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Banking

  • July 23, 2025

    Wells Fargo Gets Partial Early Win In Processing Servicer Suit

    A Tennessee federal judge has granted a partial early win to Wells Fargo and a merchant services provider in a breach of contract suit brought by so-called independent sales organization TX Direct, finding that the contract between the parties had already been terminated when TX Direct was allegedly locked out of a merchant onboarding portal.

  • July 23, 2025

    PREPA Bondholders Say Utility Swiped $2.9 Billion

    The electric utility for Puerto Rico on Wednesday defended itself in New York bankruptcy court from allegations that it had improperly spent its revenues, which the bondholders claim as collateral for $8.5 billion worth of bonds.

  • July 23, 2025

    9th Circ. Revives Barrett Business Services' Secrets Case

    The Ninth Circuit has reinstated Barrett Business Services Inc.'s claims of trade secret theft against two former employees, their wives and a competing company they started.

  • July 23, 2025

    DC Co. Sues Société Générale Over $29M Loan Deal

    A District of Columbia property owner has accused Société Générale Financial Corp. in D.C. federal court of violating an agreement related to a $29 million refinancing loan when the bank corporation refused to fund the loan after realizing that it couldn't find a favorable secondary market buyer for the loan.

  • July 23, 2025

    Unlicensed $1M Crypto Exchange Operator Pleads Guilty

    A 56-year-old Connecticut man has pled guilty to charging fees for swapping more than $1 million in cash, checks and money orders for cryptocurrency at a West Haven business that didn't obtain a license from the state banking commissioner.

  • July 23, 2025

    US Says It's Immune In Booz Allen Worker Tax Info Leak Suit

    A proposed class action seeking to hold the federal government and its contractor Booz Allen Hamilton responsible for a leak of thousands of wealthy people's tax returns, including President Donald Trump's, cannot move forward against the U.S., the government argued Wednesday, saying it's immune from the suit.

  • July 23, 2025

    Ex-Real Estate Finance Pro Tapped For OCC Chief Of Staff

    President Donald Trump's top national bank regulator has hired a new chief of staff, bringing on a former federal housing finance official from the private sector to help steer policy coordination and internal operations at the Office of the Comptroller of the Currency, the agency said Wednesday.

  • July 23, 2025

    CFTC Settles With Puerto Rico-Based Gas Futures Trader

    The Commodity Futures Trading Commission and a Puerto Rico-based natural gas futures trader on Wednesday announced that they had reached a settlement, ending the agency's suit alleging that the trader used nonpublic information to make profitable energy trades.

  • July 23, 2025

    NY Finance Atty Joins Proskauer From A&O Shearman

    Proskauer Rose LLP announced that an experienced finance attorney who's spent over 20 years primarily working on collateralized loan obligations has joined the firm's New York office from Allen Overy Shearman Sterling.

  • July 23, 2025

    Bradley Arant Taps Arnall Golden Fintech Pro In Atlanta

    Bradley Arant Boult Cummings LLP has added a former Arnall Golden Gregory LLP attorney as a partner in the firm's banking and financial services group to extend its Atlanta team counseling technology companies.

  • July 23, 2025

    Feds Launch Forfeiture Suit For $7M In Fraud-Linked Crypto

    The acting U.S. attorney for the Western District of Washington said she is pushing for the forfeiture of about $7 million in cryptocurrency assets seized as part of an investigation into an oil and gas investment fraud scheme.

  • July 23, 2025

    Jones Day Guides Corpay On $2.2B Alpha Group Acquisition

    Jones Day-advised Corpay Inc. said Wednesday it has agreed to acquire Alpha Group International PLC in a deal that values the U.K.-based foreign exchange platform at approximately $2.2 billion (£1.6 billion), following a months-long courtship that included the rejection of a prior Corpay offer. 

  • July 22, 2025

    Trump's NCUA Board Member Firings Were Illegal, Judge Says

    A D.C. federal judge on Tuesday held that President Donald Trump broke the law when he fired two Democratic credit union regulators, finding that the members must remain on the National Credit Union Administration's board and can only be removed before their terms are up for cause.

  • July 22, 2025

    Chime Facing Class Suit In Wash. Over 'Refer-A-Friend' Texts

    Online banking company Chime has been breaking a Washington state ban on unsolicited texts by encouraging customers to send "refer a friend" messages in order to expand its reach, according to a new proposed class action.

  • July 22, 2025

    Basel Exit Could Hurt US Influence, Experts Warn At Fed Event

    Banking industry experts warned Tuesday that the U.S. risks undermining its global influence and keeping bank capital costs elevated if it doesn't implement some form of the so-called Basel III endgame, with one former Federal Reserve official likening the prospect of such a retreat to the "Peanuts" gag of Lucy yanking the football from Charlie Brown.

  • July 22, 2025

    OCC Defends Ex-Wells Fargo Exec's $10M Fake Accounts Fine

    The Office of the Comptroller of the Currency has urged the Eighth Circuit to uphold a $10 million penalty and industry ban against a former Wells Fargo risk executive for her role in the bank's fake accounts scandal, arguing her post-Jarkesy claims rest on a "fundamental misconception" of the Constitution.

  • July 22, 2025

    Bitcoin ATM Co. Enables Crypto Scams, Class Action Says

    A retiree who lost $7,000 to scammers filed a proposed class action against bitcoin ATM operator Bitcoin Depot Inc., claiming the company facilitates schemes that target the elderly by failing to intervene in suspicious transactions, misrepresenting its services' security and continuing to take a cut of "red flag" transactions.

  • July 22, 2025

    Judge Rejects Bondholder Claim Against Puerto Rico

    A New York federal judge found Tuesday the terms of Puerto Rico's debt restructuring plan bars holders of bonds issued by the island's public electric utility from lodging a claim against its government.

  • July 22, 2025

    Ex-Bank Worker's 401(k) Suit Must Be Arbitrated, 5th Circ. Told

    A Laredo, Texas-based bank told the Fifth Circuit Monday that a former worker should be forced to arbitrate a proposed class action claiming the company failed to prudently invest employee retirement funds, even though the provision was added after his employment ended.

  • July 22, 2025

    Viks Demand End To Deutsche Bank's 'Egregious' Norway Suit

    Billionaire Alexander Vik and his daughter have opened a new front in a 12-year litigation war with Deutsche Bank AG over an outstanding $243 million judgment, arguing in a Connecticut federal court complaint that the financial giant must end its own "vexatious" lawsuit against them in Norway because the issues were already decided in the Viks' favor.

  • July 22, 2025

    Dickinson Wright, Shumaker Guide $95M Bank Merger

    Mercantile Bank Corp. and Eastern Michigan Financial Corp. announced Tuesday that they have entered into an agreement under which Eastern Michigan Financial and its wholly owned subsidiary will merge with Mercantile in a cash and stock transaction valued at approximately $95.8 million, in a deal guided by Dickinson Wright PLLC and Shumaker Loop & Kendrick LLP.

  • July 22, 2025

    Samourai Wallet Execs Could Explore Plea Deals, Judge Says

    Two Samourai Wallet executives accused of using the crypto-mixing service to facilitate $2 billion in illegal transactions denied charges in an updated indictment Tuesday, before a Manhattan federal judge suggested they could explore plea talks ahead of their November trial.

  • July 22, 2025

    Capital One Gets Discovery Pause In Trump De-Banking Suit

    A Florida federal judge on Tuesday paused discovery in the lawsuit brought by President Donald Trump's revocable trust and Eric Trump against Capital One, citing a possibility the complaint — alleging the bank canceled hundreds of Trump-affiliated accounts after the Jan. 6, 2021, riot at the U.S. Capitol — could be dismissed. 

  • July 22, 2025

    8th Circ. Axes Witness Tampering Verdict In Kidnapping Case

    The Eighth Circuit upheld the kidnapping conviction of a man who held a woman at gunpoint and forced her to drive across state lines, but it vacated his attempted witness tampering conviction, holding that there wasn't enough evidence.

  • July 21, 2025

    CFPB Ends VyStar Consent Order After $1.5M Penalty Paid

    The Consumer Financial Protection Bureau disclosed Monday that it has ended another Biden-era consent order, this time with VyStar Credit Union, which the agency said has paid the seven-figure penalty that was imposed against it last year.

Expert Analysis

  • Series

    Law School's Missed Lessons: Rejecting Biz Dev Myths

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    Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.

  • Shareholder Takeaways From NY Internal Affairs Doctrine Suit

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    A May New York Court of Appeals decision in Ezrasons v. Rudd involving Barclays — affirming the state's "firmly entrenched" internal affairs doctrine — is a win for all corporate stakeholders seeking stability in resolving disputes between shareholders and directors and officers, say attorneys at Sadis & Goldberg.

  • Move Beyond Surface-Level Edits To Master Legal Writing

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    Recent instances in which attorneys filed briefs containing artificial intelligence hallucinations offer a stark reminder that effective revision isn’t just about superficial details like grammar — it requires attorneys to critically engage with their writing and analyze their rhetorical choices, says Ivy Grey at WordRake.

  • Best Practices For State Banks Eyeing Federal Conversions

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    Amid a notable uptick — fueled by ongoing regulatory upheaval — in state-chartered banks exploring conversion to national bank charters, banks contemplating the decision should weigh the benefits, like uniform supervision, and potential impediments, like costly exam fees, say attorneys at Skadden.

  • EDNY Ruling May Limit Some FARA Conspiracy Charges

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    Though the Eastern District of New York’s recent U.S. v. Sun decision upheld Foreign Agents Registration Act charges against a former aide to New York Gov. Kathy Hochul, its recognition of an affirmative legislative policy to exempt some officials may help defendants charged with related conspiracies, say attorneys at ArentFox Schiff.

  • 9th Circ. Has Muddied Waters Of Article III Pleading Standard

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    District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.

  • Series

    Competing In Modern Pentathlon Makes Me A Better Lawyer

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    Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.

  • Shifting DEI Expectations Put Banks In Legal Crosshairs

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    The Trump administration's rollbacks on DEI-friendly policies create something of a regulatory catch-22 for banks, wherein strict compliance would contradict established statutory and administrative mandates regarding access to credit for disadvantaged communities, say attorneys at Husch Blackwell.

  • Atkins' Crypto Remarks Show SEC Is Headed For A 'New Day'

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    A look at U.S. Securities and Exchange Commission Chairman Paul Atkins' recent speeches provides significant clues as to where the SEC is going next and how its regulatory approach to crypto will differ from that of the previous administration, say attorneys at Eversheds Sutherland.

  • DOJ Memo Lays Groundwork For Healthy Bank Sponsorships

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    The U.S. Department of Justice's recent digital asset policy shift offers potential clarity in the murky waters of sponsor bank relationships, presenting nontraditional financial companies with both a moment of opportunity and a test of maturity, say attorneys at Arnall Golden.

  • Series

    Law School's Missed Lessons: Teaching Yourself Legal Tech

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    New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.

  • In 2nd Term, Trump Has New Iran Sanctions Enforcement Tool

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    As tensions between the U.S. and Iran escalate, the Trump administration may use a whistleblower program enacted in 2022 to target violations that were previously more difficult to detect, thus expanding enforcement of economic sanctions, say attorneys at MoloLamken and Zuckerman Law.

  • How AI May Reshape The Future Of Adjudication

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    As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.

  • What Money Transmitters Need To Know About New Colo. Law

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    Colorado's new Money Transmission Modernization Act updates standards for the licensing, supervision and regulation of money transmitters while codifying an agent-to-payee exemption, and represents another step toward standardizing these rules across state governments, say Sarah Auchterlonie and Joel Herberman at Brownstein Hyatt.

  • When Legal Advocacy Crosses The Line Into Incivility

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    As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.

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