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Featured
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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September 11, 2025
AI Co. Employee Says Complaining Of Sex Bias Got Her Fired
An artificial intelligence software developer fired a data scientist after she complained that colleagues had minimized her contributions, held her to different standards than male co-workers and subjected her to unwanted sexual advances, according to a lawsuit filed in New York federal court.
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September 10, 2025
Latham-Led Stablecoin Firm Figure Prices Upsized $788M IPO
Stablecoin issuer Figure Technology Solutions began trading Thursday after it priced an upsized initial public offering that raised $787.5 million above its marketed range, in an offering guided by Latham & Watkins LLP and Davis Polk & Wardwell LLP.
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September 10, 2025
3rd Circ. Questions NJ's Bid To Block Kalshi's Sports Bets
The Third Circuit seemed prepared on Wednesday to block New Jersey from enforcing a sports gambling ban on trading platform KalshiEx, with at least one judge arguing the U.S. Commodity Futures Trading Commission's authority to regulate the event contracts space "seems quite broad."
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September 10, 2025
Trump To Take Fed Gov. Cook's Removal Case To DC Circ.
President Donald Trump on Wednesday told a Washington, D.C., federal judge that the government will appeal the judge's decision granting a temporary win to Federal Reserve Gov. Lisa Cook in her challenge to the president's attempt to remove her from her position.
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September 10, 2025
Trump's Pick For Fed Board Seat Moves Ahead To Full Senate
The U.S. Senate Banking Committee on Wednesday endorsed President Donald Trump's bid to install Stephen Miran, a top White House economist, at the Federal Reserve, advancing his nomination over Democratic objections that he would be a Trump loyalist rather than an independent central banker.
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September 10, 2025
Private Equity Fund CEO Charged In $62.5M Ponzi-Like Fraud
The founder of a private equity fund was charged with wire fraud in California federal court for allegedly scamming about $62.5 million from 500 investors through sham promissory notes that purported to yield investment returns up to 15%, while using investors' cash to pay interest to other investors in a Ponzi-like scheme.
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September 10, 2025
Taft Expands Fintech Team By Hiring Lowenstein Sandler Atty
Taft Stettinius & Hollister LLP continued to expand its financial technology practice with the recent addition of an attorney who moved his practice to Taft's New York office after nearly three years with Lowenstein Sandler LLP.
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September 10, 2025
SEC Taps Gibson Atty To Head Corporation Finance Division
The U.S. Securities and Exchange Commission on Wednesday named the co-chair of Gibson Dunn & Crutcher LLP's securities regulation practice as the new leader of its Division of Corporation Finance, which is responsible for writing rules and providing guidance to publicly traded companies on shareholder disclosure matters, among other things.
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September 10, 2025
Kirkland Adds Fintech Regulatory Partner From McDermott
Kirkland & Ellis LLP has enhanced its fintech regulatory compliance capabilities in New York with the addition of an experienced corporate partner who joins the firm from McDermott Will & Schulte.
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September 09, 2025
Fed Reserve Gov. Cook Wins Removal Reprieve For Now
Federal Reserve Gov. Lisa Cook, for now, can stay on the Fed's board while she challenges President Donald Trump's attempt to strip her of her position, a D.C. federal judge ruled late Tuesday, saying Cook has "made a strong showing" that her purported removal was likely illegal.
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September 09, 2025
Block Beats Investor Action Over 2021 Customer Data Breach
A Manhattan federal judge Tuesday knocked out consolidated litigation alleging Block's stock price plummeted after the financial technology company dilly-dallied disclosing a 2021 data breach stemming from a former employee's alleged theft of customer information, saying the complaint doesn't allege Block made misleading statements or knew it was misleading investors.
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September 09, 2025
Davis Polk Leads Klarna's Above-Range $1.4B IPO
Swedish fintech startup Klarna, led by Davis Polk & Wardwell LLP, priced its highly anticipated initial public offering above its range on Tuesday, raising $1.37 billion, a move that comes months after its public debut was paused amid backlash to President Donald Trump's tariff announcement in April.Â
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September 09, 2025
FDIC Eases Standards For Lifting Cease-And-Desist Orders
The Federal Deposit Insurance Corp. is giving banks a quicker potential path out of its doghouse, rolling out a policy change that allows more flexibility to close out enforcement orders before firms have finished satisfying all their terms.
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September 09, 2025
OCC Taps Cravath Atty As Principal Deputy Chief Counsel
A former Cravath Swaine & Moore LLP corporate attorney has been tapped to serve as the principal deputy chief counsel of the Office of the Comptroller of the Currency, while a longtime agency official has been promoted to oversee its newly elevated chartering and licensing process, the regulator said Tuesday.
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September 09, 2025
Ex-SEC Trading And Markets Special Counsel Joins Skadden
Skadden Arps Slate Meagher & Flom LLP has added a former U.S. Securities and Exchange Commission attorney to its white collar defense and regulatory team in its Washington, D.C., office, the firm announced Tuesday.
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September 09, 2025
Ky. Judge Pauses Suit Over ÃÛÌÒÊÓÆµ's Small-Biz Loan Rule
A Kentucky federal judge on Tuesday paused a banking industry lawsuit challenging the Consumer Financial Protection Bureau's small business lender data collection rule while the agency works to revamp the Biden-era measure.
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September 09, 2025
DC Says Crypto ATM Operator Profits Off Senior Scams
Athena Bitcoin, one of the country's largest operators of so-called bitcoin automated teller machines, has been sued by the D.C. attorney general for allegedly charging undisclosed fees on deposits it knew were often the result of scams, for failing to implement adequate anti-fraud measures, and for refusing to refund scam victims.
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September 09, 2025
FinCEN Chief Signals Slimmer Bank Reporting On The Way
A top U.S. financial crime watchdog told lawmakers Tuesday that federal officials could soon move to narrow transaction reporting requirements for financial institutions as part of a broader effort to ease anti-money laundering compliance burdens for industry.
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September 09, 2025
Heartland To Pay $18M For Charges On School Lunch Cards
Heartland Payment Systems LLC will pay $18.25 million to approximately 5.6 million parents and caretakers to resolve a class action alleging it levied unfair surcharges when they deposited lunch money onto school-sponsored reloadable cards used by their kids, according to a final settlement approval motion filed Monday in Florida federal court.Â
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September 09, 2025
Coinbase Vendor Called 'Major' Cog In 'Insider Bribery' MDL
A Manhattan federal judge said Tuesday that a Texas-based Coinbase vendor called TaskUs will be a "major participant" in multidistrict litigation centralized in New York over allegations that thousands of Coinbase customers were victimized in a bribery-fueled data compromise.
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September 09, 2025
Lutnick Picks Ex-DOJ, TM Leaders To Advise USPTO
U.S. Secretary of Commerce Howard W. Lutnick has appointed high-profile members to the U.S. Patent and Trademark Office's public advisory committees, nearly six months after clearing them out.
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September 09, 2025
Why SEC, CFTC Crypto Rules 'Sprint' Could Be A Marathon
The White House-backed push to entice the crypto industry's return to the U.S. with clearer rules is off to a quick start, but experts say the process could drag on longer than anticipated as regulators navigate competing interests of embracing the evolving digital assets market and protecting consumers.
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September 09, 2025
Career SEC Attorney Joins Latham's DC Finance Practice
Latham & Watkins LLP has hired the former chief of the U.S. Securities and Exchange Commission's Office of Structured Finance, who is joining the firm after more than 20 years at the agency, to work with those structured finance clients.
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September 08, 2025
Cleo AI Must Face Military Lending Suit Over Cash Advances
Cleo AI must face an Army staff sergeant's proposed class action alleging it employs predatory lending practices through its cash advances that exceed the Military Lending Act's annual percentage rate cap on consumer credit, after a Washington federal judge said Monday the advances constitute as "credit" under the statute.Â
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September 08, 2025
Split 4th Circ. Axes States' Challenge To Trump Admin Layoffs
A split Fourth Circuit panel held Monday that a coalition of states doesn't have standing to sue the Trump administration over the mass firing of thousands of probationary government employees, finding that it was the employees — not the states — who "suffered the brunt of the harm" underlying the case.
Expert Analysis
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The Consequences Of OCC's Pivot On Disparate Impact
The Office of the Comptroller of the Currency's recent move to stop scrutinizing facially neutral lending policies that disproportionately affect a protected group reflects the administration's ongoing shift in assessing discrimination, though this change may not be enough to dissuade claims by states or private plaintiffs, says Travis Nelson at Polsinelli.
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Series
Being A Professional Wrestler Makes Me a Better Lawyer
Pursuing my childhood dream of being a professional wrestler has taught me important legal career lessons about communication, adaptability, oral advocacy and professionalism, says Christopher Freiberg at Midwest Disability.
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How FDIC Appeals Plan Squares With Fed, OCC Processes
The Federal Deposit Insurance Corp.'s recent proposal to revise its appeals process merits a fresh comparison to the appeals systems of the Federal Reserve and Office of the Comptroller of the Currency, and would provide institutions with greater transparency and independence, say attorneys at Alston & Bird.
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SEC Rulemaking Radar: The Debut Of Atkins' 'New Day'
The U.S. Securities and Exchange Commission's regulatory flex agenda, published last week, demonstrates a clear return to appropriately tailored and mission-focused rulemaking, with potential new rules applicable to brokers, exchanges and trading, among others, say attorneys at Goodwin.
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Series
Law School's Missed Lessons: Adapting To The Age Of AI
Though law school may not have specifically taught us how to use generative artificial intelligence to help with our daily legal tasks, it did provide us the mental building blocks necessary for adapting to this new technology — and the judgment to discern what shouldn’t be automated, says Pamela Dorian at Cozen O'Connor.
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Ch. 11 Ruling Voiding $2M Litigation Funding Sends A Warning
A recent Texas bankruptcy court decision that a postconfirmation litigation trust has no obligations to repay a completely drawn down $2 million litigation funding agreement serves as a warning for estate administrators and funders to properly disclose the intended financing, say attorneys at Kleinberg Kaplan.
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What To Expect As Trump's 401(k) Order Materializes
Following the Trump administration’s recent executive order on 401(k) plan investments in alternative assets like cryptocurrencies and real estate, the U.S. Department of Labor and the U.S. Securities and Exchange Commission will need to answer several outstanding questions before any regulatory changes are implemented, say attorneys at Cleary.
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Demystifying The Civil Procedure Rules Amendment Process
Every year, an advisory committee receives dozens of proposals to amend the Federal Rules of Civil Procedure, most of which are never adopted — but a few pointers can help maximize the likelihood that an amendment will be adopted, says Josh Gardner at DLA Piper.
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Evaluating The SEC's Rising Whistleblower Denial Rate
The rising trend of U.S. Securities and Exchange Commission whistleblower award claim denials represents a departure from the SEC's previous track record and may reflect a more conservative approach to whistleblower award determinations under the current administration, say attorneys at Troutman Pepper.
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State Crypto Regs Diverge As Federal Framework Dawns
Following the Genius Act's passage, states like California, New York and Wyoming are racing to set new standards for crypto governance, creating both opportunity and risk for digital asset firms as innovation flourishes in some jurisdictions while costly friction emerges in others, say attorneys at Sheppard Mullin.
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Parenting Skills That Can Help Lawyers Thrive Professionally
As kids head back to school, the time is ripe for lawyers who are parents to consider how they can incorporate their parenting skills to build a deep, meaningful and sustainable legal practice, say attorneys at Alston & Bird.
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Series
Teaching Trial Advocacy Makes Us Better Lawyers
Teaching trial advocacy skills to other lawyers makes us better litigators because it makes us question our default methods, connect to young attorneys with new perspectives and focus on the needs of the real people at the heart of every trial, say Reuben Guttman, Veronica Finkelstein and Joleen Youngers.
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What New ÃÛÌÒÊÓÆµ Oversight Limits Would Mean For 4 Markets
As the Consumer Financial Protection Bureau continues to centralize its resources, proposals to alter the definition of larger market participants in the automobile financing, international money transfer, consumer reporting and consumer debt collection markets would reduce the scope of the bureau's oversight, say attorneys at Holland & Knight.
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MIT Bros.' Crypto Charges Provide Fraud Test Case For Gov't
As U.S. v. Peraire-Bueno, involving cryptocurrency fraud charges against brothers who graduated from the Massachusetts Institute of Technology, moves forward after surviving a motion to dismiss, the case provides an early example of how the government might use the federal fraud statutes to regulate decentralized networks, say attorneys at ArentFox Schiff.
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Potential Paths To Modernizing The Bank Secrecy Act
The Bank Secrecy Act's analog design has become increasingly incompatible with today's digital financial ecosystem, but legislative reforms, coupled with regulatory adjustments including updated thresholds, feedback mechanisms and innovation sandboxes, would help adjust the act to the unique challenges of modern technology, says Matthew Biben at King & Spalding.