Fintech

  • July 09, 2024

    Chase Bank Reaches Deal In Data Security Patent Suit

    JPMorgan Chase Bank NA indicated Tuesday that it has settled a lawsuit in Texas federal court over data security patents developed by a former Israeli air defense officer who worked on technological solutions for "survivability capabilities against systemic failures."

  • July 09, 2024

    Slam By CFTC Member Backs Sanctions Bid, Forex Firm Says

    A foreign exchange firm that accused the U.S. Commodity Futures Trading Commission of misconduct in bringing an action against it has cited recent criticism of the agency's enforcement division by one of its commissioners in support of its bid to toss the case and sanction the regulator.

  • July 09, 2024

    CFPB Moves To Unfreeze Credit Card Late Fee Rule In Texas

    The Consumer Financial Protection Bureau has asked a Texas federal judge to formally dissolve a preliminary injunction that has been blocking the agency's $8 credit card late fee rule from taking effect, arguing that the justification of the injunction — the CFPB's allegedly unconstitutional funding structure — no longer holds.

  • July 09, 2024

    Del. Chancellor Sends SwervePay Merger Suit Toward Trial

    Delaware's Court of Chancery on Tuesday rejected dismissal for an amended complaint filed by e-payment venture SwervePay accusing buyers affiliated with payment collection business Ontario Systems LLC of overstating by tens of billions revenue-producing transactions expected under a proposed 2020 tie-up.

  • July 09, 2024

    Fintech Firm Ingo Sued For Data Breach Disclosure Lag

    Fintech deposit underwriter Ingo Money Inc. faces a proposed class action alleging it waited seven months to notify consumers that it had been successfully targeted by hackers, during which time a "gold mine" of personal information was purportedly in the hands of unauthorized parties.

  • July 09, 2024

    2 Cooperators In Bankman-Fried Case To Be Sentenced In Fall

    Two former FTX executives who pled guilty and testified for the government at the trial of Sam Bankman-Fried, the collapsed cryptocurrency exchange's founder, will be sentenced this fall, a New York federal judge said Tuesday.

  • July 09, 2024

    Ex-DOJ Atty Tells Guo Jury Of Illicit Extradition Campaign

    Prominent Chinese Communist Party critic Miles Guo capped off his defense to $1 billion fraud charges Tuesday with testimony from a former U.S. Department of Justice attorney, who admitted to participating in a plot to lobby the U.S. government for Guo's extradition to China.

  • July 09, 2024

    McDermott Lands 22-Year Latham Securities Litigator In LA

    McDermott Will & Emery has brought in the global co-chair of Latham & Watkins LLP's securities litigation and professional liability practice group to join its Los Angeles office.

  • July 09, 2024

    Fed's Powell Backs Do-Over For Basel Bank Capital Plan

    Federal Reserve Chair Jerome Powell told senators on Tuesday that he supports a reproposal of federal regulators' Basel III endgame overhaul to big-bank capital requirements, suggesting the package is being rethought significantly enough to merit a whole new draft before it can be finalized.

  • July 08, 2024

    Fintech Co. Current Can't Stop Ex-GC's Depo In Bias Case

    Fintech company Current must allow the deposition of its former general counsel in a suit claiming it fostered a discriminatory work culture, a New York federal magistrate judge has ruled though the judge limited the deposition to focus on discrimination the general counsel may have personally experienced or witnessed.

  • July 08, 2024

    Paxful Co-Founder Admits Anti-Money Laundering Failures

    Paxful co-founder Artur Schaback faces a maximum penalty of five years in prison after he pled guilty in California federal court Monday to conspiring to do without effective anti-money laundering policies for the cryptocurrency exchange platform, the U.S. Department of Justice announced.

  • July 08, 2024

    CFPB Backs Bank In Ill. Customer's 'Schumer Box' Suit

    The Consumer Financial Protection Bureau has thrown its support behind an Illinois bank in litigation over allegedly lacking repayment disclosures in its customer credit statements, saying the regulation at issue does not apply to the plaintiff's form of credit.

  • July 08, 2024

    Wall Street Watchdog Backs SEC In Texas Crypto Market Suit

    Wall Street watchdog Better Markets Inc. threw its support behind the U.S. Securities and Exchange Commission on Monday as the agency seeks to thwart an attempt by crypto industry groups to strike down a new rule that expands the definition of "dealers" under securities law.

  • July 08, 2024

    FDIC Downgrades Green-Focused Bank On CRA Exam

    The Federal Deposit Insurance Corp. has dinged Forbright Bank, a sustainability minded bank started by former Democratic presidential candidate John Delaney, over an allegedly "illegal credit practice" tied to a since-discontinued third-party partnership, lowering its latest community lending exam grade.

  • July 08, 2024

    Conn. Asset Manager Offers Grayscale $2M Out For Ad Suit

    A Fairfield, Connecticut-based asset management firm that accused Grayscale Investments LLC of falsely advertising its services in order to lure investors informed the company and the Constitution State court hearing its lawsuit that it would be willing to settle the matter for a just below $2 million payment.

  • July 08, 2024

    SEC Says Crypto Promoter Should Face Trial Before Appeal

    The U.S. Securities and Exchange Commission urged a Texas federal court to move forward with a trial over whether a crypto influencer properly disclosed his promotion of a project, rather than wave through his bid to ask the Fifth Circuit to weigh in on whether securities laws applied to his case.

  • July 08, 2024

    Milbank Taps Ex-CFTC Senior Official From Jones Day

    A former U.S. Commodity Futures Trading Commission division director has joined Milbank LLP as a partner in the firm's Washington office, where he will focus on regulatory and enforcement matters related to derivatives, financial market infrastructure and digital assets.

  • July 08, 2024

    The Biggest Patent Rulings Of 2024: A Midyear Report

    The Federal Circuit issued its first en banc patent decision since 2018, a circuit judge's suspension was solidified and courts shed further light on foreign damages and skinny labels. Here's a look back at these rulings and other top patent decisions from the first half of 2024.

  • July 05, 2024

    Calif. Privacy Agency Floats Data Broker Registry Rules

    California's privacy agency on Friday kick-started the process for formalizing rules to guide data brokers on how to properly register under a groundbreaking state law that imposes significant new data deletion and disclosure obligations on these companies. 

  • July 05, 2024

    How Reshaped Circuit Courts Are Faring At The High Court

    Seminal rulings from the U.S. Supreme Court's latest term will reshape many facets of American society in the coming years. Already, however, the rulings offer glimpses of how the justices view specific circuit courts, which have themselves been reshaped by an abundance of new judges.

  • July 05, 2024

    Coinbase Seeks Access To SEC Chair's Private Emails

    Coinbase Inc. is pushing for access to the personal email correspondence of U.S. Securities and Exchange Commission Chair Gary Gensler, telling a New York federal judge that the private communications could shed light on the regulator's views of the cryptocurrency industry and downplaying the SEC's objections to the company's allegedly "intrusive" subpoena.

  • July 05, 2024

    Breaking Down The Vote: The High Court Term In Review

    The U.S. Supreme Court's lethargic pace of decision-making this term left the justices to issue a slew of highly anticipated and controversial rulings during the term's final week — rulings that put the court's ideological divisions on vivid display. Here, Law360 takes a data dive into the numbers behind this court term.

  • July 05, 2024

    High Court Flexes Muscle To Limit Administrative State

    The U.S. Supreme Court's dismantling of a 40-year-old judicial deference doctrine, coupled with rulings stripping federal agencies of certain enforcement powers and exposing them to additional litigation, has established the October 2023 term as likely the most consequential in administrative law history.

  • July 05, 2024

    The Sharpest Dissents From The Supreme Court Term

    The U.S. Supreme Court's session ended with a series of blockbuster cases that granted the president broad immunity, changed federal gun policy and kneecapped administrative agencies. And many of the biggest decisions fell along partisan lines.

  • July 05, 2024

    5 Moments That Shaped The Supreme Court's Jan. 6 Decision

    When the high court limited the scope of a federal obstruction statute used to charge hundreds of rioters who stormed the Capitol, the justices did not vote along ideological lines. In a year marked by 6-3 splits, what accounts for the departure? Here are some moments from oral arguments that may have swayed the justices.

Expert Analysis

  • Banks As Crypto Custodians May Rest On SEC Bulletin's Fate

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    Banks' willingness to accept custody of cryptocurrency assets, like the exchange-traded funds approved by the U.S. Securities and Exchange Commission this spring, may hinge on whether a 2022 SEC accounting bulletin directing banks to track customers' digital assets on their balance sheets can survive Congress' attempts to strike it down, says Roger Chari at Duane Morris.

  • Opinion

    Why The Patent Eligibility Restoration Act Can Spur Progress

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    Patent practitioners have long wrestled with the effects of U.S. Supreme Court decisions that have muddied the waters of what can be patented, but the Patent Eligibility Restoration Act can change that, and those not involved with patents on a day-to-day basis can help get this act passed, says John White at Harness IP.

  • After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1

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    The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.

  • Takeaways From Regulators' £61.6M Citigroup Trading Fine

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    Following the Financial Conduct Authority and Prudential Regulation Authority’s recent significant fining of Citigroup for its catastrophic trading error, and with more enforcement likely, institutions should update their controls and ensure system warnings do not become routine and therefore disregarded, says Abdulali Jiwaji at Signature Litigation.

  • Big Banks Face Potential Broader Recovery Plan Rules

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    The Office of the Comptroller of the Currency's recent call for potentially subjecting more banks to recovery planning standards would represent a significant expansion of the scope of the recovery guidelines, and banks that would be affected should assess whether they’re prepared, say attorneys at Debevoise.

  • Recruitment Trends In Emerging Law Firm Frontiers

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    BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.

  • Series

    Glassblowing Makes Me A Better Lawyer

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    I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.

  • Money, Money, Money: Limiting White Collar Wealth Evidence

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    As courts increasingly recognize that allowing unfettered evidence of wealth could prejudice a jury against a defendant, white collar defense counsel should consider several avenues for excluding visual evidence of a lavish lifestyle at trial, says Jonathan Porter at Husch Blackwell.

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

  • Firms Must Rethink How They Train New Lawyers In AI Age

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    As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.

  • High Court's BofA Ruling Leaves State Preemption Questions

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    A recent U.S. Supreme Court decision in Cantero v. Bank of America sheds light on whether certain state banking regulations apply to federally chartered banks, but a circuit split could still force the Supreme Court to take a more direct position, says Brett Garver at Moritt Hock.

  • Cyber Takeaways For Cos. From Verizon Data Breach Report

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    Camilo Artiga-Purcell at Kiteworks analyzes the key findings of the 2024 Verizon Data Breach Investigations Report from a legal perspective, examining the implications for organizations' cybersecurity strategies and compliance efforts.

  • Think Like A Lawyer: Always Be Closing

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    When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.

  • 3 Ways To Fight Alice Rejections Of Blockchain Patents

    Excerpt from Practical Guidance
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    With blockchain-related patent application filings on the rise, Thomas Isaacson at Polsinelli offers strategies for responding to U.S. Patent and Trademark Office determinations that the blockchain network is just a generic computer and patent-ineligible under the U.S. Supreme Court's 2014 Alice v. CLS Bank decision.

  • Deciphering SEC Disgorgement 4 Years After Liu

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    Since the U.S. Supreme Court’s 2020 decision in Liu v. U.S. Securities and Exchange Commission to preserve SEC disgorgement with limits, courts have continued to rule largely in the agency’s favor, but a recent circuit split over the National Defense Authorization Act's import may create hurdles for the SEC, say attorneys at Ropes & Gray.

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