Try our Advanced Search for more refined results
Banking
-
March 21, 2025
Treasury Lifts Sanctions Against Crypto Mixer Tornado Cash
The U.S. Department of the Treasury said Friday that it has removed U.S. government sanctions against cryptocurrency mixer Tornado Cash, ending the Biden-era blacklisting after the Fifth Circuit said last year that key code underpinning the service wasn't sanctionable.
-
March 21, 2025
CFPB Says Comerica Trying To Forestall Agency Suit
The Consumer Financial Protection Bureau told a Texas federal judge on Friday that Comerica Bank was merely trying to use a lawsuit against the agency to forestall an enforcement action over the bank's handling of a government benefit card program.
-
March 21, 2025
Cigna Wants Fees After Being Cleared In Payment IP Row
Cigna has urged a Texas federal court to award it legal fees in a case where it was cleared of infringing a card payment patent, saying the patent owner was trying to get the court to rule that a Federal Circuit ruling on the same patent in another case was wrong.
-
March 21, 2025
Ex-UBS North America CEO Agrees To $4.9M FBAR Judgment
The former North American CEO for Swiss bank UBS on Friday agreed to a $4.9 million judgment to end claims that he failed to file timely or accurate foreign bank account reports with the Internal Revenue Service between 2003 and 2013.
-
March 21, 2025
Fed Defends Swipe Fee Cap Against Ky. Pizzeria's Challenge
The Federal Reserve Board asked a Kentucky federal judge to uphold its existing cap on debit card swipe fees, defending the regulatory measure's substantive and procedural merits in a suit brought by a family-owned pizza shop operating in the state.
-
March 21, 2025
Conn. Firm Appeals Client's Win In Suit Over Email Scam
The Connecticut law firm Mancini Provenzano & Futtner LLC says it will appeal a negligence verdict won by a client after a fraudster infiltrated one of its attorney's emails and tricked the client into wiring $90,586 to an incorrect account.
-
March 21, 2025
US-Swiss Agreement Exempts Retirees' Dividends, IRS Says
U.S. retirement accounts, including trusts, qualified annuity plans and other schemes, are exempt from Swiss taxes on dividends from Swiss companies in which they don't own a controlling interest, according to a U.S.-Switzerland competent authority agreement released Friday by the IRS.
-
March 21, 2025
Spencer Fane Adds Armstrong Teasdale Debt Finance Chair
Spencer Fane LLP has hired the former chair of Armstrong Teasdale LLP's debt finance practice, who is joining the firm in St. Louis as a partner in several practices related to financial and corporate services, according to a recent announcement.
-
March 21, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen a sub-postmaster sue the Post Office and Fujitsu, Russian insurer Ingosstrakh hit the Financial Times with a defamation claim, and Britvic-owned Robinsons Soft Drinks file a passing off claim against Aldi. Here, Law360 looks at these and other new claims in the U.K.
-
March 21, 2025
High Court Says Misleading Statements To FDIC Not Criminal
The U.S. Supreme Court on Friday overturned a Seventh Circuit ruling that upheld the conviction of a former Chicago alderman for making false statements about loans from a defunct bank, clarifying that the federal law in question criminalizes false statements but not those that are merely misleading.
-
March 20, 2025
OCC Says It Will Stop Examining Banks For Reputation Risk
The Office of the Comptroller of the Currency said Thursday that it will no longer examine banks for reputation risk, adopting a policy change that some Republican lawmakers want to require for all federal banking regulators to help curb so-called debanking.
-
March 20, 2025
Iowa Adviser To Pay $15M Over SEC Conflict Claims
An Iowa-based adviser has been ordered to pay $15 million over claims from the U.S. Securities and Exchange Commission that it invested client assets in funds that benefited an affiliated broker-dealer instead of lower-cost alternatives, without disclosing its conflicts of interest.
-
March 20, 2025
Payday Lender Gets Appeal On Lawyer's Blackmail Conflict
The Second Circuit has decided to let a former payday lending executive, now incarcerated on charges that he ran a fraudulent $2 billion lending scheme, move ahead with a new appeal after hearing that his trial counsel faced blackmail from another client.
-
March 20, 2025
Mortgage Co. Denied Legal Fees In EEOC Suit
A Washington federal judge has rejected mortgage and financial services company Covius Services LLC's bid for attorney fees after it defeated an Equal Employment Opportunity Commission employment suit alleging that it unlawfully refused to hire a woman because she took pain medication, saying the mortgage company had not shown that the suit was ill-conceived.
-
March 20, 2025
Suit Says Stifel Underpaid Clients In Cash Sweep Accounts
Wealth management company Stifel Financial Corp. and its brokerage arm were hit with a proposed class action by two customers alleging Stifel systematically underpaid clients on cash sweep accounts while profiting from rising interest rates.
-
March 20, 2025
Feds Say Crypto Lobbyist Can't Delay FTX-Tied Case
New York federal prosecutors Thursday opposed a request from attorney and crypto lobbyist Michelle Bond to extend filing deadlines for pre-trial motions in her criminal case until June, saying Bond's inability to access her assets due to bankruptcy proceedings involving her FTX-affiliated husband is not enough to warrant a delay.
-
March 20, 2025
Pot Co. Disputes 'Forgery' Of Service In Banking Suit
A cannabis company is urging an Oregon federal court to reject a venture capital firm's bid to vacate a default judgment in a suit against a defunct cannabis "neobank," saying the evidence shows the suit was properly served and that receipts weren't forged.
-
March 20, 2025
CFPB Union Narrows Injunction Bid In Shutdown Suit
The Consumer Financial Protection Bureau would be barred from idling its workforce under a narrowed injunction bid filed Wednesday in Washington, D.C., federal court, where the agency's employee union is squaring off with the Trump administration.
-
March 20, 2025
Judge Denies CFPB's Bid To Pause Experian Dispute Case
The Consumer Financial Protection Bureau can't pause its dispute-handling claims against credit reporting giant Experian to give the agency's new acting director time to review the case, a California federal judge said.
-
March 20, 2025
4th Circ. Leery Of Reviving Class Claims In Lending Bias Suit
A group of borrowers faced an uphill battle Thursday trying to convince the Fourth Circuit to revive their class claims accusing Navy Federal Credit Union of discriminatory lending practices, with one judge chastising what he said were attempts to rewrite the complaint.
-
March 19, 2025
Lenders Rally For CDFI Fund After Trump Orders Cuts
A broad coalition of lender trade groups is lobbying in support of a key federal program aimed at boosting Main Street investment, defending it to lawmakers after President Donald Trump ordered the program slashed as much as possible.
-
March 19, 2025
Fired FTC Dem Warns Of Billionaire Influence On Trump
A Democrat who was terminated by President Donald Trump from the Federal Trade Commission said Wednesday that the public should be concerned about "which billionaire has the president's ear" when the next "mega-merger" is proposed, in remarks to a Colorado legislative committee the day after his firing.
-
March 19, 2025
Bondholders Say $2B Venezuelan Bond Contracts Are Valid
The holders of approximately $2 billion in defaulted bonds issued by Venezuela's state-owned oil company Petróleos de Venezuela SA have urged a New York federal court to enforce their contracts with PDVSA, saying the country hasn't shown how its domestic law makes the bonds invalid.
-
March 19, 2025
Fed. Circ. Backs Partial Ax Of 'Money Mart' TM In Pawn Fight
The Federal Circuit has backed the Trademark Trial and Appeal Board's finding that two Dollar Financial Group trademark registrations for the phrase "Money Mart" can't be used for pawn brokerages and pawn shops.
-
March 19, 2025
Judge Tosses Vroom Investors' IPO Suit Due To Vague Claims
A New York federal judge has tossed a stockholder class action against Vroom Inc. over issues with its $468 million initial public offering, finding that none of the more than 50 challenged statements in the complaint made about the online car retailer's customer service or business plan are actionable.
Expert Analysis
-
Future Of Crypto-Asset Classification Is In 2nd Circ.'s Hands
A definitive ruling from the Second Circuit in a rare interlocutory appeal in the U.S. Securities and Exchange Commission's ongoing court battle with Coinbase could finally establish clear guidelines on the classification of digital assets, influencing how they are regulated and traded in the U.S., say attorneys at Manatt.
-
5 Ways To Create Effective Mock Assignments For Associates
In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.
-
Assessing Gary Gensler's Legacy At The SEC
Gary Gensler's tenure as U.S. Securities and Exchange Commission chair is defined by a record of commonsense regulation in some areas and social activism in others, and by increasing judicial skepticism about the SEC's authority to fulfill its regulatory, enforcement, administrative law and adjudicatory functions, say attorneys at Arnold & Porter.
-
Takeaways From DOJ Fraud Section's 2024 Year In Review
Attorneys at Paul Weiss highlight notable developments in the U.S. Department of Justice Fraud Section’s recently released annual report, and discuss what the second Trump administration could mean for enforcement in the year to come.
-
A Defendant's Guide To 4 Common CFPB Discovery Tactics
With the Consumer Financial Protection Bureau's recent flurry of new lawsuits showing no signs of stopping, defendants should know the bureau's most relied-upon discovery strategies — and be prepared to resist them, say attorneys at Goodwin.
-
The 7th Circ.'s Top 10 Civil Opinions Of 2024
Attorneys at Jenner & Block examine the most significant decisions issued by the Seventh Circuit in 2024, and explain how they may affect issues related to mass arbitration, consumer fraud, class certification and more.
-
Kansas Bank's Suit Could Upend FDIC Enforcement Authority
Should CBW Bank's federal lawsuit in Kansas challenging the Federal Deposit Insurance Corp.'s enforcement authority gain traction with a post-Chevron U.S. Supreme Court, it could have profound implications for the FDIC and the banking industry at large, says Jack Harrington at Bradley Arant.
-
Class Actions At The Circuit Courts: Nov. And Dec. Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses five federal court decisions and identifies practice tips from cases involving takings clause violations, breach of contract with banks, life insurance policies, employment and automobile defects.
-
Mentorship Resolutions For The New Year
Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.
-
Insights For Finance Firms, Regulators From House AI Report
Though a U.S. House of Representatives report encourages the financial sector to embrace artificial intelligence tools, its focus on ensuring high-quality datasets, transparent development and equitable access underscores that firms and regulators must strike a delicate balance between technological innovation and responsible implementation, says Brendan Palfreyman at Harris Beach.
-
California's New Homeowner Law Could Hamper Foreclosures
While A.B. 2424, which took effect this month in California, gives homeowners in default additional protections, it also provides loopholes that can be used to delay foreclosure auctions, and the cost of these delays will likely be passed on to the borrower, says Stephen Britt at Severson & Werson.
-
Series
Coaching Little League Makes Me A Better Lawyer
While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.
-
How Fintechs Can Respond To New CFPB Supervisory Rule
Even though a new Consumer Financial Protection Bureau rule pulling large payment apps into supervision faces an uncertain fate in the new administration, providers should still examine the rule's definitions and prepare for increased compliance costs and more consumer-friendly practices, say attorneys at DLA Piper.
-
5 Litigation Funding Trends To Note In 2025
Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.
-
Predicting Where State AGs Will Direct Their Attention In 2025
In 2025, we expect state attorneys general will navigate a new presidential administration while continuing to further regulate and police financial services, artificial intelligence, junk fees and antitrust, say attorneys at Troutman Pepper.