Please join Consumer Financial Services Partner Chris Willis and his colleagues and fellow Partners Mary Zinsner and Susan Flint as they discuss the current landscape of wire fraud scams in the financial services industry....more
On September 21 and 22, chief executives from the nation’s seven largest banks faced questioning before Congress, marking the third time senior bank officers have testified before Congress in the last three years. Senators...more
On September 8, Second Circuit ruled that lenders must return $500 million to Citibank, which had mistakenly wired the funds to them. The decision vacates a 2021 Southern District of New York ruling, which held that the...more
Banking trade groups are challenging a request for information (RFI) issued by the Consumer Financial Protection Bureau (CFPB) regarding customer service at large financial institutions. In a joint letter dated August 22, the...more
An amendment to the National Defense Authorization Act passed by the House in July would create a “systemically important entity” designation, applying new regulations and offering priority aid to certain critical...more
A recent decision out of the Northern District of Illinois should help banks defend against increasingly common claims involving fraudulent wire transfers. In Trivedi v. Bank of America, et al., the district court granted the...more
A federal district court in New Jersey recently dismissed a complaint against a bank filed by a commercial customer duped by a business email compromise incident. The case involved four wire transfers totaling $1.4 million...more
A Kentucky district court judge recently granted in part and denied in part a defendant’s motion for summary judgment in a Telephone Consumer Protection Act (TCPA) case, Barnett v. First National Bank of Omaha. The court held...more
In Cadence Bank, N.A. v. Roy J. Elizondo III, PLLC, the Supreme Court of Texas recently held that an administrative form relied upon by a victim of a fraud scam did not impose contractual obligations on a bank to verify...more
In Reddick v. Capouano, Beckman, Russell & Burnett LLC, the Court of Appeals for the Eleventh Circuit recently affirmed defendant law firm Capouano, Beckman, Russell & Burnett LLC’s (Firm) motion for summary judgment...more
In Cheatham v. Adams, a U.S. district judge in Arkansas recently granted the defendant McKendra Adams’s (Adams) motion to dismiss for lack of standing involving an alleged violation of the Fair Debt Collection Practices Act...more