News & Analysis as of

Class Action › BSA/AML

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Goodwin

House Votes to Repeal OCC True Lender Rule

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In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2020

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Federal Court Dismisses Class Action Claims Against PPP Lenders for Agent Fees - A federal court in Florida has dismissed claims made in a class action lawsuit against several banks and other Small Business Administration...more

Ballard Spahr LLP

Tenth Circuit Rejects Shareholders’ Fraud Claims Against Western Union Based on Alleged AML Failings

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On February 25, 2020, the Tenth Circuit Court of Appeals upheld the dismissal of shareholders’ securities-fraud class action against the Western Union Company (“Western Union”) and several of its current and former executive...more

Ballard Spahr LLP

And Here Come the Lawyers: Securities Fraud Suits Commence Private Litigation Phase of Danske Bank Scandal

Ballard Spahr LLP on

More Allegations of Nordic Malfeasance Surface as Private Party Lawsuits Beset Danske Bank and SwedBank Gets Sucked into Unfolding Scandal....more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Notwithstanding Lloyd’s assurances that the rumors of his demise are premature, Goldman has cleared the path forward for David Solomon (aka, one of its current co-Presidents, aka, DJ D-Sol) to assume the CEO position when Mr....more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - October 2017

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McAfee Report Lists Health Care Sector as Most Targeted Industry for Cyber-Attacks - In its cybersecurity incident report outlining vulnerabilities for the second quarter of 2017, security firm McAfee lists the health care...more

Ballard Spahr LLP

Yet Another Lawsuit Alleging Securities Laws Violations – and Individual Liability – Due to AML/BSA Failures

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Financial institutions face an increasing risk that alleged violations of the Bank Secrecy Act (“BSA”) and Anti-Money Laundering (“AML”) requirements will lead to follow-on allegations of securities law violations. We have...more

Ballard Spahr LLP

Investor Suits Follow in the Wake of Western Union Settlement of Money Laundering and Fraud Claims

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On January 19, 2017, the Western Union Company (“Western Union” or the “Company”) entered into a deferred prosecution agreement (“DPA”) with the Department of Justice (“DOJ”), in which Western Union admitted to willful...more

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