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.
Law360
Fintech
FRIDAY, JULY 11, 2025 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

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.

Proposed Rule attached | Read full article » | Save to favorites »

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.

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

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.

Read full article » | Save to favorites »

POLICY & REGULATION

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.

Read full article » | Save to favorites »

ENFORCEMENT & COMPLIANCE

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.

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

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.

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

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.

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

LITIGATION

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.

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

EXPERT ANALYSIS

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.

Read full article » | Save to favorites »

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.

Read full article » | Save to favorites »

LEGAL INDUSTRY

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.

Read full article » | Save to favorites »

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.

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

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.

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

'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.

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

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.

Read full article » | Save to favorites »

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.

Read full article » | Save to favorites »

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.

Read full article » | Save to favorites »

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.

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

Promo that reads Law360 400 Promo that reads 2025 Law360 Titans of the Plaintiffs Bar

COMPANIES IN TODAY'S NEWS

Amazon.com Inc.

American Civil Liberties Union

American Civil Liberties Union of Massachusetts

American Civil Liberties Union of New Hampshire

Andreessen Horowitz LLC

Apple Inc.

Asian American Center for Advancing Justice

Bitfury Group Ltd.

BlackRock Inc.

Capital One Financial Corp.

Discover Bank

Discover Financial Services Inc.

Harvard University

LinkedIn Corp.

Los Angeles Times

M&T Bank Corp.

MasterCard Inc.

NAACP Legal Defense & Educational Fund Inc.

PYMNTS

Promontory Financial Group LLC

SIFMA

Space Exploration Technologies Corp.

Tesla Inc.

TripAdvisor Inc.

Washington & Lee University

LAW FIRMS IN TODAY'S NEWS

Arnold & Porter

Cafferty Clobes

Covington & Burling

Davis Wright Tremaine

Groom Law Group

Gustafson Gluek

Holland & Hart

Holwell Shuster

Hueston Hennigan

Jones Day

Korein Tillery

Latham & Watkins

McDermott Will & Emery

Morrison & Foerster

Paul Weiss

Robins Kaplan

Scott&Scott

Seyfarth Shaw

Skadden Arps

Treanor Law Firm

GOVERNMENT AGENCIES IN TODAY'S NEWS

Commonwealth of Massachusetts

Consumer Financial Protection Bureau

Department of Financial Protection & Innovation

Federal Deposit Insurance Corp.

Federal Reserve System

Federal Trade Commission

National Labor Relations Board

New York Department of Financial Services

Office of the Comptroller of the Currency

Supreme Court of Nevada

Tennessee Attorney General's Office

U.S. Attorney's Office

U.S. Attorney's Office for the District of Massachusetts

U.S. Attorney's Office for the Southern District of New York

U.S. Department of Education

U.S. Department of Homeland Security

U.S. Department of Justice

U.S. Department of State

U.S. District Court for the District of Columbia

U.S. District Court for the Southern District of Illinois

U.S. District Court for the Southern District of New York

U.S. District Court for the Western District of Washington

U.S. District Court of the District of New Hampshire

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

United States District Court for the District of Montana