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Transaction Fees

MG+M The Law Firm

Visa/Mastercard Antitrust Class Action Claim Filing Deadline Extended to August 30

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In the massive antitrust class action against Visa, Mastercard and more than 25 banks, the deadline has been extended for victims of overpaid credit or debit card transaction fees to file a claim to their share of the $5.54...more

Vinson & Elkins LLP

“The Ball is in Congress’ Court”: U.S. Supreme Court in Corner Post Paves the Way for Challenges to Longstanding Treasury...

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In the final decision of the Supreme Court’s term, the Court again considered the Administrative Procedure Act (“APA”). Like earlier decisions this term considering the APA (see here and here), the opinion in Corner Post,...more

Partridge Snow & Hahn LLP

Upcoming Supreme Court Decisions Could Change the Landscape for Challenging Federal Agency Regulations

Three cases, all argued this term before the United States Supreme Court and likely to be decided in June, carry major implications for litigation between federal agencies and regulated entities.  Depending on the Court’s...more

Holland & Knight LLP

U.S. Tax Court Holds Bond Financing Costs Are Includible in LIHTC Basis

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A U.S. Tax Court decision entered on Feb. 20, 2024, in 23rd Chelsea Associates LLC v. Commissioner of Internal Revenue held that bond issuance and related financing costs incurred in connection with the development of a...more

Paul Hastings LLP

IRS Issues Proposed Regulations for Digital Asset Reporting

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The Internal Revenue Service and Treasury Department have issued long-awaited Proposed Regulations for parties that will be required to report transactions involving digital assets. These newly identified parties will need to...more

Barnea Jaffa Lande & Co.

Price Display in Credit Transactions: What are the Obligations?

The Haifa District Court recently handed down a ruling in a motion to certify a class action filed against Ofir Tours Ltd. by its customer. The plaintiff bought an Eilat hotel vacation through Ofir Tours, paying in credit...more

Orrick, Herrington & Sutcliffe LLP

National bank to pay $2 million in mortgage fee violation class action

On December 19, the U.S. District Court for the Central District of California granted final approval of a settlement in a $2 million class action resolving allegations that a national bank violated California’s Rosenthal...more

Bowditch & Dewey

Boston’s Effort to Create and Preserve Affordable Housing: Real Estate Transfer Fees and Senior Property Tax Relief

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In a further effort to create and preserve affordable housing, the Massachusetts House of Representatives recently advanced House Bill 4637, “An Act Relative to Real Estate Transfer Fees and Senior Property Tax Relief” (“H.B....more

Holland & Knight LLP

Circuit Courts of Appeal Uphold Dismissal of 401(k) Fee Challenges Post-Hughes

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Following the U.S. Supreme Court's decision in Hughes v. Northwestern University, courts around the country continue to articulate the pleading requirements for a breach of duty of prudence claim under the Employee Retirement...more

BCLP

Deceptive and Unfair - Multiple NSF Fees on Representments of the Same Transaction

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In guidance issued recently, the Federal Deposit Insurance Corporation (“FDIC”) advised that charging multiple non-sufficient funds (“NSF”) fees constitute “violations of law” when customer disclosures do not fully and...more

BakerHostetler

Not Every Payment Processing Case Is the Same - the Latest FTC Case Provides Some Helpful Reminders

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Most of the Federal Trade Commission’s (FTC) law enforcement actions involving payment processors have exclusively focused on allegations that processors did not do sufficient due diligence before onboarding questionable...more

Eversheds Sutherland (US) LLP

Focus on Fintech: Round up of Q2 updates coming out of the CFPB

Take-aways From Director Chopra’s Semi-Annual Report to Congress - On April 6, 2022, the Consumer Financial Protection Bureau (CFPB) issued its semi-annual report to Congress required under Dodd-Frank....more

Nutter McClennen & Fish LLP

Nutter Bank Report: June 2022

Headlines - ..FDIC Proposes Substantial Increase in Deposit Insurance Assessment Rates ..Federal Reserve Releases New CECL Implementation Tool: Expected Losses ..Estimator OCC Report Highlights Risks Facing the Federal...more

Eversheds Sutherland (US) LLP

Utah and Virginia to require cost-of-credit disclosures and registration for certain commercial financing providers

Spurred in part by the pandemic, regulators and legislators have been increasingly focused on the accessibility and transparency of loans to small-to-medium businesses. On the federal level, the CFPB is considering a rule...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2022

FDIC Directs Banks to Provide Notice Before Engaging in Crypto-related Activities According to guidance recently issued by the FDIC, banks that it supervises and that intend to engage in, or are already engaged in, activities...more

Faegre Drinker Biddle & Reath LLP

The SEC Sues Investment Advisory Firm in Connection with Alleged Failure to Disclose Revenue Sharing and Other Financial...

In recent years, the SEC has been conducting a nationwide and industry-wide “sweep” of investment advisory firms, pursuant to which it has opened investigations and brought enforcement actions against a multitude of...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2022

Federal Reserve Considers Merits of Creating a U.S. Dollar Digital Currency The Federal Reserve has published a discussion paper that examines the pros and cons associated with the creation of a U.S. central bank digital...more

Perkins Coie

Fintech Legal Report - October 2021 #2

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CFPB Initiates Inquiry into Big Tech Payment Platforms - On October 21, 2021, the Consumer Financial Protection Bureau (CFPB) ordered six large technology companies—Google, Apple, Facebook, Amazon, Square, and PayPal—to...more

BCLP

Certified Progress for the UK’s Collective Actions Regime - the First Opt-Out Class Action has been Approved

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This week has seen a major breakthrough in the UK’s fledgling class action regime, which brought opt-out collective proceedings to the UK for the first time back in 2015. The first opt-out collective action has now been...more

Goodwin

Minnesota AG Settles with Student Loan Debt-Relief Company for Allegedly Unlawful Fee Collection

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On January 14, 2021, Minnesota Attorney General Keith Ellison (Minnesota AG​​) announced that his office reached a settlement with a California-based student loan debt-relief company that allegedly collected unlawful fees...more

Hogan Lovells

Gunning for success – Hong Kong Court of Final Appeal rules on fees in financial introductions

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It is not uncommon for companies exploring expansion or other ways of raising capital to engage financial advisers to provide a range of consultancy services, including the introduction of potential investors or deals of...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Adjacent Property Owner/Petroleum Storage Tank: Federal Appellate Court Addresses Damage Issue

The United States Court of Appeals for the Tenth Circuit (“Court”) addressed in a November 4th Order and Judgment (“Order”) damage issues caused by an adjacent convenience store (“Store”). See Sonrisa Holding, LLC v. Circle K...more

Nutter McClennen & Fish LLP

Nutter Bank Report: September 2020

Federal Court in New York Dismisses Claims Against PPP Lenders for Agent Fees - A federal court in New York has dismissed claims made in six class action lawsuits against several banks and other Small Business...more

Dechert LLP

SEC Proposes to Modernize Disclosure Framework for Mutual Funds and Exchange-Traded Funds, Modify Fee Information in Investment...

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The Securities and Exchange Commission on August 5, 2020 unanimously approved proposed rule and form amendments (Proposed Rule) that would comprehensively revise and update the disclosure framework for mutual funds and...more

K&L Gates LLP

SEC Proposes Major Changes to Prospectus and Shareholder Report Disclosure Scheme

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I. INTRODUCTION AND SUMMARY - The Securities and Exchange Commission (SEC) has proposed a bold new approach to shareholder and investor communications by investment companies registered on Form N-1A under the Investment...more

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