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Texas Lawyer

Web 3.0: How Will Blockchain Impact Your Practice?

"There have been no shortage of government enforcement actions in this space, yet the law is far from settled," write Sidley Austin's Lilya Tessler, Scott Parel and Angela Zambrano.
8 minute read

The Legal Intelligencer

Stradley Ronon Bolsters Investment Management Practice With Vanguard Hire

Former Vanguard associate general counsel Brian Murphy most recently headed the investment giant's enterprise growth legal team.
4 minute read

Corporate Counsel

Financial Firms Hit With Another $470M in 'Off-Channel' Communications Fines

The 3-year-old crackdown now has yielded more than $3 billion in penalties, and regulators show no signs of letting up.
2 minute read

Law.com

United Community Bank Seeks $4.1M in Loan Repayments From Charlotte-Based Housing Developer

Despite notices to the defendants, the bank claims that as of July 23, Nest Homes has failed to make payments consisting of: $4 million in principal fees; $140,399.70 in accrued and unpaid interest; and $5,246.29 in late fees and other charges, and interest continues to accrue at $1,064.32 per day, the complaint said.
2 minute read

Daily Business Review

'A Good Day': Florida Bank Linked to Venezuela Is Hit With $800,000 Verdict

"Any day where you help prevent an illegal authoritarian regime in Venezuela from penetrating the United States banking system and hold those accountable for assisting that regime is a good day," Derek E. León, the plaintiffs' attorney, said.
5 minute read

New York Law Journal

UBS Sues Bank of America for $200 Million Over Indemnification Breach

The complaint, filed in Manhattan state court on Wednesday, alleges Countrywide Financial – which was purchased by Bank of America in 2008 – agreed to cover legal costs stemming from residential mortgage-backed securities that were backed by Countrywide's mortgage loans.
2 minute read

Law.com

Fox Rothschild Files Fraud Suit Against Digital Banking Platform Scammers Accused of Illegally Transferring $5.7M to Truist Bank Account

Several fraudulent transactions were executed from Le Vian's accounts to the fake beneficiaries with Truist bank accounts. Truist has returned nearly $400,000 in stolen funds, while just short of $1.6 million is still fraudulently held in the accounts, the complaint said.
3 minute read

Law.com

Sheppard Mullin Wins Injunction for Financial Services Firm in Dispute Over 'Raiding Exemption' Under Broker Recruiting Protocols

The judge concluded that the defendants acted with predation, pointing to recovered digital evidence on some of the defendants' computers that related to their newly-founded financial services firm.
5 minute read

The Legal Intelligencer

Schnader Harrison Can't Escape Suit Over Allegedly Misappropriated Comp, Judge Finds

Former income partner Jo Bennett's putative class action survived a motion to dismiss.
3 minute read

Corporate Counsel

FINRA Hires Senior JPMorgan Chase Attorney to Lead Beefed-Up Enforcement Team

Julie Glynn is boomeranging back to FINRA, where she spent seven years as an enforcement attorney before joining the banking giant in 2011.
3 minute read

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