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Finance & Banking Civil Procedure

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New Jersey Federal Judge Dismisses RICO suit against FDCPA Plaintiff Law Firms

by Hinshaw & Culbertson LLP on

Late last year, a debt collection agency went on the offensive and filed a RICO lawsuit against three FDCPA Plaintiff Law Firms, alleging that the Plaintiff Firms filed frivolous class action lawsuits under the FDCPA as a way...more

English Appeals Court’s Denial of Her Preliminary Injunction Motion

by Ballard Spahr LLP on

Last week, Leandra English filed a notice of appeal with the D.C. District Court. She is appealing the Court’s denial of her preliminary injunction motion through which she sought to block Mick Mulvaney from serving as the...more

Beware What You Share: Privilege Waiver Risks in Investigations

by McGuireWoods LLP on

In responding to regulatory and government investigations, firms are often faced with the question of how to balance the desire to cooperate with the need to preserve privilege over an internal investigation. Financial...more

Ninth Circuit Finds No Vicarious Liability Under the TCPA for Marketing Text Message

by Burr & Forman on

In Kristensen v. Credit Payment Services, Inc., — F.3d —, 2018 WL 343758 (9th Cir. 2018), the Ninth Circuit recently held that three lenders and two marketing companies could not be vicariously liable under the TCPA for text...more

Court dismisses defendants’ counterclaims against CFPB for fees and expenses

by Ballard Spahr LLP on

A New York federal district court dismissed the counterclaims of the defendants in a CFPB enforcement action claiming that, pursuant to the Equal Access to Justice Act (EAJA), they were entitled to fees and expenses incurred....more

Chris Lazarini Comments on Qualifiers of Control Person Liability under Exchange Act §20(a)

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini commented on a case involving alleged violations of federal and state securities laws and state common law in an alleged scheme to defraud customers and investors in several...more

Court Denies English’s Preliminary Injunction Motion; Mulvaney Continues to Exercise Acting CFPB Director Authority

by Ballard Spahr LLP on

Wednesday, U.S. District Court Judge Timothy J. Kelly denied Leandra English’s motion for a preliminary injunction in a 46-page opinion. English had sought to block President Trump’s appointment of Mick Mulvaney to serve as...more

The French Prosecutor Office Has Entered Into the First French DPA in History With HSBC Private Bank Suisse

On Nov. 14, 2017, six months after the so-called Sapin II law1 entered into force in France, the president of the Paris Tribunal de grande instance approved the first French deferred prosecution agreement (DPA or CJIP...more

Based on Principles of Fairness, Court Dismisses Putative Class Action RICO Claims Asserted Years After Initiation of Suit

by Carlton Fields on

In Robertson v. SunLife Financial, a federal district court in Louisiana dismissed with prejudice as time-barred an amended putative class action complaint alleging RICO and state racketeering claims related to alleged...more

Third Time Is the Charm: Class Certified in DMF-Related Shareholder Suit

by Carlton Fields on

In City of Westland Police & Fire Retirement System v. MetLife, the plaintiffs allege that the insurer overstated its earnings because it did not hold sufficient reserves for death benefit claims on group life insurance...more

The Continuing Representation Doctrine Does Not Apply to Fraud Allegations

by Carlton Fields on

In Messmer v. KDK Fin. Serv. Inc., an individual action involving alleged fraud in connection with the sale and surrender of deferred annuities to a senior, the Indiana Court of Appeals refused to extend the doctrine of...more

Collection of ITT student debt barred in class action settlement

by Ballard Spahr LLP on

The saga of ITT Educational Services, Inc. appears to be drawing closer to an end, with ITT’s bankruptcy trustee and attorneys for former ITT students entering into a proposed class action settlement that would permanently...more

Debt Collection Letter's Inclusion Of Court Costs Was Not Deceptive

Any opinion that starts out by stating “[t]his case is about $82.00” is not likely to go well for one party and in this instance, that was the case for Nestor Saroza....more

Freedom To Surcharge—Ninth Circuit Rules Businesses Can Charge Card Fees

by Seyfarth Shaw LLP on

Seyfarth Synopsis: Ninth Circuit upholds district court decision granting five businesses injunctive relief, finding that state law banning credit card surcharges is unconstitutional as applied to the five businesses. ...more

Department of Justice: Massachusetts’s Claims Against PHEAA Preempted By Federal Law

by Ballard Spahr LLP on

On Monday, January 8, 2018, the United States Department of Justice weighed in with a Statement of Interest under 28 U.S.C. § 517 in a pending state-court action (No. 1784CV02682) brought by the Commonwealth of Massachusetts...more

The Top 10 Class-Action-Related Developments of 2017

by BakerHostetler on

2017 was a relatively quiet year for major class action news, especially in the Supreme Court, which addressed only a handful of cases that might have an impact on class actions and reached decisions only in a couple of those...more

Financial Litigation Roundup: Key Federal Rulings in 2017

In case you missed it, here is our list of the most significant financial services rulings in 2017 from the Supreme Court of the United States and major federal appellate courts. While there were no decisions of overwhelming...more

Chapter 15: U.S. Creditor Required to Seek Recovery in Foreign Main Proceeding

In this post, we return to cross-border insolvencies and examine one of the first decisions issued in 2018 by a bankruptcy court in a chapter 15 case: In re Energy Coal S.P.A., No. 15-12048 (LSS), 2018 Bankr. LEXIS 10 (Bankr....more

Patenting the Blockchain

Last year’s spike in the valuation of bitcoin has much of the technology world focused on blockchain, the distributed database ledger technology behind bitcoin and many other cryptocurrencies. Lost behind the scenes,...more

Whistleblower Risks at the Supreme Court

by NAVEX Global on

Later this year, the Supreme Court will rule on whether whistleblower protections under the Dodd-Frank Act apply only to people who report misconduct to the Securities and Exchange Commission (SEC). That is, people who report...more

Ninth Circuit Rules California "No Credit Card Surcharge" Law Violates First Amendment

by Ballard Spahr LLP on

A California law that prohibits merchants from imposing a surcharge on credit card purchases violates the First Amendment of the U.S. Constitution, a unanimous panel of the U.S. Court of Appeals for the Ninth Circuit has...more

Credit Union Files Reply Brief in SDNY Case Challenging Mulvaney’s Appointment

by Ballard Spahr LLP on

On December 29, 2017, the Lower East Side People’s Credit Union (“People’s”) filed a reply brief in support of its preliminary injunction motion in which it seeks to block the appointment of Mick Mulvaney as the Acting CFPB...more

FCRA Ruling Rejects Argument that Foreclosure and Acceleration of Mortgage Loan Rendered Reports of Monthly Delinquencies...

by Ballard Spahr LLP on

Fair Credit Reporting Act (FCRA) litigation has increased in 2017 and shows little sign of slowing. While a plaintiff’s actual damages may be minimal, the statute’s award of reasonable attorney’s fees and costs for a...more

Dispute Evolution: A bona fide dispute regarding claim amount may disqualify creditor from maintaining an involuntary case.

Section 303(b)(1) of the Bankruptcy Code generally requires three petitioning creditors to join an involuntary petition, each of which must hold claims against the debtor that are not contingent as to liability and are not...more

Food for Thought, part 8

Below, a continuation of our bibliography of thought-provoking articles on issues related to right-sizing regulation, staying private versus going public, and related topics...more

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