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The American Lawyer

Wall Street Firms Lead on Big Brokerage Merger

Wachtell, Sullivan & Cromwell, Simpson Thacher and Fried Frank are advising on a $4 billion cash-and-stock merger that will see Scottrade be acquired by TD Ameritrade and Toronto-Dominion Bank, better known as TD Bank. The deal unites two of the largest discount brokerages in the U.S.
36 minute read

Daily Report Online

Jury Weighing Whether Directors of Failed Bank Must Repay Feds

Closing arguments were heard in the Federal Deposit Insurance Corp.'s $17 million negligence lawsuit against directors of the defunct Buckhead Community Bank.
8 minute read

National Law Journal

MetLife Fights 'Too Big to Fail' Label in DC Circuit

The federal government's assessment was flawed, the insurer told a three-judge panel Monday.
10 minute read

Daily Business Review

FinCEN's New Anti-Money Laundering Rule Extends Federal Oversight

A proposed rule would tighten anti-money laundering limits in the realm beyond the usual banking world, writes attorney Gabriel Caballero Jr.
8 minute read

Corporate Counsel

Court Urged to Reject 'Blanket Sealing' of Monitor's Report in HSBC Case

The Second Circuit case tests the secrecy of compliance reports.
12 minute read

National Law Journal

FINRA Blasted for Not Fixing 'Broken' BrokerCheck

PIABA, a group of lawyers who represents investors, says that FINRA wasted money on TV advertising pushing its 'flawed' system.
8 minute read

The Legal Intelligencer

Flagstar Bank, FSB v. Wampole, PICS Case No. 16-1280 (Pa. Super. Oct. 11, 2016) (memorandum) Stabile, J. (8 pages).

By | October 21, 2016
A bank's entry into a consented fine agreement with the Consumer Financial Protection Bureau for unfair and deceptive business practices did not constitute a substantial change in the facts or evidence to overcome the law of the case doctrine and justify setting aside a sheriff's sale, where the trial court had previously ruled that the bank had sufficiently proved mortgagors' default. Order of the trial court affirmed.
6 minute read

National Law Journal

Court Urged to Reject 'Blanket Sealing' of Monitor's Report in HSBC Case

A federal appeals court was urged Thursday to allow the public to read a 1,000-page report from the compliance monitor who is overseeing a deferred-prosecution agreement between HSBC Bank USA and the U.S. Justice Department. Prosecutors and lawyers for the bank are fighting in the U.S. Court of Appeals for the Second Circuit to overturn a judge's unsealing order.
14 minute read

The American Lawyer

US Agency Paid Two Firms Over $1 Billion in Battle With Banks

Kellogg Huber and Korein Tillery earned more than $1 billion in contingency fees for leadling the National Credit Union Administration's legal fight with big banks.
24 minute read

Corporate Counsel

Will the DOJ Find Deutsche Bank 'Too Big to Jail'?

It's rare for the public to gain insight into Justice's deliberations on the appropriateness of indicting a major financial institution, but a House committee report in July provided exactly that.
17 minute read

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