Restitution

News & Analysis as of

CPFB Turns Three: Three Years, Big Impact

The Consumer Financial Protection Bureau (“CFPB”) has concluded its third year. Created under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), the Bureau has taken significant steps to...more

Mortgage Company Resolves HAMP-Related Criminal Allegations

On July 3, the DOJ announced the resolution of a multi-agency criminal investigation into the way a large mortgage company administered the federal Home Affordable Modification Program (HAMP). According to a Restitution and...more

In Criminal Defense Victim Restitution is Not Punishment, but it Sure Feels Like it! #CriminalAttorney

ne of the fundamental principles of our criminal justice system is that one person should never be punished for the misdeeds of another. As a result, if an eighteen-year-old gets drunk and smashes several car windows with a...more

Insurance Recovery Law - July 2014 #2

U.S. Bank Wins Coverage Under Delaware Law For $55 Million Overdraft-Related Settlement - Why it matters: In a victory worth tens of millions of dollars, a Minnesota federal court ruled that U.S. Bank is...more

West Virginia Supreme Court Upholds $14 Million Award In Finance Company “True Lender” Case

On May 30, the West Virginia Supreme Court of Appeals affirmed a series of trial court orders requiring a nonbank consumer finance company to pay $14 million in penalties and restitution for allegedly violating the state’s...more

L.A. Sues JPMorgan Over Discriminatory Mortgage Lending Practices

On Friday, May 30, 2014, asserting that “[i]t is axiomatic that banks should not make discriminatory loans”, the City of Los Angeles filed a two-count complaint against JPMorgan Chase & Co. in Federal Court for the Central...more

Recent Sentences for Federal Tax Crimes in 2014 – Part 3

Today we conclude our review of recent sentences imposed in federal tax crime cases in 2014. In our two previous posts here and here, we reviewed sentences relating to Foreign Bank Account, Tax Evasion, Employment Tax, False...more

Recent Sentences for Federal Tax Crimes in 2014 – Part 2

On Friday, we posted a review here of sentences imposed on defendants in 2014 for Foreign Bank Account, Tax Evasion, and Employment Tax crimes. In this post, we review sentences imposed on defendants in cases involving False...more

Offshore Fund-Related Litigation

Litigation against directors, officers and professional service providers, following the collapse of offshore funds and collective investment schemes such as Madoff and Weavering, continues to proceed in a variety of...more

$76 Million Distributed in Full Tilt Poker Restitution

We have previously reported on the arrangements being made by the Garden City Group for remittance of money to the former customers of Full Tilt Poker. Since that time, there has been a lengthy process for the submission of...more

Voluntary Restitution Programs and Class Action Exposure: Lessons from the Hyundai/Kia Consumer Class Action Settlements

In many misleading advertising and consumer protection cases, a company that discovers a regulatory breach will self-report to the Competition Bureau or other law enforcement agencies, and implement a voluntary compensation...more

Judge Koh Tosses Restitution and Disgorgement Claims in Bumble Bee Class Action

In one of the first summary judgment rulings in the onslaught of food mislabeling and misbranding class actions, Judge Lucy Koh of the Northern District of California tossed the plaintiff’s restitution and disgorgement...more

You’ve Settled The Class Action—Can The State AG Demand Another Payout?

One of the more alarming recent developments in the class-action arena is the increase in actions by state attorneys general that mirror private class actions. These state AG actions aren’t like the typical enforcement...more

Justice Department sinks ex-Navy engineer’s 15-year kickback scheme

In Brief - Defendant’s sentence includes jail time, restitution of $18 million and a fine. - Case highlights importance of government contractors using compliance programs to identify wrongdoing and avoid...more

Ten Steps To Help Insurers Preserve Their Right To Restitution Under Federal Victims’ Rights Statutes

The Crime Victims’ Rights Act and the Mandatory Victims’ Restitution Act provide a wide range of circumstances under which those convicted of federal economic crimes must pay court ordered restitution to their victims. Unlike...more

Can A State Impose Civil Penalties On A Drug Or Device Company For Using A Federally-Approved Label?

Overview - States have increasingly brought actions under Medicaid fraud or consumer protection statutes seeking civil penalties and restitution from the makers of prescription drugs. Many top-selling drugs have been...more

Eleventh Circuit Clarifies District Court’s Power To Order Criminal Defendants To Pay Restitution For Uncharged Or Dismissed...

In United States v. Edwards, No. 11-15953, (11th Cir. Sept. 6, 2013), the U.S. Court of Appeals for the Eleventh Circuit made clear that a district court may order restitution for acts of related conduct—even if the criminal...more

CFPB and OCC Issue Joint Enforcement Action Related to Credit Card Practices

The CFPB announced that it and the OCC have issued a consent order against two affiliated banks alleging violations of federal consumer protection laws for deceptive marketing of their add-on products (i.e., payment...more

Muddying the Waters on Policy Stacking Law: Perspectives on Insurance Recovery Newsletter – Summer 2013

In This Issue: - Federal Housing Finance Agency Proposes New Rules on Lender-Placed Insurance - J.P. Morgan Decision Curtails the Phantom “Restitution Defense” to D&O Coverage - Bad-Faith Claims...more

Short Wins - Sleepy Time In The Circuits

It's a sleepy week in the Circuits last week - a resentencing and a restitution remand. To the victories! United States v. Daniels, et al., Fifth Circuit: Appellants were convicted of conspiring to distribute...more

Weighing The Price Of Crime — Apportioning Restitution Based On Relative Fault

Criminal justice practitioners understand that ‘‘joint and several liability’’ stands for the common proposition that each co-conspirator should be equally responsible for all provable losses the conspiracy caused. Put...more

Visa Loses Motion to Dismiss in Genesco Case - Are the Days for PCI Assessments Numbered?

In a highly anticipated decision, a federal court in Tennessee let stand a retailer’s claims against Visa for violation of California’s Unfair Competition Law (UCL) and for common law claims for unjust enrichment and...more

J.P. Morgan Decision Curtails the Phantom “Restitution Defense” to D&O Coverage

In a case closely watched by industry observers, the New York Court of Appeals, in J.P. Morgan Securities v. Vigilant Insurance Company, No. 113 (NY, June 13, 2013), issued an important ruling in the field of directors and...more

Power Move: Referring Trade Secrets Theft To The Government For Criminal Prosecution

You’ve just discovered that an employee who recently left your company took your company’s valuable trade secrets with him to his new employer. What are your options?...more

California Federal District Court Reinstates Order In Overdraft Class Action

On May 14, the U.S. District Court for the Northern District of California reinstated a prior order enjoining a national bank from engaging in false or misleading representations relating to certain overdraft practices and...more

39 Results
|
View per page
Page: of 2