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New York Law Journal

Engelmayer Gives Go-Ahead for Antitrust Swaps Suit

U.S. District Judge Paul Engelmayer of the Southern District of New York will allow to go forward a suit claiming a dozen of the biggest banks colluded against competition in the $230 trillion interest rate swap market.
4 minute read

National Law Journal

One Federal Agency Won't Fight the CFPB, But Criticism Swells

As legislation advances to undo the Consumer Financial Protection Bureau's new anti-arbitration rule, a banking regulator appointed by President Donald Trump on Monday passed up pursuing an alternative path to erasing the Obama-era agency's plan to ban contract terms that prohibit banking consumers from filing class actions.
7 minute read

New York Law Journal

Bringing Non-U.S. Defendants Into NY Court, Just Because They Wired Dollars?

Alex Lakatos and Marc R. Cohen write: Most of the world's dollar transactions flow through correspondent bank accounts in New York. Thus, it is important to understand how using a New York correspondent account can subject a non-U.S. defendant to the jurisdiction of a New York court.
7 minute read

Daily Business Review

New Wells Fargo Scandal Seen as Proof Controls Still Lacking

Wells Fargo & Co.'s disclosure that it may have pushed thousands of car buyers into loan defaults and repossessions by charging them for unwanted insurance is raising doubts about the bank's ability to put proper controls in place.
13 minute read

National Law Journal

Contrasting Views of Investors Dominate Closings in Shkreli Trial

Lawyers making closing arguments in the securities fraud trial of ex-pharmaceutical executive Martin Shkreli on Thursday painted contrasting portraits of investors who were allegedly defrauded by the so-called “Pharma Bro.”
5 minute read

National Law Journal

Uber on a Hiring Spree, CFPB Arbitration Rule in Senate's Hands: Roundup

Uber's gone on a lobbying bonanza, the SEC awarded a government employee for helping regulators with an enforcement action, and more.
10 minute read

Daily Business Review

Libor Funeral Set for 2021 as FCA Abandons Scandal-Tarred Rate

Libor, the nearly 50-year-old global borrowing benchmark that became a byword for corruption, is headed for the trash heap of history.
8 minute read

Legaltech News

Lawyer's 'Inadvertent' E-Discovery Failures Led to Wells Fargo Data Breach

The breach highlights the increasing risks of relying on unfamiliar e-discovery technology—and the potential liability exposure to lawyers.
5 minute read

New York Law Journal

De Hernandez v. Wells Fargo Advisors, LLC

Panel Did Not Exceed Authority, Disregard Law On Convenience Accounts in Refusing Transfer
2 minute read

National Law Journal

OCC Invitation Prompts Fintech to Apply for Traditional Bank Charter

Varo Money, a mobile banking startup, announced this week it has applied to become a national bank.
3 minute read

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