Finance & Banking Civil Procedure

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

Lender Cleared From Being Classified As a "Developer" Under the Interstate Land Sales Act

Poyner Spruill has been keeping an eye out for lawsuits where the plaintiffs attempted to lump lenders in with developers for liability purposes and we are glad to report the North Carolina Court of Appeals has refuted such...more

Eleventh Circuit Holds Custodian Bank Has No Duty To Police Securities Transactions By Customer’s Investment Advisor

On April 14, the U.S. Court of Appeals for the Eleventh Circuit held that a custodian bank had no duty under New York or Florida law to identify or alert a customer to fraudulent transactions directed by the customer’s...more

Connecticut District Court Affirms Ruling that Collateral Estoppel Effect of California Judgments for Fraud Established Them as...

Debts based on fraud are not dischargeable in bankruptcy, but to achieve that result the aggrieved creditor must ordinarily commence a non-dischargeability action and prove the fraud. However, when an action for fraud is...more

Maine Allows Expedited Foreclosure Of Abandoned Properties

On April 5, Maine Governor Paul LePage signed into law LD 1389, which expedites foreclosures on properties determined by a court to be abandoned by shortening the redemption period from 90 to 45 days....more

FTC Settles Suit Against Tribe-Affiliated Lenders; Dispute Over CFPB Investigation Of Tribe-Affiliated Lenders Moves To Federal...

On April 11, the FTC announced that a tribe-affiliated payday lending operation and its owner agreed to pay nearly $1 million to resolve allegations that they engaged in unfair and deceptive acts or practices and violated the...more

Fifth Circuit Denies Deferential Review for Fiduciary Actions

Many employee benefit professionals are aware of the deferential standard of review provided to plan fiduciaries in accordance with the 1989 United States Supreme Court ruling in Firestone Tire & Rubber Co. v. Bruch. That...more

Plaintiff Has the Burden To Prove Its Right to Enforce the Note Even If It Is Not Challenged By the Defendant In Its Pleadings

The legal right to enforce, by judicial proceeding, a promissory note and mortgage is referred to as “standing”. This has been a hot topic in Florida foreclosure cases with courts holding that standing must exist when the...more

Orrick's Financial Industry Week in Review

European Banking Authority Publishes Opinion on European Commission's Proposed Amendments to ITS - On April 16, the European Banking Authority (EBA) published via its website an opinion dated April 4, 2014 on...more

Tribally-affiliated lenders file opposition to CFPB’s petition to enforce CIDs

We recently reported that the CFPB has filed a petition in U.S. District Court for the Central District of California seeking to enforce the civil investigative demands (CIDs) it issued in June 2012 to three...more

ERISA Penalty Claims — How To Handle Them

Are you seeing more ERISA Plaintiffs asserting claims seeking penalties for delayed production of ERISA-related documents? 29 U.S.C. 1132(c)(1) allows the Court to impose penalties of up to $110 per day for delays in...more

The ERISA Litigation Newsletter - April 2014

This month we discuss the evolving case law on the issue of whether unpaid employer contributions due under a collective bargaining agreement can be viewed as plan assets such that the individuals who decide to withhold such...more

Corporate and Financial Weekly Digest - Volume IX, Issue 16

In this issue: - US Court of Appeals for the District of Columbia Circuit Partially Invalidates Conflict Minerals Rule - FINRA Proposes Rule 2081 to Prohibit “Bargained-For” Expungements - SEC Issues FAQs...more

California Court: Commercial Crime Policy Rescinded Due To Insured’s Material Misrepresentation Concerning Handling of Funds

Kurtz v. Liberty Mutual Insurance Co., et al., Case No. 2:11-cv-7010 (C.D.Cal. April 14, 2014), was an insurance coverage dispute arising out of the downfall of Los Angeles businessman Ezri Namvar who has also been referred...more

Fourth Circuit Affirms Dismissal of Securities Fraud Complaint Where Inference of Scienter Was Not Sufficiently Strong

In Yates v. Municipal Mortgage & Equity, LLC, No. 12-2496 (4th Cir. Mar. 7, 2014), the United States Court of Appeals for the Fourth Circuit affirmed the dismissal of a securities fraud claim under Section 10(b) of the...more

Lehman: New Limitations on Plan Payment of Individual Creditors’ Committee Members’ Professional Fees

In the recent case of Davis v. Elliot Mgmt. Corp. (In re Lehman Bros. Holdings Inc.), 2014 U.S. Dist. LEXIS 48102 (S.D.N.Y. Mar. 31, 2014), the District Court for the Southern District of New York issued a decision barring...more

Real Property, Financial Services & Title Insurance Case Law Updates

I. FLORIDA STATE CASES - Quiet Title: deed reservation of right-of-way in favor of State, which applied only to tracts of land of 10 acres or more, did not attach to title of landowner of less than 10 acres and,...more

1st Circuit Limits Secured Lender’s Right to Post-Petition Interest by Applying Flexible Standard

In an important decision for lenders, the 1st Circuit Court of Appeals recently decided In re SW Boston Hotel Venture LLC, holding that a bankruptcy court was right to give a lender a claim for post-petition interest...more

CFPB amends CashCall complaint

The CFPB has filed an amended complaint in its lawsuit against CashCall and several related companies that funded, purchased, serviced and collected online payday loans to identify additional states in which the loans...more

Employment Law

Second Circuit: Inability to Sit for Long Periods Can Trigger ADA Coverage - Why it matters: Can an employee’s inability to sit for a prolonged period of time constitute a disability under the Americans with...more

Germany: When is a New Hire too old to join a Company Pension Scheme?

In Germany, all employees are mandatorily covered by the statutory pension insurance which provides the main source of income during retirement. In addition, many companies grant company pension benefits to their employees,...more

Privy Council rules on Fairfield

On 16 April 2014, the Privy Council ruled in the claims brought by the liquidators of Fairfield, one of the largest feeder funds into Bernard Madoff’s investment company. The BVI Commercial Court and the Eastern...more

W.Va. Requires Time-Barred Debt Disclosures in ‘Initial Written Communication’

The West Virginia Legislature recently passed H.B. 4360, which amended Section 46A-2-128 of the West Virginia Code, that defines what constitutes unfair or unconscionable debt collection activities. The amendments are...more

Pennsylvania Federal Court Rules on Debt Collector’s Alleged Violations of FDCPA

The United States Court for the Eastern District of Pennsylvania denied a motion to dismiss a borrower’s claim that a debt collection letter failed to provide adequate notice of her right to dispute the validity of the debt....more

First Circuit Rules on Borrower’s Challenge to Foreclosure under Massachusetts Law

Continuing a trend of rejecting challenges to foreclosure by Massachusetts borrowers, the First Circuit affirmed dismissal of a complaint alleging several commonly made arguments in foreclosure litigation. After defaulting,...more

CFPB Dispute with Tribe-Affiliated Lender Spills into Court

After denying a petition to set aside a civil investigative demand, the CFPB, filed a petition in the United States District Court for the Central District of California to enforce its civil investigative demand against...more

2,105 Results
|
View per page
Page: of 85

Follow Finance & Banking Updates on: