In the face of turmoil and uncertainty, the world's major financial institutions continue to choose our team to help them manage their business, litigation and reputational risks and thrive in the new economic and regulatory climate. To our clients we are much more than litigators - we are business partners who have a stake in their success.
Awards & Recognition
Paul, Weiss Recognized as 2022 “Banking Group of the Year” By Law360
Paul, Weiss was named a Law360 “Banking Group of the Year” for its many achievements in the banking industry in 2022.
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Brad Karp and Roberto Gonzalez Publish Op-Ed in American Banker on CFPB’s Late-Fee Proposal
Firm Chairman Brad Karp and litigation partner Roberto Gonzalez co-wrote an op-ed arguing that the Consumer Financial Protection Bureau’s proposed rule to dramatically decrease the amounts that credit card issuers charge for late fees on credit card payments would actually increase overall costs for the large majority of credit card customers.
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Susanna Buergel Named a 2022 Law360 MVP in Banking
Litigation partner Susanna Buergel was recognized as a Law360 2022 MVP in the Banking category.
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Paul, Weiss Submits Comment Letter on CFPB’s Credit Card Late Fee Rulemaking
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Paul, Weiss submitted a comment letter to the Consumer Financial Protection Bureau (CFPB) on the agency’s proposed rule on credit card late fees.
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Jessica Carey to Discuss Financial Institutions Enforcement at Cambridge Forums Event
Litigation partner Jessica Carey will participate in the Forum on Financial Institutions Enforcement, hosted by Cambridge Forums.
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JPMorgan Wins Dismissal of Financial Spoofing Lawsuit
Paul, Weiss and co-defendants’ counsel won the dismissal of a shareholder derivative lawsuit against JPMorgan Chase, certain executive officers and its board of directors stemming from the bank’s 2020 resolutions with various regulators over various financial “spoofing” trading violations.
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Brad Karp and Susanna Buergel Discuss the Latest in Litigation at SIFMA Seminar
Firm Chairman Brad Karp and litigation partner Susanna Buergel discussed the latest in securities litigation, antitrust and other civil litigation issues as part of the Securities Industry and Financial Markets Association’s (SIFMA) C&L Annual Seminar.
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Paul, Weiss Wins Dismissal of Class Action Against Morgan Stanley Alleging Scheme to Reduce Competition in Treasury Securities Market
Paul, Weiss achieved a significant victory for Morgan Stanley by securing the dismissal of all claims in an antitrust class action.
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SEC Enforcement: 2022 Year in Review
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In a busy 2022, significant SEC rulemaking and enforcement developments included a record $4.2 billion in penalties, multiple policy shifts and an emphasis on cryptocurrency, ESG, cybersecurity and “off-channel” communications, among other areas. We highlight important takeaways for businesses from the Enforcement Division’s activities in 2022 and their implications for the Division’s priorities going forward.
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CFPB Proposes Rule Requiring Nonbank Consumer Financial Services Providers to Submit Enforcement Orders to Public Registry
The Consumer Financial Protection Bureau recently issued a rulemaking proposal that would require certain nonbank providers of consumer financial services to register specified enforcement orders with the bureau that would be then included in a public registry.
Firm News
Two Accomplished Litigators Join Paul, Weiss in New York
Robert Y. Sperling and Staci Yablon have joined the firm as partners in the Litigation Department, resident in New York.
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Second Circuit Review: Federal Preemption Of State Banking Laws
Litigation of counsel Martin Flumenbaum and firm Chairman Brad Karp’s latest Second Circuit Review column, “Federal Preemption Of State Banking Laws,” appeared in the issue of the New York Law Journal.
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Citibank Secures Dismissal in Florida False Claims Act Case
Paul, Weiss achieved a significant victory for Citibank, N.A., securing the dismissal of a qui tam action brought in Florida state court under the Florida False Claims Act (FFCA).
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Morgan Stanley Wins Dismissal in Antitrust Class Action Suit Involving “Odd-Lot” Bonds
Paul, Weiss, as part of a joint defense group, secured the dismissal of a putative antitrust class action complaint against our client Morgan Stanley and nine other financial institutions.
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Credit Suisse Publishes Independent Review of Archegos Losses
As reported by the Financial Times, The Wall Street Journal and many other media outlets, Credit Suisse published a 165-page independent investigative report by Paul, Weiss addressing the bank’s relationship with Archegos Capital Management, the family office of Sung Kook “Bill” Hwang, a former hedge fund manager.
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