By any measure, the world has changed vastly since we issued our first Commercial Litigation Outlook in 2020. We are now on our fourth installment of providing insights and flagging trends for what to expect in the coming...more
2/16/2024
/ Arbitration ,
Artificial Intelligence ,
Banks ,
Class Action ,
Commercial Bankruptcy ,
Commercial Court ,
Commercial Litigation ,
Consumer Financial Protection Bureau (CFPB) ,
Copyright ,
Department of Justice (DOJ) ,
Environmental Social & Governance (ESG) ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Intellectual Property Protection ,
Machine Learning ,
Merger Agreements ,
Patents ,
Trademarks
When Signature Bank and Silicon Valley Bank were placed in receivership, the Federal Deposit Insurance Corporation (FDIC) transferred their respective assets to “bridge depository institutions” a/k/a “bridge banks.” The...more
On April 3, 2023, the CFPB published a new official statement of policy on the authority that Congress passed in the Consumer Financial Protection Act of 2010 (“CFPA”), codified at 12 U.S.C. § 5536(a)(1)(B), banning “abusive...more
On March 12, 2023, Signature Bank, New York, NY (SB) was closed by the New York State Department of Financial Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. “[T]he FDIC transferred all...more
The FDIC has statutory obligations to maximize the net present value return from the sale or disposition of the assets entrusted to it as receiver, and to minimize the amount of any loss realized.[1] Today we examine the...more
Bank Asset Auction: Bids for Silicon Valley Bridge Bank, N.A. (“SVB”) and its subsidiary Silicon Valley Private Bank, together or separately, in whole or in part, are due by Wednesday, March 22, 2023 at 8 p.m. and Friday,...more
The FDIC has announced the proof of claim deadlines for proofs of claim to be filed with the FDIC as receiver of the failed banks, Silicon Valley Bank (“SVB”) and Signature Bank. The deadline to file a proof of claim against...more
Seyfarth has received a large number of client inquiries on the Federal Deposit Insurance Corporation’s (“FDIC”) appointment as receiver of Silicon Valley Bank, Santa Clara, California (“SVB”). SVB was closed by the...more
Welcome to the third annual installment of Seyfarth Shaw’s Commercial Litigation Outlook, where our nationally recognized team provides insights about litigation issues and trends to expect in 2023. The continuing global...more
Following its recent “initiative” and request for information to reduce “exploitative junk fees,” the Consumer Financial Protection Bureau (“CFPB”) has on June 29, 2022 released an advisory opinion. The opinion concludes that...more
Medical service providers who engage in medical billing, debt collection, and credit reporting are the focus of new regulations and regulatory enforcement efforts. Civil litigation is sure to follow. Under the direction of...more
Welcome to the second annual installment of Seyfarth Shaw’s Commercial Litigation Outlook. Our nationally recognized team provides keen insights about what to expect in 2022. In short, it will be a busy year that will call...more
3/15/2022
/ Class Action ,
Commercial Bankruptcy ,
Commercial Court ,
Commercial Litigation ,
Cybersecurity ,
Data Privacy ,
Department of Justice (DOJ) ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FinTech
A mere three weeks after the application to vacate stay was filed, the United States Supreme Court has effectively ended the year-long row over the lawfulness of the federal Centers for Disease Control’s nationwide eviction...more
As the nation emerges from the pandemic, clients face the double-whammy of delayed resolution of existing disputes (thanks to court shutdowns) and increased litigation activity across the board. The third quarter of 2020 saw...more
4/2/2021
/ Biometric Information ,
Biometric Information Privacy Act ,
Business Interruption ,
Commercial Bankruptcy ,
Commercial Litigation ,
Commercial Tenants ,
Coronavirus/COVID-19 ,
Data Privacy ,
Insurance Litigation ,
Landlords ,
Paycheck Protection Program (PPP) ,
Uniform Commercial Code (UCC)
On March 28, three days before its scheduled expiration date, the Centers for Disease Control and Prevention (“CDC”) extended its nationwide eviction moratorium order (“CDC Moratorium”) through June 30, 2021.[1] The CDC took...more
The Consumer Financial Protection Bureau (CFPB or Bureau) announced on March 11, 2021 that it is rescinding its January 24, 2020 policy statement, “Statement of Policy Regarding Prohibition on Abusive Acts or Practices” (2020...more
A second federal district court has declared the Centers for Disease Control and Prevention’s (“CDC”) eviction moratorium (“CDC Moratorium”) invalid. On March 10, 2021, Judge J. Philip Calabrese of the Northern District of...more
The inauguration of President Biden on January 20, 2021, and the launch of a new executive administration, brought with it further extensions of the federal moratoria on conducting foreclosures of single-family residential...more
Just two weeks before the inauguration of President-elect Biden, and the launch of a new executive administration, the Consumer Financial Protection Bureau (CFPB or Bureau) Taskforce on Federal Consumer Financial Law...more
On December 7, 2020, the Consumer Financial Protection Bureau (CFPB) along with attorneys general from all 50 states and the District of Columbia and bank regulators from 53 jurisdictions covering 48 states and Puerto Rico,...more
12/10/2020
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Services Industry ,
Homeowners Protection Act ,
Mortgage Servicers ,
Mortgages ,
Nationstar ,
Non-Bank Lenders ,
RESPA ,
Settlement Agreements ,
Statutory Violations ,
Unfair or Deceptive Trade Practices
We previously reported that on April 20, 2020, the Commonwealth of Massachusetts enacted emergency legislation imposing moratoriums on certain evictions and foreclosures of primarily residential properties and some commercial...more
We previously reported that on April 20, 2020, the Commonwealth of Massachusetts enacted emergency legislation imposing moratoriums on certain evictions and foreclosures of primarily residential properties and some commercial...more
More than a month after Governor Charlie Baker declared a state of emergency arising from the novel coronavirus in the Commonwealth of Massachusetts on March 10, 2020, the “COVID-19 Emergency Declaration,” the state...more
4/21/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Enforcement Actions ,
Eviction ,
Forbearance Agreements ,
Foreclosure ,
Governor Baker ,
Lenders ,
Moratorium ,
Mortgage Servicers ,
Policy Updates ,
Public Health Emergency ,
Relief Measures ,
State of Emergency ,
Tenants
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was signed into law. Among other things, the CARES Act allows residential mortgage borrowers with federally-backed loans to obtain a...more
On Friday, March 27, 2020, Massachusetts Attorney General Maura Healey promulgated an unprecedented regulation severely restricting and limiting the collection of debts from Massachusetts consumers during the COVID-19 state...more
3/31/2020