Court

While the Supreme Court hasn't taken up a prediction market case yet, a high court win for the states in their quest to regulate the exchanges would likely mean a wave of state legislature bills and regulatory guidance arriving on different timelines, rather than a single uniform transition, says Howard Herndon at Bradley Arant.

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FDIC Standards Body Could Ease Bank Vendor Due Diligence

The Federal Deposit Insurance Corp.'s recently proposed standards body for bank vendors could streamline due diligence and onboarding, but banks and their third-party service providers alike should still monitor open questions around oversight, certification costs and governance, say attorneys at Clark Hill.

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AI Meeting Recaps Pose New Discovery And Privilege Risks

The New York City Bar Association’s recent ethics opinion, cautioning attorneys not to record nonclient conversations with artificial intelligence tools, reflects an emerging view that AI meeting recaps are now a distinct business record category, meaning counsel should set meeting-level controls and apply framework-level updates, says William Wright at Faegre Drinker.

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The Law360 Pulse Prestige Leaders: A Look At The Top Firms

Today's most prestigious firms attract top talent and marquee clients while posting record profits. Here's a look at the top 10 firms in this year's Law360 Pulse Prestige Leaders, a ranking of the firms that stand out for their prominence, power and distinction.

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DOJ Accuses Judges Of Ethics Violations With Press Remarks

By Jack Karp

Several Minnesota federal judges ran afoul of their ethical obligations when they commented on President Donald Trump's immigration policies in a recent news article, the U.S. Department of Justice said in a judicial misconduct complaint filed Wednesday.

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Federal Bar Discussion Looks At Courts' Role In Regulating AI

By Bonnie Eslinger

A Federal Bar Association discussion Wednesday in California about AI and how it will be regulated in the United States prompted the Northern District's new chief judge to ask whether Congress' "inability to pass laws" will leave it to the courts "to figure out how we're going to do this."

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DOJ Atty Picked For Judgeship Probed On Fulton County Raid

By Courtney Bublé

A top U.S. Department of Justice official tapped for a federal judgeship faced questions from Democratic lawmakers on Wednesday about the department's investigation in Fulton County, Georgia, over Trump's allegations of fraud in the 2020 election.

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Texas AG Says ABA Stifling Law School Competition

By Spencer Brewer

The Texas Attorney General announced an investigation into the American Bar Association relating to alleged anticompetitive conduct in the association's accreditation of law schools, claiming Wednesday that the ABA "weaponized its accreditation authority" to push "unconstitutional racial and gender preference requirements."

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Sen. Blackburn Sues Smith For Seizing Phone Records

By James Boyle

U.S. Sen. Marsha Blackburn alleges in a federal complaint filed Wednesday that Jack Smith illegally subpoenaed her phone records as part of an investigation into alleged efforts to overturn the results of the 2020 presidential election.

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3rd Circ. Calls Westlaw AI Fight 'Ordinary Copyright Case'

By Ivan Moreno

The Third Circuit said the first appellate fight over artificial intelligence training and fair use ultimately came down to an "ordinary copyright case," affirming that Ross Intelligence infringed Thomson Reuters' Westlaw headnotes when it used them to train a competing legal research platform.

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Blank Rome Seeks Time To Exit LIV Golf's Fla. Office

By Ben Zigterman

Blank Rome LLP on Wednesday filed a limited objection to LIV Golf's motion to reject its sublease at an office building in West Palm Beach, Florida, saying it didn't receive any advance notice and would like until the end of October to transition to a new office.

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Roundup

Defamation Litigation Roundup: Candace Owens, Firm DQ

By Theresa Schliep

In this month's review of defamation fights, Law360 highlights a new suit over right-wing media personality Candace Owens and her conspiracy theories about the killing of conservative activist Charlie Kirk, as well as Quinn Emanuel's disqualification from a suit against a former client.

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Tort Report: Uber Owes $40M In Abandoned Rider Death Case

By Y. Peter Kang

A $40 million arbitration award in a case over an Uber incident and looming litigation against the federal government over a highly publicized U.S. Immigration and Customs Enforcement raid on a Hyundai-LG plant in Georgia lead Law360's Tort Report, which compiles recent personal injury and medical malpractice news that may have flown under the radar.

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Roundup

Hub Hires: Mintz, Foley Hoag, Barclay Damon

By Chris Villani

Boston saw several significant moves across its legal landscape as the summer wound down, with Foley Hoag adding an experienced debt finance attorney from Goodwin Procter, a boutique white collar firm snagging a longtime federal prosecutor, and Mintz getting new leadership for the first time in nearly two decades.

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