Banking

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Lewis Brisbois C-Suite Shakeup Continues With Fresh Departures

Two executives will leave Lewis Brisbois Bisgaard & Smith in the coming months as the law firm’s leader continues to overhaul its business operations.

By Justin Henry

IRS Loses Bid for $1 Million FBAR Penalty for Lack of Jury Trial

The government can’t claim a $1 million penalty from a woman who allegedly didn’t report foreign accounts without providing her an opportunity for a trial, a federal judge in Texas ruled Friday.

Fed’s Miran Says He Didn’t Promise Trump a Dissent on Rates

Federal Reserve Governor Stephen Miran said he hasn’t spoken to President Donald Trump since the central bank’s policy meeting this week, and didn’t promise the president he would vote a particular way on interest rates.

Private Credit Facing ‘Clear Signs’ of Rising Stress, BofA Says

Signs of elevated stress are emerging within the $1.7 trillion private credit market as default rates are rising and more borrowers are choosing to defer cash interest payments, according to a Bank of America Corp. report.

Students Among Investors Hit by Fraudulent Scheme, SEC Says

At least 15 people, including college students, were induced to invest more than $400,000 through a fraudulent scheme run by Pathyam Patel and his purported company, Infinity Wealth Management LLC, the SEC said.

Trump Administration Must Disclose Federal Layoff Records

The Trump administration must disclose records on federal workforce cuts for judicial review, an appeals court ruled.

‘Hedge America’ Threatens $1 Trillion Drag on the Sinking Dollar

It turns out that all the “Sell America” angst swirling in markets earlier this year was misplaced.

SEC Will Move to Overhaul Investor Disclosures, Atkins Says

The Securities and Exchange Commission will move forward with plans to overhaul investor disclosure rules for publicly-traded companies, agency Chairman Paul Atkins said Friday.

Tricolor Trustee Targets 100,000 Auto Loans Stuck in Limbo

The trustee overseeing bankrupt Tricolor Holdings is seeking control of roughly 100,000 subprime auto loans originated by the lender, looking to hold them under court supervision while determining how to distribute proceeds to creditors.

Robinhood, Blackstone CEOs to Speak at Fed on Community Banking

The US Federal Reserve will meet next month with Blackstone Inc. Chief Executive Officer Stephen Schwarzman, Robinhood Markets Inc. CEO Vlad Tenev and Treasury Secretary Scott Bessent to discuss challenges affecting community banks, among other themes.