California's Top Bank, Fintech Regulator To Exit At Year's End

By Jon Hill

The top banking and fintech regulator for California is departing from the state's Department of Financial Protection and Innovation in a little more than a month, an agency spokesperson told Law360 on Tuesday.

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Customers Sue Fintech Partner Banks After Processor Failure

By Emilie Ruscoe

Five banks holding funds for customers of fintech platforms face proposed class action claims of gross mismanagement after "significant ledger irregularities" totaling $85 million were discovered in the wake of an intermediary software company's bankruptcy.

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Crypto Miner Can't Get Quick Appeal In SEC Fraud Suit

By Jessica Corso

A Utah man accused of defrauding crypto mining investors out of $18 million must face the claims that the U.S. Securities and Exchange Commission brought against him after a lower court judge on Tuesday declined his request to send the case to the Tenth Circuit.

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5th Circ. Says CFPB Payday Rule Can Take Effect Next Year

By Jon Hill

The Fifth Circuit said Monday that the Consumer Financial Protection Bureau can begin requiring compliance with its payday lending rule in just a few months as planned, sidestepping a request from lender trade groups to keep a court-ordered stay in place for longer. 

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Oracle Says Crypto Co. Is Flouting 2020 Settlement Of TM Suit

By Gina Kim

Oracle Corp. claimed in a trademark infringement lawsuit filed in California federal court that cryptocurrency consulting company Crypto Oracle has resumed using the "Crypto Oracle" name four years after it agreed to stop using the "Oracle" marks in an earlier suit from Oracle Corp.

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DraftKings Wants Damages In NFLPA's Licensing Suit Axed

By Katryna Perera

DraftKings Inc. wants partially tossed a suit launched by the NFL Players Association alleging the sports betting giant failed to make good on a licensing agreement related to nonfungible tokens, saying that the players are not entitled to any damages but that as a threshold matter, the maximum potential damages should be capped.

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With Precautions, AI Can Help With Suspicious Activity Filings

While artificial intelligence can enhance suspicious activity report processes, financial services firms should review applicable expectations and areas of deficiencies that can lead to enforcement actions before using AI to help write SARs, say attorneys at Jenner.

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Series

Flying Makes Me A Better Lawyer

Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.

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Bonus Spotlight

Bonus Season Heats Up As More Firms Match Milbank's Scale

By Xiumei Dong

The 2024 associate bonus season is heating up, with more law firms matching Milbank LLP's year-end and special bonuses and U.K. firms extending the same offering to their U.S.-based attorneys, according to firm memos shared with Law360 Pulse and media reports.

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King & Spalding Partner Selected As Trump's Trade Rep

By Hailey Konnath

President-elect Donald Trump on Tuesday announced that King & Spalding LLP international trade partner Jamieson L. Greer was his pick for U.S. trade representative, noting that Greer played a "key role" in imposing tariffs on China during Trump's first term.

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Texas Atty Sanctioned For Citing Bogus Cases After Using AI

By Lynn LaRowe

A Texas lawyer pursuing a wrongful termination lawsuit against Goodyear Tire & Rubber Co. has been sanctioned for submitting a brief that included citations to nonexistent cases generated by an artificial intelligence tool, a Texas federal judge ordered this week.

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Google Search Judge Says AI Will Affect Remedy Phase

By Matthew Perlman

The judge overseeing the government's search monopolization case against Google suggested Tuesday in D.C. federal court that artificial intelligence is shifting the market and will likely play a role in the remedies the court imposes on Google for allegedly violating antitrust law.

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Affinity Bar Groups Decry Colo. No-Poach Restrictions

By Thy Vo

Several attorney groups told Colorado's justices that barring lawyers from recruiting colleagues before officially leaving a firm would take away professional autonomy and harm lawyers from underrepresented backgrounds the most, filing briefs in support of a lawyer's challenge to her contract with a personal injury firm. 

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Fulton County DA Seeks To Reinstate Trump Election Charges

By Emily Johnson

The Fulton County District Attorney's Office told the Georgia Court of Appeals on Monday that six criminal charges against President-elect Donald Trump and others should be reinstated as they have an "abundance" of information to prepare their defense against allegations of trying to subvert the results of the November 2020 election.

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Giuliani's New Atty Faults Previous Counsel As NY Trial Nears

By Pete Brush

A Manhattan federal judge declined Tuesday to delay a January trial over whether Rudy Giuliani must turn over his Florida condo and World Series rings to fund a $148 million defamation judgment, after the former New York City mayor's new lawyer criticized outgoing counsel.

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Ex-Faegre Drinker Atty Files Disability Bias Suit

By Andrea Keckley

Faegre Drinker Biddle & Reath LLP was hit with a disability discrimination lawsuit on Monday by a Denver attorney who says she was pushed out after seeking accommodations for hip problems.

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NJ Equal Pay Law Date Will Guide Atty's Discrimination Suit

By Irene Spezzamonte

Discovery and damages in a former Reed Smith LLP labor and employment attorney's suit claiming gender discrimination will be limited to the effective date of New Jersey equal pay law, a state judge ruled, saying the law doesn't apply retroactively.

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Fla. Bar Alleges Atty Delayed Trial Over His Broken Tooth

By Dorothy Atkins

The Florida Bar has launched a complaint against a criminal attorney in the Florida Supreme Court, accusing him of violating state bar rules by refusing to proceed with a jury trial because he had a broken tooth.

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