Wells Fargo

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Whacky Employment Claims: Who's Whackier? Management or the Employee?

As employment defense attorneys, we see many strange situations arise in the workplace. The question is, how prepared are you as an employer to handle the wackiness that may potentially arise when your employees make...more

Your Daily Dose of Financial News

White Collar Watch dates itself considerably with its Perry Mason allusion, but its bigger point is an interesting one–good luck finding a true “gotcha” moment when dealing with what are “quintessentially offenses of the...more

Your Daily Dose of Financial News

The struggle to attract and retain businesses and the jobs they provide has increasingly led to states and cities squaring off against others, with competing tax incentive packages the very real currency of the battle....more

Your Daily Dose of Financial News

As anticipated (and hinted-at forcefully by its officials), the Fed raised the benchmark interest rate yesterday to a range nearing 1 percent, a move that signals the slow end to the body’s nine-year stimulus effort....more

CFPB Imposes Record Fine on National Bank

On Thursday, September 8, 2016, the Consumer Financial Protection Bureau (“CFPB”), in connection with the Office of the Comptroller of the Currency (“OCC”) and the City of Los Angeles, announced that the government was...more

Your Daily Dose of Financial News

After months of anticipation, yesterday was finally official Snap IPO day. And despite losses of more than $500 million last year, the company saw willing investors flock to buy the $17 shares, pushing Snap’s valuation to...more

Fifth Circuit Rejects Arguments to Expand Scope of Liability under the Equal Credit Opportunity Act

In a published opinion issued February 16, 2017, the Fifth Circuit rejected arguments that would have expanded the scope of liability under the Equal Credit Opportunity Act (ECOA), 15 U.S.C. § 1691 et seq., for lenders, or...more

Your Daily Dose of Financial News

A review of the Fed minutes released yesterday shows the willingness of some Fed Governors to start rate raising again sooner rather than later....more

When Will Shareholders Force Boards to Do Compliance?

Today we honor one of the most iconic moments of World War II (WWII) and one of the most famous photographs of all time, that of the Marines raising the US flag on Mount Suribachi on the island of Iwo Jima. Marine...more

Your Daily Dose of Financial News

Activist investor Carl Icahn has taken a sizeable stake in Bristol-Myers Squibb, a move that reportedly caught execs at the drugmaker unawares and sets the stage for a potential sale....more

New York Appellate Court Reaffirms Avenue For Lenders To Revive Dismissed Cases Following Expiration of Statute of Limitations

As we get further away from the financial crisis of 2008, the statute of limitations has become a much more asserted and examined defense in mortgage foreclosure actions. Last week, New York’s Appellate Division, Second...more

DACA-Protected Plaintiff Files Class Action Alleging Lending Discrimination Based on Citizenship Status

On January 31, 2017, Mitzie Perez—a former undocumented immigrant who is authorized to work in the United States under the Deferred Action for Childhood Arrivals (“DACA”) policy—filed a class action in the Northern District...more

Real Property & Title Insurance Update: Week Ending February 3, 2017

REAL PROPERTY UPDATE: Foreclosure/Sufficiency of Notice: although lender’s notice of default did not expressly state that property could be sold in foreclosure, it substantially complied with notice provision (paragraph...more

Nev. Supreme Court Holds HOA Foreclosure Statute Constitutional, Splits with Ninth Circuit

The Nevada Supreme Court has upheld the constitutionality of Nevada's pre-2015 statutory scheme for homeowners association (HOA) foreclosures. This decision contradicts the Ninth Circuit Court of Appeals' conclusion that the...more

Is it time for an incentive mine sweep?

As Neel Doshi and Lindsay McGregor share in Primed to Perform, “no topic raises passion like pay.” And as they reflect, “pay-for-performance is neither inherently good nor inherently bad. Depending on the circumstances, it...more

Court Considers Priority of Replacement Mortgage Over Federal Tax Lien

In the case of Wells Fargo Bank, N.A. v. Svenby, 118 AFTR 2d 2016-5751 (September 8, 2016), the U.S. District Court for the Middle District of Alabama held that Wells Fargo’s replacement mortgage had priority over a Federal...more

Real Property & Title Insurance Update: Week Ending January 20, 2017

REAL PROPERTY UPDATE - Foreclosure/Vacating Judgment: estate failed to either allege or prove any basis under Rule 1.540 to vacate final judgment of foreclosure to which it had consented – The Bank of N.Y. Mellon v....more

Second Circuit Affirms Dismissal of Mortgage-Backed Securities New York State False Claims Act Case Against Wells Fargo

In New York ex rel. Jacobson v. Wells Fargo National Bank, N.A., 824 F.3d 308 (2d Cir. 2016), the Second Circuit affirmed the dismissal of a relator’s tax fraud-based claim against Wells Fargo under the New York False Claims...more

Your Daily Dose of Financial News

The Journal reported yesterday that more than 6,000 Wells Fargo branches were routinely tipped off to inspections by internal risk monitors, a practice that allowed the bank’s sham-account scandal to go undetected for years....more

The “New” Face of Corporate Misconduct

As we look across the corporate governance landscape and focus on the spikes of corporate scandals, I started to wonder if there was any pattern or trend to the nature of corporate scandals....more

Your Daily Dose of Financial News

Some early signs of the focus of SoftBank’s “hugely ambitious” $100 billion investment fund are beginning to emerge, and at first blush, it appears a majority of the cash will land in private and public markets rather than...more

Real Property & Title Insurance Update: Week Ending January 6, 2017

REAL PROPERTY UPDATE - Foreclosure – Involuntary Dismissal: although lender’s witnesses failed to explain lender’s loan payment history statement, the statement reflected the principal amount due and had been admitted...more

Insight from CFPB Regarding Employee Incentives in the Wake of Wells Fargo Consent Order

This past November, in the wake of the Wells Fargo debacle, the CFPB issued a Compliance Bulletin which addressed employee incentives and the consumer risks associated with them. CFPB Compliance Bulletins are non-binding...more

Your Daily Dose of Financial News

Former NJ Senator and Governor Jon Corzine has reached a $5 million settlement with regulators over the collapse of his MF Global firm, which filed bankruptcy in 2011 and lost more than $1 billion in customer investments....more

Insurable Interest Found in Life Insurance Policies Procured by Investors Through Fraudulent STOLI Scheme

The Florida Supreme Court recently held that life insurance policies procured by investors through a STOLI scheme did not violate Florida’s insurable interest statute and could not be challenged after the two-year...more

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