In this issue:
- CBOE Proposes to Amend Preferred Market Maker’s Continuous Quoting Obligations
- FATCA Regulations Are Finalized
- CFTC to Host Roundtable on “Futurization” of Swaps
- CFTC Amends Order of Registration and Approves Rulebook for LCH.Clearnet LLC
- NFA Issues Notice Regarding CTA Reporting Requirements
- 2012 Trends in Securities Class Action Filings
- Eleventh Circuit Holds that Net Revenue, Not Profits, Should Determine Damages in FTC Deceptive Marketing Case
- Consumer Financial Protection Bureau Releases Final Qualified Mortgage Rule and Proposed Amendments to Ability to Repay Rule
- FDIC Launches Community Affairs Webinar Series
- Agencies Issue Final Rule on Appraisals for Higher-Priced Mortgage Loans
An excerpt from "Eleventh Circuit Holds that Net Revenue, Not Profits, Should Determine Damages in FTC Deceptive Marketing Case"
The US Court of Appeals for the Eleventh Circuit recently affirmed a judgment against three individual defendants finding that the district court correctly used net revenue to calculate damages. Defendant-appellants were involved in a mortgage loan scheme in which they solicited financially distressed homeowners and offered them assistance either through loan modifications or bankruptcy. The district court found that the defendant-appellants engaged in deceptive activities relating to the sale and marketing of the mortgage relief and home foreclosure services they offered.
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Topics: Broker-Dealer, CFPB, CFTC, Class Action, False Advertising, FATCA, FDIC, FTC, Marketing, Mortgages, Qualified Mortgage Rule, Swaps, Unfair or Deceptive Trade Practices
Published In: Civil Procedure Updates, Communications & Media Updates, Finance & Banking Updates, Residential Real Estate Updates, Securities Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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