Read Business Torts updates, news, and legal commentary from leading lawyers and law firms:
Unique Privacy Concerns for Mobile Apps
Common Employment Law Mistakes for Small, Start-Up and Growing Companies
Supreme Court Raises the Bar for Class Certification in Comcast Corp. v. Behrend
Safeguards against Data Security Breaches (Part One)
Weekly Brief: 78% of Law Schools Ignore ABA Rule
Weekly Brief: DOJ Memo Details Justification For Killing US Citizens
Can Feds Force Companies to Disclose Political Spending?
Three Key Data Retention Questions
Newtown Shootings Could Give Rise to More Litigation, Says Pinsky
What to Expect from the Supreme Court During Obama’s Second Term
The Weekly Brief: Abu Hamza On Trial, Wells Fargo Sued, Bingham Cuts Costs
Barofsky: Govt. Complicity Provides Libor Defense
Breaking Down the NFL Concussion Class Action and the Players’ “Warrior Mentality”—Eliot Wagonheim
Whalen: Go Back To The Future To Fight Fraud With Equity Receivers
Lawyer: 20 More Law School Class Actions Coming
Defendants allegedly adopted a uniform practice designed to maximize fees assessed on delinquent borrowers’ accounts.
As part of the scheme, Defendants “formed an enterprise with their respective subsidiaries, affiliates,...more
SIX FORMER BOA EMPLOYEES TESTIFY THAT BOA MODIFICATION AND FORECLOSURE SPECIALISTS WERE PAID AND INSTRUCTED TO LIE TO HOMEOWNERS, PAID WITH GIFT CARDS IF THEY SUCCESSFULLY THREW THE HOMEOWNER INTO FORECLOSURE AND WERE...more
Attached is an affidavit of a senior loan collector for BOA that was filed in United States District Court for the District of Massachusetts under case number MDL 2193.
Simone Gordan stated the following under oath:
This SEC decision is one that deserves several readings. The SEC have drilled down far enough to discover that the banks made settlements on buy-backs, kept the money...more
As reported yesterday in the New York Law Journal, Justice Marcy Friedman of the Commercial Division in Manhattan will now be assigned any new case filed in New York Supreme Court that alleges fraud or misrepresentation...more
On May 24, several banks and asset management companies sued U.S. Bank in a Missouri state court over U.S. Bank’s alleged mismanagement of 28 RMBS trusts. Plaintiffs allege that U.S. Bank disregarded its duties as trustee by,...more
On May 28, the FHFA, acting on behalf of Fannie Mae and Freddie Mac, dismissed its lawsuit against Citigroup Inc. and certain of its affiliates and employees after reaching a settlement with defendants. The lawsuit related to...more
On May 17, 2013, the Consumer Financial Protection Bureau (“CFPB”) issued a consent order to Paul Taylor Homes Limited, Paul Taylor Corp. and Paul Taylor individually (altogether “Taylor”) based on the CFPB’s findings that...more
In Chanda v. Federal Home Loans Corp. (2013) 215 Cal.App.4th 746, the court analyzed application of the so-called “collateral source” rule to preclude evidence of title insurance, in the context of a claim by a lender against...more
Attorney General Eric T. Schneiderman filed a lawsuit against HSBC Bank USA and HSBC Mortgage Corporation (USA) for failing to follow state law related to foreclosure actions, putting homeowners at greater risk of losing...more
This issue of the Credit Crunch Digest focuses on recent developments in alleged Libor rate manipulation litigation; settlements in two mortgage-backed securities lawsuits; potential actions by state attorney generals...more
In this issue:
- SEC Approves FINRA Rule Change That Requires Reporting OTC Equity Transactions Within 10 Seconds
- NFA Issues Notice to Members Regarding Section 16 Financial Requirements for Cleared Swaps...more
Sellers of existing residential property are required by California law to make various disclosures to a prospective buyer. [See generally Disclosures In Real Property Transactions, published by the California Department of...more
In a previous blog, we reported on a case, Harvey v. Elgin Condominium Corporation No. 3, where an unhappy unit owner sued the Corporation for various alleged infractions relating to the replacement of existing wooden decks,...more
There has been a lot of news lately on the costs of CEQA litigation, as well as the potential for the statute to be used as a tool to stop development, good or bad, or exact concessions or pay-offs.
What is CEQA?
In This Issue: FHFA Limit on Fannie and Freddie Loan Purchases to Qualified Mortgage; Rating Agency Developments; MBIA and Bank of America Settle MBS Litigation for $1.7 Billion: Assured and UBS Agree to Settle RMBS...more
In its recent decision in State Farm Fire & Cas. Co. v. Anderson, 2013 U.S. Dist. LEXIS 57837 (S.D. Miss. Apr. 23, 2013), the United States District Court for the Southern District of Mississippi had occasion to consider...more
The Seventh Circuit recently ruled that under the False Claims Act (“FCA”) treble damages should be calculated by the net amount of loss suffered by the government (after appropriate setoffs or credits are deducted) rather...more
Bank of America has agreed to settle a class-action lawsuit brought by investors who claimed they were misled by its Countrywide unit into buying risky mortgage securities. Bank of America acquired Countrywide Financial, a...more
On April 5, New York Supreme Court Justice Shirley Werner Kornreich dismissed with prejudice a suit brought by six Loreley Financing entities against various UBS entities. Loreley alleged fraud stemming from UBS’s issuance of...more
On April 9, Judge Susan Wigenton of the U.S. District Court for the District of New Jersey denied Goldman Sachs’s motion to dismiss Prudential’s complaint alleging fraud in connection with the sale of $375 million in RMBS. ...more
On April 9, the U.S. District Court for the Central District of California dismissed claims brought by the FDIC as receiver for a failed bank against a financial institution related to 10 MBS certificates sold to the bank,...more
As widely reported recently, close to 1.2 million borrowers (about 30% of the more than 3.9 million households that faced foreclosure proceedings by the 11 leading financial institutions in 2009 and 2010), had to battle...more
On April 5, the United States Court of Appeals for the Second Circuit affirmed the decision of the district court denying UBS’s motion to dismiss the complaint brought by the FHFA. FHFA sued UBS as conservator of Fannie Mae...more
On April 8, U.S. District Judge Mariana R. Pfaelzer of the Central District of California dismissed the FDIC’s suit against Countrywide. FDIC, as the receiver for Colonial Bank, filed suit against Countrywide and Bank of...more
JD Supra gets your content noticed, increases your visibility and makes your marketing efforts hassle free...
Learn More or Schedule a demo