News & Analysis as of

Wells Fargo Appeals

Fuerst Ittleman David & Joseph

D.C. Circuit: U.C.C. Article 4A Does Not Govern Judgment Creditors’ Claims to Sanctioned Company’s Funds Held by Intermediary...

On August 16, 2022, the United States Court of Appeals for the D.C. Circuit issued its ruling in Estate of Jeremy Isadore Levine, et al. v. Wells Fargo Bank, N.A., No. 21-7036, –F.4th– (D.C. Circuit August 16, 2022), a case...more

Burr & Forman

FINRA Report Denies Arbitrator Selection Manipulation

Burr & Forman on

On June 29, 2022, FINRA released the report of its independent investigation, concluding that allegations of a “secret agreement” to avoid certain arbitrators on an industry lawyer’s cases were untrue. The allegations...more

McDermott Will & Emery

Eighth Circuit Applies Subjective Standard to Reasonable Basis Penalty Defense

On April 24, 2020, the US Court of Appeals for the Eighth Circuit published its opinion in Wells Fargo & Co. v. United States, No. 17-3578, affirming a district court’s holdings that the taxpayer was not entitled to certain...more

Kramer Levin Naftalis & Frankel LLP

Seventh Circuit Finds Section 546(c) Creates Federal Priority Rule for Disputes Between Reclaiming Sellers and Secured Lenders

In Whirlpool Corp. v. Wells Fargo Bank (In re hhgregg Inc.), Case No. 18-3363 (7th Cir. Feb. 11, 2020), the Seventh Circuit held that a trade creditor’s later-in-time reclamation claim was subordinate to lenders’ pre-petition...more

Knobbe Martens

Wells Fargo Twice Found Guilty of Willfully Infringing Patents on Remote Check Depositing Technology

Knobbe Martens on

USAA filed multiple patent infringement lawsuits against Wells Fargo, alleging widespread infringement of USAA’s patented technologies on remote check deposits for mobile banking systems. Last November, a jury in a first case...more

Dorsey & Whitney LLP

Second Circuit Holds that the FCA Applies to Regional Federal Banks

Dorsey & Whitney LLP on

On November 21, 2019, the Second Circuit held that allegedly fraudulent loan requests presented to one or more of the Federal Reserve System’s twelve Federal Reserve Banks are “claims” within the meaning of the FCA. The court...more

Orrick, Herrington & Sutcliffe LLP

New Jersey Supreme Court Rules on Insurable Interest and Return of Premiums

On June 4, 2019, in a case captioned Sun Life Assurance Company of Canada v. Wells Fargo Bank, N.A., the Supreme Court of New Jersey answered two questions certified to it by the United States Court of Appeals for the Third...more

Parker Poe Adams & Bernstein LLP

Well Thank Goodness: Collateral Estoppel Does Apply to N.C. Foreclosures

The current good economy (going on almost 10 years now) has meant that North Carolina appellate decisions affecting lenders trying to collect defaulted debt have been few and far between in the last couple of years. The North...more

Burr & Forman

Florida's Fourth DCA Continues Broad Application of Glass Opinion on Fee Entitlement

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Florida’s Fourth District Court of Appeal continued to broadly apply the holding in Nationstar Mortgage LLC v. Glass, 219 So. 3d 896, 898 (Fla. 4th DCA 2017), review granted, SC17-1387, 2018 WL 2069328 (Fla. Feb. 13, 2018) in...more

Winstead PC

The Texas Supreme Court Denies Review In A Case Awarding Mental Anguish Damages, Exemplary Damages, and Other Damages For A...

Winstead PC on

Today, the Texas Supreme Court denied review in Wells Fargo v. Militello, No. 05-15-01252-CV, 2017 Tex. App. LEXIS 5640 (Tex. App.—Dallas June 20, 2017, pet. denied). In Militello, the court of appeals affirmed a trial...more

Butler Snow LLP

Sixth Circuit Offers Perspective on Federal Removal and Wrongful Foreclosure in Mortgage Litigation

Butler Snow LLP on

In Beasley v. Wells Fargo Bank, N.A., 2018 WL 3478882 (6th Cir. July 19, 2018), the United States Court of Appeals for the Sixth Circuit provided clarification on certain aspects of removing a case from state court to federal...more

Vedder Price

Global Transportation Finance Newsletter - April 2018

Vedder Price on

Aircraft Lender Not Responsible for Customer’s Structuring Strategy - Most business aircraft purchasers, especially high net worth individuals, rely on advice from their various resources when acquiring such expensive...more

Gray Reed

An Oil and Gas Case to Expect From Louisiana, and Another From Texas

Gray Reed on

Anyone seeking stability in the law governing E&P activities in Louisiana will view the lower court decision as a grave error that must be corrected. Virtually every mortgage provides safeguards to protect collateral and...more

Pierce Atwood LLP

Mass. Appeals Court Rebuffs Mortgagee’s Novel Bid For Equitable Subrogation

Pierce Atwood LLP on

In its decision yesterday in Wells Fargo Bank v. Comeau, the Massachusetts Appeals Court rejected the plaintiff mortgagee’s attempt to use the doctrine of equitable subrogation in a novel way: to impose on a surviving wife...more

Snell & Wilmer

What Happens When a Secured Creditor Files a Late Claim in an Equity Receivership?

Snell & Wilmer on

Pitting a receivership court’s inherent equitable powers against pre-existing property rights can lead to some pretty interesting questions. In SEC v. Wells Fargo Bank, N.A., 848 F.3d 1339, 1343-44 (11th Cir. 2017), the...more

Winstead PC

Court Reviews Damages For Mental Anguish, Exemplary Damages, and Other Categories For A Trustee’s Breach Of Fiduciary Duty

Winstead PC on

In Wells Fargo v. Militello, a trustee appealed a judgment from a bench trial regarding a beneficiary’s claims for breach of fiduciary duty, negligence, and fraud. No. 05-15-01252-CV, 2017 Tex. App. LEXIS 5640 (Tex....more

Perkins Coie

Blockchain Week in Review – April 2017 #2

Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Ballard Spahr LLP

Nev. Supreme Court Holds HOA Foreclosure Statute Constitutional, Splits with Ninth Circuit

Ballard Spahr LLP on

The Nevada Supreme Court has upheld the constitutionality of Nevada's pre-2015 statutory scheme for homeowners association (HOA) foreclosures. This decision contradicts the Ninth Circuit Court of Appeals' conclusion that the...more

Ballard Spahr LLP

Bourne Valley Redux

Ballard Spahr LLP on

The dispute between lenders and the purchasers at homeowners’ association foreclosure sale regarding superiority of title has embroiled the State of Nevada since at least as early as 2012. Since the issue rose in volume and...more

Burr & Forman

Florida's Fourth DCA Confirms that a Borrower is in the Best Position to Know Their Own Financial Information

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The Fourth District Court of Appeal recently affirmed its prior decision in Vidal v. Liquidation Properties, Inc., 104 So. 3d 1274 (4th DCA 2013). Wells Fargo Bank, N.A. v. Hilary A. Williamson, Case No. 4D15-285, 2016 WL...more

Burr & Forman

Bankruptcy Petition Costs Litigant Right to Appeal State Court

Burr & Forman on

Learning the interplay between state rules of judicial procedure and federal bankruptcy law can be a daunting undertaking, but the pitfalls of failing to do so can be severe. A recent example of the importance of being...more

Allen Matkins

Ninth Circuit Bankruptcy Appellate Panel Holds that an Oversecured Creditor Is Entitled to Default Interest After the Petition...

Allen Matkins on

In Wells Fargo Bank, N.A. v. Beltway One Dev. Grp., LLC (In re Beltway One Dev. Grp., LLC), 547 B.R. 819 (B.A.P. 9th Cir. 2016), the Ninth Circuit Bankruptcy Appellate Panel recently held that an oversecured creditor is...more

Brooks Pierce

Court Of Appeals Affirms Business Court Award Of $1 Million In Fees To Class Counsel

Brooks Pierce on

It seems like forever ago that the then venerable North Carolina institution, Wachovia Bank, failed and was acquired by Wells Fargo. (This was actually seven years ago). But just last week came what might be the final...more

Poyner Spruill LLP

NC Court of Appeals Weighs in on Multiple Creditor’s Rights Issues

Poyner Spruill LLP on

The NC Court of Appeals has issued a number of opinions this year involving lender foreclosure or collection efforts. Not all of the holdings have been monumental, but there is a common thread of useful principles,...more

Carlton Fields

Appellate Courts + STOLI = Mixed Results

Carlton Fields on

In recent years, federal district courts addressing claims and defenses with respect to stranger-originated life insurance (STOLI) schemes have reached a variety of results. Accordingly, federal appellate courts have...more

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