Banking & Finance

Ninth Circuit Court of Appeals, Banking & Finance, Business Transactions, Litigation

Construction Laborers Pension Trust v. Funko — Risk disclosures can mislead when the warned-of harm already exists

automatic / September 2, 2026

Funko shareholders plausibly alleged fraud where risk disclosures treated existing inventory and technology failures as merely hypothetical future problems.

Ninth Circuit Court of Appeals, Banking & Finance, Business Transactions, Litigation

Verthelyi v. PennyMac — LIBOR Contracts May Use a Fixed Fallback Rate

automatic / August 19, 2026

The Ninth Circuit held that the federal LIBOR Act does not invalidate a contract fallback merely because it produces a fixed rather than floating rate.

Ninth Circuit Court of Appeals, Banking & Finance, Collections & Creditor Rights, Litigation

Turrey v. Vervent — Student Borrowers’ Civil RICO Verdict Was Timely

automatic / August 12, 2026

The Ninth Circuit affirmed the roughly $12 million judgment. Trial evidence permitted the jury to find that the borrowers lacked actual or constructive knowledge of their RICO injuries more than four years before filing in April 2020.

Ninth Circuit Court of Appeals, Banking & Finance, Labor & Employment Law, Litigation

Pover v. Capital Group — ERISA plan-wide claims cannot be stripped by arbitration waiver

automatic / July 30, 2026

The Ninth Circuit refused to enforce an arbitration provision that prevented a retirement-plan participant from seeking plan-wide ERISA relief.

Ninth Circuit Court of Appeals, Banking & Finance, Civil Procedure, Litigation

Relator LLC v. Erskine — Ninth Circuit Revives PPP Fraud Whistleblower Suit, Holds Mortgage Company’s Own Website Is Not “News Media” Under False Claims Act

automatic / July 15, 2026

The Ninth Circuit reversed dismissal of a False Claims Act qui tam suit alleging PPP fraud by a California mortgage company, holding that a NAICS industry code alone does not publicly disclose fraud and that a company's own website does not qualify as 'news media' for purposes of the Act's public disclosure bar.

Ninth Circuit Court of Appeals, Administrative Law, Banking & Finance, Constitutional Law

Novedades y Servicios v. FinCEN — Ninth Circuit Upholds Block on Treasury’s Sweeping Southwest Border Cash-Reporting Order

automatic / July 13, 2026

The Ninth Circuit affirms a preliminary injunction blocking FinCEN’s “Border GTO” — which required money services businesses in 30 southwest border ZIP codes to file cash-transaction reports for amounts as low as $200 — finding the order was likely a rule requiring notice-and-comment rulemaking and that it was adopted in an arbitrary and capricious manner.

1st District Court of Appeal, Banking & Finance, Litigation

Y.P. v. Wells Fargo — Bank Employee’s Assurance That Fraudulent Check Had Cleared States Negligent Misrepresentation Claim

automatic / April 9, 2026

First District holds that a Wells Fargo employee's assurance that a fraudulent check had cleared states a cause of action for negligent misrepresentation, while affirming dismissal of breach of contract and other claims based on the deposit account agreement's express disclaimers.