House Bill To Regulate Earned Wage Advances Clears Panel

By Aislinn Keely

The House Financial Services Committee has advanced a federal framework for fintechs offering paycheck advances despite pushback from some Democrats that the proposal hamstrings states by blocking them from applying their lending laws to the services and imposing stronger consumer protections.

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'I Would've Been Fired': FDIC Expert Pans SVB's Risk-Taking

By Dorothy Atkins

The FDIC's banking expert testified in a California federal bench trial Wednesday that Silicon Valley Bank violated prudent banking standards by mismanaging assets before it collapsed, saying officers knew SVB was taking excessive risks but did not stop, adding that "I would've been fired" if he had managed his bank's assets the same way.

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Goliath Ventures CEO Pleads Guilty To Crypto Ponzi Scheme

By Aislinn Keely

The CEO of Goliath Ventures has pled guilty to wire fraud and money laundering charges in connection with an alleged $400 million crypto Ponzi scheme.

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Brief

DOL Nears ESG Rule Rollback As White House Review Begins

By Jessica Corso

The U.S. Department of Labor is gearing up to repeal a Biden-era rule allowing retirement fiduciaries to consider issues like climate change and social justice when choosing investments, sending the proposed repeal to the White House for review.

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Orrick Recruits 6 Greenberg Traurig Fintech Attys In Miami

By Tracey Read

Orrick Herrington & Sutcliffe LLP announced Wednesday that it has hired a Greenberg Traurig LLP shareholder as a Miami partner and head of fintech licensing, with five other attorneys from that firm expected to join later this month.

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Attorney Mental Health Is An Ethical Obligation In The AI Era

As attorneys cope with the increasing unpredictability that artificial intelligence and constant policy changes have created, particularly in practice areas where they carry the emotional weight of clients’ most consequential life events, otherwise soft discussions about self-care are a matter of professional competence, says attorney Jack Jrada.

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Series

Illinois Banking Brief: All The Notable Legal Updates In Q2

The last three months were particularly consequential for Illinois banking law, with a federal court ruling reshaping the Interchange Fee Prohibition Act, the state filling enforcement gaps, significant legislative activity and a revision to the community bank leverage ratio, say attorneys at Riley Safer.

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Legal Sector Jobs Spike With Work 'Churning Right Along'

By Aebra Coe

The legal sector added 5,100 jobs in June, the largest increase the industry has seen in more than two years, according to preliminary, seasonally adjusted data released by the U.S. Bureau of Labor Statistics on Thursday.

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Law360's Legal Lions Of The Week

By Kevin Penton

The American Civil Liberties Union Foundation, the Asian Law Caucus and the Democracy Defenders Fund lead this week's edition of Law360 Legal Lions, after the U.S. Supreme Court rejected President Donald Trump's bid to limit birthright citizenship.

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Feds Seek Up To 21 Months For Ex-Judge On ICE Obstruction

By Elizabeth Daley

A former Wisconsin judge who was convicted of obstructing ICE officers' courthouse arrest of a man facing misdemeanor charges by pointing him to a side door should spend up to 21 months in prison, the government said in a sentencing memo, recommending she be made an example.

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GC Cheat Sheet: The Hottest Corporate News Of The Week 

By Sue Reisinger

Amid the changes coming for general counsel, the policies and enforcement priorities of federal regulators may fluctuate more rapidly after a U.S. Supreme Court ruling this week that could dramatically remake independent government agencies. And the EEOC rescinded affirmative action documents that have guided employers for decades.

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Georgia Atty Can't Revive Defamation Suit Over Ethics Case

By Emily Johnson

The Georgia Court of Appeals has upheld the dismissal of a Georgia attorney's defamation suit against two people involved in an unsuccessful disciplinary action against her, saying her rambling appeal failed to prove that the trial court erred in dismissing her claims.

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When Does A Firm's 'Breakup' Fee-Split Contract Go Too Far?

By Rachel Rippetoe

It looked like a win for plaintiffs' firms when the Kentucky Supreme Court recently upheld a firm's 75% claim on fees from cases an attorney took with him when he launched his own practice, but the narrow ruling may leave room for lawyers to challenge similar agreements as penalties for leaving their firms.

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Judges To Tour Rust Belt To Build Trust In Courts

By James Boyle

Days after the Fourth of July celebration of America's 250th birthday, a group of current and retired judges will lead a four-day bus tour through three states to promote one of the bedrock principles of the country's independence: the rule of law.

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Analysis

Breaking Down The Vote: The High Court Term In Review

By Jack Karp

The U.S. Supreme Court's stark ideological divisions were on full display this term, particularly as it issued long-awaited rulings in the last few days of June. Here, Law360 dives into the numbers behind this court term.

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Mass Tort Titan Paul J. Napoli Dies

By Daniel Moritz-Rabson

Paul J. Napoli, an influential plaintiffs attorney who worked on some of the nation's highest-profile mass tort matters in recent decades, died on Tuesday at the age of 58.

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Skadden Adds Mass Torts Litigator As Partner In Chicago

By Christine DeRosa

Skadden Arps Slate Meagher & Flom LLP has grown its mass torts litigation offerings in Chicago with the addition of a Goldman Ismail Tomaselli Brennan & Baum LLP attorney, the firm said.

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'Embarrassed' Conn. Atty Details ChatGPT Briefing Errors

By Aaron Keller

With a sanctions hearing on the horizon, a Connecticut attorney has told the state's highest court he is "extremely embarrassed" by artificial intelligence errors in briefs filed in two recently decided cases, explaining he used ChatGPT to edit his research without knowing it could make "unprompted changes to the content."

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Del. Magistrate Orders JPMorgan To Advance Javice Fees

By Jarek Rutz

The Delaware Chancery Court ruled Thursday that JPMorgan Chase & Co. must advance millions more in disputed legal fees to cover the appeal of the convicted founder of college financial aid startup Frank, concluding the bank failed to meet Delaware's demanding standard for withholding advancement by showing the billing requests reflected "clear abuse."

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Reed Smith Adds Ex-Norton Rose Partner, RE Atty In Munich

By Nate Beck

Reed Smith LLP has bolstered its private equity practice with the hire of a former Norton Rose Fulbright group leader in Munich.

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