Banking

  • October 28, 2024

    NC Swaps Checks For Prepaid Debit Cards To Pay Jurors

    North Carolina state court officials announced Monday that they've changed the payment method for jurors in an effort to cut down on paper and will instead issue prepaid debit cards to compensate citizens for jury duty.

  • October 28, 2024

    FCC Urged To Include Credit Unions In Broadband Fund Rules

    Credit unions should be included along with banks under Federal Communications Commission requirements to secure letters of credit in order to receive funding for broadband networks, a national trade group told the FCC.

  • October 28, 2024

    Conn. Justices Eye Lesson For Attys In Deathbed Will Case

    Connecticut's highest court on Monday seemed skeptical of an attorney's bid to avoid negligence and contract law claims by three people who did not receive portions of a combined $845,368 gift from a TD Ameritrade account because bank beneficiary forms stymied a testator's deathbed will.

  • October 28, 2024

    Tribe-Linked Lenders Flouted Interest Laws, Borrower Says

    A Florida man and his purported data analytic companies face a proposed class action alleging they improperly touted a relationship with a small Native American tribe as they made consumer loans with triple-digit annual interest rates.

  • October 28, 2024

    Ozy Media CEO Wants Conviction Nixed Over Judge's Assets

    The New York federal judge who presided over the fraud and identity theft trial of former Ozy Media CEO Carlos Watson should be disqualified from the case because he failed to disclose that he had investments in four of the companies victimized by Watson, according to the onetime executive, who is trying to get his conviction overturned.

  • October 28, 2024

    Simpson Thacher Taps Atty Duo As 1st Banking Team Leaders

    Simpson Thacher & Bartlett LLP has named two longtime New York City-based partners, including the co-head of its global banking and credit practice, as the first co-leaders of its global investment banking practice, the firm announced Monday.

  • October 28, 2024

    Linklaters Adds 4 A&O Shearman Finance Partners In NY

    Linklaters LLP announced Monday the addition of four partners from the recently merged Allen Overy Shearman Sterling to the firm's finance division, deepening its U.S. capital markets and restructuring offerings in New York.

  • October 28, 2024

    MVP: Williams & Connolly's Enu Mainigi And Ryan Scarborough

    Williams & Connolly LLP's Enu Mainigi and Ryan Scarborough helped Fifth Third Bank steer a billion-dollar Consumer Financial Protection Bureau enforcement lawsuit to a $15 million resolution, parried class actions against Bank of America and halted a new community lending rule for banks, earning them a place among the 2024 Law360 Banking MVPs.

  • October 25, 2024

    2nd Circ. Denies BNP Quick Appeal In Sudan Refugee Suit

    The Second Circuit rejected BNP Paribas SA's attempt to immediately appeal a New York federal judge's May ruling certifying a class of Sudanese refugee plaintiffs in litigation accusing the bank of funding the former Sudan government's human rights violations.

  • October 25, 2024

    Failed Pot-Friendly Neobank Exec Says Court Must Hold Cash

    Dozens of "defrauded businesses" are left without the cash they deposited into a defunct cannabis-focused "neobank," the former chief executive said when urging an Oregon federal court not to earmark the remaining money left in accounts to just one ripped-off cannabis company.

  • October 25, 2024

    3 Firms Seek $17.6M Fee For Military Borrower Class Deal

    Smith & Lowney PLLC, Hagens Berman Sobol Shapiro LLP and Ballew Puryear PLLC have asked a North Carolina federal court to award them $17.6 million in fees for the work they did to secure a $64 million settlement from USAA on behalf of borrowers who served in the military.

  • October 25, 2024

    Bangladesh Rips DC Judge's Arrest Warrant On IMF Officials

    The government of Bangladesh said Friday it is "unprecedented" that a D.C. federal judge ordered the arrest of two high-ranking Bangladeshi officials to force their depositions in a power company's lawsuit to enforce $31.9 million in arbitration awards.

  • October 25, 2024

    Heinz Charity Ends Embezzlement Suit Against Ex-Adviser

    The Pittsburgh-based Heinz Endowments has dropped a federal lawsuit accusing a former technology adviser of steering nearly $1 million of work to a sham company, according to court filings.

  • October 25, 2024

    Hawkins Delafield Career Atty Moves To Nixon Peabody In SF

    Nixon Peabody LLP hired a Hawkins Delafield & Wood LLP partner who has spent his entire legal career with that firm working on public finance tax matters and a range of other tax-related matters, the firm has announced.

  • October 25, 2024

    Pa. House Advances State Bill To Protect Crypto Payments

    Pennsylvania's House of Representatives advanced a bill that would codify businesses' and individuals' ability to accept digital assets as payment, maintain personal control over their digital assets and protect them from additional taxes when paying in crypto.

  • October 25, 2024

    Wells Fargo Wants Quick Win In NYC Office Foreclosure Suit

    Wells Fargo is urging a New York federal court to grant it an early win in its commercial mortgage foreclosure suit as it seeks to take control of a midtown Manhattan office building after the owner fell behind on its $31.5 million loan.

  • October 25, 2024

    Ex-Paralegal Hits Wells Fargo With Disability Bias Suit

    A former paralegal for Wells Fargo Bank NA hit her former employer with a discrimination suit alleging that she faced bias and was eventually terminated because of her health issues.

  • October 25, 2024

    Judge Chides Bid To Swap Credit Suisse Suit's Lead Plaintiff

    A New York federal judge has rejected an investor's bid to supersede the current lead plaintiff in a securities fraud suit over Credit Suisse's 2023 collapse, saying the petitioning investor had "jumped at the opportunity to sell out his fellow class members" with the replacement motion and criticizing his lawyer too.

  • October 25, 2024

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

    This past week in London has seen the Competition and Markets Authority take action against a mattress retailer after it was caught pressuring its customers with misleading discounts, Lenovo and Motorola target ZTE Corporation with a patents claim, Lloyds Bank hit by another claim relating to the collapse of Arena Television and U.K. tax authority HMRC sued by the director of an electronics company that evaded millions of pounds in VAT. Here, Law360 looks at these and other new claims in the U.K.

  • October 25, 2024

    Taxation With Representation: Davis Polk, Skadden, Kirkland

    In this week's Taxation With Representation, Atlantic Union Bankshares Corp. absorbs Sandy Spring Bancorp, Sophos and Secureworks merge, Wendel Group takes a stake in Monroe Capital LLC, and Acuity Brands Inc. buys QSC LLC.

  • October 25, 2024

    Virgin Islands Looks To Recoup Ocwen's $8.6M Tax Refund

    The U.S. Virgin Islands' revenue bureau mistakenly paid an $8.6 million tax refund to mortgage company Ocwen based on a 90% economic development credit that shouldn't have been allowed, the islands' government told a federal court as it seeks to take back the money.

  • October 24, 2024

    FTC Official Doubts Election Will Deter Antitrust 'New Era'

    The Federal Trade Commission's Bureau of Competition director defended the agency's new guidelines and its track record during a wide-ranging discussion at the 34th annual Golden State Institute on Thursday, and he expressed confidence that whichever presidential candidate wins, a new administration won't deter this "new era" of FTC antitrust enforcement actions.

  • October 24, 2024

    Bank Groups Appeal Loss In Suit Over CFPB Small Biz Rules

    Lender trade groups that sued the Consumer Financial Protection Bureau over its reporting requirements for small businesses have appealed to the Fifth Circuit after a Texas federal judge granted the bureau's request for summary judgment in August.

  • October 24, 2024

    IP Forecast: Inhibrx Co-Founder Faces Biotech Secrets Trial

    A Wilmington federal jury next week will hear a trade secrets lawsuit that accuses a biotech executive of helping himself to confidential information about cancer treatment antibodies while being employed as an expert in an unrelated $200 million arbitration proceeding. Here's a spotlight on that case — plus all the other major intellectual property matters on deck in the coming week.

  • October 24, 2024

    CFPB Cautions Over 'Unchecked Surveillance' Of Workers

    The Consumer Financial Protection Bureau said Thursday it is taking action to protect consumers from "unchecked surveillance" in the labor force, issuing guidance that warns companies to get consent from workers when using algorithmic hiring scores or other outside profiling data for employment purposes.

Expert Analysis

  • Opinion

    This Election, We Need To Talk About Court Process

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    In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.

  • Series

    Playing Diplomacy Makes Us Better Lawyers

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    Similar to the practice of law, the rules of Diplomacy — a strategic board game set in pre-World War I Europe — are neither concise nor without ambiguity, and weekly gameplay with our colleagues has revealed the game's practical applications to our work as attorneys, say Jason Osborn and Ben Bevilacqua at Winston & Strawn.

  • Proposed Mortgage Assistance Rule: Tips For Servicers

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    The Consumer Financial Protection Bureau's recent proposal to alter Regulation X mortgage servicing procedures to broadly construe requests for assistance, and stay foreclosure proceedings during loss mitigation review, will, if finalized, require mortgage servicers to make notable procedural changes to comply, says Louis Manetti at Locke Lord.

  • Antitrust In Retail: Why FTC Is Studying 'Surveillance Pricing'

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    The Federal Trade Commission's decision to study targeted "surveillance pricing" should provide greater clarity into the nature of the data aggregation industry, but also raises several issues, including whether these practices are in fact illegal under any established interpretations of U.S. antitrust law, say attorneys at Holland & Knight.

  • Mental Health First Aid: A Brief Primer For Attorneys

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    Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q3

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    In the third quarter of the year, California continued to be at the forefront of banking regulation as it enacted legislation on unfair banking practices and junk fees, and the state Department of Financial Protection and Innovation notably initiated enforcement actions focused on crypto-assets and student loan debt relief, say Stuart Richter and Eric Hail at Katten.

  • What 2 Key Rulings Mean For Solicitation Under TCPA

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    Two recent rulings from federal district courts in New York and California — each of which came to a different conclusion — bring to light courts' continued focus on and analysis of when an alleged communication constitutes a solicitation under the Telephone Consumer Protection Act, say Felix Shipkevich and Jessica Livingston at Shipkevich.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q3

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    In a relatively light few months for banking legal updates in New York, the state Department of Financial Services previewed its views on banking sector artificial intelligence use via insurer guidance, and an anti-money laundering enforcement action underscored the importance of international monitoring processes, say Eric McLaughlin and Dana Bayersdorfer at Davis Polk.

  • Series

    Collecting Art Makes Me A Better Lawyer

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    The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.

  • A Look At Recent Case Law On Expedited Judgment In NY

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    A number of recent New York state court decisions clarify and refine the contours surrounding Civil Practice Law and Rule 3213, providing landlords, lenders and other payees guidance on how to seek accelerated judgment in certain litigation, says Alexander Lycoyannis at Holland & Knight.

  • Series

    A Day In The In-House Life: Best Egg CLO Talks Power Of Prep

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    On a typical Monday in her life, Best Egg Chief Legal Officer Amy Thoreson Long chronicles a remote workday in which she makes time for everything from getting ahead on regulatory issues and researching recent Supreme Court decisions to dog walks and podcast breaks.

  • Secret Service Failures Offer Lessons For Private Sector GCs

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    The Secret Service’s problematic response to two assassination attempts against former President Donald Trump this summer provides a crash course for general counsel on how not to handle crisis communications, says Keith Nahigian at Nahigian Strategies.

  • Managing Sanctions Defense Across Multiple Jurisdictions

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    Companies called before multiple regulators to account for the same conduct in this era of increased global sanctions and import-control enforcement should consider national differences in law and policy, and proactively coordinate their responses in certain key areas, say attorneys at Baker McKenzie.

  • Series

    Colorado Banking Brief: All The Notable Legal Updates In Q3

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    In the third quarter of 2024, Colorado's banking and financial services sector faced both regulatory updates and changes to state law due to recent federal court decisions — with consequences for local governments, mortgage lenders, state-chartered trust companies and federally chartered lenders serving Colorado consumers, says Sarah Auchterlonie at Brownstein Hyatt.

  • Litigation Inspiration: Honoring Your Learned Profession

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    About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals — and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.

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