Banking

  • March 20, 2025

    Judge Denies CFPB's Bid To Pause Experian Dispute Case

    The Consumer Financial Protection Bureau can't pause its dispute-handling claims against credit reporting giant Experian to give the agency's new acting director time to review the case, a California federal judge said.

  • March 20, 2025

    4th Circ. Leery Of Reviving Class Claims In Lending Bias Suit

    A group of borrowers faced an uphill battle Thursday trying to convince the Fourth Circuit to revive their class claims accusing Navy Federal Credit Union of discriminatory lending practices, with one judge chastising what he said were attempts to rewrite the complaint.

  • March 19, 2025

    Lenders Rally For CDFI Fund After Trump Orders Cuts

    A broad coalition of lender trade groups is lobbying in support of a key federal program aimed at boosting Main Street investment, defending it to lawmakers after President Donald Trump ordered the program slashed as much as possible.

  • March 19, 2025

    Fired FTC Dem Warns Of Billionaire Influence On Trump

    A Democrat who was terminated by President Donald Trump from the Federal Trade Commission said Wednesday that the public should be concerned about "which billionaire has the president's ear" when the next "mega-merger" is proposed, in remarks to a Colorado legislative committee the day after his firing.

  • March 19, 2025

    Bondholders Say $2B Venezuelan Bond Contracts Are Valid

    The holders of approximately $2 billion in defaulted bonds issued by Venezuela's state-owned oil company Petróleos de Venezuela SA have urged a New York federal court to enforce their contracts with PDVSA, saying the country hasn't shown how its domestic law makes the bonds invalid.

  • March 19, 2025

    Fed. Circ. Backs Partial Ax Of 'Money Mart' TM In Pawn Fight

    The Federal Circuit has backed the Trademark Trial and Appeal Board's finding that two Dollar Financial Group trademark registrations for the phrase "Money Mart" can't be used for pawn brokerages and pawn shops.

  • March 19, 2025

    Judge Tosses Vroom Investors' IPO Suit Due To Vague Claims

    A New York federal judge has tossed a stockholder class action against Vroom Inc. over issues with its $468 million initial public offering, finding that none of the more than 50 challenged statements in the complaint made about the online car retailer's customer service or business plan are actionable.

  • March 19, 2025

    Greenpeace Owes More Than $660M In Dakota Pipeline Case

    A jury has ordered Greenpeace to pay more than $666 million in a suit alleging the group falsely disparaged the Dakota Access Pipeline project amid environmental protests, a case the organization has called a threat to its future and an attack on free speech.

  • March 19, 2025

    AI Is Growing Focus For Corporate Boards, Proxy Proposals

    Public companies and their investors increasingly set their sights on artificial intelligence last year, according to a report released Wednesday indicating the rapidly evolving technology was a major focus when it came to both board-level oversight and shareholder proxy proposals.

  • March 19, 2025

    Law360 Announces The Members Of Its 2025 Editorial Boards

    Law360 is pleased to announce the formation of its 2025 Editorial Advisory Boards.

  • March 19, 2025

    'They're Walking Away': Ripple Labs Says SEC To Drop Appeal

    Ripple Labs CEO Brad Garlinghouse said Wednesday the U.S. Securities and Exchange Commission will drop its Second Circuit appeal of a summary judgment in its headline-grabbing enforcement action over Ripple's XRP token.

  • March 19, 2025

    Judge Won't Unfreeze Climate Grantees' EPA Funds

    A Washington, D.C., federal judge said the U.S. Environmental Protection Agency hasn't provided an adequate explanation for its termination of $20 billion in grant funding for climate change projects and blocked it from taking further action — but declined to order that the money be released.

  • March 18, 2025

    OCC's Hood Says He Won't Tolerate 'Odious' Debanking

    The Office of the Comptroller of the Currency's acting chief, Rodney Hood, told bankers on Tuesday that his agency won't tolerate so-called debanking, saying "lawful" businesses — including crypto firms — should be eligible for bank accounts and other services.  

  • March 18, 2025

    BofA Must Face Parts of Pandemic Benefits Cards Suit

    A Baltimore federal judge on Tuesday trimmed claims in a proposed class action alleging Bank of America mismanaged Maryland's unemployment benefits debit cards during the pandemic, ruling that the customer may keep claims relating to Maryland privacy laws and potential breaches of contract.

  • March 18, 2025

    Comerica Says Amended CFPB Suit Is A Delay Tactic

    Comerica Bank has asked a Texas federal judge to toss a Consumer Financial Protection Bureau suit alleging the bank mismanaged a government benefit card program, arguing the agency is trying to stall the case by filing an amended complaint after the court rejected its stay bid.

  • March 18, 2025

    Trump Admin Asks 4th Circ. To Halt Employee Rehiring Order

    The Trump administration on Monday evening asked the Fourth Circuit for an emergency stay of a Maryland federal judge's restraining order requiring the reinstatement of probationary employees who were fired from 18 federal agencies, saying the suing states don't have standing to represent the fired workers.

  • March 18, 2025

    10th Circ. Judge Probes Colo. On Opt-Out Law's Lender 'Focus'

    A Tenth Circuit judge asked Colorado how it can claim that an interest rate opt-out provision hinges on a borrower's location when "it's pretty clear" the statute it falls under is focused on lenders, at a hearing Tuesday in banking groups' challenge to a state law capping interest rates on consumer lending.

  • March 18, 2025

    Citi, HSBC Ink $12M Deal To End UK Bond Price-Fixing Suit

    A New York federal judge gave his preliminary blessing Monday to a $12 million settlement between investors and major financial institutions, including Citigroup and HSBC Bank, in a proposed antitrust class action accusing the banks' traders of colluding to fix the prices of U.K. government bonds through digital communications.

  • March 18, 2025

    PetroSaudi Says Feds' Suit Over $380M Award Must Proceed

    A PetroSaudi unit is fighting the U.S. government's bid to stay its years-long suit to seize part of a $380 million arbitral award while criminal proceedings in Switzerland play out against the unit's former owner, telling a California federal court the move is a stall tactic.

  • March 18, 2025

    Trump Fires FTC's Democrats, But Both Vow To Fight

    President Donald Trump fired the Federal Trade Commission's two Democrats on Tuesday, a move the commissioners vowed to fight and that further tees up the brewing legal battle over separation between the White House and independent agencies.

  • March 18, 2025

    BlackRock Calls Red States' Suit Over Coal Prices 'Farfetched'

    BlackRock Inc. and two other large asset managers have urged a Texas federal judge to toss claims brought by a coalition of Republican-led states alleging the firms ran a scheme to drive up coal prices as part of an "investment cartel," saying the case "spins a farfetched theory."

  • March 18, 2025

    Bancorp Downplayed CRE Bridge Loan Risks, Investor Claims

    An investor in The Bancorp Inc. is accusing the financial holding company in Delaware federal court of causing stock value to decline by misleading investors, including by not fully disclosing how its commercial real estate bridge loans were in danger of defaulting.

  • March 18, 2025

    Convicted Insurance Mogul's Co. Liable For $57M Fraud

    A Malta-based advisory firm controlled by convicted insurance mogul Greg Lindberg violated the Investment Advisers Act of 1940 by helping facilitate his misappropriation of $57 million in client funds, a North Carolina federal court ruled, noting Lindberg and another firm executive already admitted to fraud in separate consent judgments.

  • March 18, 2025

    Bank Groups Push For Permanent Block On Ill. Swipe Fee Law

    Banking industry groups moved late Monday to deliver a final blow to an Illinois state law that bans swipe fees on tax and tip portions of payment card transactions, asking a Chicago federal judge to go ahead and finish off the ban before it takes effect this summer.

  • March 17, 2025

    Yeti Escapes Suit Over Third-Party Info Sharing

    A California federal judge has freed Yeti from a woman's proposed class action accusing the cooler and drinkware company of disclosing people's personal and financial information to a payment processor without consent, saying the woman's now twice-amended complaint didn't fix problems the court had previously highlighted.

Expert Analysis

  • 3 Ways Trump Can Nix SEC's Climate Disclosure Rules

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    Given President Donald Trump's campaign statements and agency appointments, it's likely that his administration will try to annul the U.S. Securities and Exchange Commission's climate disclosure rules, but his options for doing so present unique opportunities and challenges, with varying levels of permanence and impact, say attorneys at DLA Piper.

  • A Compliance Update For Credit Card Reward Partnerships

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    While the Consumer Financial Protection Bureau's interest in credit card rewards programs could fade under the new administration, a recent circular focusing on both issuers and their merchant partners means that co-brand credit card partnerships with banks could be subject to increased scrutiny ahead, say attorneys at Goodwin.

  • Perspectives

    Accountant-Owned Law Firms Could Blur Ethical Lines

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    KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.

  • Expect Scrutiny Of Banks To Persist, Even Under Trump

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    Although the change in administrations brings some measure of uncertainty as to the nature of bank compliance oversight, if regulators in Washington, D.C., attempt to dilute the vigilance of federal superintendence, the states are waiting in the wings to fill the void, say attorneys at Polsinelli.

  • AI Will Soon Transform The E-Discovery Industrial Complex

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    Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated enterprise solutions — after first making e-discovery processes technically and legally harder.

  • When Innovation Overwhelms The Rule Of Law

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    In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.

  • What Compensation Committees Must Keep In Mind In 2025

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    New disclosure obligations, an evolving discussion on the analysis of executive perks and updated proxy adviser policies — on top of a new presidential administration — are all important things compensation committees must pay close attention to in 2025, say attorneys at Simpson Thacher.

  • Likely Doomed CFPB Contract Rule Still Has Industry Pointers

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    While the Consumer Financial Protection Bureau's January proposal on consumer financial contract provisions is unlikely to be finalized under the new administration, its provisions are important for industry to recognize, particularly if state attorneys general decide to take up the enforcement mantle, say attorneys at Saul Ewing.

  • Drug Cartels' Terrorist Label Raises Litigation Risk For Cos.

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    President Donald Trump's planned designation of some Latin American drug-trafficking groups as foreign terrorist organizations creates an additional and little-noticed source of legal exposure: U.S. civil litigation risk involving terrorism claims by victims of those groups, say attorneys at Covington.

  • Best Practices To Optimize Cybersecurity Insurance

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    As cyberthreats continue to evolve, the risks associated with third-party vendor breaches are an increasing concern, so businesses must not only reevaluate their internal cybersecurity insurance, but also take proactive steps to evaluate and manage the risks posed by their third-party relationships, say attorneys at Reed Smith.

  • The Tides Are Changing For Fair Access Banking Laws

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    The landscape of fair access banking laws, which seek to prevent banks from denying services based on individuals' ideological beliefs, has shifted in the last few years, but a new presidential administration provides renewed momentum for advancing such legislation against the backdrop of state efforts, say attorneys at Latham.

  • Imagine The Possibilities Of Openly Autistic Lawyering

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    Andi Mazingo at Lumen Law, who was diagnosed with autism about midway through her career, discusses how the legal profession can create inclusive workplaces that empower openly autistic lawyers and enhance innovation, and how neurodivergent attorneys can navigate the challenges and opportunities that come with disclosing one’s diagnosis.

  • A Halftime Analysis Of DOJ's Compensation Pilot Program

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    The U.S. Department of Justice appears to consider the first half of its three-year pilot program on compensation incentives and clawbacks to be proceeding successfully, so companies should expect prosecutors to emphasize the program and other compliance-related considerations early in investigations, say attorneys at Debevoise.

  • Opinion

    How Congress Can Stem Consumer Finance Law Uncertainty

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    In the face of rising uncertainty about consumer finance laws that are based largely on fluctuating administrative rules, Congress should cement certain existing laws into statute and clarify federal agencies' delegations of authority, say attorneys at Bradley Arant.

  • Series

    Documentary Filmmaking Makes Me A Better Lawyer

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    Becoming a documentary filmmaker has allowed me to merge my legal expertise with my passion for storytelling, and has helped me to hone negotiation, critical thinking and problem-solving skills that are important to both endeavors, says Robert Darwell at Sheppard Mullin.

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