Finance & Banking, Civil Procedure, Administrative Law

CFPB Issues Final Rule On FOIA And Litigation Procedures

by Stephen M. Quinlivan | Leonard, Street and Deinard - Dodd-Frank and... on 2/18/2013

The CFPB has issued a final rule that establishes procedures for the public to obtain information from the Bureau of Consumer Financial Protection, under the Freedom of Information Act, the Privacy Act of 1974, and in legal...more

Is the legal environment changing for Russia-related transactions? What new challenges will parties face and how should they...

by David Crook, Andrei Donstov, David Goldberg | White & Case LLP on 1/15/2013

A dynamic market - Russia is a dynamic, developing growth market, with a constantly changing legal environment. Right now Russia is seeing an upturn of activity in corporate transactions of all kinds: mergers and...more

Orrick's Financial Industry Week in Review - January 7, 2013

by Orrick, Herrington & Sutcliffe LLP on 1/14/2013

In This Issue: *Financial Industry Developments - OCC Guidance on Transition Periods under Section 716 of the Dodd-Frank Act - CFTC Reporting of Swap Transactions and Swap Dealer Registration - Department...more

Ninth Circuit Vacates Restitution Order In Overdraft Ordering Case, Allows State Fraud Claims To Proceed

by BuckleySandler LLP on 1/10/2013

On December 26, the U.S. Court of Appeals for the Ninth Circuit held that a national bank’s practice of posting payments to checking accounts in a particular order is a federally authorized pricing decision, and that federal...more

Where Have All The CAFA Notices Gone?

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 1/9/2013

On February 18 2005, Congress enacted the Class Action Fairness Act (CAFA), P.L. No. 109-2 (28 U.S.C. §§ 1332(d), 1453, and 1711 – 1715). In enacting the CAFA, Congress sought to protect consumers and investors from...more

Supreme Court Denies Certiorari in Stem Cell Funding Case

by Donald Zuhn | McDonnell Boehnen Hulbert & Berghoff LLP on 1/8/2013

In an order issued earlier today, the Supreme Court denied certiorari in Sherley v. Sebelius, ending the efforts by two adult stem cell researchers to prevent the National Institutes of Health (NIH) from funding research...more

California Federal District Court Holds Force-Placed Insurance Claims Not Preempted By National Bank Act

by BuckleySandler LLP on 1/7/2013

On December 11, the U.S. District Court for the Northern District of California refused to preempt under the National Bank Act claims that a mortgage lender breached its contract by force-placing a backdated flood insurance...more

Possible New Defenses for ATM Suits

by William Frank Carroll, Cary Plotkin Kavy, Karen Neeley | Cox Smith on 1/5/2013

Bankers received a Christmas present on December 20, 2012 when President Obama signed H.R. 4367, which eliminates the requirement for physical notices on ATMs regarding fees. That information is already disclosed onscreen,...more

California Appeals Court Enjoins Nonjudicial Foreclosure For Lenders’ Failure To Comply With HUD Servicing Requirements

by BuckleySandler LLP on 1/3/2013

On December 13, the California Court of Appeal for the First Appellate District held that the HUD servicing requirements were incorporated by reference into the borrowers’ FHA deed of trust and served as conditions precedent...more

TILA Does Not Require a Loan Servicer to Identify the Loan's Owner

by Patrick Wong | Foley & Lardner LLP on 1/2/2013

The Ninth Circuit recently sided with a loan servicer who was sued by a borrower for failing to provide him with the loan owner’s information. In Gale v. First Franklin Loan Services et al., 686 F.3d 1055 (9th Cir. 2012),...more

Seventh Circuit dismisses NLRB recess appointment challenge

by Barbara S. Mishkin | Ballard Spahr LLP on 1/2/2013

Because of their potential implications for the validity of CFPB Director Cordray’s appointment, we have been following several pending cases challenging the National Labor Relations Board’s authority to take various actions...more

New Legislation Prevents Privilege Waiver When Providing Information To CFPB

by Stephen M. Quinlivan | Leonard, Street and Deinard - Dodd-Frank and... on 12/31/2012

A new bill has been signed into law which prevents a waiver of attorney-client privilege when a regulated entity submits information to the CFPB. ...more

Assignee Judgment Creditor May Apply For And Receive Property Held By The State Controller Pursuant To The Unclaimed Property Law

by June D. Coleman, Linda M. Monje | Kronick, Moskovitz, Tiedemann & Girard on 12/28/2012

In Weingarten Realty Investors v. Chiang (Cal. App. 4th, December 19, 2012), a California court of appeal considered whether a judgment creditor could claim property being held by the State Controller’s office on behalf of...more

NCUA Files Its Largest MBS Suit To Date

by BuckleySandler LLP on 12/26/2012

On December 17, the National Credit Union Administration (NCUA) announced a lawsuit on behalf of four insolvent credit unions against a mortgage securitizer in which the agency alleges violations of federal and state...more

Be Careful How You Word Your Claims Procedure

by Angela Bohmann | Leonard, Street and Deinard - Employee... on 12/26/2012

In a recent decision of the United States District Court for the Eastern District of Oklahoma, a retiree who had begun work as a union employee and who during his employment was promoted to a salaried position, sued his...more

Ninth Circuit Holds Mortgage Servicers Have No RESPA Duty To Respond To Request For Loan Terms

by BuckleySandler LLP on 12/21/2012

On December 11, the U.S. Court of Appeals for the Ninth Circuit held that letters sent by two borrowers challenging the monthly payment due on their mortgage loan were not “qualified written requests” and therefore did not...more

Court Dismisses Chamber of Commerce and ICI Lawsuit Over Amendments to CFTC Rule 4.5

by Cheryl I. Aaron, James M. Cain, Doyle Campbell, Kalaundra Y. Carreathers, Warren N. Davis, Jacob Dweck, Daphne G. Frydman, Meghan R. Gruebner, Alexander S. Holtan, Meltem F. Kodaman, more +Catherine M. Krupka, David T. McIndoe, Raymond A. Ramirez, Mark D. Sherrill, R. Michael Sweeney, Jr., Paul B. Turner | Sutherland Asbill & Brennan LLP on 12/17/2012

On Wednesday, December 12, the United States District Court for the District of Columbia dismissed a joint U.S. Chamber of Commerce (the Chamber) and Investment Company Institute (ICI) lawsuit against the Commodity Futures...more

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Finance & Banking › Civil Procedure › Administrative Law

CFPB Issues Final Rule On FOIA And Litigation Procedures

Is the legal environment changing for Russia-related transactions? What new challenges will parties face and how should they...

Orrick's Financial Industry Week in Review - January 7, 2013

Ninth Circuit Vacates Restitution Order In Overdraft Ordering Case, Allows State Fraud Claims To Proceed

Where Have All The CAFA Notices Gone?

Supreme Court Denies Certiorari in Stem Cell Funding Case

California Federal District Court Holds Force-Placed Insurance Claims Not Preempted By National Bank Act

Possible New Defenses for ATM Suits

California Appeals Court Enjoins Nonjudicial Foreclosure For Lenders’ Failure To Comply With HUD Servicing Requirements

TILA Does Not Require a Loan Servicer to Identify the Loan's Owner

Seventh Circuit dismisses NLRB recess appointment challenge

New Legislation Prevents Privilege Waiver When Providing Information To CFPB

Assignee Judgment Creditor May Apply For And Receive Property Held By The State Controller Pursuant To The Unclaimed Property Law

NCUA Files Its Largest MBS Suit To Date

Be Careful How You Word Your Claims Procedure

Ninth Circuit Holds Mortgage Servicers Have No RESPA Duty To Respond To Request For Loan Terms

Court Dismisses Chamber of Commerce and ICI Lawsuit Over Amendments to CFTC Rule 4.5

State Law Update: New Jersey Creates Summary Foreclosure Process For Vacant And Abandoned Properties

Municipal Pensions II: Do Survivors' Pensions Increase Whenever the Salary For the Position Does?

U.S. District Court Rebuffs ICI Challenge To CFTC Rule 4.5 Amendments

Legislation to fix CFPB privilege waiver problem passes Congress

Congress Passes Legislation To Fix CFPB Privilege Waiver Problem

Congress passes bill eliminating ATM fee sticker requirement

Special Alert: Congress Passes Bill Extending Privilege Waiver Protections To CFPB

Illinois Supreme Court to Resolve Municipal Pension Dispute

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