Colorblind?: Investors Allege Tricolor’s Lenders and Underwriters Ignored Persistent Red Flags
Tricolor Holdings, a subprime auto dealer‑financier, collapsed after a federal indictment revealed a multi‑year scheme that double‑pledged and fabricated loan collateral, securing roughly $800 million in extra financing and selling over $2 billion of asset‑backed securities. Investors now allege that the banks providing warehouse lines and the underwriters of the securitizations ignored audit warnings and knowingly sold securities backed by falsified assets. The civil complaint seeks rescission of the notes, damages, and attorneys’ fees, accusing lenders and underwriters of fraud and constructive fraudulent transfers. The case highlights systemic failures in due‑diligence and disclosure within auto‑loan securitizations.
“Sealed According to Law”: The First Loan Closings in Antiquity – Part II
The article examines the earliest known loan closures, focusing on cuneiform clay tablets from Mesopotamia and comparable Egyptian practices. It details how duplicate clay tablets sealed with cylinder‑seal impressions protected agreements, and outlines the typical contents of ancient loans, including...
Court of International Trade Enforces Supreme Court Decision, Orders Removal of IEEPA Tariffs on U.S. Imports
A U.S. Court of International Trade judge ordered Customs and Border Protection to liquidate and refund IEEPA tariffs deemed unauthorized by the Supreme Court. The order applies to more than 330,000 importers covering over 53 million entries, effectively mandating refunds without...
U.S. Supreme Court Hears Arguments in Pung V. Isabella County
The U.S. Supreme Court heard oral arguments in Pung v. Isabella County, a case that could reshape how just compensation is measured in tax‑foreclosure takings. Building on the Tyler decision, the Court is evaluating whether the auction sale price can...
New York Trusts and Estates Legislative Developments of Which to Be Aware in 2026 and Beyond
New York’s 2025 legislative package introduces two transformative measures for trusts and estates. The Electronic Wills Act, effective 2027, permits fully electronic wills that must be signed by the testator (or authorized signatory) in the presence of two domiciliary witnesses...
Wage Protection System Coming Into Effect in Bahrain
Bahrain is launching a Wage Protection System (WPS) that obliges all employers to disburse salaries via licensed banks or Central Bank‑regulated payment providers, creating an electronic audit trail of wage payments. The reform replaces fragmented payment methods with a unified,...
New GSA Guidance on Protecting CUI in Contractor Systems, Plus a Look Ahead at Pending FAR Changes
The General Services Administration issued a five‑phase procedural guide to protect Controlled Unclassified Information (CUI) in contractor‑owned systems, outlining concrete deliverables from preparation through continuous monitoring. A parallel FAR Council proposal would embed a standardized CUI clause, a new form,...
How Many Matches Does It Take to Start a Fire?
The article uses Carl Sagan’s match‑room metaphor to illustrate how litigants can ignite mutually destructive outcomes by focusing solely on legal victories. It argues that mediators must remind parties they are in a “room full of gasoline,” where a single...
FAQs on Timing of Initial Section 16(a) Reporting for Directors and Officers of Foreign Private Issuers
The SEC’s Division of Corporation Finance released FAQs on March 9, 2026 clarifying initial Section 16(a) reporting for directors and officers of foreign private issuers (FPIs) under the Holding Foreign Insiders Accountable Act, which became effective March 18, 2026. The guidance outlines when Form 3 must...
SEC Investor Advisory Committee to Consider Recommendation on Tokenization of Equity Securities
On March 5, 2026 the SEC Investor Advisory Committee’s Market Structure Subcommittee issued a recommendation on tokenizing equity securities, slated for a vote on March 12. The committee defines tokenized equities as blockchain‑recorded assets that still fall under federal securities law, and it...
Washington State Bill Would Prohibit Companies From Microchipping Employees
Washington’s legislature passed Senate Bill 2303, which would bar employers from requiring employees to receive implanted microchips as a condition of employment. The bill includes narrow exemptions for voluntary medical implants, non‑invasive monitoring devices, and employees who choose to be...
The Pensions Brief: March 2026
Trustees must implement a data‑protection complaints process by 19 June 2026 under the Data (Use and Access) Act 2025, with ICO guidance covering design, default and subject‑access requests. The Pension Dashboards Programme issued FAQs clarifying reporting standards and PASA released Q&A on...
Understanding South Korea’s New AI Law: Key Considerations for Multinational Employers
South Korea's AI Basic Act became effective on January 22, 2026, imposing governance, transparency, and risk‑management duties on AI business operators, including employers that develop or deploy AI influencing workplace decisions. The law reaches beyond Korean borders, requiring entities that meet revenue,...
Illinois Appellate Court Narrows Third-Party BIPA Liability
The Illinois Appellate Court ruled that staffing agencies are not liable under BIPA Section 15(b) because they did not acquire or possess biometric data, only facilitated its collection. The court affirmed summary judgment for the agencies and denied discovery, emphasizing...
Mandatory Retirement Program for NY Employers Deadlines Begin in March 2026
Effective March 2026, New York’s Secure Choice Savings Program obligates private‑sector employers with ten or more New York employees and at least two years in business to either register for the state‑administered Roth IRA or certify an exemption. Registration requires using a unique...
Benefits Monthly Minute - February 2026
The Department of Labor settled with Kaiser Foundation Health Plan for $28.3 million plus a $2.8 million penalty, mandating reforms to its mental‑health provider network. The Fifth Circuit, in Parrott v. International Bancshares, applied the effective vindication doctrine to strike down arbitration...
Managing Legal Risk in the Age of Artificial Intelligence: What Key Stakeholders Need to Know Today
In 2026 enterprises are scaling AI from pilots to company‑wide deployments, prompting a surge in legal exposure across governance, compliance, privacy, contracting and IP. Boards face heightened fiduciary duties under the Caremark standard, yet only 36% have formal AI oversight...