Banking

  • April 04, 2025

    Deutsche Bank Not Liable For ISIS Terror, Judge Finds

    A New York federal judge on Friday dismissed a lawsuit accusing Deutsche Bank AG of facilitating the financing of the Islamic State, saying that the families of two journalists and an aid worker the terrorist group killed failed to sufficiently allege that the bank participated in a human trafficking venture.

  • April 04, 2025

    IPO Plans Appear Iced As Trump's Tariffs Rock Markets

    The escalating sell-off in equities is halting major initial public offerings for now and more prospects will likely pause plans as deals lawyers and their clients assess the fallout following President Donald Trump's endorsement of across-the-board tariffs, experts say.

  • April 04, 2025

    4th Circ. Rules Ch. 7 Debtor On The Hook For Mortgage Bill

    The Fourth Circuit on Friday revived class claims by a Chapter 7 debtor who received a collection letter over a defaulted mortgage, saying the debtor still has obligations to pay the mortgage lender, partially overturning a West Virginia district court's decision. 

  • April 04, 2025

    US Bank Defeats Class Cert. In Early Retiree Benefits Suit

    A Minnesota federal judge on Friday rejected a bid to certify a class action for more than 2,000 U.S. Bank retirees accusing the bank of unlawfully reducing monthly pension payments for those taking early retirement, finding the proposed class had differing concerns that blocked classwide resolution.

  • April 04, 2025

    Feds Can Depose Russian Exec's Co-Defendants, Judge Says

    A New York federal judge has ruled that the U.S. government can depose two men about a Russian bank executive's alleged effort to avoid economic sanctions following Russia's invasion and annexation of the Crimea region, saying it is necessary to "prevent a failure of justice."

  • April 04, 2025

    Appeals Court Won't Halt Russian Investment Litigation

    England's Court of Appeal will not nix an order refusing to halt "vexatious" litigation in Russia initiated by sanctioned entities against third parties to an arbitration agreement, issuing an opinion that chided an investment manager for leaving the court "in the dark" about its relationship to the third parties.

  • April 04, 2025

    SEC Says Reserve-Backed Stablecoins Aren't Securities

    The U.S. Securities and Exchange Commission's Division of Corporation Finance said Friday the offer and sale of reserve-backed dollar stablecoins aren't securities transactions, in the latest statement to set out the staff's views on the boundaries of its jurisdiction over digital assets.

  • April 04, 2025

    Fed's Barr Says Bank Regulators Should 'Explore' Gen AI

    Federal Reserve Gov. Michael Barr called Friday for banking regulators to look into how they themselves might harness generative artificial intelligence, arguing the experience could help them better understand how banks' use of the technology should be overseen.

  • April 04, 2025

    11th Circ. Told Omitted Issues Void UBS Arbitration Award

    A Puerto Rican man urged the Eleventh Circuit on Friday to vacate a roughly $6.5 million arbitration award given to UBS Financial Services Inc. stemming from a long-running account contract dispute, arguing he didn't receive a fair hearing and because key issues to be resolved weren't identified in the award.

  • April 04, 2025

    Nissan Settles With NJ Dealers In Suit Over Predatory Loans

    Nissan North America Inc. and its financing arm have settled a dispute with New Jersey auto dealers who said they were forced to take $20 million worth of predatory loans that financed an overabundance of inventory the car giant ordered them to carry amid corporate pressure to raise sales, according to a letter filed in federal court.

  • April 04, 2025

    Citizens Bank Sues Valley National Over Loan Dispute

    Citizens Bank alleged in New Jersey federal court that Valley National Bank broke a loan participation agreement by failing to disclose borrower defaults and refusing to repurchase Citizens' $30 million stake in a troubled $65 million mortgage loan.

  • April 04, 2025

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen Russian industrialist Oleg Deripaska target the intelligence arm of CT Group with a commercial fraud claim, Big Technologies sue its former CEO for allegedly concealing interests in several shareholders, and an investment firm tackle a professional negligence claim by Adidas. Here, Law360 looks at these and other new claims in the U.K.

  • April 04, 2025

    Taxation With Representation: Ropes & Gray, Paul Hastings

    In this week's Taxation With Representation, Siemens AG acquires Dotmatics from Insight Partners, LPL Financial acquires Commonwealth Financial Network, Brookfield Asset Management takes a majority stake in Angel Oak Cos., and TowneBank acquires Old Point Financial Corp.

  • April 03, 2025

    CFPB Says It Will Reopen Small-Biz Lending Rule

    The Consumer Financial Protection Bureau said Thursday that it will reopen its Biden-era rule requiring financial institutions to report data on their small business lending activity, the latest policy pivot for the agency under its new Trump-appointed leadership.

  • April 03, 2025

    Laos Can't Get $5M Award Enforced Against Businessman

    A federal judge on Thursday shut down the government of Laos' bid to enforce some $5 million in arbitral awards against an entrepreneur who was not party to an underlying arbitration stemming from an ill-fated casino venture, saying the actual award debtors are the ones that should be targeted.

  • April 03, 2025

    Georgia Credit Union Hit With DACA-Recipient Bias Suit

    The Credit Union of Georgia was hit with a proposed class action in federal court on Thursday by a Deferred Action for Childhood Arrivals recipient who claims the credit union uses immigration status as a basis to reject potential customers.

  • April 03, 2025

    DC Circ. Steps In To Pause CFPB Order As Judge Denies Stay

    A D.C. Circuit panel on Thursday put a temporary, limited hold on a federal judge's preliminary injunction barring further cuts at the Consumer Financial Protection Bureau, even as the judge herself largely denied a Trump administration bid to stay it for appeal.

  • April 03, 2025

    Fulton Bank Keeps $7.7M Win In Pa. Development Loan Fight

    The Pennsylvania Superior Court has affirmed a $7.7 million judgment in favor of Fulton Bank in legal battle with developers over construction loans used to build a manufactured home community, reasoning the companies' arguments that they were entitled to a jury trial didn't move the needle in their favor.

  • April 03, 2025

    House Moves Stablecoin Bill Despite Dems' Conflict Concerns

    The House Financial Services Committee advanced its federal framework for stablecoins just before midnight Wednesday following hours of markup during which Democrats raised concerns that the Trump family and administration officials' involvement with crypto ventures will create conflicts of interest.

  • April 03, 2025

    Feds Say Cash Advance Biz Owner Ran $40M Ponzi Scheme

    Federal prosecutors said Thursday that a Miami man ran a $40 million Ponzi scheme through a company that purported to make money through quick loans to small businesses.

  • April 03, 2025

    ATM Company Sanctioned For 'Objectively Frivolous' Claim

    A Georgia federal judge on Wednesday tossed an attempt to relitigate a patent infringement suit brought by an ATM technology company against a competitor, and sanctioned its attorneys for bringing the "objectively frivolous" claim that the competitor defrauded the court in a previous suit.

  • April 03, 2025

    Fla. Atty Cites Law School Debt In Bid To Skip Conn. Oral Args

    A Florida employment attorney embroiled in state and federal proceedings over a judgment requiring him to repay his ex's $30,000 contribution toward his law school loans says he can't afford to travel to Connecticut to argue an appeal because his debts and lack of income while traveling make in-person attendance difficult.

  • April 03, 2025

    'No Serious Question' Federal Firings Broke Law, Justices Told

    Federal employee unions and advocacy groups urged the U.S. Supreme Court on Thursday to reject the Trump administration's bid to pause a California court order reinstating tens of thousands of probationary workers fired from six agencies, arguing the government can't escape self-inflicted harms brought on by its allegedly unlawful actions.

  • April 03, 2025

    Ginnie Mae Wins Fight Over Reverse Mortgage Collateral

    A Texas federal judge granted a win to Ginnie Mae and the U.S. Department of Housing and Urban Development over challenges to their decision to extinguish Texas Capital Bank's lien on reverse mortgage assets, holding that Ginnie Mae's statutory authority extends to the entire mortgage once an issuer defaults.

  • April 03, 2025

    Senate Advances Noms Of Trump's SEC, OCC Picks

    The U.S. Senate Banking Committee voted along party lines Thursday to advance the nominations of President Donald Trump's chosen leaders for the U.S. Securities and Exchange Commission and the Office of the Comptroller of the Currency, sending both to the full Senate for a final confirmation vote.

Expert Analysis

  • Mass. AG Emerges As Key Player In Consumer Protection

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    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.

  • Series

    Birding Makes Me A Better Lawyer

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    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.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q1

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    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.

  • Inside State AGs' Arguments Defending The CFPB

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    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.

  • Series

    Adapting To Private Practice: From DOJ Leadership To BigLaw

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    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.

  • How The CRE Industry Is Adapting To Tariff Uncertainty

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    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.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q1

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    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.

  • Law Firm Executive Orders Create A Legal Ethics Minefield

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    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.

  • The OCC's Newly Relaxed Approach To Bank Crypto Activity

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    With the early March rescission of Biden-era interpretive guidance, the Office of the Comptroller of the Currency has loosened its approach to regulating national banks and federal savings associations' crypto-asset activities, possibly removing one barrier to banks engaging in such activities, say attorneys at Debevoise.

  • Firms Must Embrace Alternative Billing Models Or Fall Behind

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    As artificial intelligence tools eliminate inefficiencies and the Big Four accounting firms enter the legal market, law firms that pivot from the entrenched billable hour model to outcomes-based pricing will see a distinct competitive advantage, says attorney William Brewer.

  • Opinion

    7 Ways CFTC Should Nix Unnecessary Regulatory Burdens

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    Several U.S. Commodity Futures Trading Commission regulations do not work efficiently in practice, all of which can be abolished or improved in order to comply with a recent executive order requiring the elimination of 10 regulations for every new one implemented, say attorneys at K&L Gates.

  • How Attorneys Can Master The Art Of On-Camera Presence

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    As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.

  • Border Cash Transaction Rule Heralds Wider AML Crackdown

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    The Financial Crimes Enforcement Network’s new order for money services providers near the Mexican border to report cash transactions over $200 should warn financial institutions to prepare for the new administration's heightened scrutiny of cross-border transactions and anti-money laundering compliance, says Daniel Silva at Buchalter.

  • Series

    Baseball Fantasy Camp Makes Me A Better Lawyer

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    With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.

  • Paul Atkins' Past Speeches Offer A Glimpse Into SEC's Future

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    Following Paul Atkins' Thursday Senate confirmation hearing, a look at his public remarks while serving as a commissioner at the U.S. Securities and Exchange Commission between 2002 and 2008 reveals eight possible structural and procedural changes the SEC may see once he likely takes over as chair, say attorneys at Covington.

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