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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Ex-DOJ, Commerce Dept. Leaders Open Export Controls Shop

By Jack Rodgers

Two former federal prosecutors who have spent years at the Justice Department and Commerce Department focusing on export controls, national security, sanctions and related matters are launching a new law firm in Washington, D.C., according to a Thursday announcement.

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DOJ Outlines New Corporate Fraud Enforcement Priorities

By Phillip Bantz

Federal prosecutors "must place great weight" on a new list of factors when considering potential charges in corporate fraud cases, including whether the matters involve government programs, threats to national security or immigration offenses, according to a memo released Thursday by the U.S. Department of Justice.

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Trump Announces Judicial Noms For 5th Circ., NC

By Courtney Bublé

President Donald Trump announced Thursday that he's nominating Todd Butler, a managing partner at Phelps Dunbar LLP, to serve as a judge on the Fifth Circuit. 

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Monthly Merger Review Snapshot

By Matthew Perlman

State enforcers settled their case challenging Paramount Skydance's planned $110 billion purchase of Warner Bros. Discovery, while the U.S. Department of Justice probes Fox's planned $22 billion deal for Roku and regulators review massive deals in the energy and railroad sectors.

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Judge Reinstates Rogoff As Seattle US Atty After Trump Firing

By Rachel Riley

A Washington federal judge issued an order from the bench on Thursday reinstating Roger Rogoff as U.S. attorney for the Western District of Washington, finding that President Donald Trump exceeded his authority when he fired him in July.

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Roundup

The Top In-House Hires Of September

By Michele Gorman

Legal department hires during the past month included high-profile appointments at MSG Sports, Nestle and the Associated Press. Here, Law360 Pulse looks at some of the top in-house announcements from September.

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Blackburn Holds Up White House's Tenn. Judge Pick

By Courtney Bublé

The White House is standing by its nominee for a federal judgeship in the Eastern District of Tennessee amid a holdup from Sen. Marsha Blackburn, R-Tenn., a White House official confirmed to Law360 on Thursday.

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Richards Layton Atty Confirmed To Join Del. Chancery Bench

By Rose Krebs

Delaware's Senate on Thursday confirmed a Richards Layton & Finger PA director to a 12-year term as a vice chancellor on the Chancery Court.

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FBT Gibbons Beats DQ Bid In Suit Over Cigna Payments

By George Woolston

A New Jersey state court judge has rejected a plastic surgery practice's bid to disqualify FBT Gibbons LLP from representing Cigna and a group of employer-sponsored health plans in its suit over the insurer's alleged underpayments, finding the bid appears more as an effort to gain an advantage rather than one to protect the interests of any client.

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Ex-DOJ Atty Reopens Practice, Starts Consulting Firm

By Alison Knezevich

A former U.S. Department of Justice official announced Thursday that he has returned to private practice at the law firm he founded.

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Wachtell Lipton Taps Ex-US Atty For SDNY From Cleary

By Andrea Keckley

Wachtell Lipton Rosen & Katz has hired the former chief U.S. prosecutor in Manhattan from Cleary Gottlieb Steen & Hamilton LLP following the departure of former co-chair and top corporate litigator William Savitt over the summer, Wachtell Lipton confirmed on Thursday.

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Trump Says Copyright Chief Can't Stay In Office Amid Appeal

By Adam Lidgett

The Trump administration is urging the D.C. Circuit to let it remove U.S. Copyright Office leader Shira Perlmutter, arguing that the U.S. Supreme Court's decision protecting Federal Reserve Gov. Lisa Cook for now does not entitle Perlmutter to remain in office while her firing challenge proceeds.

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UCLA Law Is Latest DOJ Target Over Race Bias In Admissions

By Dorothy Atkins

The U.S. Justice Department's Civil Rights Division accused the UCLA School of Law of discriminating against white and Asian students in its admissions process in a letter sent to the school's counsel Thursday, following multiple other similar letters that the DOJ sent to other higher-education institutions.

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