8th Circ. Says Fed Must Rewrite Debit Swipe-Fee Cap

By Jon Hill

The Eighth Circuit on Monday struck down the Federal Reserve's regulatory cap on the swipe fees that larger banks may collect on debit card transactions, handing a major victory to merchants that have long argued this cap was set too high.

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

Kalshi Sues Louisiana Over 'Threat' To Its Sports Contracts

By Bonnie Eslinger

Kalshi filed preemptive litigation against Louisiana state officials and entities saying their actions and statements deeming prediction market activities unlicensed gambling means it's facing "a threat of irreparable harm, leaving [it] with no choice to protect its commercial interests and those of its users except to bring this suit."

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

NBA Strikes Prediction Market Deals With CFTC, Platforms

By Alex Lawson

The NBA announced partnerships with Kalshi and Polymarket on Monday alongside an agreement with the U.S. Commodity Futures Trading Commission to shield the integrity of its games as its ties to prediction market platforms deepen amid fierce legal battles.

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

Treasury Seeks To Expand Curbs On AI And Biotech Deals

By Dylan Moroses

The U.S. Treasury Department is looking to expand its security program for foreign-based investments to cover new technologies and countries of concern, proposing rules that would prohibit certain investments in artificial intelligence and biotechnologies while also creating new exceptions for the program.

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

Chinese Man Extradited To Calif. In $37M Crypto Scam Case

By Aislinn Keely

A Chinese national who allegedly played a key role in laundering nearly $37 million for an international cryptocurrency scam network has been extradited from the Netherlands and arraigned in California, according to the U.S. Department of Justice.

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

Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court last week approved a $250 million settlement of litigation over Microsoft Corp.'s acquisition of Activision Blizzard Inc., while Albertsons Cos. Inc. accused Kroger Co. of rejecting changes that could have saved their $24.6 billion merger, and the Delaware Supreme Court ordered Verisk Analytics Inc. to keep pursuing a $2.35 billion acquisition.

Read full article » | Save to favorites »

Mawson Creditor Says $1.5M Bond Defeats Contempt Bid

By Jarek Rutz

An Australian creditor that helped force cryptocurrency miner Mawson Infrastructure Group Inc. into bankruptcy has urged the U.S. Bankruptcy Court for the District of Delaware to reject the company's bid to hold it in contempt and fine it $10,000 a day, arguing another creditor has already posted the full $1.5 million bond required by the court.

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

FDIC Taps 5 Attys As Counsel To Chairman, Deputy GCs

By Katryna Perera

The Federal Deposit Insurance Corp. announced Monday that it has appointed five attorneys to senior leadership positions, including a former U.S. Securities and Exchange Commission attorney and a JPMorgan Chase & Co. assistant general counsel.

Read full article » | Save to favorites »

How Bank Lobby's Suit Tests OCC's Crypto Charter Powers

The Independent Community Bankers of America’s recent lawsuit challenging the Office of the Comptroller of the Currency’s ability to charter cryptocurrency companies marks another chapter in the struggle over the appropriate regulatory framework for digital assets, while raising a classic administrative law question at its most basic level, say attorneys at Ballard Spahr.

Read full article » | Save to favorites »

Uniting BSA, Sanctions Compliance As Treasury Targets Iran

The past 18 months of Treasury Department policies demonstrate expectations that financial institutions not merely obey sanctions against Iran, but also help expose how it moves money, making it essential that banks eliminate silos between their Bank Secrecy Act and sanctions compliance teams for an integrated response, says Jonathan Harrington at Bradley Arant.

Read full article » | Save to favorites »

2nd Circ. EFAA Ruling Shifts Employer Litigation Strategy

In Diaz-Roa v. Hermes Law, the Second Circuit recently held that, under the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act, employers can't carve out nonharassment claims and send them to arbitration, which has implications for discovery, litigation costs and resolution strategy in EFAA-covered disputes, say attorneys at Krevolin Horst.

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

Brief

Fenwick & West To Match $235K Salary Scale For Associates

By Tracey Read

Fenwick & West LLP is reportedly the latest firm that will raise associate pay in the new year.

Read full article » | Save to favorites »

Ex-Fla. Bar Prez Accused Of Botching $350M Estate Claim

By Carolina Bolado

The widow of a Miami real estate investor is suing a former president of the Florida Bar for malpractice, claiming his botched representation left her without a claim to her late husband's $350 million estate.

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

4th Circuit Says W.Va. Daniel's Law Is Unconstitutional

By Rose Krebs

The Fourth Circuit on Tuesday affirmed a district court determination striking down as unconstitutional West Virginia's law restricting the publication of the home addresses and phone numbers of law enforcement and judicial officials, saying the district court applied "well-established" First Amendment principles.

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