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Banking
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June 09, 2025
Mayer Brown Adds Banking Finance Partner In NY
A former Cadwalader Wickersham & Taft LLP counsel has moved to Mayer Brown LLP’s New York office as a banking and finance and collateralized loan obligations partner.
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June 09, 2025
TTAB Precedent Bars 'Repeats And Restates' Tactic In Appeals
The Trademark Trial and Appeal Board has rejected an application to register Princeton Equity Group for financial services, deeming the mark geographically descriptive in a precedential opinion warning applicants that arguments incorporated by reference in appeals will be considered forfeited in the future.
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June 09, 2025
Bank Gets First Dibs On Bankrupt Pa. Nursing Homes' Coffers
A bank that says it's owed nearly $48 million by a group of bankrupt Pennsylvania nursing homes will get first dibs on what's left in their accounts under a settlement approved by a federal bankruptcy judge Monday, despite objections from a supplier who said some of the money doesn't belong to the nursing homes.
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June 09, 2025
Feds Can Sell Russian Oligarch's Seized $230M Superyacht
A New York federal judge has determined the government can proceed with an auction of a superyacht that once belonged to a sanctioned Russian billionaire, rejecting an argument that a potential sale would undercut the vessel's full value.
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June 06, 2025
Senate Banking Bill Would Zero Out ÃÛÌÒÊÓÆµ's Fed Funding
U.S. Senate Banking Committee Republicans called Friday for eliminating the Consumer Financial Protection Bureau's Federal Reserve funding as part of their proposal package for the "One Big Beautiful" budget bill, a move that could effectively restructure the agency.
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June 06, 2025
Fed's Bowman Calls For Oversight Built On 'Pragmatism'
Federal Reserve Vice Chair for Supervision Michelle Bowman on Friday previewed a sweeping industry-friendly agenda to ease burdens on smaller lenders, overhaul supervisory ratings and reevaluate capital rules as the central bank's new top regulator, drawing immediate praise from banking industry groups.
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June 06, 2025
Circle's Smash IPO Could Pave Way For More Crypto Listings
Stablecoin issuer Circle's explosive debut will likely stimulate more crypto listings and possibly jolt the broader pipeline of initial public offerings, capital markets attorneys say.
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June 06, 2025
Supreme Court Limits Discovery In FOIA Suit Against DOGE
The U.S. Supreme Court halted discovery Friday into whether the Department of Government Efficiency is an agency subject to the Freedom of Information Act, but left the door open to future, more tailored inquiries about the inner workings of the initiative.
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June 06, 2025
Truist's Negligence Led To Hackers Hijacking Deal, Firm Says
Delaware-based Rhodunda Williams & Kondraschow LLC is claiming in a new lawsuit that hackers used the law firm's email to hijack a real estate transaction and have funds wired to their account at Truist Financial Corp., which lacked the needed security measures to prevent the alleged fraud.
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June 06, 2025
Synapse Trustee Says No Funds Remain To Trace Client Cash
The court-appointed trustee overseeing the Chapter 11 of fintech middleware firm Synapse Financial Technologies Inc. is asking a California bankruptcy judge to convert the case to a Chapter 7 liquidation, despite some customer funds remaining unaccounted for.
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June 06, 2025
Yotta Renews Post-Middleware Failure Claims Against Evolve
Yotta Technologies Inc., a fintech company caught in the implosion of now-bankrupt middleware company Synapse Financial Technologies Inc., has renewed claims it tossed earlier against its former partner Evolve Bank & Trust, accusing the bank of "running a Ponzi scheme" in connection with its alleged loss of millions of dollars in customer funds.
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June 06, 2025
DOJ Says More IT Workers Laundered Crypto For North Korea
The U.S. Department of Justice filed a civil complaint alleging information technology workers from North Korea evaded U.S. sanctions and accumulated millions in cryptocurrency for the benefit of the North Korean government.
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June 06, 2025
Ex-Wells Fargo Atty Wins Arbitration Bid In Trade Secrets Suit
A former senior in-house counsel for Wells Fargo Advisors won his bid to make the bank arbitrate claims he absconded with confidential information and coordinated a mass resignation of other staff when he left to work at a competing advisory firm.
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June 06, 2025
Dems Urge FHFA To Halt Trump's Fannie, Freddie Plans
A group of 13 Democratic U.S. senators, along with Sen. Bernie Sanders, urged the Federal Housing Finance Agency to put on hold efforts from President Donald Trump to end government conservatorship for Fannie Mae and Freddie Mac, stating in a letter that reprivatizing the entities "could dramatically increase costs for families seeking to purchase a home."
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June 06, 2025
Gemini Confidentially Files For IPO Amid Crypto Listings Buzz
Crypto exchange Gemini Space Station Inc. said Friday it confidentially filed for an initial public offering, marking a first step toward going public amid growing enthusiasm for crypto-related listings following stablecoin issuer Circle Internet Group Inc.'s blockbuster IPO.
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June 06, 2025
Strategy Raises Nearly $1B In Preferred Stock To Buy Bitcoin
Michael Saylor's Strategy Inc. said Friday it priced an estimated $1 billion initial public offering of preferred stock to bolster its growing stockpile of bitcoin, in a deal represented by Latham & Watkins LLP and placement agents' counsel Davis Polk & Wardwell LLP.
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June 06, 2025
Payment Co. Faces Claims For 'Shockingly Easy' Data Access
Payment systems company Fiserv Inc. got hit with a data security suit by a credit union that claims its online banking platform is full of security flaws the company has known about for years and that allow "shockingly easy" attacks by cybercriminals.
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June 05, 2025
'Sparse' OPM Record On Mass Firings Backs Win, Unions Say
A "sparse and self-serving" record provided by the U.S. Office of Personnel Management still shows the agency unlawfully directed federal agencies to fire probationary employees en masse, so a California federal court can reach a final decision now and "unwind" those terminations, a coalition including unions and advocacy groups said Thursday.
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June 05, 2025
Fed, OCC Face Bipartisan Call For Leverage Ratio Reform
Republican and Democratic lawmakers teamed up Thursday to urge federal banking regulators to revisit their bank leverage rules "with haste," pointing to U.S. Treasury market liquidity concerns and asking for details about potential adjustments under consideration.
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June 05, 2025
Citi Let Hackers Bleed Med School Of Over $800K, Suit Says
University of Medicine and Health Sciences has sued Citibank in New York federal court, accusing it of letting hackers drain its bank account even after staff repeatedly warned they had been locked out and feared a cyberattack.
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June 05, 2025
Conn. Atty Seeks Digital Data To Unmask Alleged ID Thief
Claggett Sykes & Garza LLC partner Andrew Garza told a Connecticut state court judge Thursday that someone used his identity to open bank accounts and file a fraudulent registration for his former law firm with the Secretary of the State's office, and he needs the court to order U.S. Bank and other companies to give him information that could reveal the perpetrator.
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June 05, 2025
Bradley Arant Expands With Texas Regional Bank's CLO
Bradley Arant Boult Cummings LLP has hired the former chief legal officer of Texas Regional Bank to bolster its banking and financial services practice group.
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June 05, 2025
How Trump's Pardons Could Sway Prosecutorial Discretion
As President Donald Trump dismantles a growing list of white collar criminal cases with a flurry of clemency grants early in his second term, erasing years of investigative and prosecutorial work with a stroke of his black Sharpie, experts worry his actions will have a chilling effect on prosecutorial decision-making.
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June 05, 2025
Ex-Wells Fargo Worker Says 'Herculean' Win Backs Fee Bid
An ex-Wells Fargo worker awarded $22.1 million in his case claiming he was fired out of disability bias defended his request for $1.5 million in attorney fees, telling a North Carolina federal court his counsel's "superior lawyering" and "herculean effort" justified the proposed award.
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June 05, 2025
High Court Drops Class Cert. Clarification Bid
The U.S. Supreme Court declined Thursday to weigh in on whether federal courts can certify classes that include uninjured members, holding it improperly agreed to hear a disability discrimination case against diagnostics company Labcorp that raised the important question.
Expert Analysis
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Series
Improv Makes Me A Better Lawyer
Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.
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How BigLaw Executive Orders May Affect Smaller Firms
Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.
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Opinion
Lawsuits Shouldn't Be Shadow Assets For Foreign Capital
Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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How To Accelerate Your Post-Attorney Career Transition
Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.
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3 Action Items For Innovators Amid Fintech Regulatory Pivot
As the federal banking agencies seek to smooth the way for banks to engage in crypto-related activities, banks and technology companies should take note of this new chapter in payments services, especially as leadership in digital financial technology becomes a national priority, says Jess Cheng at Wilson Sonsini.
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Opinion
GENIUS Act Can Bring Harmony To Crypto-Banking Discord
​​​​​​​By embracing crypto innovation while establishing appropriate guardrails, the so-called GENIUS Act charts a path forward that promotes financial inclusion and technological advancement without compromising stability or constitutional rights, says J.W. Verret at George Mason University's Antonin Scalia Law School.
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Series
Law School's Missed Lessons: Be An Indispensable Associate
While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.
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Mass. AG Emerges As Key Player In Consumer Protection
Through enforcement actions and collaborations with other states — including joining a recent amicus brief decrying the defunding of the Consumer Financial Protection Bureau — Massachusetts Attorney General Andrea Campbell has established herself as a thought leader for consumer protection and corporate accountability, say attorneys at Troutman Pepper.
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Series
Birding Makes Me A Better Lawyer
Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q1
Among the most notable developments in California banking in the first quarter of the year, regulators and legislators issued regulations interpreting debt collection laws, stepped up enforcement actions, and expanded consumer protections for those affected by wildfires, says Stephen Britt at Severson & Werson.
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Inside State AGs' Arguments Defending The ÃÛÌÒÊÓÆµ
Recent amicus briefs filed by a coalition of 23 attorneys general argue that the Trump administration's efforts to dismantle the Consumer Financial Protection Bureau will irreparably harm consumers in several key areas, making clear that states are preparing to fill in any enforcement gaps, say attorneys at Kelley Drye.
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Series
Adapting To Private Practice: From DOJ Leadership To BigLaw
The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.
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How The CRE Industry Is Adapting To Tariff Uncertainty
Amid uncertainty about pending tariffs and their potential ripple effects, including higher material costs, supply chain delays and tighter margins, commercial real estate industry players are focusing on strategic planning and risk mitigation, says Daniel Diaz Leyva at Day Pitney.
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Series
NY Banking Brief: All The Notable Legal Updates In Q1
The most noteworthy developments from the first quarter of the year in New York financial services include newly proposed regulations on overdraft fees, a groundbreaking settlement by the state attorney general, and a potentially precedent-setting opinion regarding the Electronic Fund Transfer Act, say attorneys at Quinn Emanuel.
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Law Firm Executive Orders Create A Legal Ethics Minefield
Recent executive orders targeting BigLaw firms create ethical dilemmas — and raise the specter of civil or criminal liability — for the government attorneys tasked with implementing them and for the law firms that choose to make agreements with the administration, say attorneys at Buchalter.