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Compliance
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May 27, 2025
Bank Groups Agree To Pause Of Fed Stress Test Suit
Major banking trade groups and the board of governors of the U.S. Federal Reserve System came together to ask an Ohio federal judge to pause their dispute over the board's big bank stress test practices, telling the court that the trade groups' concerns are being addressed.
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May 27, 2025
DC Circ. Backs FERC In NY Grid Upgrade Cost Fight
The D.C. Circuit on Tuesday upheld the Federal Energy Regulatory Commission's refusal to allow New York utilities to earn investment returns from grid upgrades, saying the agency reasonably concluded that shifting from the current nonprofit approach was unwarranted.
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May 27, 2025
Wireless Mics Need Fewer Reg Restrictions, FCC Told
A group that advocates for making more spectrum available for wireless microphones has its own ideas about what regulations the Federal Communications Commission should be cutting, starting with two areas it says are hindering the wireless mic industry.
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May 27, 2025
DOJ Pushes Back Against Agri Stats Recusal Bid
The U.S. Department of Justice told a Minnesota federal judge Friday there is no reason to recuse himself from a case accusing Agri Stats of helping meat processors exchange sensitive information because the clerk who allegedly created a conflict is not working on the case.
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May 27, 2025
Hyundai Should Face DOL Child Labor Suit, Judge Says
A federal magistrate judge in Alabama said it's not totally clear that Hyundai, a manufacturing company and a staffing firm stopped employing minors after the U.S. Department of Labor sued them for hiring a 13-year-old, recommending that the companies face the agency's claims.
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May 27, 2025
'I Need To Be Careful': Judge Wades Into Musk-Firm Conflict
A New York federal judge questioned his authority to weigh in on Bernstein Litowitz Berger & Grossmann LLP's hiring decisions after it sought permission to employ a former U.S. Securities and Exchange Commission attorney who Elon Musk claims could disadvantage him in a shareholder lawsuit, asking the firm and Musk to brief him on what may be an issue of first impression.
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May 27, 2025
Feds Can't Turn Off NY Funding In Congestion Pricing Fight
A Manhattan federal judge on Tuesday temporarily blocked as "arbitrary and capricious" a Trump administration threat to withhold federal transportation funds from New York as part of a White House effort to undo New York City's congestion pricing program.
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May 27, 2025
High Court Passes On Axed $563M BMO Harris Ponzi Verdict
The U.S. Supreme Court on Tuesday declined to review the Eighth Circuit's decision to strike down a $563 million jury verdict against BMO Harris NA over claims that a bank it acquired had aided and abetted Thomas J. Petters' multibillion-dollar Ponzi scheme.
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May 23, 2025
Law360 Reveals Titans Of The Plaintiffs Bar
This past year, a handful of attorneys secured billions of dollars in settlements and judgments for both classes and individual plaintiffs against massive companies and organizations like Facebook, Dell, the National Association of Realtors, Johnson & Johnson, UFC and Credit Suisse, earning them recognition as Law360's Titans of the Plaintiffs Bar for 2025.
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May 23, 2025
ÃÛÌÒÊÓÆµ Calls Open Banking Rule 'Unlawful' In Pivot Against It
The Consumer Financial Protection Bureau signaled Friday that it will now seek to vacate its Biden-era open banking rule, siding with the banking industry in an ongoing legal challenge to the rule even as a major fintech industry group is pledging to keep defending it.
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May 23, 2025
NY Judge Axes $110M Mango Markets Trader's Fraud Verdict
A Manhattan federal judge on Friday granted a crypto trader's request to overturn a conviction for defrauding platform Mango Markets out of roughly $110 million, finding that prosecutors didn't link his conduct to New York and failed to show he duped the platform.
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May 23, 2025
5th Circ. Sides With Texas Library In Book Ban Redo
The Fifth Circuit gave a green light for a Texas public library to toss several books that deal with topics such as sexuality and racism, labeling the arguments challenging the library's decision to remove the challenged literature as "over-caffeinated" in a Friday en banc opinion.
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May 23, 2025
SEC Cracks Door For Retail Entry Into Private Funds
The U.S. Securities and Exchange Commission is exploring increasing retail access to private funds, marking one of several pivotal shifts the watchdog is considering that would widen public exposure to the vast but less regulated world of private markets.
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May 23, 2025
Real Estate Recap: Opp Zones, SFR Sector, NYC Casinos
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including how the "Big, Beautiful Bill" would tweak rules for opportunity zones, the prognosis for the single-family rental sector, and a look at the seven remaining bids for casino licenses in New York City.
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May 23, 2025
Employment Authority: Pay Lessons From 'Mad Men'
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with the pay lessons "Mad Men" provided; how a recent Fifth Circuit decision that not accommodating a disabled worker can violate the Americans with Disabilities Act, even if no harm results from that decision, deepens a split among appeals courts; and how a National Labor Relations Board charge accusing a legal aid union of discriminating against Jewish members tests the bounds of unions' obligations.
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May 23, 2025
X Says Media Matters Must Pay For 'Unjustified' Transfer Bid
Social media giant X Corp. wants Media Matters for America sanctioned for waiting more than a year to try to transfer X Corp.'s lawsuit against it, and told a Texas federal judge Wednesday that the left-leaning media watchdog must cover the costs of defending against the unsuccessful motion.
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May 23, 2025
Trump Says 'It's Time For Nuclear' And Orders New Reactors
President Donald Trump said Friday that he wants to revive the nation's nuclear power industry to serve defense and artificial intelligence needs, and ordered the U.S. Department of Energy to "eliminate or expedite" environmental reviews so new reactors can come online more quickly.
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May 23, 2025
Banking Groups Want SEC To Pull Cyber Disclosure Mandates
A group of banking trade associations has called on the U.S. Securities and Exchange Commission to rescind a Biden-era mandate requiring public companies to disclose certain cybersecurity incidents, arguing it increases companies' risk when they fall victim to cyberattacks.
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May 23, 2025
Judge Extends Block On Trump's Government Layoffs
A California federal judge has extended her block of President Donald Trump's executive order directing layoffs at federal agencies, saying a coalition of unions, nonprofits and cities has shown it is likely to succeed in showing the order exceeded the president's authority.
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May 23, 2025
'NJ Weedman' Says City Hall Protest Is Protected Speech
A Garden State cannabis advocate known as "NJWeedman" urged a New Jersey federal judge to let his First Amendment suit against the mayor of Trenton proceed, arguing the city targeted his pot-themed ventures after he projected a "Batman-like" protest message on City Hall.
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May 23, 2025
Coinbase Investor Sues Over Hack Fallout, UK Fine
A Coinbase stockholder brought a proposed class action against the crypto exchange, claiming she and other investors felt the fallout after the firm suffered a headline-grabbing data breach and an earlier run-in with a U.K. regulator.
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May 23, 2025
DOJ, Boeing Reach Deal To Drop 737 Max Criminal Case
The U.S. Department of Justice said Friday that it won't criminally prosecute Boeing over the deadly 737 Max crashes after reaching a deal that saves the American aerospace giant from being branded a corporate felon in exchange for approximately $1.1 billion in fines, penalties and victims compensation.
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May 23, 2025
X Alleges Vietnamese Group Is Exploiting Engagement Metrics
X Corp. on Thursday filed suit in Texas federal court against several Vietnamese nationals it alleges run a cybercrime ring that farms money using computer-generated content and manipulating its social media platform's engagement metrics through bots.
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May 23, 2025
Texas Justices Answer 5th Circ. Query On State Usury Laws
The Texas Supreme Court on Friday concurred with a credit card industry firm that sued a lender over its "usurious" interest charges, telling the Fifth Circuit that state law holds that the maximum permissible interest on a loan is based on the declining principal balance, not the initial total principal amount.
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May 23, 2025
Groups Look To Block Trump's Monument Fishing Order
Three conservation groups are challenging a Trump administration proclamation that will open up a 400,000-square-mile Hawaiian national marine monument to commercial fishing, saying the president exceeded his Antiquities Act and constitutional authority in doing so.
Expert Analysis
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What We Lost After SEC Eliminated Regional Director Role
Former U.S. Securities and Exchange Commission Regional Director Marc Fagel discusses the recent wholesale elimination of the regional director position, the responsibilities of the job itself and why discarding this role highlights how the appearance of creating a more efficient agency may limit the SEC's effectiveness.
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Mass. Suit Points To New Scrutiny For Home Equity Contracts
The Massachusetts attorney general’s recent charge that a lender sold unregulated reverse mortgages shows more regulators are scrutinizing mortgage alternatives like home equity contracts, but a similar case in the Ninth Circuit suggests more courts need to help develop a consensus on these products' legality, say attorneys at Weiner Brodsky.
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EEOC Suits Show Cos. Shouldn't Ax Anti-Harassment Efforts
Companies shouldn't be so quick to eliminate anti-harassment programs in response to the U.S. Equal Employment Opportunity Commission's guidance cautioning against unlawful diversity, equity and inclusion programs, as recent enforcement actions demonstrate that the agency still plans to hold employers accountable for addressing sexual harassment, says Ally Coll at the Purple Method.
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Reading Tea Leaves In High Court's Criminal Law Decisions
The criminal justice decisions the U.S. Supreme Court will announce in the coming weeks will reveal whether last term’s fractured decision-making has continued, an important data point as the justices’ alignment seems to correlate with who benefits from a case’s outcome, says Sharon Fairley at the University of Chicago Law School.
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$38M Law Firm Settlement Highlights 'Unworthy Client' Perils
A recent settlement of claims against law firm Eckert Seamans for allegedly abetting a Ponzi scheme underscores the continuing threat of clients who seek to exploit their lawyers in perpetrating fraud, and the critical importance of preemptive measures to avoid these clients, say attorneys at Lockton Companies.
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Hints Of Where Enforcement May Grow Under New ÃÛÌÒÊÓÆµ
Though the Consumer Financial Protection Bureau has significantly scaled back enforcement under the new administration, states remain able to pursue Consumer Financial Protection Act violators and the ÃÛÌÒÊÓÆµ seems set to enhance its focus on predatory loans to military members and fraudulent debt collection and credit reporting practices, say attorneys at MoFo.
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Only Certainty About FAR Reform Order Is Its Uncertainty
The president’s recent order overhauling the Federal Acquisition Regulation, which both contractors and agencies rely on to ensure predictability and consistency in federal procurement, lacks key details about its implementation, which will likely eliminate many safeguards that ensure contractors are treated fairly and that procurements are awarded in a reasonable manner, say attorneys at Miles & Stockbridge.
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Maintaining Legal Compliance For GenAI In Life Sciences
As companies continue to implement generative artificial intelligence to enhance all phases of drug discovery, they must remain mindful of legal, regulatory and practical considerations as best practices in this space emerge and evolve, say attorneys at Sullivan & Cromwell.
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Series
Teaching Business Law Makes Me A Better Lawyer
Teaching business law to college students has rekindled my sense of purpose as a lawyer — I am more mindful of the importance of the rule of law and the benefits of our common law system, which helps me maintain a clearer perspective on work, says David Feldman at Feldman Legal Advisors.
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SEC's Crypto Statement Offers Clarity On Disclosures
While the crypto industry awaits a definitive rule from the U.S. Securities and Exchange Commission on whether a crypto-asset is a security, its recent guidance provides a road map for registrants seeking to comply with current disclosure requirements and shows the commission is working toward a comprehensive regulatory framework, say attorneys at Debevoise.
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Disparate Impact Theory Lives On Despite Trump Order
Although President Donald Trump's recent executive order directed federal agencies to stop pursuing disparate impact claims, employers may still be targeted by private litigants' claims and should therefore stay alert to the risk that their practices may produce a disparate impact on members of a protected group, say attorneys at Duane Morris.
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Choosing A Road To Autonomous Vehicle Compliance
As autonomous vehicle manufacturers navigate the complex U.S. regulatory landscape, they may opt for different approaches to following federal, state and local rules and laws, as they balance the tradeoffs between innovation, compliance and speed of deployment, say attorneys at Sidley.
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Navigating The Expanding Frontier Of Premerger Notice Laws
Washington's newly enacted law requiring premerger notification to state enforcers builds upon a growing trend of state scrutiny into transactions in the healthcare sector and beyond, and may inspire other states to enact similar legislation, say attorneys at Simpson Thacher.
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Jurisdictional Issues At Play In 9th Circ.'s FCA Trade Case
A decision by the Ninth Circuit in Island Industries v. Sigma Corp. could result in the U.S. Court of International Trade’s exclusive jurisdiction over trade-related FCA cases, a big shift in the enforcement landscape just as tariffs take center stage in trade policy, say attorneys at Haynes Boone.
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Evolving Federal Rules Pose Further Obstacles To NY LLC Act
Following the Financial Crimes Enforcement Network's recent changes to beneficial ownership information reporting under the federal Corporate Transparency Act — dramatically reducing the number of companies required to make disclosures — the utility of New York's LLC Transparency Act becomes less apparent, say attorneys at Pillsbury.