Fintech

  • January 10, 2025

    SafeMoon CEO Wants 'Misleading' Reddit Post Explained

    The CEO of bankrupt cryptocurrency asset company SafeMoon LLC asked a Brooklyn federal judge Friday to order the government to explain whether it had a role in a social media user's "misleading" post that promised to connect SafeMoon investors with the U.S. government.

  • January 10, 2025

    Feds Say Russians Behind North Korea-Linked Crypto Mixers

    Georgia federal prosecutors on Friday announced money laundering and unlicensed money transmission charges for three Russian nationals who allegedly operated crypto mixing services previously sanctioned over their apparent use by North Korean hackers and other cybercriminals.

  • January 10, 2025

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

    This past week in London has seen legal services group RBG Holdings face a winding-up petition from founder Ian Rosenblatt amid soured talks about the group's leadership, J.P. Morgan file a fresh claim against WeRealize, retailer Asda face an intellectual property claim over a specific type of mandarin and financier Nathaniel Rothschild sue German entrepreneur Lars Windhorst and his investment vehicle Tennor International. Here, Law360 looks at these and other new claims in the U.K.

  • January 10, 2025

    Taxation With Representation: Kirkland, Davis Polk, Wachtell

    In this week's Taxation With Representation, Constellation acquires Calpine, Cintas seeks a deal with UniFirst Corp., Stryker Corp. acquires Inari Medical Inc., and Paychex Inc. buys Paycor.

  • January 10, 2025

    Crypto Buyers Say They Were Duped Out Of Millions

    Investors in two crypto projects — Phoenix Community Capital and its offshoot, Xeta Capital — alleged in Tennessee federal court that the projects' leaders duped them out of tens of millions of dollars with false promises of "returns, transparency, and the legitimacy of the enterprises."

  • January 09, 2025

    CFPB Bars Ex-Agency Attys From Revived Innovation Policies

    The Consumer Financial Protection Bureau has said it will not consider applications for its rebooted no-action letter and compliance sandbox policies when those applications are submitted by financial service companies represented by former bureau attorneys as outside counsel.

  • January 09, 2025

    Susman Godfrey Vies To Help Lead Crypto DAO Suit

    Susman Godfrey LLP has asked a federal judge in California to allow it to serve as co-lead counsel in an investor lawsuit against decentralized autonomous organization Lido DAO and its large institutional investors over allegedly unregistered securities sold in the form of crypto tokens.

  • January 09, 2025

    CFPB Taps First Open Banking Industry Standards Setter

    The Consumer Financial Protection Bureau has given Financial Data Exchange Inc. the green light to set standards for open banking in a first of its kind approval aimed at giving customers more control over their financial data.

  • January 09, 2025

    FTX Squabbles With Crypto Startup Over EU Distributions

    The estate of bankrupt crypto exchange FTX said it had no involvement with a startup cryptocurrency exchange's announcement that it had purchased FTX EU and would be handling distributions to former customers of the FTX European subsidiary.

  • January 09, 2025

    Gordon Rees Adds Former Fintech GC In NY, Miami

    Gordon Rees Scully Mansukhani LLP said Thursday that it has brought on a new financial services partner who recently served as general counsel at fintech firms.

  • January 09, 2025

    Chamber, Bank Groups Press For Halt To CFPB Overdraft Rule

    The U.S. Chamber of Commerce, the Bank Policy Institute and several other banking industry groups have added their voices in opposition to the Consumer Financial Protection Bureau's new $5 overdraft fee rule through amici curiae briefs filed in Mississippi federal court.

  • January 09, 2025

    Trump's Return Brings 'Deeper Anxiety' To DOJ Fraud Attys

    White collar practitioners say they've heard from U.S. Department of Justice attorneys who are anxiously bracing for the possibility of working with fewer resources while confined to narrower enforcement priorities after Donald Trump returns to the Oval Office.

  • January 08, 2025

    CFPB Plots Personal Lender Oversight, Funds Access Rules

    The Consumer Financial Protection Bureau said Wednesday that it plans to pursue a pair of rulemakings aimed at speeding up the availability of deposited funds at banks and bringing larger nonbank personal lenders under its supervision.

  • January 08, 2025

    Fed. Circ. Grills USAA On Bid To Revive Patent In $218M Case

    The United Services Automobile Association faced a skeptical Federal Circuit panel Wednesday as it argued that an administrative board's invalidation of claims in its check deposit patent, which is part of a $218 million verdict against PNC Bank, conflicted with a prior decision upholding the patent.

  • January 08, 2025

    Quantitative Trader Accused Of Stealing Firm's Source Code

    New York federal prosecutors have accused a quantitative trader of stealing the secrets of a billion-dollar company's source code from his former employer to use at his own trading firm, according to an indictment unsealed Wednesday in New York federal court.

  • January 08, 2025

    NY Fed Beats Puerto Rico Bank's Suit Over Master Account

    A New York federal judge on Wednesday tossed without prejudice a Puerto Rico bank's suit that sought to block the closure of its Federal Reserve master account, finding the New York Fed's interpretation of the Federal Reserve Act was correct and that the bank does not have a statutory right to a master account.

  • January 08, 2025

    PowerPlan To Pay $24M, Ending Rival's Monopoly Claims

    Roper Technologies subsidiary PowerPlan Inc. has agreed to pay $24 million in a settlement with a rival firm formed by former employees who said the utility software giant tried to lock them out of the market by threatening litigation against them and prospective clients.

  • January 08, 2025

    Shkreli Wants Wu-Tang To Weigh In On Crypto Album Fight

    Martin Shkreli told a Brooklyn federal judge that the writer and producer of the one-of-a-kind Wu-Tang Clan album should weigh in on their rights to the work as the crypto project that purchased the album presses ahead with a suit accusing the pharma bro of keeping copies of the album after he was ordered to give them up.

  • January 08, 2025

    Musk Appeals $56B Pay Package Rejection To Del. High Court

    Tesla Inc. CEO Elon Musk and other top Tesla executives officially appealed to the Delaware Supreme Court on Wednesday a series of chancellor rulings that scuttled Musk's $56 billion, 10-year pay package and awarded a shareholder's counsel $345 million in fees in the yearslong derivative dispute.

  • January 08, 2025

    Canadian Payment Systems Co. Hits Ch. 15 As It Seeks Buyer

    Vancouver-based Felix Payment Systems Ltd. has filed a Chapter 15 petition in North Carolina with CA$19 million ($13.2 million) in liabilities, saying it needs to shield its assets from creditors as it moves to restructure through Canadian insolvency proceedings.

  • January 08, 2025

    Exiting CFTC Chair Warns Crypto Without Rules 'Ends Badly'

    The outgoing chair of the U.S. Commodity Futures Trading Commission Rostin Behnam used his final speech on Wednesday to urge lawmakers and regulators to address the "gap" in oversight of cryptocurrency markets.

  • January 08, 2025

    Criminal Case Against Terraform Founder Said To Exceed SEC's

    The $40 billion criminal case against Terraform founder Do Kwon contains evidence such as recordings and seized mobile phones that exceed what securities regulators presented when they prevailed against him at a civil fraud trial, prosecutors said Wednesday.

  • January 08, 2025

    Chancery Awards $176M Atty Fee In Tesla Board Pay Suit

    Delaware's chancellor approved on Wednesday a $176.16 million Tesla stockholder class attorney fee award to three firms for a settlement of an excessive director compensation suit that is expected to return $734 million to the company through a combination of director stock, option and cash givebacks.

  • January 07, 2025

    NFT Buyers Can't Sue Over Market Fluctuations, Gallery Says

    A Metaverse-based art collection club has urged a federal judge to dismiss a fraud suit brought by investors claiming it lied about the benefits of investing in its members-only NFT opportunity, arguing that the alleged losses aren't attributable to anything other than market fluctuations and that New York's consumer protection laws do not protect out-of-state investors.

  • January 07, 2025

    Coinbase Judge Sends Crypto's Howey Question To 2nd Circ.

    A New York federal judge Tuesday waved through a request from Coinbase to have the Second Circuit weigh in on whether the cryptocurrency transactions on its platform are investment contracts, putting the U.S. Securities and Exchange Commission's ongoing registration suit against the crypto exchange on ice for now.

Expert Analysis

  • New Year, New Risks: 8 Top Cyber Issues For Finance In 2025

    Author Photo

    As financial institutions forge ahead in 2025, they must strike a delicate balance between embracing technological innovation and guarding against its darker threats, which this year could include everything from supply chain vulnerabilities to deepfakes, say attorneys at Baker Donelson.

  • 5th Circ.'s Nasdaq Ruling Another Piece In DEI Policy Puzzle

    Author Photo

    The Fifth Circuit's recent en banc opinion vacating Nasdaq's board diversity listing rule wades into the hotly debated topic of diversity, equity and inclusion initiatives at a time when many public companies are navigating the attention that DEI commitments are drawing from activists and shareholders, say attorneys at Debevoise.

  • Series

    Playing Esports Makes Me A Better Lawyer

    Author Photo

    Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.

  • Lessons From The SEC's 2024 Crackdown On AI Washing

    Author Photo

    AI washing was the subject of increased scrutiny from the U.S. Securities and Exchange Commission in 2024 following a surge in the commercial adoption of generative artificial intelligence technologies in 2023, highlighting the importance of transparency, accuracy and accountability when communicating about AI, say attorneys at Perkins Coie.

  • An Associate's Guide To Career Development In 2025

    Author Photo

    As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.

  • The Securities Litigation Trends That Will Matter Most In 2025

    Author Photo

    2025 is shaping up to be a significant year for securities litigation, as plaintiffs and defendants alike navigate shifting standards for omission theories of liability, class certification, risk disclosure claims and more, say attorneys at Willkie.

  • Predicting The Lasting Changes CFPB May Face In 2025

    Author Photo

    President-elect Donald Trump and the incoming Republican-controlled Congress' likely attempts to reshape the Consumer Financial Protection Bureau could significantly alter its rulemaking, supervisory and enforcement abilities for years to come, says Jim Sandy at McGlinchey Stafford.

  • How White Collar Enforcement May Shift In Trump's 2nd Term

    Author Photo

    After President-elect Donald Trump returns to the White House next month, the administration’s emphasis on immigration laws, drug offenses and violent crime will likely reduce the focus on white collar crime overall, but certain areas within the white collar world may see increased activity, say attorneys at Keker Van Nest.

  • New Trump Admin May Bring Financial Oversight Turbulence

    Author Photo

    As President-elect Donald Trump prepares to begin his second term, his top financial market regulatory and securities law enforcement appointees, campaign promises, and regulatory preferences foretell a period of muddy regulatory waters, say attorneys at Kroll.

  • The Justices' Securities Rulings, Dismissals That Defined '24

    Author Photo

    The U.S. Supreme Court's 2024 securities rulings led to increased success for defendants' price impact arguments, but the justices' decisions not to weigh in on important issues relating to the Private Securities Litigation Reform Act's pleading requirements may be just as significant, say attorneys at Skadden.

  • 10 Noteworthy CFPB Developments From 2024

    Author Photo

    In a banner year for consumer finance regulation, the Consumer Financial Protection Bureau made significant strides in its efforts to rein in Big Tech and nonbank financial firms, including via rules regarding open banking, credit card late fees, and buy now, pay later products, say attorneys at Wiley.

  • Series

    Fixing Up Cars Makes Me A Better Lawyer

    Author Photo

    From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.

  • Making The Pitch To Grow Your Company's Legal Team

    Author Photo

    In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.

  • The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025

    Author Photo

    U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.

  • Opinion

    Justices Rightly Corrected Course In Nvidia And Facebook

    Author Photo

    By dismissing both the Nvidia and Facebook class actions, over investors' ability to hold corporations accountable for fraud, the U.S. Supreme Court was right in refusing to favor corporations over transparency, and reaffirmed its commitment to corporate accountability, investor protection and the rule of law, says Laura Posner at Cohen Milstein.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Fintech archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!