Compliance into the Weeds: the JPMorgan Fine and Penalty
Day 3 of One Month to Better Compliance Through HR-JPMorgan Chase FCPA Enforcement Action
FCPA Compliance and Ethics Report-Episode 21 Update on Current Enforcement Actions, Investigations and Settlement Negotiations
Bill on Bankruptcy: Supreme Court Cases Will Have Wide Impact
On January 24, 2020, the Seventh Circuit Court of Appeals became the second federal appellate court to address whether notice of a collective action under the Fair Labor Standards Act (FLSA) may be sent to individuals who...more
Seyfarth Synopsis: An appellate court has ruled that a district court should not authorize notice of an FLSA suit to employees who are ineligible to join the suit because they agreed to resolve disputes exclusively through...more
Bloomberg is reporting that Walgreens Boots is weighing a potential deal “to take the company private in what could become the largest leveraged buyout in history.” PE firms like KKR are apparently in the mix to assist in the...more
In 2005 and 2006, Christopher Blake and James Orkis took out mortgages from JP Morgan to buy homes. Then in 2013, they filed a class action against JP Morgan under the Real Estate Settlement and Procedures Act (RESPA),...more
Uber went big on Thursday. Unfortunately, for everyone (including fans of cinnamon gum and oversized gingers) it was Big Red, as the ride-hailing company posted a $5.2 billion loss for Q2—its largest ever since it began...more
In May, JPMorgan Chase entered into a class action settlement regarding allegations that it treated male employees differently than female employees under the company’s parental leave program. On its face, the terms of the...more
The Fifth Circuit recently became the first federal court of appeals to hold that employees who signed arbitration agreements should not receive notice of collective actions. This case of first impression among the courts of...more
JPMorgan Chase recently announced that it reached a tentative settlement in a class action suit by male employees who claim they were denied equal parental leave to bond with newborns. ...more
Last month, the Eleventh Circuit affirmed the dismissal of a putative class action suit alleging violations of the Fair Credit Reporting Act thereby delivering an important victory to lenders and other entities that provide...more
Seyfarth Synopsis: In a must-read decision and case of first impression at the federal appellate level, the Fifth Circuit Court of Appeals held late last week that a district court may not approve sending notice of an FLSA...more
Early reports suggested that although Teresa May’s cabinet wasn’t thrilled, it backed the PM’s Brexit plan, leaving the controversial deal to make its way to Parliament. But the resignation of two Cabinet members—including...more
Honda is joining forces with General Motors in an effort to win the race to develop self-driving cars through a $750 million stake in GM’s Cruise Holdings autonomous vehicle unit. The Japanese carmaker plans to contribute a...more
The FBI and OCC have each launched inquiries into pricing practices within American Express’s forex unit with an aim to determine “whether the foreign-exchange international payments department misrepresented pricing to...more
A federal district court has dismissed with prejudice a Real Estate Settlement Procedures Act (RESPA) class action filed against JPMorgan Chase Bank N.A. and related entities on statute of limitations grounds a year after...more
The US House included the revised Volcker Rule that we’ve discussed in a broader package of Dodd-Frank reforms that it passed with bipartisan support last night. The bill—ostensibly aimed at easing restrictions on small to...more
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
Analysis of the Fed’s January meeting minutes shows Fed officials suggesting that robust economic growth has created the right conditions for higher interest rates....more
Even as JPMorgan has set the playing field for his successor (Daniel Pinto v. Gordon Smith, FYI), head honcho Jamie Dimon is making it clear that he’s not about to go anywhere anytime soon....more
Goldman’s deal-making advising is sputtering a bit these days, so Lloyd and the gang are working on generating some of those deals themselves through a new Innovations Lab internal venture....more
Still think only moms are the primary caregivers for children? That ’50s era mindset is the subject of an ACLU charge of discrimination recently filed with the EEOC claiming that JPMorgan Chase’s parental leave policy...more
News emerged in past weeks that North Korean hackers were likely behind the theft of $81 million from the central bank of Bangladesh. You can add to that an attack on more than 20 Polish banks and an attempt at other...more
On September 13, Maine’s Supreme Judicial Court (the “Law Court”), in a 4-2 split decision, issued an opinion that may expose mortgagees and mortgage servicers to significant liability under the Maine statute that governs the...more
In its seminal 1974 American Pipe opinion, the Supreme Court held that the commencement of a class action tolls the applicable statutes of limitation as to all putative class members who would have been parties had the class...more
Kilby V. CVS Pharmacy: The California Supreme Court In The Driver’s Seat Clarifies Seating Standards In The Workplace - Most of the California Industrial Welfare Commission’s industry and occupational wage orders...more
Seyfarth Synopsis: Seats must be provided for each location where the work reasonably permits. It started like a bad joke. A cashier and a bank teller walk into a bar—actually, a federal court served by the Bar—and sue...more