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PNC

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Fed’s Open Markets Committee meets today, and despite relatively robust economic numbers of late, the lack of oped-for inflation (among other things) is likely to keep the Fed from moving on interest rates again at this...more

A Bankruptcy Discharge Makes a Face-to-Face Meeting an Act in Futility

Just last fall, we wrote about the Eleventh Circuit’s decision in In re Failla, Case No., in our article, “The Eleventh Circuit has spoken: Debtors who surrender property must get out of the creditor’s way.” Now, it appears...more

Burr Alert: “Alakazam”(or not): No Magic Language Necessary for Confirmation Waivers as Georgia Courts Continue to Allow...

by Burr & Forman on

In last March’s edition of this newsletter, we discussed the Supreme Court of Georgia’s decision in PNC Bank, National Association v. Smith, in which the Court held that compliance with O.C.G.A. § 44-14-161 “is a condition...more

Your daily dose of financial news - The Brief – 9.14.16

by Robins Kaplan LLP on

Following news of Starboard Value’s plan to shake things up at Perrigo, we have this take from Breakingviews, which suggests that fending off a hostile takeover (as Perrigo did from Mylan) tends to “make fertile turf for an...more

Third Circuit Slams The Door On Coverage For The Cost of Defending Excluded Claims—Then Leaves It Wide Open

by Carlton Fields on

An insured corporation settles a class action, and a portion of the settlement pays the plaintiffs’ attorneys. Payments to the class are excluded from coverage under the terms of the corporation’s liability policy. But can...more

New York Supreme Court Rules that Merchant Lacks Standing to Sue MasterCard over Data Security Breach Assessments; All Merchants...

by Ropes & Gray LLP on

On May 5, the Commercial Division of the New York Supreme Court for Westchester County dismissed the complaint in Jetro Holdings, LLC v. MasterCard International, Inc., in which Jetro, a leading food service wholesaler, had...more

Real Property & Title Insurance Update: Week Ending April 1, 2016

by Carlton Fields on

REAL PROPERTY UPDATE - - Foreclosure: remittitur, rather than reversal of summary judgment, is proper where lender failed to provide sufficient evidence of late charges at summary judgment – Newman v. Ocwen Loan...more

Alabama Supreme Court Rejects Motion to Compel Arbitration Because Account Holder Did Not Click on Link to Arbitration Provision

by Balch & Bingham LLP on

Following the Alabama Supreme Court’s decision last Friday in Moore-Dennis v. Franklin, Nos. 1131142, 1131176, Alabama lenders should immediately review their account agreements to ensure any amendments to those agreements...more

N.D. Illinois: Bank’s HAMP Procedures Weren’t Unfair or Deceptive

by Goodwin on

A U.S. District Judge in the Northern District of Illinois recently granted summary judgment in favor of defendant PNC Bank on a borrower’s promissory estoppel and Illinois Consumer Fraud Act (ICFA) claims in connection with...more

Lenders Beware: Future Hurdles to Foreclosure Deficiency Actions May Lie Ahead

by Baker Donelson on

In an update to Kevin Stine’s June 6, 2014 article explaining the Georgia Court of Appeals decision to bid adieu to select foreclosure confirmation hurdles, the District Court for the Northern District of Georgia recently...more

Lenders Face Attorney Fee Liability for Preliminary Injunction Stopping “Dual Tracking”

Cases featuring “dual tracking” claims under California’s Homeowner Bill of Rights seem to be all the rage these days. My last post, Tender Not Required for a “Dual Tracking” Claim, highlighted a recent Court of Appeal...more

Servicer’s Loss Mitigation Letters Found Not to Be Attempts to Collect a Debt

A recent decision from Pasco County, Florida clarifies for lenders and servicers what constitutes an attempt to collect a debt when they are communicating with a debtor about loss mitigation. In Hurtubise v. P.N.C. Bank,...more

SDNY Clarifies Scope of Contractual Exclusions of Consequential Damages Under New York Law

by White & Case LLP on

On December 15, 2014, the United States District Court for the Southern District of New York ruled in PNC Bank v. Wolters Kluwer Financial Services that defendant Wolters Kluwer Financial Services ("WKFS") was not liable for...more

Get Your Prior Art Ducks in a Row Before Filing Your Inter Partes Review Petition

by McDermott Will & Emery on

National Environmental Products Ltd. v. Dri-Steem Corp.; PNC Bank National Ass’n v. Secure Axcess, LLC - In two recent decisions demonstrating that amending a petition for inter partes review (IPR) with supplemental...more

Claims Directed to a Mental Task Are Abstract, but Computerizing an Old Practice Is Not

by McDermott Will & Emery on

Cambridge Assocs., LLC v. Capital Dynamics; PNC Bank et al. v. Secure Axcess - Addressing the issue of patent-eligible subject matter for covered business method (CBM) patents, the U.S. Patent and Trademark Office...more

PNC Bank and Freddie Mac Reach Settlement Agreement

On December 6, PNC Bank announced an agreement in principle to an $89 million dollar settlement agreement with Freddie Mac resolving outstanding and potential repurchase claims arising out of the sale of some 900,000 loans to...more

Federal Reserve Announces Another Major Cash Settlement with Mortgage Servicers: $8.5 Billion to be Paid in Cash, Used to Help...

by Rosa Eckstein Schechter on

In a joint press release issued by the Federal Reserve and the Office of the Comptroller of the Currency, news this past week is that 10 mortgage servicers around the country have entered into a settlement agreement with the...more

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