The regulatory authority of the U.S. Securities and Exchange Commission (“SEC”) over the cryptocurrency industry has recently been challenged on a couple of fronts. One involves a lawsuit filed by the SEC against a Utah-based...more
Cryptocurrency companies face a steadily growing number of lawsuits, adding to a list of recent headaches for their industry. That list includes steep recent declines in investment value and a high probability of new...more
8/12/2022
/ Class Action ,
Class Certification ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Financial Markets ,
Financial Services Industry ,
Financial Transactions ,
Fraud ,
Investment Products ,
Popular ,
Regulatory Standards ,
Securities Act ,
Securities Violations ,
Token Sales ,
Unregistered Securities ,
Virtual Currency
Cryptocurrency continues to gain traction as a means of payment for goods and services. It recently made its debut appearance in the mortgage industry, as the concept of a “crypto-mortgage” came to life. A Miami-based...more
2/9/2022
/ Bitcoin ,
Consumer Financial Products ,
Cryptocurrency ,
Digital Currency ,
Financial Services Industry ,
Loans ,
Mortgage Loan Originators ,
Mortgages ,
Popular ,
Real Estate Investments ,
Real Estate Market ,
Real Estate Transactions
Even enthusiastic participants in the booming cryptocurrency sector have at times described it as having a distinctly “Wild West” feel at this relatively early stage of its development. Lately, though, there has been no...more
12/16/2021
/ Bitcoin ,
Cryptoassets ,
Cryptocurrency ,
FDIC ,
Federal Reserve ,
Financial Services Industry ,
Financial Transactions ,
Investment Opportunities ,
OCC ,
Popular ,
Stablecoins ,
Virtual Currency
As the real-life consequences of climate change accelerate and become more pronounced, so does the need for businesses and government entities to consider various practical effects. Corporations are facing significant...more
2/12/2021
/ Article III ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Due Process ,
Environmental Social & Governance (ESG) ,
Fifth Amendment ,
Fossil Fuel ,
Loss of Liberty ,
Popular ,
Publicly-Traded Companies ,
Standing ,
Sustainability
Businesses that receive forgivable loans through the Paycheck Protection Program (PPP) would get additional time and greater flexibility to make use of those funds under proposed legislation approved last week by the U.S....more
Last week, on the heels of a significant decline in Bitcoin prices, Forbes reported that China’s Central Bank is set to launch the world’s first state-backed cryptocurrency. The cryptocurrency will be made available initially...more
9/9/2019
/ Alibaba ,
Bitcoin ,
China ,
Cryptocurrency ,
Cyber Attacks ,
Digital Currency ,
Digital Wallets ,
Financial Institutions ,
Financial Transactions ,
Motion to Dismiss ,
Mt.Gox ,
Personal Jurisdiction ,
Popular ,
Putative Class Actions
Thousands of mortgage lenders across the country either recently received, or will soon be receiving, this document from Lehman Brothers Holdings, Inc. (LBHI). It is a notice of a motion to approve a proposed settlement of...more
5/24/2017
/ Banking Sector ,
Commercial Bankruptcy ,
Fannie Mae ,
Freddie Mac ,
Indemnification ,
Lehman Brothers ,
Mortgage Lenders ,
Mortgages ,
Popular ,
Repurchases ,
RMBS ,
Settlement Offer
The Consumer Financial Protection Bureau (CFPB) will likely be weakened by the incoming Trump administration and its Republican allies in Congress. Exactly how, and how much, remains to be seen, however—and, in the meantime,...more
12/5/2016
/ Banking Sector ,
Bonuses ,
Consumer Lenders ,
Cross-Selling ,
Financial Institutions ,
Financial Regulatory Reform ,
Fraud ,
Incentive Compensation ,
Mortgage Lenders ,
Mortgages ,
Online Marketplace Lending ,
Payday Loans ,
Popular ,
Regulatory Oversight ,
Trump Administration ,
Wells Fargo
In the aftermath of major data breaches at deep-pocketed retailers and other businesses, there is typically no shortage of litigants who move quickly to seek compensation from the business at which the breach occurred. But...more
7/12/2016
/ Article III ,
Corporate Counsel ,
Credit Cards ,
Credit Unions ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
FTC Act ,
Hackers ,
Home Depot ,
Interlocutory Appeals ,
Negligence ,
Personally Identifiable Information ,
Popular ,
Section 5 ,
Standing ,
Unfair or Deceptive Trade Practices
President Obama is poised to sign the Defend Trade Secrets Act 2016 (“DTSA” or the “Act”), legislation that would fundamentally overhaul the decades-long tradition of state control of trade secrets lawsuits. DTSA, which...more
Virtually ever since its inception on July 21, 2011, the Consumer Financial Protection Bureau (CFPB) has inspired wariness and skepticism in the financial institutions and financial services providers, subject to this new...more
5/6/2016
/ Administrative Law Judge (ALJ) ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
Jurisdiction ,
Kickbacks ,
Mortgage Insurance ,
Mortgage Servicers ,
Mortgages ,
Popular ,
Recess Appointments ,
Reinsurance ,
RESPA
Calling the settlement a reproach for “years of reckless underwriting” at Wells Fargo, U.S. Attorney Preet Bharara in Manhattan announced on April 8th that Wells Fargo & Co. formally reached a record $1.2 billion settlement...more
As data breaches and their related obligations and liability risks continue to pile up with every passing year, we asked attorneys writing on JD Supra to answer the question: What will be among the defining issues for...more
Cybersecurity has been a focus as part of bank exams for years. Now the Federal Deposit Insurance Corp. (FDIC) is increasing its scrutiny of banks’ cybersecurity practices to ensure that the issue is getting appropriate...more
In recent years, there has been no shortage of news about large-scale data privacy breaches; incidents that have affected tens of millions of consumers nationwide. Those incidents have spurred a growing market for so-called...more
In the span of two days, mobile device users learned of two data breaches that could compromise their personal data. In one, Experian (a credit reporting agency) reported that it was hacked, potentially putting 15 million...more
10/19/2015
/ Android ,
AT&T ,
Banking Sector ,
Banks ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Entities ,
Credit Reporting Agencies ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Department of Health and Human Services (HHS) ,
Derivative Suit ,
Enforcement Actions ,
EU ,
Experian ,
FBI ,
FCC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
FTC v Wyndham ,
Google ,
Hackers ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
Mobile Device Management ,
Mobile Devices ,
Personal Data ,
Personally Identifiable Information ,
Popular ,
Privacy Concerns ,
Privacy Laws ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Shareholder Litigation ,
T-Mobile ,
Telecommunications ,
Verizon ,
Wyndham
Join us for an in-depth webinar presented by litigation attorneys James Ward and Phil Stein on the trending topic of information security and how to protect your company from a data breach. This webinar will address what you...more
Attorneys for certain banks and other financial institutions that are caught up in Target’s 2013 data breach are objecting to the $67 million deal struck last week between the retailer and Visa Inc. The banks and credit...more
9/28/2015
/ Banking Sector ,
Banks ,
Class Action ,
Class Certification ,
Credit Unions ,
Cyber Attacks ,
Cyber Crimes ,
Data Breach ,
Debit and Credit Card Transactions ,
Financial Institutions ,
Fraudulent Charges ,
Hackers ,
MasterCard ,
Personally Identifiable Information ,
Popular ,
Target ,
Visa Inc
The Ashley Madison saga has captured the attention of the public and legal profession like few prior data security breaches. The reasons are obvious: A website devoted to promoting infidelity is called out for “fraud, deceit,...more
9/4/2015
/ Adultery ,
Ashley Madison ,
Class Action ,
Class Certification ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Hackers ,
Marriage ,
Mass Tort Litigation ,
Personally Identifiable Information ,
Popular ,
Reasonable Expectation of Privacy ,
Spouses ,
Target ,
Website Owner Liability ,
Websites
Matt Taibbi of Rolling Stone recently profiled the woman JPMorgan Chase paid one of the largest fines in American history to keep from talking in his article, The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare....more
Are homebuilders as vigilant as they should be in protecting their intellectual property rights — including the copyrights that qualifying architectural drawings and structures receive automatically as a matter of law, even...more
The U.S. Supreme Court will hear two cases brought by Bank of America regarding whether a second mortgage on an underwater property can be voided during Chapter 7 bankruptcy. Both cases involve Florida homeowners who sued to...more
“Robo-signing,” the term coined to refer to bank officials who quickly approved mortgage foreclosure documents without actual knowledge of the validity of the grounds for foreclosure, has been spurring lawsuits and making...more