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Banking

  • June 26, 2025

    SEC Won't Modify More Biden-Era Off-Channel Settlements

    The U.S. Securities and Exchange Commission declined Thursday to rework another batch of Biden-era settlements tied to so-called off-channel communications on Wall Street, turning down bids that challenged some terms as unfair in light of more lenient later deals.

  • June 26, 2025

    Ex-NY Gov. Aide Hit With New PPE Fraud Scheme Charges

    A federal grand jury Wednesday tacked on charges against a former top aide to two New York governors in a case accusing her of secretly acting as a Chinese government agent, alleging she illegally steered government contracts during the COVID-19 pandemic to businesses she was secretly connected to.

  • June 26, 2025

    Barclays Can't Nix All Of Epstein Stock Fraud Suit, Judge Says

    A California federal judge has refused to dismiss two of three claims in a securities class action accusing Barclays and a former CEO of the bank of misleading investors about the executive's ties to Jeffrey Epstein, finding it plausible that certain public statements the company made were misleading.

  • June 26, 2025

    CSBS Issues Money Transmitter Guidance on Virtual Currency

    The Conference of State Bank Supervisors on Thursday released advisory guidance on how to consider virtual currency when calculating a licensee's tangible net worth under the Money Transmission Modernization Act, the first set of recommendations to be published under the CSBS board of directors' newly established process for issuing nonbinding, advisory guidance.

  • June 26, 2025

    Construction Cos. To Pay $13M For PPP Loan Statements

    Several companies have agreed to pay the federal government $13 million to resolve claims that they violated the False Claims Act by misstating their qualifications for Paycheck Protection Plan forgivable loans during the height of the COVID-19 pandemic, according to New Jersey's top federal prosecutor.

  • June 26, 2025

    GOP Sens. Aim To Finalize Crypto Market Bill By Sept. 30

    Republican senators pledged Thursday to finish their digital asset market structure legislation by the end of September, stressing the urgency of delivering on President Donald Trump's aim to make the U.S. the cryptocurrency capital of the world.

  • June 26, 2025

    'Pig Butchering' Scam Suit Dismissed For Good

    An Alabama resident who sued two cryptocurrency firms and their CEO, accusing them of running a $28 million "pig butchering" scam that defrauded victims by laundering stolen cryptocurrency through a complex network of wallets, has jointly agreed with the defendants to dismiss the suit with prejudice.

  • June 26, 2025

    Conn. Atty Can't Intervene In Ex-Partner's Digital Data Bid

    Connecticut Trial Firm LLC co-founder Ryan McKeen cannot intervene in a discovery bid launched by his former 50-50 law partner Andrew Garza because the proceeding is not a "civil action" under the relevant statute, a state court judge has ruled.

  • June 26, 2025

    Ex-Truist Banker Says Age Got Her Fired

    A Truist manager subjected a 57-year-old banker to unfair criticism and abruptly fired her, the former employee said in a wage and discrimination suit in Georgia federal court, adding that her direct manager resigned in part to protest her termination.

  • June 26, 2025

    NC Biz Court Stalls Foreclosure Sale On Development Project

    One hour before a foreclosure sale was set to take place, a North Carolina judge stepped in to block the auction after a property owner accused its partners on a 55-acre development of abusing lending, lien and foreclosure laws in a scheme against the owner.

  • June 26, 2025

    Ellenoff-Led Cantor Equity's Latest SPAC Raises $240M

    Cantor Equity Partners III, the latest blank-check company formed by Cantor Fitzgerald & Co., has raised $240 million by offering 24 million shares at $10 apiece and began trading on Thursday.

  • June 26, 2025

    Latham, Weil Lead PE-Backed Jefferson Capital's $150M IPO

    Private equity-backed consumer collections firm Jefferson Capital Inc. rallied in debut trading Thursday after pricing a $150 million initial public offering at the low point of its marketed range, represented by Latham & Watkins LLP and underwriters' counsel Weil Gotshal & Manges LLP.

  • June 25, 2025

    Fed Rolls Out Plan To Relax Leverage Rule For Biggest Banks

    The Federal Reserve on Wednesday kicked off an effort to ease a key leverage requirement for the biggest U.S. banks, advancing a highly anticipated proposal that officials said could free up bank balance-sheet capacity to bolster the U.S. Treasury market. 

  • June 25, 2025

    Ex-Venezuela Military Agency Head Cops To Narco-Terrorism

    A former Venezuela military intelligence director who was criminally charged alongside Venezuelan President Nicolás Maduro Moros for allegedly operating a drug cartel with a Colombian guerrilla group pled guilty Wednesday to conspiring to import cocaine into the U.S. and engaging in narco-terrorism for the group.

  • June 25, 2025

    Coinme Fined $300K In Landmark Calif. Enforcement Action

    Crypto kiosk operator Coinme Inc. has agreed to pay a $300,000 fine to resolve findings that it violated California's kiosk transaction limits and failed to include certain disclosures on receipts, the California Department of Financial Protection and Innovation announced Wednesday.

  • June 25, 2025

    11th Circ. Backs Conviction In Bank Reporting Evasion Case

    The Eleventh Circuit on Wednesday upheld the conviction of a man accused of trying to prevent regulators from learning about his large withdrawals from Wells Fargo accounts, rejecting his claims that prosecutors charged him with one offense but tried him for another.

  • June 25, 2025

    TD Bank Worker Cops To Taking Bribes To Open Accounts

    A former employee of TD Bank has pled guilty to accepting bribes for opening around 140 fraudulent bank accounts that led to checking account scams that cost the bank tens of thousands of dollars, the U.S. attorney's office in New Jersey announced Wednesday.

  • June 25, 2025

    10th Circ. Urged To Revive Post-Jarkesy FDIC Challenge

    A Kansas bank has urged the Tenth Circuit to revive its suit claiming the Federal Deposit Insurance Corp. violated the bank's right to a jury trial through an enforcement proceeding before an agency-appointed judge, arguing federal courts must be able to hear such constitutional claims.

  • June 25, 2025

    BofA Benefit Card Recipents Get Cert. In Covid Fraud MDL

    A California federal judge has granted certification to five different classes in a multidistrict litigation alleging Bank of America NA's security failures exposed their unemployment and disability benefits cards to fraud and led the bank to breach their contracts by freezing all accounts during the COVID-19 pandemic.

  • June 25, 2025

    PetroSaudi Slams Liquidators' Bid To Pause $380M Award Suit

    A PetroSaudi unit pursuing enforcement of a $380 million arbitral award has asked a California federal judge to deny a request by the company's liquidators to pause a federal government suit targeting the award over its alleged connection to funds embezzled from Malaysia.

  • June 25, 2025

    Citi Accused Of Complicity In $20M NFT 'Pig Butchering' Scam

    Citibank NA has been hit with a lawsuit in New York federal court by a Texas man accusing it of ignoring red flags that allowed scammers to use accounts at the bank to siphon nearly $4 million from his family trusts after he fell for a social media romance scam involving non-fungible tokens.

  • June 25, 2025

    NC Woman Gets 5 Years For Federal Student Aid Scheme

    A North Carolina woman was sentenced Tuesday to five years in prison and ordered to pay $3.6 million to the U.S. Department of Education after pleading guilty to wire fraud charges alleging the theft of millions from the federal student loan aid program.

  • June 25, 2025

    Adviser's $300M Ponzi Dismissal Bid 'Specious,' Investor Says

    An investor who was roped into what the federal government has called a $300 million Ponzi scheme asked a Georgia federal judge Wednesday to keep their suit alive, arguing they shouldn't be subject to heightened pleading standards for a fraud claim they never made against a Peach State financial adviser.

  • June 25, 2025

    3rd Circ. Upholds $3.2M Atty Fee In Wawa Breach Suit

    The Third Circuit on Wednesday upheld a $3.2 million fee award for Berger Montague and Fine Kaplan & Black in the settlement for consumers affected by a 2019 Wawa data breach, ruling Wednesday that the district court judge correctly found no improper "side deals" or collusion at class members' expense.

  • June 25, 2025

    O'Melveny Forms Special Credit And Liability Mgmt. Group

    O'Melveny & Myers LLP has launched a special credit and liability management group, announcing the move Tuesday as a reflection of "growing client demand for integrated, end-to-end support across the credit cycle, particularly as capital solutions become increasingly complex and bespoke."

Expert Analysis

  • 11th Circ. Ruling Warns Parties To Follow Arbitral Rules

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    The Eleventh Circuit's recent decision in Merritt Island Woodwerx v. Space Coast is important for companies utilizing arbitration clauses because it clearly demonstrates the court's intent to hold noncompliant parties responsible in federal court — regardless of subsequent efforts to cure, says Ed Mullins at Reed Smith.

  • How The DOJ Is Redesigning Its Approach To Digital Assets

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    Two key digital asset enforcement policy pronouncements narrow the Justice Department's focus on threats like fraud, terrorism, trafficking and sanctions evasion and dial back so-called regulation by prosecution, but institutions prioritizing compliance must remember that the underlying statutory framework hasn't changed, say attorneys at Blank Rome.

  • At 'SEC Speaks,' Leaders Frame New Views

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    At the Practising Law Institute's recent SEC Speaks conference, U.S. Securities and Exchange Commission leadership highlighted the agency's significant priority changes, including in enforcement, crypto and artificial intelligence, say attorneys at Perkins Coie.

  • The Ins And Outs Of Consensual Judicial References

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    As parties consider the possibility of judicial reference to resolve complex disputes, it is critical to understand how the process works, why it's gaining traction, and why carefully crafted agreements make all the difference, say attorneys at Pillsbury.

  • Calif. Digital Assets Proposal Provides Only Partial Clarity

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    Recently proposed regulations under California's Digital Financial Assets Law answer some important questions about the new regime, particularly regarding its interaction with the state's money transmission law, but many key compliance questions remain, say attorneys at Stinson.

  • Opinion

    The BigLaw Settlements Are About Risk, Not Profit

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    The nine Am Law 100 firms that settled with the Trump administration likely did so because of the personal risk faced by equity partners in today's billion‑dollar national practices, enabled by an ethics rule primed for modernization, says Adam Forest at Scale.

  • Fla. Bill May Curb Suits Over Late-Night Collections Emails

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    A recently passed Florida bill exempting email communications from the Florida Consumer Collection Practices Act's quiet hours ban may significantly reduce frivolous lawsuits aimed at creditors and debt collectors who use email communications to collect outstanding balances from consumers, say attorneys at Holland & Knight.

  • Series

    Brazilian Jiujitsu Makes Me A Better Lawyer

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    Competing in Brazilian jiujitsu – often against opponents who are much larger and younger than me – has allowed me to develop a handful of useful skills that foster the resilience and adaptability necessary for a successful legal career, says Tina Dorr of Barnes & Thornburg.

  • Birthright Ruling Could Alter Consumer Financial Litigation

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    The U.S. Supreme Court’s upcoming decision about the validity of the nationwide injunctions in the birthright citizenship cases, argued on May 15, could make it much harder for trade associations to obtain nationwide relief from the Consumer Financial Protection Bureau's enforcement of invalid regulations, says Alan Kaplinsky at Ballard Spahr.

  • Energy Order Brings Risks For Lenders And Borrowers Alike

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    A recent executive order directing the attorney general to submit a report next month with recommendations for halting enforcement of state laws the administration says are hampering energy resources presents risks for lenders and borrowers using state-generated carbon credits, but proactive steps now can help insulate against adverse consequences, say attorneys at Faegre Drinker.

  • Series

    Power To The Paralegals: An Untapped Source For Biz Roles

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    Law firms looking to recruit legal business talent should consider turning to paralegals, who practice several key skills every day that prepare them to thrive in marketing and client development roles, says Vanessa Torres at Lowenstein Sandler.

  • Fledgling Crypto ATM Regs May Be Due For A Growth Spurt

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    As cryptocurrency ATM use and availability become more prevalent within the U.S. financial services ecosystem, states — only a few of which currently have a crypto ATM framework — may need to consider expanding legislation and regulation to accelerate consumer fraud protection practices, says Jason Noto at Polsinelli.

  • Series

    Playing Poker Makes Me A Better Lawyer

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    Poker is a master class in psychology, risk management and strategic thinking, and I’m a better attorney because it has taught me to read my opponents, adapt when I’m dealt the unexpected and stay patient until I'm ready to reveal my hand, says Casey Kingsley at McCreadyLaw.

  • Opinion

    Why It's Time To Retire The Efficient Market Hypothesis

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    As agentic artificial intelligence systems increasingly affect financial markets, the efficient market hypothesis no longer offers a viable foundation for legal and regulatory engagement, and a new theoretical foundation is needed, say Zachary Brenner, a student at California Western School of Law, and attorney Gary Brenner.

  • Key Aspects Of FDIC's Resolution Planning FAQ

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    The Federal Deposit Insurance Corp.'s recent FAQ on changes to its resolution plan rule ease burdensome requirements for some large institutions and exempt others from discussion of franchise components, making it easier for banks to finalize submissions before the July 1 deadline, say attorneys at Moore & Van Allen.

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