The Situation: Plaintiffs in an underlying trademark action sought contempt-sanctions for violations of asset restraining orders against six nonparty Chinese banks that held assets of judgment debtors (hundreds of alleged counterfeiters) at Chinese branches.

The Result: In Next Investments LLC v. Bank Of China, the Second Circuit denied sanctions against the Chinese banks, finding that there was “fair ground of doubt” as to whether the mere provision of routine account services at foreign branches to non-compliant […]

The FDIC launched a new Mission-Driven Bank Fund that will support insured Minority Depository Institutions (“MDIs”) and Community Development Financial Institutions (“CDFIs”) by directing private capital investment into them to, in turn, allow them to further benefit the minority, lower income and rural communities they serve.

The FDIC stated that the aim of the fund is to enable MDIs and CDFIs to “build size, scale, and capacity” so that they can offer affordable financial products, encourage economic and community […]