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Mixed Ruling in Suit Challenging Operation Choke Point

Why it matters - A D.C. federal court judge issued a mixed ruling in a suit brought on behalf of payday lenders against the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board of Governors, and the...more

Business Court Enjoins Enforcement Of High Interest Rate Loans Made By American Indian-Related Business

Judge Gale's opinion last week in Western Sky in State v. Western Sky Financial, LLC, 2015 NCBC 84 has a little bit of everything in it: choice of law, the U.S. Constitution, claims for usury (excessive interest rates) and...more

The Viability of the Equitable Mootness Doctrine in the Third Circuit: A Moot Point?

In the bankruptcy context, effectively appealing an order confirming a debtor’s plan of reorganization is not always a sure bet, as a court may refuse to entertain the appeal in the name of equitable mootness. Equitable...more

Nevada Amends Law Regarding Deficiency Judgment Calculation

By amending a statute that limits deficiency judgment amounts in certain cases, Nevada lawmakers have attempted to restore balance as the law applies to commercial properties. The amendments follow a recent wave of litigation...more

Third Circuit Rules That Actual Harm Needed for Monetary Equitable Remedy

The Third Circuit recently held that a plaintiff was not entitled to a monetary, equitable remedy under ERISA § 502(a)(3) where he failed to prove actual harm. Perelman v. Perelman, Nos. 14–1663, 14–2742, 2015 WL 4174537 (3d...more

CFPB seeks to hire administrative law judge

The CFPB recently posted a job opening for an administrative law judge (ALJ). According to the government jobs website, the position is closed which suggests that it has been filled. A recent Politico article indicated that...more

The Future Of ERISA Litigation — Sleeper Supreme Court Case is Worth Watching Carefully

ERISA sets forth complex reporting, disclosure, vesting and funding rules for most private sector employee benefit plans. It also provides a private claim upon which relief may be granted in federal court for violations of...more

Challenge to Trustee’s Standing to Foreclose Dismissed as Moot after Loan Modification

In Matt v. HSBC Bank USA, N.A., the U.S. Court of Appeals for the First Circuit dismissed as moot a borrower’s claims that HSBC as Trustee for the investor lacked authority to act under the terms of the mortgage....more

SDNY Judge Deals Rejects Constitutional Challenge to SEC’s Use of Administrative Proceedings

A former executive of Standard & Poor’s (S&P) Rating Services has lost an early constitutional challenge to the SEC’s use of administrative proceedings....more

D.C. Federal District Court Dismisses Lawsuit Seeking to Block $13 Billion DOJ Settlement

On March 18, the U.S. District Court for the District of Columbia dismissed a lawsuit brought by a non-profit organization challenging the $13 billion global settlement agreement entered by the U.S. Department of Justice...more

Finding the Earliest and Least Expensive Exit From Financial Services Class Actions

Effectively responding to class litigation doesn’t necessarily mean simply preparing an answer or perfunctory motion to dismiss, diving headlong into class discovery, investing in full-fledged combat on the merits of the...more

Debtor-trustees can run but they can’t hide behind the Fifth Amendment

Judgment debtors often try to use the Fifth Amendment’s privilege against self-incrimination to avoid post-judgment discovery of their assets and income. However, the U.S. District Court for the Eastern District of Missouri...more

What Do You Do When The Bank Wants Your Condemnation Award?

Property owners typically have a lot on their minds when they find out that the government is going to be taking their property. For residential owners, they need to worry about where they are going to live with their...more

Court Sets Aside SEC’s First Muni “Control-Person” Settlement

Earlier this month, the SEC used a “control-person” charge in a settled action against an elected municipal official in connection with municipal bond offering. Enforcement touted that “first” on the Monday after: “An...more

Construction Law Alert: Appellate Court Rules General Contractors Can Contractually Subordinate Mechanics Lien Rights

In Moorefield Construction, Inc. v. Intervest-Mortgage Investment Co., 230 Cal. App. 4th 146 (4th Dist. 2014), a California appellate court upheld an agreement executed by a general contractor which subordinated its...more

Blog: HOA Liens Reign Supreme Under Nevada’s Interpretation of the Uniform Common Interest Ownership Act

Nevada is one of many states that adopted some iteration of the Uniform Common Interest Ownership Act, an act designed in part to aid homeowners’ associations (“HOAs”) in recovering delinquent fees from their members. As...more

CFPB’s constitutionality again before D.C. Circuit in Morgan Drexen appeal

The CFPB’s constitutionality is again before the D.C. Circuit, with the D.C Circuit now being asked to consider the impact of the U.S. Supreme Court’s decision in NLRB v. Canning on actions taken by the CFPB while Director...more

U.S. Supreme Court Invites Solicitor General’s Views On Whether Certiorari Should Be Granted In Case Involving Standing To Recover...

Yesterday, the U.S. Supreme Court invited the Solicitor General to file a brief to express the Obama administration’s views on whether certiorari should be granted in a consumer case involving an important issue of statutory...more

Permanent Injunction of Pennsylvania’s Prohibition against Establishment of Political Committees to Receive Contributions of...

On August 13, 2014, an order was issued by the U.S. District Court for the Middle District of Pennsylvania in the matter of General Majority PAC v. Carol Aichele permanently enjoining implementation and enforcement of...more

$15M Judgment Reversed Due to Flawed Statistical Sampling Approach to Class Action

In a significant victory for California employers, the California Supreme Court threw out a $15 million judgment in favor of allegedly misclassified employees. In Duran v. U.S. Bank National Association, a putative class of...more

Ninth Circuit rejects Morgan Drexen’s attempt to enjoin CFPB’s enforcement action

As previously reported, in January 2014, the California federal district court hearing the CFPB’s enforcement action against Morgan Drexen rejected Morgan Drexen’s motion to dismiss based on a challenge to the CFPB’s...more

Illinois Pension Reform Update: Judge Stays Implementation Of Pension Reform Law

On May 14, 2014, an Illinois Circuit Court Judge in Springfield issued an order staying the Pension Reform Law (Public Act 98-0599 – the “Act”) in its entirety and blocking the enforcement and administration of the Act until...more

Round Two – Ground Rent Holders vs. Legislature – Goes to…

In a case decided February 26, 2014, State of Maryland v. Stanley Goldberg, et al., No. 8, September Term, 2013, the Maryland Court of Appeals found that legislation that replaced the remedy of ejectment with a...more

Supreme Court Denies Certiorari for Standing to Sue under the Electronic Fund Transfers Act

The United States Supreme Court declined to grant certiorari to decide whether Congress had the authority to confer Article III standing to sue when the plaintiff suffers no concrete harm and alleges as an injury based on a...more

U.S. Supreme Court denies certiorari in EFTA standing case

We have previously written about Charvat v. Mutual First Federal Credit Union, the case in which the Eighth Circuit held last year that denial of a statutory right is a sufficient injury to confer standing, even if the injury...more

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