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New York Law Journal

CFPB Takes on BoA, Wells Fargo and JPMorgan Chase Over Zelle Fraud

The agency said they will seek cash damages to repay consumer losses over fraudulent activity. It claims that customers at the banks lost more than $870 million to fraud since Zelle's inception.
3 minute read

National Law Journal

'Almost Impossible'?: Squire Challenge to Sanctions Spotlights Difficulty of Getting Off Administration's List

"It's a very serious list," Gibson, Dunn & Crutcher partner Adam Smith said of the Treasury Department's international sanctions list. "If you are on that list, there are very serious consequences that come with it."
4 minute read

Corporate Counsel

Trump Mulls Big Changes to Banking Regulation, Unsettling the Industry

“The FDIC is the glue that holds the whole banking industry together. Getting rid of it is a very bad idea," said Bill Isaac, who was FDIC chair from 1981 and 1985.
5 minute read

Law.com

The Week in Data Dec. 13: A Look at Legal Industry Trends by the Numbers

Catch up on data and insights from across the Law.com Newsroom, including President-elect Donald Trump's ongoing cases in Florida.
1 minute read

New York Law Journal

SEC Issues $6.75M Fine Against Financial Firm Led by Trump's Choice to Lead Commerce Dept.

The SEC said two Cantor Fitzgerald-controlled blank check companies failed to inform investors of ongoing talks with acquisition targets before going public.
3 minute read

National Law Journal

CFPB Orders Big Banks to Limit Overdraft Fees to $5. But Will Its Edict Stick?

The agency set an October 2025 deadline for the new restrictions to take hold, giving enforcement authority to the incoming Trump administration.
3 minute read

Corporate Counsel

As AI-Generated Fraud Rises, Financial Companies Face a Long Cybersecurity Battle

The use of generative AI to create highly realistic synthetic video, audio, photos or text to circumvent security measures installed by financial services is on the rise and threatens to cost companies billions of dollars, according to an alert recently issued by the U.S. Department of the Treasury's Financial Crimes Enforcement Network.
5 minute read

Connecticut Law Tribune

US Judge Throws Out Sale of Infowars to The Onion. But That's Not the End of the Road for Sandy Hook Families

U.S. Bankruptcy Judge Christopher Lopez said the bankruptcy trustee, acting in good faith, nevertheless "left the potential for a lot of money on the table." But plaintiffs counsel said his clients are remaining "resilient."
4 minute read

Corporate Counsel

Visa CLO-Turned-Vice Chair Seeing Payoff From Expanded Role

Kelly Mahon Tullier is among a legion of U.S. executives in recent years who have used their legal chief posts as a springboard to broader roles.
3 minute read

New York Law Journal

Morgan Stanley Hit With $15M Fine After Advisers Take Millions

The U.S. Securities and Exchange Commission said that Morgan Stanley failed to detect hundreds of unauthorized transfers that occurred between May 2015 and July 2022 and to “reasonably supervise” its employees.
2 minute read

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