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Consumers Permitted To Proceed With Data Breach Class Action Against Target

On December 18, 2014, the U.S. District Court for the District of Minnesota ruled, in a 46-page opinion, that a putative class of consumers could proceed with a majority of their claims against Target arising from the data...more

Financial Institutions’ Claims in Data Breach Litigation Survive Target’s Motion to Dismiss

In a much anticipated decision, a United States District Court in Minnesota denied Target’s attempt to dismiss financial institutions’ putative class action claims relating to losses they suffered as a result of last year’s...more

Court Allows Financial Institutions To Proceed With Data Breach Class Action Against Target

On December 2, 2014, a U.S. District Court in Minnesota ruled that a group of banks and other financial institutions (collectively, “FIs”) could proceed with a class action against large national retailer Target arising from...more

Orrick's Financial Industry Week in Review

FCA has Published a Consultation Paper on Regulatory Fees and Levies for 2015/16 - ?On November 27, the Financial Conduct Authority (FCA) published for comment a consultation paper on its fees and levies as part of...more

Minnesota Federal Judge Allows Data Breach Suit Against Target to Proceed

On December 2, District Judge Paul Magnuson denied Target’s motion to dismiss the class action suit brought by banks in response to its 2013 data breach. In re: Target Corporation Customer Data Security Breach Litigation,...more

An Early Christmas Present for Consumers? Court Rules that Retailers Can Be Liable to Banks Arising from Data Breaches.

Cyber-Monday sales weren’t the only good thing that happened for consumers last week. Later in the week a federal judge in Minnesota thwarted Target’s attempt to dismiss a lawsuit brought by banks and credit unions arising...more

Issuer Banks’ Claims in Target Data Breach Litigation Survive Motion to Dismiss

Federal District Judge Paul Magnuson has ruled that banks that issued credit and debit cards to customers whose data was stolen in the December 2013 Target data breach could continue to litigate claims against Target for...more

TCPA Connect - November 2014

Ruling on ATDS Capability, California Court Dismisses TCPA Suit - Siding with courts that evaluate a system’s present – not potential – capacity to store or produce telephone numbers when considering whether a system...more

Home Depot Data Breach Litigation: Venue and Consolidation

Substantive litigation in the flood of lawsuits concerning the recent Home Depot data breach awaits a determination of where the cases will be heard. Numerous overlapping lawsuits have been filed in courts throughout the...more

Third Circuit Holds that Envelope Revealing Consumer’s Account Number Violates the FDCPA

The Third Circuit Court of Appeals recently held that an envelope revealing a consumer’s account number through a clear plastic window constitutes a violation of the Fair Debt Collection Practices Act (“FDCPA”). In doing so,...more

Cyber Voluntary Payment Defense Thwarted by Bank Fraud Regulation

Financial institutions are one of the entities most threatened by cyber crisis events. As data breaches and cyber threats become more inventive, the risks to financial institutions and their clients continue to grow. However,...more

Nebraska Federal Court Refuses To Dismiss Suit Claiming Breach Of Contract, Violation of State Law for Unauthorized Credit Card...

On August 20, the U.S. District Court for the District of Nebraska denied motions to dismiss filed by a Nebraska bank and two credit card processing companies in response to a purported class action filed by a merchant...more

Court Denies Certification Citing Putative Class Representative’s Criminal History

In Dunford v. American Databank, LLC, the plaintiff alleged that the defendant violated the Fair Credit Reporting Act by including within her criminal background report charges that were more than seven years old. The...more

Bank Customer – Not the Bank – Liable for Fraudulent Wire Transfer

Recent security breaches have focused attention on the allocation of risk associated with fraudulent payments. The recent U.S. 8th Circuit Court of Appeals decision in Choice Escrow & Land Title, LLC v. BancorpSouth Bank...more

Corporate and Financial Weekly Digest - Volume IX, Issue 26

In this issue: - Delaware Fee-Shifting Legislation Delayed - SEC Orders Securities Exchanges and FINRA to Develop Tick Size Pilot Plan - CFTC Extends Relief to FCMs from Certain Commingling...more

Stolen Customer Data Results in Ontario's First Certified Privacy Class Action

Businesses that collect personal information have an added incentive to monitor employees handling customer data – Ontario's first class action arising from the new tort of "intrusion upon seclusion" was certified last week....more

Target Data Breach Suit By Banks Extends To Security Vendor

December 18, 2013, was a dark day for Target Corp. Nationally ousted as the victim of the largest retail data breach in history, Target’s CEO Gregg Steinhafel took pains to assure consumers “they will not be held financially...more

Banks Withdraw Lawsuits Against Target and Trustwave

UPDATE to our story yesterday: In what apparently is a big “oops,” two banks that took legal action against Target over its recent data breach have withdrawn their claims. The suits were withdrawn due to an erroneous...more

Willful Fair Credit Reporting Act Violation Confers Article III Standing

Whether they would admit it or not, most people have probably at some point searched for their own name in a search engine. Often the results illustrate how much personal information has been scraped and aggregated by...more

Fear FACTA: Beware the Truncation Requirement of the Fair and Accurate Credit Transactions Act

All businesses, large and small, that issue electronically generated credit or debit card receipts to consumers at the point of transaction are subject to the “truncation” requirement of the Fair and Accurate Credit...more

Genesco Wins One, Loses One in Its Case Challenging PCI DSS Fines and Assessments

On November 25, 2013, Chief Judge William Haynes filed the latest order in Genesco v. Visa, Civ. No. 3:13-cv-00202 (M.D. Tenn.). In his one-line order, Judge Haynes denied Genesco’s motion for partial summary judgment...more

Germany/EU: European Court of Justice will decide on relationship between claim for information based on trademark law and bank...

On 17 October the German Federal High Court ("BGH") has submitted a request for a preliminary ruling to the European Court of Justice ("ECJ") to clarify whether a bank may refuse to reveal the name and the address of a bank...more

Wal-Mart Prevails in Credit Card Class Battle Over Practice of Collecting Addresses and Phone Numbers

In a victory for Wal-Mart Stores, Inc., a federal district court judge has refused to certify a Rule 23(b)(3) class in a lawsuit for violation of California’s Song-Beverly Credit Card Act (Cal. Civ. Code § 1747 et...more

Fifth Circuit Restores Negligence Claim In Data Breach Case

On September 2, the U.S. Court of Appeals for the Fifth Circuit restored a group of financial institutions’ negligence claim against a payment processor in Lone Star Nat. Bank v. Heartland Payment Systems, No. 12-20648, 2013...more

Further Amendments To The Russian Civil Code

FOLLOWING THE FIRST SET OF AMENDMENTS TO THE RUSSIAN CIVIL CODE WHICH WAS ADOPTED ON 30 DECEMBER 2012, THE SECOND AND THIRD SETS OF AMENDMENTS TO THE CIVIL CODE HAVE NOW ALSO BEEN SIGNED INTO LAW. The second set of...more

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