Fintech

  • April 01, 2025

    Trump Admin Layoffs 'Probably Broke Laws,' Judge Says

    A Maryland federal judge ruled Tuesday that the Trump administration "probably broke the laws that regulate en masse terminations of government employees," ordering the federal government to reinstate thousands of probationary employees who were abruptly fired from their jobs in 19 states and the District of Columbia.

  • April 01, 2025

    Tesla Asks Del. Justices To Undo $176M Atty Fee 'Windfall'

    Tesla urged the Delaware Supreme Court on Tuesday to slash a $176 million attorney fee award granted as part of an excessive director compensation suit settlement, saying it amounts to a "windfall in a case that settled well before trial and after three years of only tepid litigation."

  • April 01, 2025

    Javice Must Don Ankle Bracelet For Now, Despite Pilates Gig

    Frank founder Charlie Javice must wear a location-monitoring ankle bracelet, pending further court review, as she awaits sentencing, following her conviction at trial on fraud and conspiracy charges for purportedly conning JPMorgan Chase & Co. into buying her now-defunct educational startup, in spite of her claims that it will leave her unable to work in her new gig as a fitness instructor.

  • April 01, 2025

    Trump Administration Sued Over Border Cash-Reporting Order

    A Texas trade group on Tuesday sued the Trump administration over its order singling out cash-moving businesses along the southwest border for heightened anti-money laundering reporting, calling the move overreaching, discriminatory and "financially ruinous."

  • April 01, 2025

    Republicans Float Wish List Of Biden Financial Rule Rollbacks

    Republican lawmakers on the House Financial Services Committee sent a bevy of letters to financial regulators on Tuesday calling for the withdrawal or modification of rules and guidance issued under the Biden administration addressing topics like risk management, mergers, banking capital requirements and crypto business reporting.

  • April 01, 2025

    Conn. Banking Boss Orders Fintech Duo To Repay Investors

    Connecticut's banking regulator has ordered two dissolved Greenwich-based companies to reimburse dozens of investors $843,000 for making them believe their money was earmarked for an investment algorithm patent, when instead company founders blew some of the cash at salons and department stores and on plastic surgery.

  • April 01, 2025

    Trump Admin Fights Wash.'s Bid To Expand Layoff Injunction

    The Trump administration has urged a California federal judge to reject the state of Washington's request to expand an injunction blocking federal agencies from firing probationary employees, saying the bid to broaden the order to other agencies is unnecessary and based on unfounded speculation of harm. 

  • April 01, 2025

    Bitcoin Rival Appeals Grayscale's Win In $2M CUTPA Suit

    Cryptocurrency company Osprey Funds LLC is appealing a Connecticut state judge's ruling against it in its unfair trade practice suit accusing digital asset management firm Grayscale Investments LLC of misleading bitcoin investors about the security of their investments after the state court declined to reconsider its decision.

  • April 01, 2025

    House GOP Infighting Delays Push To Repeal 2 CFPB Rules

    Plans for the U.S. House to vote on overturning two Biden-era Consumer Financial Protection Bureau rules were scuttled Tuesday by an unrelated fight among Republicans about whether to allow proxy voting for lawmakers with infant children.

  • April 01, 2025

    Crypto Co. OKX Taps Ex-NY Regulator Linda Lacewell As GC

    Cryptocurrency exchange OKX said Tuesday that Linda Lacewell, former superintendent of the New York Department of Financial Services, has joined the company as its general counsel, a month after the firm agreed to a $504 million deal with federal prosecutors over compliance failures.

  • March 31, 2025

    Wells Fargo Sued Over Online Wire Fraud Protections

    Wells Fargo has been hit in by a proposed class action California federal court accusing the bank of leaving its online and mobile banking customers exposed to costly losses from fraudulent wire transfers.

  • March 31, 2025

    Trump Admin Asks DC Circ. To Stay 'Lawless' CFPB Injunction

    The Trump administration moved Monday to thwart a Washington, D.C., federal judge's preliminary injunction that bars it from stopping work and firing employees at the Consumer Financial Protection Bureau, asking the D.C. Circuit for an emergency stay.

  • March 31, 2025

    Ex-CFTC Enforcement Chief Joins Sidley As Partner

    Ian McGinley, who served as the enforcement director for the U.S. Commodity Futures Trading Commission, has joined Sidley Austin as a partner at its New York office, where he will be handling regulatory enforcement and white-collar matters with a focus on commodities and securities laws, the firm said Monday.

  • March 31, 2025

    9th Circ. Revives Investor Suit Over $8B Avalara Sale

    The Ninth Circuit on Monday partially revived a proposed class action accusing tax software company Avalara Inc. of underselling investors on its future prospects before taking the company private in an $8.4 billion deal.

  • March 31, 2025

    SEC Closed Inquiry Into Hawk Meme Coin, Promoter Says

    The U.S. Securities and Exchange Commission has closed an investigation into the celebrity promoter of the viral "Hawk Tuah" meme coin Haliey Welch, Welch's attorney told Law360 on Monday.

  • March 31, 2025

    Kalshi Sues Nevada, New Jersey Gaming Regulators

    KalshiEx LLC has sued Nevada and New Jersey agencies for attempting to preempt federal regulations with their demands that the trading platform remove event contracts that allow users to trade on the outcomes of sporting events.

  • March 31, 2025

    Justices Ask US To Respond To IRS Crypto Doc Seizure Case

    The U.S. Supreme Court asked the federal government Monday to weigh in on a cryptocurrency investor's challenge to the IRS' seizure of his account records, a request that followed a spate of support for the investor, including by attorneys general and Elon Musk's X Corp.

  • March 31, 2025

    Regulators Seek Pause On 5th Circ. Fight Over CRA Rules

    Federal regulators have asked the Fifth Circuit to halt further proceedings in a banking industry challenge to their Biden-era Community Reinvestment Act rules, citing their recently announced plans to go back to the drawing board with them.

  • March 31, 2025

    Ex-SEC Chair's Enforcement Counsel Joins Kostelanetz

    The former enforcement officer to the recently departed U.S. Securities and Exchange Commission Chair Gary Gensler has joined Kostelanetz LLP in New York as partner, the firm announced Monday.

  • March 31, 2025

    Ex-Sen. Sinema Joins Hogan Lovells' Regulatory Group

    Former U.S. Sen. Kyrsten Sinema of Arizona, who made headlines by changing her party affiliation from Democrat to independent in 2022, will join Hogan Lovells in Washington, D.C., as a senior adviser in its global regulatory and intellectual property practice groups, the firm announced Monday.

  • March 31, 2025

    'Let's Go Brandon' Coin Buyers Class Partially Certified

    A Florida federal judge partially certified a class of purchasers of meme-inspired cryptocurrency LGBCoin in a suit alleging the price of the tokens cratered after its much-hyped plan to sponsor the coin's eponymous NASCAR driver fell apart.

  • March 31, 2025

    Aspiration Partners Hits Ch. 11 After Founder's Fraud Arrest

    Sustainability-focused financial services company Aspiration Partners Inc. filed for Chapter 11 protection in Delaware, less than a month after founder Joseph Sanberg was arrested and hit with federal fraud charges.

  • March 28, 2025

    Bitcoin Ponzi Scheme Suit Shouldn't Be Tossed, Judge Says

    A Delaware federal judge on Friday recommended denying motions to dismiss from former executives of bitcoin mining company VBit Technologies Corp. looking to ditch an investor proposed class action, rejecting the executives' qualms with how they were served and the plausibility of the claims.

  • March 28, 2025

    Trump Pardons BitMEX Crypto Co., Four Ex-Executives

    President Donald Trump has pardoned the business entity behind cryptocurrency exchange BitMEX and four of the firm's former executives years after they copped to Bank Secrecy Act violations and lax anti-money laundering controls, the White House confirmed Friday.

  • March 28, 2025

    Bitcoin Mining Insurance Co. Sued In Del. For $32M Breach

    A financial products and services venture sued individuals and companies behind a purported bitcoin mining "total protection" insurance plan in Delaware's Court of Chancery Friday, alleging failures to honor commitments to pay out up to $32.7 million in customer returns on nearly $7 million in investments.

Expert Analysis

  • 4 Key Payments Trends For White Collar Attys

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    As the payments landscape continues to innovate and the new administration looks to expand the role of digital currency in the American economy, white collar practitioners should be aware of several key issues in this space, say attorneys at Jenner & Block.

  • Series

    Performing Stand-Up Comedy Makes Me A Better Lawyer

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    Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.

  • How 2025 Is Shaping The Future Of Bank Mergers So Far

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    Whether the long-anticipated great wave of consolidation in the U.S. banking industry will finally arrive in 2025 remains to be seen, but the conditions for bank mergers are more favorable now than they have been in years, say attorneys at Skadden.

  • Series

    Adapting To Private Practice: From SEC To BigLaw

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    As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.

  • What's Old And New In The CFTC's Self-Reporting Advisory

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    Attorneys at Blank Rome analyze the U.S. Commodity Futures Trading Commission's recent advisory that aims to provide clarity on self-reporting violations of the Commodity Exchange Act, and review whether market participants should shift their thinking — or not — when it comes to cooperation with the CFTC.

  • How Trump's Crypto Embrace Is Spurring Enforcement Reset

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    The U.S. Securities and Exchange Commission's recent willingness to step away from ongoing enforcement investigations and actions underscores the changing regulatory landscape for crypto under the new administration, which now appears committed to working with stakeholders to develop a clearer regulatory framework, say attorneys at Sheppard Mullin.

  • Making The Case For Rest In The Legal Profession

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    For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.

  • During Financial Regulatory Uncertainty, Slow Down And Wait

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    Amid the upheaval at the Consumer Financial Protection Bureau and the slowdown in activity at the prudential agencies, banks must exercise patience before adopting strategic and tactical plans, as well as closely monitor legal and regulatory developments concerning all the federal financial regulators, say attorneys at Dorsey.

  • 4 Ways Women Attorneys Can Build A Legal Legacy

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    This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.

  • Deficiency Trends In National Futures Association Exams

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    A recent notice from the National Futures Association outlining the most common deficiencies uncovered during exams gives member firms an opportunity to review prior guidance, particularly regarding the hot topic of implementing procedures governing the use of outsourced service providers, say attorneys at Akin.

  • A Judge's Pointers For Adding Spice To Dry Legal Writing

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    U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.

  • Considerations As Trump Admin Continues To Curtail CFPB

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    Recent sweeping moves from the Consumer Financial Protection Bureau's new leadership have signaled a major shift in the agency's trajectory, and regulated entities should prepare for broader implications in both the near and long term, say attorneys at Pryor Cashman.

  • 6th Circ. Ruling Paves Path Out Of Loper Bright 'Twilight Zone'

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    The U.S. Supreme Court’s Loper Bright ruling created a twilight zone between express statutory delegations that trigger agency deference and implicit ones that do not, but the Sixth Circuit’s recent ruling in Moctezuma-Reyes v. Garland crafted a two-part test for resolving cases within this gray area, say attorneys at Wiley.

  • Cos. Should Prepare For Mexican Payments Surveillance Tool

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    The recent designation of six Mexican cartels as "specially designated global terrorists" will allow the Treasury Department to scrutinize nearly any Mexico-related payment through its Terrorist Finance Tracking Program — a rigorous evaluation for which even sophisticated sanctions compliance programs are not prepared, says Jeremy Paner at Hughes Hubbard.

  • What's Potentially In Store For CFTC Under New Leadership

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    Under the leadership of acting U.S. Commodity Futures Trading Commission Chairman Caroline Pham, and with the nomination of former commissioner Brian Quintenz to serve as permanent chair, the commission is set to widely embrace digital assets and event contracts, say attorneys at Davis Wright.

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