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New Jersey Law Journal

Judge Rules Bank Not Liable in $2M Medical Office Theft

A New Jersey judge has ruled that a bank cannot be held liable in the case of a medical office billing clerk who allegedly stole $2 million from her employer and deposited the money into an account she set up at the bank.
3 minute read

Legaltech News

CFTC Announces Innovation Lab for Fintechs

CFTC acting chairman J. Christopher Giancarlo said the LabCTFC program will provide “21st century regulation for today's digital markets.”
7 minute read

National Law Journal

FCPA Pilot Program Nets 22 Voluntary Disclosures in Past Year: DOJ

The U.S. Department of Justice's pilot program for violators of the Foreign Corrupt Practices Act brought in 22 voluntary disclosures in its first year, a significant increase from 13 voluntary disclosures the year before.
12 minute read

National Law Journal

CFTC Announces Innovation Lab for Fintechs

CFTC acting chairman J. Christopher Giancarlo introduced a new program for financial technology companies on Wednesday.
6 minute read

New Jersey Law Journal

NJ Rep. Hit With Ethics Complaint for Outing Activist Bank Lawyer

A New Jersey congressman is under fire for singling out a bank's lawyer, based on her political affiliations, in a letter to her boss—apparently leading to her departure.
5 minute read

National Law Journal

US Banking Examiner, Sanctioned After Wells Fargo Scandal, Probes His Agency

A senior U.S. national bank inspector punished in the aftermath of the Wells Fargo sham-accounts scandal sued federal banking regulators on Tuesday for information about their investigation of him. The examiner, Bradley Linskens, who joined the U.S. Office of the Comptroller of the Currency in 1993, filed the public-records lawsuit in Washington federal district court.
3 minute read

New York Law Journal

Terror-Attack Liability Could Hinder Innocent Banking Operations, Lawyer Argues

Holding the Jordan-based Arab Bank liable for damages caused to the victims of terror attacks could deal a blow to legitimate banking operations in the Middle East and could negatively affect American interests in the region, an attorney for the bank argued Tuesday before a federal appeals court.
4 minute read

The Legal Intelligencer

Phila. Sues Wells Fargo Over Alleged Discriminatory Lending

Philadelphia has sued Wells Fargo, alleging the bank violated the Fair Housing Act by targeting minority borrowers with high-risk and high-interest loans. The lawsuit is the first that a city has lodged against a financial institution since a recent U.S. Supreme Court ruling established that municipalities have standing to sue banks over allegedly discriminatory lending practices.
4 minute read

New York Law Journal

Class Certified in Action Over Misleading Investment Guidance

A Manhattan federal judge has certified a class to bring suit against an investment management firm accused of misleading the investing public with trumped-up performance data for its trading strategy.
2 minute read

The American Lawyer

A Big Bank Goes Bust, and Big Law Gets Left With The Bill

In the largest U.S. bank failure since 2010, New Orleans-based First NBC Bank Holding Co. filed for Chapter 11 protection in its home city Thursday. The bank, which went public in 2013, saw two top Am Law 100 firms listed among its 20 largest unsecured creditors.
16 minute read

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