Polsinelli Podcasts - Class Action Lawsuits: What to do When the Claim Arrives
Blecker: GM Recalls Show Need for Harsher Penalties for "Red Collar" Criminals
Polsinelli Podcast - FDA Proposed Changes to Food Labels and What it May Mean for Manufacturers
Manufacturers, Importers and Retailers Must Take Action Following DTSC Reveal of Priority Products
Doing Business in California, Proposition 65, the California Green Chemical Initiative and the Rigid Plastic Packaging Regulations
Polsinelli Podcast - Food Safety Modernization Act
Bill on Bankruptcy: Delaware Garners Almost All Big Chapter 11s
Bill on Bankruptcy: Listening in the Dark at the NCBJ
Dean: Law Schools Use Merit Scholarships To Boost Rankings
Dean: Law Firms 'Support' NYLS's 2 Year Degree Program
Bill on Bankruptcy: LightSquared, the Battle among Hedge Funds
Bill on Bankruptcy: Appeals Court Changes the Law on Fraud
Bill on Bankruptcy: Make-Whole Premiums, Lehman, ResCap
Rice: Banking Lobby Won't Let New Glass-Steagall Bill Pass
Bar President: 3Ls Should Get Paid for Internships
Bill on Bankruptcy: Lawyers Must Disclose What Clients Pay
NALP: 18-Year Low for Law Grad Employment
Is Edward Snowden a Whistleblower?
Unique Privacy Concerns for Mobile Apps
Instapundit: America's IP Laws Need to be "Pruned Back"
On July 1, the U.S. Attorney for the Southern District of New York announced that a large bank agreed to pay $10 million to resolve allegations that prior to 2011 it violated the False Claims Act and FIRREA by failing to...more
SunTrust Banks (“SunTrust”) reached a settlement with Federal prosecutors last week in which it agreed to a $320 million settlement for a combination of consumer relief and housing counseling services. SunTrust issued a press...more
On June 16, Massachusetts Attorney General (AG) Martha Coakley announced that a large mortgage servicer agreed to provide $3 million in borrower relief and pay $700,000 to the Commonwealth to resolve allegations that the...more
The CFPB and the Department of Justice (DOJ) are joining forces to pursue damages and penalties against consumer lenders for violation of the Equal Credit Opportunity Act (ECOA) in pricing consumer loans....more
On February 7, the U.S. Ninth Circuit Court of Appeals issued its opinion in Brewster v. Sun Trust Mortgage, Inc. The decision stands as a stark reminder to mortgage lenders and servicers of the importance of verifying a...more
Last year, many observers were disappointed when the U.S. Supreme Court dismissed the appeal in First American Financial Corp. v. Edwards, the case that presented the issue of whether a plaintiff who brings a RESPA claim has...more
In D’Agostino v. Maldonado, 2013 WL 5476857 (Oct. 3, 2013), the New Jersey Supreme Court weighed in on whether the New Jersey Consumer Fraud Act ("CFA") could be triggered by a complex real estate deal between a purported...more
Federal Judge William Young in Massachusetts is making an unusual request of Wells Fargo in a Sept. 17 ruling in which he's requiring the bank's president and a majority of its board to approve a corporate resolution stating...more
CLASS ACTION COMPLAINT FOR BREACH OF CONTRACT, BREACH OF IMPLIED COVENANT OF GOOD FAITH AND FAIR DEALING, VIOLATION OF THE UNFAIR COMPETITION LAW, AND PROMISSORY ESTOPPEL.
THE 9TH CIRCUIT COURT OF APPEALS REVERSED THE...more
1. Whether the district court erred in ruling that plaintiffs failed to allege
the existence of binding TPP Agreements.
2. Whether the district court erred by dismissing plaintiffs’ breach of
Wells Fargo Mortgage Modification Lawsuits Revived by Court
In a separate action involving Wells Fargo, a U.S. Court of Appeals held that the bank must face lawsuits by home loan borrowers for refusing to offer them...more
IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA FIFTH APPELLATE DISTRICT OPINION ORDERED PUBLISHED ON 8/8/2013 Re: Borrower May Challenge The Securitized Trust’s Chain of Ownership
CERTIFIED FOR PUBLICATION
IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA FIFTH APPELLATE DISTRICT OPINION ORDERED PUBLISHED ON 8/8/13
Re: Borrower May Challenge The Securitized Trust’s Chain of Ownership
Glaski v. Bank of America, N.A.
Civil Action No. 3:13-cv-447
The Securities and Exchange Commission today charged Bank of America and two subsidiaries with defrauding investors in an offering of residential mortgage-backed securities (RMBS) by failing to...more
The California Court of Appeal, Fourth Appellate District, held in a case of first impression that a section of California law that prohibits a deficiency judgment following a foreclosure on a purchase money loan similarly...more
As we reported earlier this year, the CFPB was actively investigating a company called 3D Resorts-Bluegrass, LLC for possible violations of the Interstate Land Sales Full Disclosure Act (ILSA)....more
It appears the CFPB wants to send a warning through the lawsuit it filed yesterday in a Utah federal court against a mortgage company and two of its officers for allegedly paying illegal bonuses to loan officers that were...more
The CFPB announced that it had filed a complaint yesterday in a federal district court against Utah-based Castle & Cooke Mortgage, LLC (“C & C”) and two of its officers for illegally giving bonuses to loan officers who...more
In a case that may have far-reaching consequences, a lawsuit was filed in federal court in Colorado accusing Bank of America of racketeering (RICO).
It was a game to the bank. They intentionally lured people into what they...more
A trial judge has ordered the lender to execute a permanent modification based upon the borrowers total compliance with the provisions of the trial modification.
Wells Fargo (Wachovia) was given the terms of the...more
Deloitte LLP’s financial advisory services unit agreed to pay $10 million and accept a one-year ban from consulting for New York-regulated banks to settle regulators’ allegations the firm mishandled its anti-money-laundering...more
Bank of America’s mortgage servicing unit systematically lied to homeowners, fraudulently denied loan modifications, and paid their staff bonuses for deliberately pushing people into foreclosure: These allegations were...more
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
Bank of America was found to LACK STANDING to Foreclose.
It turns out that Chase never paid for anything. While it could be argued that they assumed the liability on billions of dollars in deposits, they also got the...more
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