Credit Cards Class Action

News & Analysis as of

Seventh Circuit Green Lights Data Breach Class Action Against Neiman Marcus

An increase in data breach class actions could be the result of a recent decision of the Seventh Circuit holding that allegations of future harm stemming from a data breach can establish Article III standing. The majority of...more

Increased Risk for Buyers of Credit Card Loans

Third party debt buyers may face increased threat of state-law class action lawsuits after a recent Second Circuit ruling prohibiting such debt buyers from invoking federal preemption defenses under the National Bank Act to...more

Valid at Inception Rule Shot Down by the Second Circuit

Marketplace lenders and investors that purchase interests in loans originated by banks should pay close attention as it could spawn a host of class action lawsuits if left standing. In a controversial opinion decided on...more

Still Threatened: Arbitration Clauses in Securities Customer Agreements

In a report to Congress released in March, the Consumer Financial Protection Bureau (CFPB) takes aim at consumer agreements that require disputes to be resolved by arbitration. The CFPB generally does not have...more

Second Circuit Decision Could Disrupt Secondary Market for Bank-Originated Loans

A May 22, 2015 decision by the U.S. Court of Appeals for the Second Circuit appears to disturb the generally settled body of law concerning the status of non-bank investors with respect to applicable usury laws for...more

Significant Song-Beverly Developments Continue—Court of Appeal Signals it May Be Ready to Articulate a Bright Line Test of When a...

On May 13, the California Court of Appeal heard oral arguments for Harrold v. Levi Strauss, a case involving the question of whether a retailer violates the Song-Beverly Credit Card Act (“Song-Beverly”) by requesting a...more

Orrick's Financial Industry Week in Review

ICMA Issues Updated Legal Opinions On GMRA - On April 9, the International Capital Market Association (ICMA) published the 2015 legal opinions on the Global Master Repurchase Agreement (GMRA), the principal standard...more

Late Fees More Feasible After The Full Federal Court Overturns Decision On Penalties

On 8 April 2015 the Full Federal Court of Australia has found that certain bank fees were not penalties or otherwise unconscionable, unjust or unfair under statute reversing the first instance decision of Gordon J. This brief...more

Bernstein Shur Business and Commercial Litigation Newsletter #44

We are pleased to present the 44th edition of the Bernstein Shur Business and Commercial Litigation Newsletter. This month, we highlight recent cases that address subpoena enforcement, a rejected class action settlement, and...more

Attorneys’ Fees In Class Action Settlements Addressed By Judge Posner

Judge Posner of the Seventh Circuit is a frequent author of class action-related opinions. His most recent one reversed an order approving a class action settlement because the attorneys’ fee award was too high. The case...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

Surf’s Up: The Wave of High-profile Privacy Class Actions

Businesses have revolutionized the way they reach customers. Through computers, smart phones, iPads and a host of other technologies, we can now make purchasing decisions from the comfort of our homes. All we need to do is...more

Bank Settles Class Action Alleging UDAAP Violations for Credit Card Practices

Parties in a putative class action alleging that defendant, a bank, mislead consumers and failed to properly apply customer payments to its credit cardholders have reached a settlement. Plaintiffs alleged that defendant...more

Canadian Court Certifies Visa/Mastercard Class Action

In reasons publicly released on Thursday March 27, 2014, Chief Justice Bauman certified two classes of Canadian merchants who allege a price-fixing conspiracy related to Visa and MasterCard interchange fees. As the first...more

Seventh Circuit Holds Retailer’s Credit Card Upgrade Program Did Not Violate TILA

On March 19, the U.S. Court of Appeals for the Seventh Circuit held that a retailer’s credit card upgrade program that replaced existing customers’ limited use store charge cards with unsolicited general use credit cards did...more

Financial Services Law - Mar 14, 2014

State and Federal Lawmakers, Chair of Fed Weigh in on Regulation of Virtual Currency - The New York Department of Financial Services issued an order on Wednesday that it will immediately start accepting applications...more

Ninth Circuit Affirms Dismissal Of Credit Card Fee Constitutional Challenge

On January 21, the U.S. Court of Appeals for the Ninth Circuit affirmed a district court’s dismissal of a constitutional challenge to certain credit card fees. In re Late Fee and Over-Limit Fee Litig., No. 08-15218, 2014 WL...more

On the 11th Day of Privacy, class counsel served on me……

. . . a data breach class action. Hackers and plaintiffs’ lawyers could combine to make 2014 the year when class actions concerning theft of sensitive information proliferate. On this 11th Day of Privacy, we look...more

Collection of Email Addresses in Credit Card Transactions May Be Prohibited by California Law

The U.S. District Court for the Eastern District of California has held that the prohibition against requesting or requiring personal identification information in connection with credit card transactions contained in...more

S.D.N.Y. Dismisses Putative TILA Class Action Based On Credit Card Billing Practices

On October 18, the United States District Court for the Southern District of New York dismissed a putative TILA class action alleging that a bank made improper interest rate disclosures on credit card bills and assessed...more

Class Action Plaintiffs Lack Standing under Clapper to Sue Barnes & Noble for Credit Card Data Breach

Relying heavily on the Supreme Court’s recent Clapper decision, a federal court dismissed a class action lawsuit arising out of a “skimming” data breach against Barnes & Noble (BN)....more

Surcharges and Checkout Fees: Navigating the Mine Field

In November 2012, Visa and MasterCard agreed to alter their credit card surcharging rules as part of a settlement related to the class action case In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation....more

Advertising Law -- Jun 20, 2013

Supreme Court to Consider Lanham Act Standing - What factors should determine standing to sue for false advertising under the Lanham Act? The U.S. Supreme Court has agreed to answer that question in a case from...more

Massachusetts Zip Code Class Action: Take 3

Another class action suit has been filed in Massachusetts in the zip code wars. This time, the target is instrument retailer Guitar Center for allegedly requesting customers to provide their zip codes when making purchases...more

Previously Banned Fees Charged to Consumers Now Permissible for Visa and MasterCard Transactions

In November 2012, the U.S. District Court for the Eastern District of New York preliminarily approved a settlement agreement in the In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. As a result,...more

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