In the span of two days, mobile device users learned of two data breaches that could compromise their personal data. In one, Experian (a credit reporting agency) reported that it was hacked, potentially putting 15 million...more
10/19/2015
/ Android ,
AT&T ,
Banking Sector ,
Banks ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Entities ,
Credit Reporting Agencies ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Department of Health and Human Services (HHS) ,
Derivative Suit ,
Enforcement Actions ,
EU ,
Experian ,
FBI ,
FCC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
FTC v Wyndham ,
Google ,
Hackers ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
Mobile Device Management ,
Mobile Devices ,
Personal Data ,
Personally Identifiable Information ,
Popular ,
Privacy Concerns ,
Privacy Laws ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Shareholder Litigation ,
T-Mobile ,
Telecommunications ,
Verizon ,
Wyndham
Join us for an in-depth webinar presented by litigation attorneys James Ward and Phil Stein on the trending topic of information security and how to protect your company from a data breach. This webinar will address what you...more
Every business would love to find a fortune teller to give it insight into what trends to follow, which risks to take, and when “exposure” will convert to liability. Some clients might say that, unfortunately, their lawyers...more
9/30/2015
/ Anthem Blue Cross ,
Ashley Madison ,
Cyber Attacks ,
Cyber Crimes ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Hackers ,
Internet of Things ,
Neiman Marcus ,
Personally Identifiable Information ,
Target
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
Many big cities in the United States responded to the fallout from the 2008 financial crisis by passing local laws which pressure banks to invest more in low-income neighborhoods. Between 2010 and 2013, cities such as New...more
9/28/2015
/ Affordable Housing ,
Bank of America ,
Banking Sector ,
Banks ,
Citibank ,
Community Reinvestment Act ,
CRA ,
Data Collection ,
Financial Institutions ,
Financial Regulatory Reform ,
Foreclosure ,
JPMorgan Chase ,
Mortgages ,
Residential Real Estate Market
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
Every business would love to find a fortune teller to give it insight into what trends to follow, which risks to take, and when “exposure” will convert to liability. Some clients might say that, unfortunately, their lawyers...more
9/1/2015
/ Anthem Blue Cross ,
Ashley Madison ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Cybersecurity Framework ,
Data Privacy ,
Data Protection ,
Data Security ,
Hackers ,
Internet of Things ,
Neiman Marcus ,
PF Chang's ,
Target
A federal appeals court has revived a lawsuit accusing MasterCard, Visa and three major banks of illegally fixing ATM prices to the detriment of consumers. A federal district judge had thrown out the lawsuit in 2013 after...more
8/19/2015
/ American Express ,
Anti-Competitive ,
Anti-Steering Rules ,
ATMs ,
Bank of America ,
Banking Sector ,
Banks ,
Debit Cards ,
Department of Justice (DOJ) ,
Financial Institutions ,
JPMorgan Chase ,
MasterCard ,
Payment Processors ,
Transaction Fees ,
Visa Inc ,
Wells Fargo
Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more
8/11/2015
/ Banking Sector ,
Banks ,
Borrowers ,
Construction Industry ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Financial Institutions ,
Home Buyer ,
HUD ,
Kickbacks ,
Lenders ,
Loans ,
Mortgage Servicers ,
Mortgages ,
Real Estate Brokers ,
Real Estate Market ,
Regulatory Oversight ,
RESPA ,
Wells Fargo
In the aftermath of the financial crisis, Fannie Mae and Freddie Mac aggressively demanded Wall Street and big bank aggregators (“aggregators”) repurchase millions of defaulted and distressed loans, due to purported breaches...more
6/12/2015
/ Banking Crisis ,
Banking Sector ,
Citibank ,
Fannie Mae ,
Freddie Mac ,
GSE ,
Mortgage Lenders ,
Mortgage Loan Aggregators ,
Mortgage Loan Originators ,
Mortgages ,
Repurchases ,
Settlement Agreements
Evidence is mounting that the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) are taking a renewed interest in investigating possible redlining—the practice of lenders charging certain groups...more
Quicken Loans, the nation’s largest Federal Housing Administration (FHA)-backed mortgage lender, filed suit on Friday, April 17 in the United States District Court in Detroit against the United States Department of Justice...more
Bank of America recently moved to dismiss a lawsuit filed by Ambac Assurance Corp. in New York state court, alleging $600 million in damages for fraudulent inducement in connection with payments it made under policies...more
Homebuilders and developers may want to consider availing themselves of opportunities arising through public-private partnerships (P3s). The Obama administration has recently proposed several creative approaches to P3s. Those...more
BofA’s “hustling” attempt to overturn a $1.27 billion judgment against it and Countrywide—along with the individual defendant identified in the next paragraph, the “Defendants”—in the U.S. District Court for the Southern...more
Watch an in-depth Homebuilder Series webinar that discusses auditor liability and fiduciary duties.
Two issues of recurring interest to company officers and directors are the potential liabilities of outside...more
2015 is leaving Standard and Poor’s (S&P) quite a bit poorer. Yesterday, the major credit rating agency agreed to pay $1.375 billion to resolve lawsuits brought against it by the U.S. Department of Justice and attorney...more
The U.S. Supreme Court recently held in Jesinoski v. Countrywide Home Loans, Inc. that borrowers exercising their right to rescind mortgages under the Truth in Lending Act (“TILA”) only need to provide written notice to...more
An increasing number of banks, mortgage lenders, auto finance companies and other financial services industry participants are dealing with inquiries, investigations and actual or threatened legal claims from the Consumer...more
Earlier this month, the Federal Housing Finance Agency (“FHFA”) ordered Fannie Mae and Freddie Mac to begin making contributions to the Housing Trust Fund (“HTF”) and the Capital Magnet Fund (“CMF”). The HTF is a formula...more
Matt Taibbi of Rolling Stone recently profiled the woman JPMorgan Chase paid one of the largest fines in American history to keep from talking in his article, The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare....more
Are homebuilders as vigilant as they should be in protecting their intellectual property rights — including the copyrights that qualifying architectural drawings and structures receive automatically as a matter of law, even...more
The U.S. Supreme Court will hear two cases brought by Bank of America regarding whether a second mortgage on an underwater property can be voided during Chapter 7 bankruptcy. Both cases involve Florida homeowners who sued to...more
Federal bank regulatory agencies are significantly increasing their scrutiny of Wall Street bank lending, moving from annual reviews to a system of monthly audits in a major effort to curtail aggressive underwriting...more
Watch an in-depth webinar presented by Litigation Partner Philip R. Stein, about the Consumer Financial Protection Bureau's attempts to expand its jurisdiction and authority over consumer finance companies and financial...more