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National Law Journal

Trump's Bid to Axe Public Service Loan Forgiveness Would Sever Lifeline, Opponents Say

A decade-old program that forgives the federal student loan debt of those who work in public service jobs for 10 years would be eliminated under President Donald Trump's proposed budget.
18 minute read

National Law Journal

DC Circuit Shows No Sign of Punting on CFPB's Constitutionality

The D.C. Circuit's en banc argument in PHH v. CFPB was one of the hottest tickets in Washington on Wednesday. Here are some highlights from the 90-minute hearing over the constitutionality of the single-director structure at the President Barack Obama-era agency long in the crosshairs of Republicans and criticized by business advocates and financial companies.
6 minute read

Legaltech News

Major Financial Institutions Make Landmark Blockchain Investment

Bank of America, Wells Fargo and HSBC are among the banks and financial firms that announced they would invest in R3's distributed ledger technology.
4 minute read

The American Lawyer

Major Financial Institutions Make Landmark Blockchain Investment

Bank of America, Wells Fargo and HSBC are among the more than 40 banks and financial firms that announced Tuesday they would invest in R3's distributed ledger, or blockchain, technology.
10 minute read

National Law Journal

The CFPB Is Fighting for Its Life. Here's What to Know

From the day it was born out of the Dodd-Frank reforms, the Consumer Financial Protection Bureau has faced questions over the constitutionality of its independent, single-director structure. On Wednesday, the U.S. Court of Appeals for the D.C. Circuit will take a step toward providing an answer, as a full panel of 11 judges will hear arguments in the mortgage provider PHH Corp.'s appeal of a $109 million penalty. Here are seven things to know.
6 minute read

Corporate Counsel

Chief Compliance Officer Fined, Barred From Work as Banamex Reaches NPA

Once again, the federal government has held a chief compliance officer personally liable for failing to stop a company's misconduct. The CCO worked at Banamex USA in Los Angeles, a banking subsidiary of Citigroup Inc. that just signed a nonprosecution agreement on Monday, but agreed to pay a $97.4 million penalty for money laundering and other criminal violations.
11 minute read

Daily Business Review

'Shared' Password Leads to $3.73M Verdict Against Boca Raton Company

Using someone else's login credentials can have dire consequences, a federal case showed.
8 minute read

Daily Business Review

Hunton & Williams Hires Financial and Regulatory Attorney To Boost Its Banking and Compliance Practice

Hunton & Williams has hired Standard Chartered Bank's former senior legal regulatory counsel Juan Azel to expand its global banking and regulatory compliance practice.
2 minute read

Litigation Daily

Shout-Out: A Pair of Wins for Simpson Thacher Class Action Star

It was a one-two punch for Simpson Thacher & Bartlett litigator Joseph McLaughlin, who racked up a pair of wins this week.
9 minute read

The Recorder

9th Circuit Clamps Down on Class Action Plaintiffs Who Dodge Federal Jurisdiction

Plaintiffs who have been removed to federal court can't slip out by amending pleadings in ways intended to defeat federal jurisdiction, the court ruled in a 2-1 decision.
4 minute read

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