Cryptocurrency companies face a steadily growing number of lawsuits, adding to a list of recent headaches for their industry. That list includes steep recent declines in investment value and a high probability of new...more
8/12/2022
/ Class Action ,
Class Certification ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Financial Markets ,
Financial Services Industry ,
Financial Transactions ,
Fraud ,
Investment Products ,
Popular ,
Regulatory Standards ,
Securities Act ,
Securities Violations ,
Token Sales ,
Unregistered Securities ,
Virtual Currency
Two major U.S. financial institutions, Morgan Stanley and Capital One, recently agreed to resolve separate class action lawsuits by paying, in the aggregate, hundreds of millions of dollars in compensation for massive data...more
1/7/2022
/ Capital One ,
Civil Monetary Penalty ,
Class Action ,
Cloud Computing ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Enforcement Actions ,
Financial Services Industry ,
Hackers ,
Identity Theft ,
Information Technology ,
Morgan Stanley ,
Personal Data ,
Settlement Agreements
United Wholesale Mortgage (UWM), the nation’s largest wholesale mortgage lender, announced on March 4, 2021, that it would no longer do business with mortgage brokers who also worked with Rocket Mortgage (the online loan...more
5/6/2021
/ Anti-Competitive ,
Anti-Steering Rules ,
Antitrust Violations ,
Class Action ,
Competition ,
Consumer Financial Products ,
Financial Services Industry ,
Monopolization ,
Mortgage Lenders ,
Mortgages ,
Quicken Loans ,
Restraint of Trade ,
Sherman Act ,
Unfair or Deceptive Trade Practices ,
Wholesale
On March 30, the Supreme Court of the United States will hear oral arguments in TransUnion LLC v. Ramirez. This case marks the first time the Court will address the residual question in Spokeo, Inc. v. Robins — what about...more
3/3/2021
/ Article III ,
Class Action ,
Class Members ,
Corporate Counsel ,
Credit Reporting Agencies ,
Credit Reports ,
Fair Credit Reporting Act (FCRA) ,
Injury-in-Fact ,
Standing ,
TransUnion ,
TransUnion LLC v Ramirez
COVID-19 class actions continue to increase and are expected to spread to additional areas of law. Higher education has been one of the prime subjects of class actions thus far. To date, over 250 class action lawsuits have...more
2/10/2021
/ Article III ,
Breach of Contract ,
Class Action ,
Coronavirus/COVID-19 ,
Educational Institutions ,
Infectious Diseases ,
Refunds ,
Standing ,
Tuition ,
Universities ,
Unjust Enrichment
A proposed class action filed in federal court in California on April 20 demands refunds for all fans who purchased tickets to Major League Baseball (MLB) games that have been postponed indefinitely due to the coronavirus...more
Lawyers or business people who feel they have been hearing about a lot more consumer protection class actions lately have good reason for that feeling. A recent report by Lex Machina, part of LexisNexis, highlights an...more
2/20/2020
/ Class Action ,
Consumer Protection Laws ,
Data Breach ,
Data Privacy ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Financial Services Industry ,
Litigation Strategies ,
Personally Identifiable Information ,
Putative Class Actions ,
TCPA ,
Text Messages
On November 1, President Trump formally did away with a Consumer Financial Protection Bureau (CFPB) arbitration rule that would have given consumers the opportunity to file class actions against banks and other companies in...more
11/3/2017
/ Arbitration ,
Arbitration Agreements ,
Banking Sector ,
Class Action ,
Class Action Arbitration Waivers ,
Congressional Review Act ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Dodd-Frank ,
Federal Arbitration Act ,
Financial Services Industry ,
Richard Cordray ,
Trump Administration
After the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 authorized its creation, the Consumer Financial Protection Bureau (CFPB) began operating on July 21, 2011. In the more than five years since it...more
8/23/2016
/ Arbitration ,
Arbitration Agreements ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Financial Institutions ,
Financial Services Industry ,
Mandatory Arbitration Clauses
The U.S. Supreme Court held Monday that the Ninth Circuit erred when it ruled consumers can sue companies without alleging actual injury. The Supreme Court ruled that a consumer could not sue Spokeo Inc. for mere technical...more
Attorneys for certain banks and other financial institutions that are caught up in Target’s 2013 data breach are objecting to the $67 million deal struck last week between the retailer and Visa Inc. The banks and credit...more
9/28/2015
/ Banking Sector ,
Banks ,
Class Action ,
Class Certification ,
Credit Unions ,
Cyber Attacks ,
Cyber Crimes ,
Data Breach ,
Debit and Credit Card Transactions ,
Financial Institutions ,
Fraudulent Charges ,
Hackers ,
MasterCard ,
Personally Identifiable Information ,
Popular ,
Target ,
Visa Inc
The Ashley Madison saga has captured the attention of the public and legal profession like few prior data security breaches. The reasons are obvious: A website devoted to promoting infidelity is called out for “fraud, deceit,...more
9/4/2015
/ Adultery ,
Ashley Madison ,
Class Action ,
Class Certification ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Hackers ,
Marriage ,
Mass Tort Litigation ,
Personally Identifiable Information ,
Popular ,
Reasonable Expectation of Privacy ,
Spouses ,
Target ,
Website Owner Liability ,
Websites
A former goliath of the non-prime lending market, Aurora Loan Services, LLC (“ALS”), recently resolved a class-action lawsuit alleging that it fraudulently induced distressed California borrowers to enter into purported...more
With the Occupational Safety and Health Administration (OSHA) signaling its increased attention to workers' exposure to crystalline silica, and the plaintiffs' bar evidently in search of new subjects for "toxic tort" claims,...more
12/12/2013
/ Class Action ,
Construction Workers ,
Contractors ,
Hazardous Substances ,
Land Developers ,
Multidistrict Litigation ,
OSHA ,
Safety Precautions ,
Silica ,
Subcontractors ,
Toxic Exposure
Bank of America has agreed to settle a class-action lawsuit brought by investors who claimed they were misled by its Countrywide unit into buying risky mortgage securities. Bank of America acquired Countrywide Financial, a...more