The Ninth Circuit recently reversed a California District Court’s finding of personal jurisdiction against a foreign bank, and found it did not waive appeal on that issue by asserting defenses....more
Applying Delaware law, a South Carolina District Court found Plaintiff had properly pled its causes of action for breach of contract, breach of fiduciary duty, negligence/gross negligence and negligent misrepresentation...more
10/25/2017
/ Banking Sector ,
Breach of Contract ,
Breach of Duty ,
Duty of Care ,
Fiduciary Duty ,
Fronting Policies ,
Good Faith ,
Gross Negligence ,
Insurance Industry ,
Insurance Litigation ,
Motion to Dismiss ,
Negligence ,
Negligent Misrepresentation ,
Trust Accounting ,
US Bank National Association
A Pennsylvania federal court applied the continuing violations theory to RESPA’s one-year statute of limitations, and allowed Plaintiffs leave to amend their complaint to modify their RESPA claim....more
Plaintiff electronically signed a contract which contained: (1) terms governing the loan; (2) an agreement to submit disputes to arbitration; and (3) a choice of law provision which required the application of Otoe-Missouria...more
5/31/2017
/ Arbitration ,
Arbitration Agreements ,
Banking Sector ,
Consumer Financial Products ,
Consumer Lenders ,
Contract Terms ,
Forum Selection ,
Internet Lenders ,
Native American Issues ,
Online Marketplace Lending ,
Payday Loans ,
Tribal Loans
We previously reported on the New York Department of Financial Services’ proposed cybersecurity regulations. During the public comment period, the DFS received over 150 comments. In response, the DFS announced on December 28,...more
2/27/2017
/ Banking Sector ,
Chief Information Security Officer (CISO) ,
Confidential Information ,
Cybersecurity ,
Cybersecurity Framework ,
Data Protection ,
Disclosure Requirements ,
Financial Institutions ,
Financial Services Industry ,
Information Technology ,
Insurance Industry ,
Notice Requirements ,
NYDFS ,
Personally Identifiable Information ,
Risk Assessment ,
Risk Management ,
Third-Party Service Provider
The Second Circuit has affirmed a decision finding email insufficient for service, absent consent to such method. In the underlying district court, the Petitioner emailed a copy of his petition to one of Respondent, Deutsche...more
We previously reported on the New York Department of Financial Services’ proposed cybersecurity regulations. During the public comment period, the DFS received over 150 comments. In response, the DFS announced on December 28,...more
1/17/2017
/ Banking Sector ,
Chief Information Security Officer (CISO) ,
Comment Period ,
Confidential Information ,
Cybersecurity ,
Cybersecurity Framework ,
Data Protection ,
Disclosure Requirements ,
Encryption ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
Notice Requirements ,
NYDFS ,
Personally Identifiable Information ,
Popular ,
Risk Assessment ,
Risk Management ,
Third-Party Service Provider
Recently, New York’s Department of Financial Services released its long-awaited proposed cybersecurity regulation, which promises to deliver sweeping protections to consumers and financial institutions alike. The proposed...more
10/27/2016
/ Banking Sector ,
Chief Information Security Officer (CISO) ,
Cybersecurity ,
Data Protection ,
Encryption ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
NYDFS ,
Popular ,
Proposed Regulation ,
Risk Management ,
Third-Party Risk
Last week, New York’s Department of Financial Services released its long-awaited proposed cybersecurity regulation, which promises to deliver sweeping protections to consumers and financial institutions alike. The proposed...more
10/10/2016
/ Banking Sector ,
Banks ,
Certification Requirements ,
Chief Information Security Officer (CISO) ,
Cybersecurity ,
Cybersecurity Framework ,
Data Protection ,
Encryption ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
Mobile Apps ,
NYDFS ,
Popular ,
Reporting Requirements ,
Risk Management
Last week, New York’s Department of Financial Services released its long-awaited proposed cybersecurity regulation, which promises to deliver sweeping protections to consumers and financial institutions alike. The proposed...more
9/20/2016
/ Banking Sector ,
Chief Information Security Officer (CISO) ,
Cybersecurity ,
Data Protection ,
Encryption ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
NYDFS ,
Popular ,
Proposed Regulation ,
Risk Management