Banking

  • January 27, 2025

    Banking Group Of The Year: Williams & Connolly

    Williams & Connolly's financial services litigators clinched court victories for Fifth Third Bank and Bank of America and helped banking industry groups take on federal regulators' new rules on community lending, medical debt and more, earning a place as one of the 2024 Law360 Banking Practice Groups of the Year.

  • January 27, 2025

    Ex-Treasury GC, Former Biden Aide Rejoins Davis Polk In DC

    The general counsel of the Treasury Department, who held leadership roles in former President Joe Biden's Senate office, has returned to Davis Polk & Wardwell LLP to co-chair the practice he helped oversee for eight years before leaving for government, the firm announced Monday.

  • January 27, 2025

    Justices Decline $400M Argentina Bond Default Case

    The U.S. Supreme Court on Monday declined to review Argentina's petition asking the justices to clarify the parameters of the commercial activity exception in sovereign immunity law, in a long-running case relating to some $400 million in defaulted sovereign bonds.

  • January 24, 2025

    Companies Risk White House Wrath By Keeping DEI Programs

    For companies pushing forward with their diversity, equity and inclusion initiatives amid a torrent of attacks from President Donald Trump and his allies, there are myriad potential risks ahead — and murky questions about the legal parameters of Trump's anti-DEI agenda.

  • January 24, 2025

    CFPB, NY's Updated Claims Against MoneyGram Move Ahead

    The Consumer Financial Protection Bureau and the New York attorney general's updated claims against payments firm MoneyGram aren't futile and can move forward despite a yearslong pause in the enforcement suit, a New York federal judge ruled Friday.

  • January 24, 2025

    FDIC Wins Discovery Bid In SVB Fraud Coverage Row

    A Chubb unit must give certain documents to Silicon Valley Bank's former parent SVB Financial Group regarding coverage for a fraud that SVB Financial said caused $73 million in losses, a North Carolina federal court ruled Friday, though relieving an excess insurer of doing the same.

  • January 24, 2025

    Education Department Asks For Pause In Student Loan Case

    The federal government asked the U.S. Supreme Court on Friday to pause a review of a Fifth Circuit block on a program that forgives student loans if the borrower was scammed, saying it needed to "reassess" its position following President Donald Trump's inauguration.

  • January 24, 2025

    EEOC Disability Bias Suit Tossed Following Nixed Evidence

    A mortgage and financial services company on Friday defeated a U.S. Equal Employment Opportunity Commission lawsuit alleging it unlawfully refused to hire a woman because she took pain medication, after a Washington federal judge ruled midtrial that a key piece of evidence shouldn't have been shown to jurors.

  • January 24, 2025

    Feds Want Ohtani's Ex-Interpreter To Get 5 Yrs For $17M Theft

    Prosecutors urged a California federal judge Thursday to sentence Shohei Ohtani's former interpreter to nearly five years in prison for stealing nearly $17 million from the MLB superstar to help pay massive gambling debts, while defense counsel argued that he should serve only 18 months because of his "severe gambling addiction."

  • January 24, 2025

    Wells Fargo Gets Another Win In Lifetrade Investor Suit

    A New York federal judge determined that investors of Lifetrade Fund BV cannot prove Wells Fargo aided or abetted an alleged massive fraud orchestrated by Lifetrade's managers, saying the investors presented only contradictory information regarding the value of the Lifetrade portfolio.

  • January 24, 2025

    Ex-Staffing Co. Execs Get Prison After Copping To $75M Fraud

    A Manhattan federal judge sentenced two brothers who built the staffing firm Resource Employment Solutions to prison Friday after they admitted lying to two financial firms about their Florida company's finances in what prosecutors called a $75 million fraud conspiracy.

  • January 24, 2025

    Capital One Named In Action Over Early-Year Service Outage

    Capital One has been hit with a proposed class action in Virginia federal court focused on a January service disruption that allegedly left consumers locked out of its systems.

  • January 24, 2025

    Chopra Says Banks May Not Get CFPB 'Lapdog' Under Trump

    As President Donald Trump faces pressure from allies to fire Consumer Financial Protection Bureau Director Rohit Chopra, the agency chief on Friday accused banks of trying to fend off measures that could address Trump's concerns about so-called debanking.

  • January 24, 2025

    Coding Boot Camp Seeks Coverage For Tuition Financing Row

    A San Francisco-based company that runs coding boot camps said its insurers must defend and indemnify it for federal and state probes and private settlements related to its tuition financing program, telling a California federal court that coverage denials have left the company on the brink of insolvency.

  • January 24, 2025

    10th Circ. Unsure Exec's Missed Argument Dooms Firing Suit

    A Tenth Circuit judge on Friday asked U.S. Bank whether it matters if a former executive knew he had another jurisdictional argument for his wrongful termination claim but failed to pursue it, in an appeal attempting to revive the executive's second suit.

  • January 24, 2025

    10 AGs Target Major Banks Over DEI, ESG Initiatives

    Major financial institutions in the United States, including Goldman Sachs and JPMorgan, could have made business decisions to follow political agendas, attorneys general from 10 states said, urging them to tackle a series of questions about their diversity and inclusion policies.

  • January 24, 2025

    Banking Group Of The Year: Mayer Brown

    Mayer Brown LLP's banking team secured the reversal of a $1 billion verdict against BMO Harris Bank over Thomas Petters' Ponzi scheme, achieved a landmark False Claims Act win for Citibank, and helped BNY Mellon beat claims over a financial crisis settlement, placing the firm among the 2024 Law360 Banking Groups of the Year.

  • January 24, 2025

    GSA Taps Ex-BlackRock Atty As New GC

    The General Services Administration has tapped Russell McGranahan, the former general counsel of Focus Financial Partners who held legal roles at BlackRock and in private practice for almost 30 years, as its next general counsel, according to a Friday announcement.

  • January 24, 2025

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

    This past week in London has seen Axa Insurance and Admiral face a claim from a former lawyer recently exposed for personal injury fraud, the owner of Reading Football Club sue a prospective buyer and mobile network Lycamobile tackle action by Spanish network Yogio. Here, Law360 looks at these and other new claims in the U.K.

  • January 24, 2025

    'Secret Plot' Drove Perella Weinberg Split, Judge Hears

    A New York state judge heard dueling claims of deception on Friday as counsel for investment banking firm Perella Weinberg and a group of former partners each accused the other of a "secret plot" that violated their partnership agreement, kicking off a trial centering on a sudden split in the firm a decade ago.

  • January 24, 2025

    Fifth Third, United Accused Of Using Prepaid Cards For Wages

    Fifth Third Bank and a slew of other companies, including United Airlines, compensated employees through prepaid cards that required workers to pay fees to get their wages, a worker said in a proposed class action filed in California state court.

  • January 24, 2025

    FBI 'Bait And Switch' Breached Suspect's Rights, Lawyer Says

    FBI agents held an Israeli private investigator accused of hacking climate activists in custody without warning him of his right to remain silent, denying him a fair trial if he is extradited to the U.S., a lawyer testified in London on Friday.

  • January 24, 2025

    Venture-Backed IPO Recovery Could Be Muted, Report Says

    The expected recovery for venture-backed initial public offerings in 2025 will likely be muted, a capital markets research firm said Friday, given investors' persistent concerns about valuation and delayed interest rate cuts that may not happen until midyear.

  • January 24, 2025

    2 Firms Guide Monte Dei Paschi's €13.3B Mediobanca Bid

    Italian lender Monte dei Paschi, said to be the world's oldest bank, launched a €13.3 billion ($14 billion) takeover offer for rival Mediobanca SpA on Friday in the latest move to consolidate Italy's banking sector.

  • January 23, 2025

    Dems Cite 'Unprecedented Concerns' With Trump Memecoins

    U.S. Sen. Elizabeth Warren and Rep. Jake Auchincloss have urged federal regulators to address "unprecedented concerns" associated with the recent launch of so-called memecoins associated with President Donald Trump and first lady Melania Trump, citing threats of consumer ripoffs, corruption and foreign influence.

Expert Analysis

  • Bristol-Myers Win Offers Lessons For Debt Security Holders

    Author Photo

    A New York federal judge's recent dismissal of a $6.4 billion lawsuit against Bristol-Myers Squibb, due to plaintiff UMB Bank's lack of standing, serves as an important reminder to debt security holders to obtain depositary proxies before pursuing litigation, say attorneys at Milbank.

  • Series

    Home Canning Makes Me A Better Lawyer

    Author Photo

    Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.

  • CFPB School Lunch Focus Could Expand E-Payment Scrutiny

    Author Photo

    The Consumer Financial Protection Bureau's recent spotlight on payment processing systems used to add funds to school lunch accounts shows its continued ambitions to further expand its supervisory power in the payments industry, all the way down to the school lunch market, says Tom Witherspoon at Stinson.

  • Opinion

    FDIC's Foray Into Index Fund Rules Risks Regulatory Chaos

    Author Photo

    A proposed Federal Deposit Insurance Corp. rule concerning control over passive index fund investments in banks is outside the agency's remit, clashes with an existing Federal Reserve process and would inhibit competition in the index fund sector, says J.W. Verret at George Mason University.

  • Use The Right Kind Of Feedback To Help Gen Z Attorneys

    Author Photo

    Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.

  • Ga. Fintech Bank Charter Could Reshape Payments Industry

    Author Photo

    Georgia’s recent granting of a special banking charter to transaction processor Fiserv, allowing the fintech company to access major card payment networks without a traditional bank as intermediary, could spark a restructuring of the national payments infrastructure and open new possibilities for businesses and consumers, says Jessica Cino at Krevolin & Horst.

  • Opinion

    Congress Can And Must Enact A Supreme Court Ethics Code

    Author Photo

    As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.

  • What To Make Of Dueling Corporate Transparency Act Rulings

    Author Photo

    Although challenges to the Corporate Transparency Act abound — as highlighted by recent federal court decisions from Alabama and Oregon taking opposite positions on its constitutionality — the act is still law, so companies should comply with their filing requirements or face the potential consequences, say attorneys at Lowenstein Sandler.

  • Series

    The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan

    Author Photo

    Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.

  • California's AI Safety Bill Veto: The Path Forward

    Author Photo

    California Gov. Gavin Newsom's veto of a bill that sought to impose stringent regulations on advanced artificial intelligence model development has sparked a renewed debate on how best to balance innovation with safety in the rapidly evolving AI landscape, say Bobby Malhotra and Carson Swope at Winston & Strawn.

  • Staying Off The CFPB's Financial Services Offender Registry

    Author Photo

    The Consumer Financial Protection Bureau's soon-to-launch registry of financial services companies that have faced public enforcement orders is designed to ratchet up long-term scrutiny of entities that could become repeat offenders, so companies should take their new compliance and filing requirements seriously, say Andrea Mitchell and Chris Napier at Mitchell Sandler.

  • To Report Or Not To Report Others' Export Control Violations

    Author Photo

    A recent Bureau of Industry and Security enforcement policy change grants cooperation credit to those that report violations of the Export Administration Regulations committed by others, but the benefits of doing so must be weighed against significant drawbacks, including the costs of preparing and submitting a report, says Megan Lew at Cravath.

  • Earned Wage Access Laws Form A Prickly Policy Patchwork

    Author Photo

    Conflicting earned wage access laws across the country, including the Consumer Financial Protection Bureau's recently issued rule, mean providers must adopt a proactive compliance approach and adjust business models where needed, say attorneys at Sheppard Mullin.

  • What FDIC Expansion Of Change In Bank Control Could Mean

    Author Photo

    A recent Federal Deposit Insurance Corp. proposal pertaining to the Change in Bank Control Act has the potential to create uncertainty around investments by mutual fund complexes in banking organizations, which represent a stable source of capital for the banking industry, say attorneys at Sullivan & Cromwell.

  • Can SEC's Consolidated Audit Trail Survive Post-Chevron?

    Author Photo

    The U.S. Securities and Exchange Commission is currently in a showdown at the Eleventh Circuit over its authority to maintain a national market system and require that the industry spend billions to maintain its consolidated audit trail, a case that is further complicated by the Loper Bright decision, says Daniel Hawke at Arnold & Porter.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Banking archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!