Finance & Banking – May 23, 2012

by Quinn Emanuel Urquhart & Sullivan, LLP on 5/23/2012

Federal legislation has yet to specify the extent to which state law may protect directors and officers of failed banks against claims of simple negligence by FDIC, and Congress may soon be urged to step in. For now,...more

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

In This Issue: - Financial Industry Developments · FHFA Releases Draft Strategic Plan · Large Bank Stress Testing Guidance Finalized · Stress Testing for Community Banks · CFTC Rule on Swap...more

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

On May 15, 2012, IKB Deutsche Industriebank AG and an IKB affiliate filed two lawsuits against Bank of America and related entities in the New York Supreme Court. The first, in which several Countrywide entities are also...more

by Cadwalader, Wickersham & Taft LLP on 5/22/2012

On April 25, 2012, the U.S. Court of Appeals for the Eleventh Circuit overturned a decision by the U.S. District Court for the Northern District of Georgia permitting noteholders to proceed with a fraudulent transfer suit...more

by Sheppard Mullin Richter & Hampton LLP on 5/21/2012

In Debrunner v. Deutsche Bank Nat. Trust Co. (Cal.App. 6 Dist., 2012) --- Cal.Rptr.3d ----, 2012 WL 883128, the California Court of Appeal affirmed the dismissal of a complaint for wrongful foreclosure with prejudice, holding...more

by Cadwalader, Wickersham & Taft LLP on 5/18/2012

On May 15, 2012, the Eleventh Circuit Court of Appeals upheld a ruling by the U.S. Bankruptcy Court for the Southern District of Florida, which required certain lenders to return $403 million in prepetition payments they had...more

by BuckleySandler LLP on 5/15/2012

On May 10, HUD and the U.S. Attorney for the Southern District of New York announced the settlement of a lawsuit alleging violation of the False Claims Act by a mortgage originator and affiliated entities. The government...more

by Orrick, Herrington & Sutcliffe LLP on 5/14/2012

- Financial Industry Developments · CFTC Final Rules on Designated Contract Markets · CFTC Proposed Order to Extend the Effective Date for Swap Regulation · SEC Approves MSRB Interpretive Notice on Duties...more