Banking

  • March 11, 2025

    Russian Can't Claim Seized $300M Superyacht, Judge Rules

    A New York federal judge ruled Monday that a Russian billionaire cannot claim ownership of a seized $300 million superyacht, saying the evidence shows he is a "straw" owner of the vessel in a ruling that moved the government closer to selling it at auction.

  • March 11, 2025

    DOGE Must Quickly Cough Up Records To Watchdog Group

    A D.C. federal judge has ordered the U.S. Department of Government Efficiency to promptly hand over requested records on its role in mass firings and "dramatic disruptions" to federal programs to a watchdog group, finding that the public will likely be "irreparably harmed" if DOGE keeps dragging its feet.

  • March 11, 2025

    USPTO Acting Director To Review Bitcoin, Railway Patents

    The U.S. Patent and Trademark Office's current acting director made some of her first moves wading into patent board rulings, deciding last week to take a closer look at two board decisions involving blockchain mines and railway signs.

  • March 11, 2025

    CFPB Says It Will Proceed With Another Military Lending Suit

    The Consumer Financial Protection Bureau has told a Texas federal judge it intends to move forward with a Biden-era lawsuit accusing one of the largest U.S. pawn store operators of military lending violations, despite the agency's moves to scrap a bevy of enforcement actions since the Trump administration's policy shake-up.

  • March 11, 2025

    'Congress Never Came Up' In CFPB Firing Talks, Worker Says

    A Consumer Financial Protection Bureau employee recounted before a D.C. federal judge on Tuesday a frantic effort to fire 1,200 agency staffers before a court order halted it, saying the prospect of first securing congressional approval was never mentioned.

  • March 11, 2025

    NJ Cannabis Co. Alleges Exec Aligned With Lender

    A New Jersey cannabis company alleged in federal court that its chief restructuring officer is intentionally sabotaging the company and asked the court to step in to force him to turn over documents related to a dispute with its lender.

  • March 11, 2025

    NJ AG Accuses Defunct Lender Of Racial Bias, Retaliation

    The owner of a recently shuttered New Jersey-based cash advance business instructed sales staff not to "waste your time with the Chinese, with the Africans and Spanish," and he sent racist messages to employees in a group chat, according to an announcement from the New Jersey attorney general's office.

  • March 11, 2025

    Hedge Fund Group Sends SEC Its Regulatory Wish List

    The U.S. Securities and Exchange Commission should reevaluate rules that impose "significant, unjustified costs and burdens on investors and other market participants with little to no corresponding benefits," the Managed Funds Association said in a letter to the regulator Tuesday.

  • March 11, 2025

    NY's Banking Regulator Hangs 'Help Wanted' Sign In DC

    At a Washington, D.C., appearance on Tuesday, New York's top financial services regulator Adrienne Harris had a message for the legions of federal financial agency employees who have been cut loose by the Trump administration in recent weeks: She's hiring.

  • March 11, 2025

    EPA Officially Cuts $20B In Funding For Climate Projects

    The U.S. Environmental Protection Agency on Tuesday canceled $20 billion in congressionally approved grant funding for climate change projects that it had frozen for weeks and criticized as wasteful and out of step with the Trump administration's priorities.

  • March 11, 2025

    House Mulls Stablecoin Draft As Senate Bill Heads To Vote

    House lawmakers continued to hash out the level of consumer protections and the size of state regulatory power that belongs in a federal framework for stablecoins on Tuesday as the Senate said it plans to push forward with a markup of its own Republican-led proposal.

  • March 11, 2025

    12 Govs. Assert States' Sovereignty Against CTA In 5th Circ.

    A dozen Republican governors, led by Georgia Gov. Brian Kemp, urged the Fifth Circuit to maintain a nationwide block of enforcement of the Corporate Transparency Act, arguing the law undermines the traditional authority states have to regulate businesses.

  • March 11, 2025

    White House Names Ex-Goldman Sachs Atty To Lead USPTO

    U.S. President Donald Trump has nominated John Squires, Goldman Sachs' former longtime chief intellectual property counsel, to serve as the next U.S. Patent and Trademark Office director.

  • March 10, 2025

    CFPB Hasn't Justified Pausing Comerica Suit, Judge Rules

    A Texas federal judge on Monday refused to pause the Consumer Financial Protection Bureau's case accusing Comerica of mismanaging a government benefit card program, ruling that the CFPB hasn't explained why staying the case "would be in the interest of justice."

  • March 10, 2025

    Fifth Third Borrowers Win $3.6M Atty Fee Despite Trial Finish

    An Ohio federal judge awarded $3.6 million in attorney fees and costs to a class of Fifth Third Bank borrowers who convinced the court the bank violated the Truth in Lending Act with its Early Access loan program, but lost other claims at trial two years ago.

  • March 10, 2025

    Alsup Refuses To Vacate Hearing Into OPM Mass Firings

    U.S. District Judge William Alsup on Monday denied the Trump administration's request to vacate an upcoming evidentiary hearing into the U.S. Office of Personnel Management's mass firings of probationary federal employees, and required OPM director Charles Ezell to appear in person or else be deposed.

  • March 10, 2025

    Split SEC Pulls Subpoena Authority From Enforcement Head

    A divided U.S. Securities and Exchange Commission on Monday withdrew a 15-year-old policy that allowed the director of enforcement to greenlight new investigations and approve the issuance of subpoenas, leaving the decision squarely in the hands of the agency's Republican majority.

  • March 10, 2025

    JPMorgan Sued Over $481M CMBS Loan With 'Inflated' Metric

    Wells Fargo sued JPMorgan in New York federal court on Monday to make it pay up for a soured $481 million commercial real estate loan that it originated and securitized, allegedly based on "dramatically inflated" supporting financial data.

  • March 10, 2025

    All Agencies Trump Ordered To Drop DEI Must Heed Injunction

    A preliminary injunction blocking President Donald Trump's executive orders axing diversity, equity and inclusion-related work applies equally to all executive agencies given directives to purge the programming, a Maryland federal judge said Monday.

  • March 10, 2025

    OCC Nixes Supervisory Hurdle For Banks' Crypto Biz

    The Office of the Comptroller of the Currency has told banks that they no longer need to obtain a nonobjection from the regulator to push forward with crypto plans, reaffirming interpretations issued under the first Trump administration and rescinding a Biden-era supervisory requirement for crypto activities.

  • March 10, 2025

    EPA Climate Grantee Sues Citibank, Agency Over Frozen Cash

    A climate-change-focused nonprofit is accusing Citibank NA and the U.S. Environmental Protection Agency in D.C. federal court of breaching a contract to deliver billions of dollars in grant funding that's been frozen by the Trump administration.

  • March 10, 2025

    2nd Circ. Won't Free Ex-JPMorgan Banker From Industry Ban

    The Second Circuit on Monday upheld a lifetime investment advising ban against a former JPMorgan Chase & Co. and Perella Weinberg Partners investment banker convicted of insider trading, saying that the U.S. Securities and Exchange Commission presented substantial evidence demonstrating that the ban was appropriate.

  • March 10, 2025

    MicroStrategy Seeks To Raise $21B To Buy More Bitcoin

    MicroStrategy Inc. on Monday filed plans to raise up to $21 billion from equity sales in order to buy more bitcoin, potentially bolstering its stockpile of the flagship digital currency, represented by Latham & Watkins LLP and placement agents' counsel Davis Polk & Wardwell LLP.

  • March 10, 2025

    AFL-CIO, Unions Defend Fight Against DOGE Access

    The AFL-CIO and a group of unions sought to keep alive their claims that Elon Musk's Department of Government Efficiency can't legally access data from the U.S. Department of Labor and other federal agencies, telling a D.C. federal judge they have standing to file their suit.

  • March 10, 2025

    Ex-Credit Suisse Client Pleads Guilty To Hiding $90M

    A Colombian-American businesswoman and former Credit Suisse client pled guilty Monday in Florida federal court to conspiring with family members to hide more than $90 million in assets from the IRS through a series of foreign bank accounts.

Expert Analysis

  • Series

    Competitive Weightlifting Makes Me A Better Lawyer

    Author Photo

    The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.

  • Year Of The Snake Will Shake Up RE And Mortgage Finance

    Author Photo

    The year ahead may bring profound transformation and opportunities for growth in the real estate and mortgage finance sectors, with significant issues including policy battles and questions surrounding the future of Fannie Mae and Freddie Mac, says Marty Green at Polunsky Beitel.

  • The Syria Sanctions Dilemma Facing Trump Administration

    Author Photo

    Parties looking to engage in transactions involving Syria will be watching the expiration of General License 24 in July, when the Trump administration will need to decide whether to make significant changes to the Syrian sanctions program and reconsider the de facto government's status as a foreign terrorist organization, says Charlie Lyons at Ferrari & Associates.

  • Inside The Uncertainty Surrounding CFPB's Overdraft Rule

    Author Photo

    The Consumer Financial Protection Bureau's overhaul of overdraft fee regulation hangs in limbo as the industry watches to see whether new leadership will repeal the rule, allow it to stay in place, or wait for congressional action or the courts to drive its demise, say attorneys at Alston & Bird.

  • The Case For Compliance During The Trump Administration

    Author Photo

    Given the Trump administration’s shifting white collar enforcement priorities, C-suite executives may have the natural instinct to pare back compliance initiatives, but there are several good reasons for companies to at least stay the course on their compliance programs, if not enhance them, say attorneys at Riley Safer.

  • Opinion

    Despite Noble Intentions, Va. Usury Bill Is Bad For Consumers

    Author Photo

    A Virginia bill purportedly aimed at eradicating predatory online bank lending actually does nothing to achieve that goal, and instead would limit credit opportunities for state residents, says Catherine Brennan at Hudson Cook.

  • Opinion

    DOJ's Visa Suit Shows Pitfalls Of Regulating Innovative Tech

    Author Photo

    A policy of allowing free-market mechanisms to operate without undue interference remains the most effective way to foster innovation, and the U.S. Department of Justice's 2024 case against Visa illustrates the drawbacks of regulating innovative technology, says attorney Thomas Willcox.

  • CFPB Small Biz Study Brings Fair Lending Considerations

    Author Photo

    The Consumer Financial Protection Bureau's recent report highlighting potential racial discrimination in small business lending may not result in more aggressive enforcement under the Trump administration — but lenders can expect state regulators, private plaintiffs and advocacy groups to step up their own efforts, say attorneys at Husch Blackwell.

  • Expect To Feel Aftershocks Of Chopra's CFPB Shake-Up

    Author Photo

    Publications released by Consumer Financial Protection Bureau personnel in the last days of the Biden administration outline former Director Rohit Chopra's long-term vision for aggressive state-level enforcement of federal consumer financial laws, opening the doors for states to launch investigations and pursue actions, say attorneys at Hudson Cook.

  • Corp. Transparency Act's Future Under Treasury's Bessent

    Author Photo

    The Corporate Transparency Act’s ultimate fate faced uncertain terms at the end of 2024, but new U.S. Department of the Treasury Secretary Scott Bessent's statements and actions so far demonstrate that he does not intend to ignore the law, though he may attempt to make modifications, say attorneys at Taylor English.

  • A Look At A Possible Corporate Transparency Act Exemption

    Author Photo

    Attorneys at Kirkland offer a deep dive into the application of the Corporate Transparency Act's reporting requirements specifically to U.S.-domiciled co-issuers in typical collateralized loan obligation transactions, and consider whether such issuers may be able to assert an exemption from the CTA's reporting requirements.

  • Opinion

    Inconsistent Injury-In-Fact Rules Hinder Federal Practice

    Author Photo

    A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.

  • What Financial Intermediaries Can Expect From New Admin

    Author Photo

    Understanding the current regulatory landscape of consumer financial services — and anticipating how it might evolve under Trump 2.0 — is essential for brokers, lead generators and digital platforms, and they should consider strategies for managing regulatory uncertainty, say attorneys at Sheppard Mullin.

  • Virginia AI Bills Could Serve As Nationwide Model

    Author Photo

    If signed into law, two Virginia bills focused on regulating the use of high-risk AI systems in the private and public sectors have the potential to influence similar legislation in other states, as well as the compliance strategies of companies operating in the commonwealth and across the U.S., say attorneys at Woods Rogers.

  • In-House Counsel Pointers For Preserving Atty-Client Privilege

    Author Photo

    Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.

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!