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Finance & Banking Constitutional Law

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Texas Finance and Credit Union Commissions Adopt Interpretation Amendments to Implement Changes to Home Equity Loan Provisions

by Weiner Brodsky Kider PC on

The Finance Commission of Texas and the Texas Credit Union Commission recently adopted amended regulations to implement changes to the home equity loan provisions of the Texas Constitution. As we previously reported, the...more

Ninth Circuit Court of Appeals Rejects Constitutional Challenge to AML Compliance Program Regulation

by Ballard Spahr LLP on

The Ninth Circuit Court of Appeals recently upheld the decision of the Board of Directors of the Federal Deposit Insurance Corporation (“FDIC”) to issue a cease and desist order against California Pacific Bank (the “Bank”)...more

9th Circuit Affirms Dismissal of FCRA Putative Class Action for Lack of Standing

by Weiner Brodsky Kider PC on

The Ninth Circuit has ruled that a plaintiff failed to allege a concrete injury-in-fact sufficient for Article III standing in a suit alleging a violation of the Fair Credit Report Act (FCRA). The panel affirmed the district...more

Branch v. GEICO: The Convergence Of Class Certification And Article III Standing

by Seyfarth Shaw LLP on

On January 10, 2018, the U.S. District Court for the Eastern District of Virginia denied Plaintiff Tiffanie Branch’s renewed motion for class certification in Branch v. Government Employees Insurance Company, No....more

Sixth Circuit Holds Consumer Has No Standing to Bring FDCPA Claim

The Sixth Circuit recently made clear its position that “Congress cannot override the baseline requirement[s] of Article III of the U.S. Constitution by labeling the violation of any requirements of a statute a cognizable...more

PA Treasurer Opens Inquiry into Lending Disparities at Financial Institutions

by Weiner Brodsky Kider PC on

Pennsylvania Treasurer, Joe Torsella, recently announced that his office has opened an official inquiry into three financial institutions regarding alleged racial and ethnic disparities in home mortgage approval rates and...more

Appellate Court Joins Growing Chorus Finding That Procedural FACTA Violations on Their Own Are Insufficient for Standing

by Fenwick & West LLP on

In keeping with its recent decision in Bassett v. ABM Parking Services, the U.S. Court of Appeals for the Ninth Circuit held in Noble v. Nevada Checker Cab (March 9, 2018) that alleged procedural violations of the Fair and...more

Applying Spokeo, 6th Circuit Dismisses FDCPA Suit

by Goodwin on

On February 16, 2018, the 6th Circuit, in Hagy v. Demers & Adams (882 F.3d 616 (6th Cir. Feb. 16, 2018)), found that a former borrower did not have standing to assert a claim under the Fair Debt Collection Practices Act...more

6th Circuit Says No Standing for FDCPA Claim under Spokeo

by Weiner Brodsky Kider PC on

The Sixth Circuit Court of Appeals recently held that two plaintiffs did not have standing to pursue their FDCPA claim for failure to make a required disclosure where the non-disclosure did not hurt the plaintiffs. The Sixth...more

RESPA and UDAAP Enforcement Following The PHH Decision: What To Expect

by Foley & Lardner LLP on

As anyone who is associated with the residential real estate settlement services industry can appreciate, resolution of the PHH case by the full bench of the D.C. Circuit Court of Appeals has brought much-needed clarity and...more

Speaking on Spokeo: Ninth Circuit Dismisses FACTA Lawsuit

by Latham & Watkins LLP on

The Ninth Circuit follows the Second and Seventh Circuits in dismissing consumer class actions in which named plaintiff alleges no injury other than statutory damages. Key Points: ..In Bassett v. ABM Parking Services,...more

Author Wagers Prize Linked Savings Accounts Are Not Lotteries

by Allen Matkins on

Recently, I wrote about Senator Josh Newman attempt to legalize prize linked savings accounts in California. Senator Newman's bill, SB 1055, would allow a bank or credit union to offer prizes if, among other things...more

Employment Law This Week®: Title VII & Sexual Orientation Discrimination, Joint-Employer Test, Dodd-Frank Protections, Equal Pay...

by Epstein Becker & Green on

We invite you to view Employment Law This Week® - a weekly rundown of the latest news in the field, brought to you by Epstein Becker Green. We look at the latest trends, important court decisions, and new developments that...more

Privacy & Cybersecurity Update - February 2018

In this month's edition of our Privacy & Cybersecurity Update, we examine the Identity Theft Research Center's findings on data breaches in 2017, the U.S. Supreme Court's denial of certiorari that leaves in place the circuit...more

Real Property & Financial Services Update: Week Ending February 16 & 23, 2018

by Carlton Fields on

REAL PROPERTY UPDATE - Breach of Contract/Damages: court erred by precluding setoff when calculating damages because purpose of award is to restore the injured party to the position it would have realized no for the other...more

Groundwork Grows for Defendants Challenging FACTA Complaints Lacking Actual Injury Allegations

by Fenwick & West LLP on

The U.S. Court of Appeals for the Ninth Circuit joined a growing number of circuit courts of appeal to hold that alleged procedural violations of the Fair and Accurate Credit Transactions Act, such as the inclusion of a...more

Housing group announces settlement of FHA lawsuit alleging insurance-related discrimination

by Ballard Spahr LLP on

The National Fair Housing Alliance (NFHA) has announced a settlement in its lawsuit against Travelers Indemnity Company in which it alleged that Travelers engaged in discriminatory conduct in violation of the Fair Housing Act...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

It’s a bit more overtly political than business-oriented, but given China’s economic might, we felt it worth noting that China’s Communist Party has cleared the way for President Xi Jinping to “stay in power indefinitely” by...more

Third Circuit Analyzes Standing for ERISA Plan Management Claims

A recent Third Circuit decision reinforced the need for ERISA plaintiffs to plead injury-in-fact to establish Article III standing. In Krauter v. Siemens Corp., No. 17-1662, 2018 WL 921542 (3d Cir. Feb. 16, 2018), the...more

Church Provides No Sanctuary: Sixth Circuit’s FDCPA Decision May Breathe New Life into TCPA Spokeo Arguments

by Dorsey & Whitney LLP on

A number of Circuit Courts of Appeal have addressed Spokeo challenges to consumer protection statutes in the 646 days (and counting) since the U.S. Supreme Court handed down Spokeo, Inc. v. Robins, ––– U.S. ––––, 136 S. Ct....more

Court Dismisses Credit Union’s Challenge to Mulvaney’s Appointment

by Weiner Brodsky Kider PC on

A federal court has dismissed a lawsuit filed by a New York credit union that challenged the President’s appointment of Mick Mulvaney as the Acting Director of the CFPB. The credit union had sought a declaratory judgment...more

Court Agrees, Agencies Overstepped Their Authority. What’s Next for CLO Managers?

by White & Case LLP on

Recent Developments in the Application of US Risk Retention to CLOs - On February 9, 2018, the United States Court of Appeals for the District of Columbia Circuit (the "DC Circuit Court") issued an opinion addressing...more

Spokeo IV: Cert Denied and the Circuit Splits Left Behind

by Bryan Cave on

On January 22, 2018, the United States Supreme Court denied a petition for writ of certiorari in Spokeo v. Robins – bringing an end to an appellate saga that started in the Ninth Circuit Court of Appeals before heading up to...more

D.C. Circuit Rules CFPB's View of RESPA Was Wrong but Its Structure is Constitutional

by Ballard Spahr LLP on

On January 31, 2018, the en banc D.C. Circuit handed down its opinion in the PHH v. CFPB case, which we've discussed at length. It held, 7 to 3, that the CFPB's single-director-removable-only-for-cause structure is...more

Mere Statutory FACTA Violations Are Not Enough to Establish Article III Standing

by King & Spalding on

On February 2, 2018, the United States District Court for the Northern District of Alabama dismissed a Fair and Accurate Credit Transaction Act (“FACTA”) lawsuit because, among other things, the plaintiff failed to allege a...more

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