Banking

  • February 05, 2025

    Blue Ridge Bankshares, Investors Reach $2.5M Deal

    Blue Ridge Bankshares Inc. and a proposed class of investors have reached a $2.5 million settlement to resolve claims that the multi-state bank holding company engaged in improper loan accounting practices.

  • February 05, 2025

    Schwab To Add Oversight To End TD Ameritrade Buy Suit

    The Charles Schwab Corp. has agreed to implement an antitrust compliance program designed by an independent consultant in order to settle claims from a proposed class of retail investors who alleged they were forced to pay increased transaction costs for trades following the Schwab-TD Ameritrade merger in 2020.

  • February 05, 2025

    What Patent Attys Should Know About Trump's Commerce Pick

    The CEO of financial services firm Cantor Fitzgerald, who has been tapped to lead the Commerce Department, is an inventor on hundreds of patents and has identified the patent application backlog as a key concern. Here's what to know about Commerce secretary nominee Howard Lutnick.

  • February 05, 2025

    Cannabis Industry Frozen Out Of Banks, Senators Told

    The cannabis industry's difficulty securing access to financial services was raised Wednesday during a Senate committee hearing focused on the issue of debanking, or excluding individuals and companies from financial services.

  • February 05, 2025

    'Pay-To-Pay' Fees Are Unfair Debt Practice, 11th Circ. Rules

    The Eleventh Circuit said a mortgage servicing company illegally charged borrowers fees for online and phone payments, upholding a Florida federal court's decision that it improperly collected so-called pay-to-pay convenience fees that were not expressly allowed by underlying loan agreements.

  • February 04, 2025

    Russian Bank Can't Ditch Jet Crash Suit, 2nd Circ. Agrees

    The Second Circuit on Tuesday agreed with a lower court's finding that Sberbank of Russia must face Anti-Terrorism Act litigation related to the 2014 downing of a commercial airliner over eastern Ukraine, rejecting the bank's argument that it's entitled to sovereign immunity.

  • February 04, 2025

    Wheeling & Appealing: The Latest Must-Know Appellate Action

    February is off to a rip-roaring start in several circuits, and there's plenty more action ahead, including a moment of truth for judiciary policymaking that has managed to anger both the defense and plaintiffs bars. We'll explore all that in this edition of Wheeling & Appealing, which also includes an appellate quiz pegged to recent presidential news.

  • February 04, 2025

    Tribe's IHS Debt Suit Cut But Overcollection Claims Remain

    A Nebraska federal judge partly tossed a tribe's amended suit challenging the Indian Health Service's contention that it overpaid the tribe by $3.2 million due to an administrative oversight, finding the tribe waited too long to sue, but he allowed claims alleging overcollection of the debt to continue.

  • February 04, 2025

    Wells Fargo Clears 2 More Consent Orders Amid Rehab Efforts

    The Federal Reserve said Tuesday that Wells Fargo & Co. has exited a pair of mortgage-related consent orders from more than a decade ago, another step forward in the banking giant's regulatory rehabilitation efforts.

  • February 04, 2025

    Sen. Banking Chair Sets 100-Day Dash For Crypto Legislation

    Senate Banking Committee Chair Tim Scott, R-S.C., said Tuesday that he intends to pass crypto legislation out of his chamber in the first 100 days of the new administration with the help of a working group composed of committee chairs in both chambers of Congress.

  • February 04, 2025

    LendingTree Faces Consumer Claims Over Snowflake Breach

    Online consumer lending platform LendingTree and an insurance comparison subsidiary are facing a proposed consumer class action based on a data breach of their cloud storage service, which affected personal information for "hundreds of millions of consumers."

  • February 04, 2025

    Sens. Hawley, Sanders Pitch 10% Cap On Credit Card Rate

    Sens. Josh Hawley, R-Mo., and Bernie Sanders, I-Vt., introduced bipartisan legislation Tuesday that would hold President Donald Trump to his campaign promise of a 10% credit card interest rate cap.

  • February 04, 2025

    SEC Receiver, Atty Agree To Settle Fraud Transfer Claims

    A court-appointed receiver for a U.S. Securities and Exchange Commission case has reached a settlement with parties who allegedly received hundreds of thousands of dollars' worth of transfers from a fraudulent foreign exchange trading scheme, including the attorney and family of a convicted executive.

  • February 04, 2025

    Coinbase Taps BigLaw Firms In Bid To End Crypto 'Debanking'

    Crypto exchange Coinbase urged regulators Tuesday to clarify that banks can offer crypto custody and execution services, submitting a letter featuring a report from three BigLaw firms asserting that federal laws and regulations already allow banks to wade further into digital asset activities.

  • February 04, 2025

    Ex-Fed Adviser Charged With Espionage Called Flight Risk

    Prosecutors told a D.C. federal judge on Tuesday that a former senior adviser to the Federal Reserve Board of Governors accused of stealing confidential data for China needs to be detained while he awaits trial due to his ample ability to flee the U.S.

  • February 04, 2025

    Trump Taps GOP Senate Staffer For Treasury Bank Policy Role

    President Donald Trump on Monday nominated Luke Pettit, a senior adviser to Sen. Bill Hagerty, R-Tenn., and former Federal Reserve policy analyst, to become the U.S. Department of the Treasury's top bank policy official.

  • February 04, 2025

    NJ Atty Avoids Disbarment After Bank Fraud Conviction

    A New Jersey attorney who was disbarred in New York and Colorado after copping to participating in a bank fraud conspiracy in 2017 has been handed a three-year license suspension in the Garden State, retroactive to the date of her guilty plea.

  • February 04, 2025

    Javice's Texts About Elizabeth Holmes Not Fair Game For Trial

    Frank founder Charlie Javice's sympathetic texts about healthcare-sector fraudster Elizabeth Holmes won't be seen by the jury hearing charges that the education startup executive faked data to dupe JPMorgan into a $175 million acquisition, a Manhattan federal judge said Tuesday.

  • February 03, 2025

    Credit Suisse Gets Investor Suit Over Collapse Booted To NY

    Credit Suisse can fight a proposed investor class action in New York, instead of New Jersey, alongside similar litigation related to its rapid deterioration and subsequent takeover in March 2023, a Garden State magistrate judge has determined.

  • February 03, 2025

    DOJ Poised To Prosecute Threat-Makers Against DOGE

    A federal prosecutor appointed by President Donald Trump offered Elon Musk his office's support to "protect" the work of the newly created Department of Government Efficiency headed by the billionaire businessman, including "legal action against anyone who impedes your work or threatens your people."

  • February 03, 2025

    CFPB Small Biz Rules Outstrip Authority, 5th Circ. Hears

    The Texas Bankers Association asked a Fifth Circuit panel on Monday to kill the Consumer Financial Protection Bureau's new small business minority data rule during oral arguments, while the panel questioned what to do with the case given the agency's leadership change.

  • February 03, 2025

    Schumer Warns Of 'Hostile Takeover' From DOGE

    Top Senate Democrats on Monday railed against access granted to Elon Musk's Department of Government Efficiency that allowed the outfit's employees to tap into the U.S. Department of Treasury's federal payment system over the weekend.

  • February 03, 2025

    Fed. Circ. Questions Mitek's Fears Of USAA Check Patent Suit

    A Federal Circuit panel appeared skeptical of banking software company Mitek Systems Inc.'s effort to revive a suit seeking a declaration that it is not infringing check deposit patents United Services Automobile Association has won millions from suing over, suggesting Monday it seems like Mitek won't also be sued.

  • February 03, 2025

    Visa Brass Hit With Derivative Suit Over DOJ Claims

    Visa's executives and directors were hit with a shareholder derivative suit in California federal court accusing them of allowing the company to understate the regulatory risk it faced by engaging in anticompetitive actions that forced would-be competitors in debit card transaction processing into unfavorable contracts, which are currently the center of a lawsuit brought by the U.S. Department of Justice last year.

  • February 03, 2025

    USAA Fails To Flip PTAB Loss In $218M EDTX Case

    Federal Circuit judges decided Monday to affirm an administrative board's rulings that wiped out claims in two patents, including one that is tied to a $218.45 million jury verdict leveled against PNC Bank in a patent case in the Eastern District of Texas.

Expert Analysis

  • An Associate's Guide To Career Development In 2025

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    As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.

  • The Securities Litigation Trends That Will Matter Most In 2025

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    2025 is shaping up to be a significant year for securities litigation, as plaintiffs and defendants alike navigate shifting standards for omission theories of liability, class certification, risk disclosure claims and more, say attorneys at Willkie.

  • Predicting The Lasting Changes CFPB May Face In 2025

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    President-elect Donald Trump and the incoming Republican-controlled Congress' likely attempts to reshape the Consumer Financial Protection Bureau could significantly alter its rulemaking, supervisory and enforcement abilities for years to come, says Jim Sandy at McGlinchey Stafford.

  • How White Collar Enforcement May Shift In Trump's 2nd Term

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    After President-elect Donald Trump returns to the White House next month, the administration’s emphasis on immigration laws, drug offenses and violent crime will likely reduce the focus on white collar crime overall, but certain areas within the white collar world may see increased activity, say attorneys at Keker Van Nest.

  • The Justices' Securities Rulings, Dismissals That Defined '24

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    The U.S. Supreme Court's 2024 securities rulings led to increased success for defendants' price impact arguments, but the justices' decisions not to weigh in on important issues relating to the Private Securities Litigation Reform Act's pleading requirements may be just as significant, say attorneys at Skadden.

  • 10 Noteworthy CFPB Developments From 2024

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    In a banner year for consumer finance regulation, the Consumer Financial Protection Bureau made significant strides in its efforts to rein in Big Tech and nonbank financial firms, including via rules regarding open banking, credit card late fees, and buy now, pay later products, say attorneys at Wiley.

  • Series

    Fixing Up Cars Makes Me A Better Lawyer

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    From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.

  • 2024 Has Been A Momentous Year For ESG

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    Significant developments in the environmental, social and governance landscape this year include new legislation, evolving global frameworks, continued litigation and enforcement actions, and a U.S. Supreme Court decision that has already affected how lower courts have viewed some ESG challenges, say attorneys at Katten.

  • Making The Pitch To Grow Your Company's Legal Team

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    In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.

  • The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025

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    U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.

  • Conducting A 'Reasonably Expected Market Area' Analysis

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    Regardless of whether the incoming administration scales back on redlining examinations and investigations, lenders should take steps to understand how regulators define "reasonably expected market areas," and how to conduct analyses of such areas, say attorneys at Mitchell Sandler.

  • Gov't Scrutiny Of Workplace Chat Apps Set To Keep Growing

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    The incoming Trump administration and Republican majorities in Congress are poised to open numerous investigations that include increasing demands for entities to produce communications from workplace chat apps, so companies must evaluate their usage and retention policies, say attorneys at Orrick.

  • Del. Dispatch: The 2024 Corporate Cases You Need To Know

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    The Delaware Court of Chancery in 2024 issued several decisions that some viewed as upending long-standing corporate practices, leading to the amendment of the Delaware General Corporation Law and debates at some Delaware corporations about potentially reincorporating to another state, say attorneys at Fried Frank.

  • 2024 Regulatory Developments For Bank-Fintech Partnerships

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    Joseph Silvia at Duane Morris reviews a handful of particularly noteworthy 2024 updates regarding bank-fintech partnerships, including federal banking agencies issuing a number of important pieces of guidance that reiterate and update previous guidance in the area of third-party risk management.

  • When US Privilege Law Applies To Docs Made Outside The US

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    As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.

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