NY Pitches Pay-Later Oversight Rules, Borrower Protections

By Jon Hill

Buy-now-pay-later providers in New York would face new licensing and supervision requirements, consumer disclosure standards, fee limits and other restrictions under draft rules unveiled Monday by the state's financial services regulator.

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Banking Orgs. Silent On Trump Family-Tied Crypto Charter Bid

By Aislinn Keely

Two banking industry groups that publicly opposed applications from at least eight crypto firms seeking national trust charters did not weigh in on a similar bid from the Trump-family tied crypto business World Liberty Financial, while public advocacy group commenters blasted the WLF application as being riddled with conflicts.

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Crypto.com Says OCC Gave Initial OK To Trust Charter Bid

By Aislinn Keely

Crypto.com announced Monday that it's the latest crypto-focused firm to receive a conditional approval for a national trust charter from the Office of the Comptroller of the Currency, clearing the way for its Crypto.com National Trust Bank to offer expanded crypto custody services and trade settlement.

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Fed Defends Ex-Wells Fargo Exec's Golden Parachute Denial

By Sarah Jarvis

The Federal Reserve urged a California federal court to uphold its denial of a former Wells Fargo anti-money laundering executive's bid for a "golden parachute" payout of over $450,000, arguing he was found responsible for significant problems that led to a consent order for the bank a decade ago.

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JPMorgan Asks To Send Trump's $5B Debanking Suit To NY

By Jon Hill

JPMorgan Chase has formally requested to move President Donald Trump's $5 billion debanking lawsuit from Florida to New York federal court, arguing that the terms governing the president's now-closed accounts require the case to be litigated there.

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Analyst Who Claimed She Was Fired For Needing Sleep Settles

By Pete Brush

A New Jersey woman who claimed she was fired by Centerview Partners after disclosing she needed consistent sleep to manage a health disorder settled her case against the investment bank ahead of a jury trial in New York federal court, the bank said Monday.

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Justices Deny Review Of Consultancy's $5M SBA Loan Suit

By Elaine Briseño

The U.S. Supreme Court on Monday let stand a lower court ruling that found a risk management firm's $5 million loan did not qualify for debt relief from the U.S. Small Business Administration during the COVID-19 pandemic.

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Senate Dems Aim To Require Refunds Of Illegal Trump Tariffs

By Dylan Moroses

Senate Democratic lawmakers introduced legislation Monday to require the federal government to issue refunds to importers for duties paid that were imposed by President Donald Trump under the International Emergency Economic Powers Act, following the U.S. Supreme Court's ruling deeming those measures unlawful.

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Roundup

NJ Statehouse Catch-Up: Family Leave, PFAS, Farmland Tax

By George Woolston

In his final days as New Jersey governor, Phil Murphy was busy signing a slew of measures reforming existing legislation as well as bills aimed at breaking new ground.

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Debt Services Firm Challenges Connecticut Banking Penalties

By Aaron Keller

An Illinois company that provides administrative services to debt adjusters has sued the Connecticut Department of Banking, challenging an administrative order to make restitution to Constitution State customers and potentially pay up to $100,000 for each alleged violation of debt adjustment and money transmission licensing rules.

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Capital One Fights Consumers' Sanction Bid In Privacy Suit

By Bonnie Eslinger

Capital One urged a California federal judge Monday to reject customers' sanctions bid for allegedly failing to provide sufficient discovery in privacy litigation, saying the bank provided requested discovery and the information consumers now seek relates to a different factual and legal theory that they "pivoted" to after discovery closed.

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Northern Trust Wants Heiress' Fraud Claims Tossed

By Emilie Ruscoe

The Northern Trust Co. seeks to shed certain claims that it failed to prevent a former vice president from looting the trust of an elderly banking heiress, arguing that it was also a victim of the alleged scheme and "no company is immune to dishonest actors."

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Supreme Court Rejects Cafe's Petition Over $2.86M Grant

By Caroline Simson

The U.S. Supreme Court on Monday turned away a Georgia cafe's petition seeking guidance on the standards by which arbitral awards can be vacated, after the Eleventh Circuit refused to revive its claims against a bank that returned a $2.86 million COVID-19-era grant on suspicion of fraud.

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6 Things Bankers Need To Know About AI-Powered M&A

Artificial intelligence is now ingrained in banking mergers and acquisitions, and bankers should learn the key elements of the technology's competency and limits, such as that AI-enhanced reviews do not replace compliance, despite their speed and depth, say attorneys at Spencer Fane.

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The Law Firm Merger Diaries: Leadership Strategy After Day 1

For law firm leaders, ensuring a newly combined law firm lives up to its promise, both in its first days of operation and well after, includes tough decisions, clear and specific communication, and cheerleading, says Peter Michaud at Ballard Spahr.

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ABA Says Trump Attacks On Justices Cross 'Dangerous Line'

By Bonnie Eslinger

The American Bar Association on Monday condemned President Donald Trump's "personal attacks" against U.S. Supreme Court justices after Friday's 6-3 decision struck a blow to his tariff policy, saying the remarks "cross a dangerous line that threatens the safety of the judiciary and our judicial process."

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ICE Atty Whistleblower Rips 'Broken' Agent Training Program

By Dorothy Atkins

An ex-U.S. Immigration and Customs Enforcement attorney testified before a Senate committee Monday that he recently resigned so he could blow the whistle on ICE-officer training cuts amid its hiring surge, slamming the truncated program for being "deficient, defective and broken" and accusing supervisors of secretly pushing "blatantly" unconstitutional orders.

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'Wackadoo': 9th Circ. Awarding Stays 'Like Candy,' Judge Says

By Jeff Overley

The Ninth Circuit is defying U.S. Supreme Court precedent and supersizing its immigration docket by freely awarding lengthy deportation reprieves, according to a new dissent that described a "Wackadoo" realm where noncitizens can safely await "the next Democrat administration."

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Feds Fight Ex-Judge's Bid For New Trial In ICE Arrest Case

By Parker Quinlan

The federal government asked a federal judge to deny acquittal and new trial motions made by a Wisconsin state judge convicted of directing a defendant in her courtroom to use a restricted staircase to avoid removal by the U.S. Department of Homeland Security.

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2nd Circ. Chief Judge To Take Senior Status

By Courtney Bublé

Chief Judge Debra Ann Livingston of the Second Circuit will take senior status over the summer, giving President Donald Trump another appellate seat to fill.

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Brief

Snow Delays Goldstein Deliberations Until Tuesday

By Jared Foretek

The jury in SCOTUSblog founder Thomas Goldstein's tax evasion trial won't be back to deliberate until Tuesday, after snow prompted courts in the District of Maryland to close Monday.

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Analysis

How Greenberg Thinks Tariff Ruling Could Affect Dealmaking

By Al Barbarino

The U.S. Supreme Court's ruling invalidating IEEPA-based tariffs gave dealmakers clarity on how to pursue potential refund rights in mergers and acquisitions, but President Donald Trump's swift announcement of new global tariffs has immediately reintroduced dealmaking uncertainty.

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Analysis

High Court Crafts Escape Hatch In Review Of Climate Torts

By Keith Goldberg

The U.S. Supreme Court on Monday agreed to determine whether a climate change lawsuit against fossil fuel companies can proceed in state court, but the justices also created a potential off-ramp by questioning whether they can actually hear the case.

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Catching Up With Delaware's Chancery Court

By Jeff Montgomery

Legal fee feuds, noncompete pact breach fights and post-closing "earnout" battles piled up in Delaware's equity and commercial law venues last week, with top jurists briefing lawmakers on efforts to better manage crowded dockets and expanded benches.

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