FACTA

News & Analysis as of

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

Beyond Switzerland: Preparing for the Fallout from FATCA and Other Global Transparency Initiatives

You have implemented FATCA; what comes next? Will your company be the next witness in a US tax investigation? Financial institutions around the world must now prepare to respond to anticipated inquiries and investigations as...more

Ninth Circuit Finds Self-Identification By Class Members Does Not Satisfy Ascertainability Under Rule 23

The Ninth Circuit Court of Appeals recently affirmed a district court’s denial of class certification where a plaintiff failed to propose a plan to ascertain class members and therefore did not satisfy the manageability...more

Deadlines Coming for Multinationals’ Retirement Plans and U.S. Taxpayers with Foreign Financial Interests

In 2010, the U.S. enacted a sweeping change in enforcement of its tax laws on foreign financial interests, the Foreign Account Tax Compliance Act (FATCA). The main thrust of the act is to penalize foreign financial...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

US - Swiss voluntary disclosure program: deadlines are looming - Swiss banks need not panic, but must act swiftly and thoughtfully

The recently announced voluntary bank disclosure program between Switzerland and the US offers worried Swiss banks the possibility of peace of mind from future prosecution. The question now confronting Swiss banks is whether...more

eWorkplace Policies – Social-Media, Privacy & Internet-Security

Traditional concerns for employers have included: harassing or other discriminatory actions; other conduct leading to liability to third-parties; forbidden fraternizing; criminal activity; “frolic and detour” or other...more

Under the microscope: A brief history of UDAP laws and predictions for post-Dodd Frank developments

"This article reviews the history of UDAP from its antitrust origins to today's consumer protection focus, and outlines the Federal Trade Commission's test for unfair trade practices. The authors believe UDAP's history is not...more

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