Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
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An anonymous thinker, lost to history, is credited with having said that the unofficial motto of the IRS is, “We have what it takes to take what you have.” In some instances, the truth of the above statement is manifested in...more
In In re Estate of Debra E. Hunt v. Arabia Vargas, a trial court granted summary judgment interpreting a will to devise a large share of the testatrix’s personal property to her life partner. No. 01-19-00216-CV, 2020 Tex....more
Does a creditor who obtains a judgment against a debtor in Florida and then records that judgment in Maryland have a single judgment that it can enforce in Florida and Maryland or a Florida judgment and a separate Maryland...more
Often an aging parent will add an adult child to the parent’s account as a joint holder to assist with asset management or bill payment. However, this may lead to an unintended result in California when the parent dies. The...more
Many states, including Maryland and Pennsylvania, recognize the common law form of ownership of property as “tenants by the entireties” for both real and personal property, including bank accounts. Under that form of...more
In Compass Bank v. Calleja-Ahedo, an identity thief drained the plaintiff’s bank account through a series of fraudulent transactions in 2012 and 2013, and the plaintiff sued his bank to recover the stolen funds. No. 17-0065,...more
In Fletcher v. Whitaker, a brother withdrew $25,000 from a joint bank account while the owner of the funds (decedent) was still alive. No. 02-17-00138-CV, 2018 Tex. App. LEXIS 8329 (Tex. App.—Fort Worth October 11, 2018, no...more
Trustees in California trust disputes should not overlook the power of the constructive trust remedy as a way to recover errant trust assets. That’s a takeaway from Higgins v. Higgins (2017) __ Cal.App.5th __, an opinion in a...more
In the past, a foreign bank’s use of correspondent bank accounts in the United States to facilitate wire transfers has not necessarily given New York courts a sufficient basis for jurisdiction over the bank. But a recent 4-3...more
The coverage landscape for “Business E-mail Compromise” (BEC) scams remains somewhat tenuous, as organizations and carriers continue to battle in court over the extent of coverage. Although recent positive,...more
The D.C. Circuit Court of Appeals reversed a district court decision dismissing a bank’s challenge to the constitutionality of the CFPB based on lack of standing. The district court had previously concluded that compliance...more
The United States Court of Appeals for the Third Circuit reversed the denial of class certification in a case brought against a bank and its payment processors that allegedly engaged in a fraudulent scheme to cause...more