• 03.09.18

    Eleventh Circuit’s Decision on Partial Revocation Stands

    The Eleventh Circuit declined to reconsider its decision in Schweitzer v. Comenity Bank, denying the defendant’s motion to rehear the case.

  • 02.28.18

    FTC Halts Mortgage Loan Modification Scam

    The Federal Trade Commission (FTC) put a stop to a mortgage loan modification operation, filing suit in Nevada federal court alleging violations of the Mortgage Assistance Relief Services (MARS) Rule and the FTC Act.

  • 02.28.18

    Failed Bank Wins Coverage Despite Prior Acts Exclusion

    Despite the existence of a prior acts exclusion in an insurance policy, the officers and directors of a failed bank were entitled to coverage for a lawsuit brought by the Federal Deposit Insurance Corporation (FDIC), the U.S. Court of Appeals for the Eleventh Circuit recently ruled.

  • 02.28.18

    Key Whistleblower Decision Addresses Scope of Dodd-Frank Protections

    In a unanimous decision issued on February 21, 2018, the U.S. Supreme Court held that the anti-retaliation provisions of the 2010 Dodd-Frank law protect only those whistleblowers who report information to the Securities and Exchange Commission (SEC).

  • 02.16.18

    Passive Investors in Payday Lending Operations Get Partial Reprieve

    While tossing certain claims brought by Pennsylvania’s attorney general, a federal judge denied part of a motion to dismiss brought by online short-term lenders in an action accusing them of “renting” Native American tribes and out-of-state banks.

  • 02.01.18

    BSA/AML News: $29M Fine and BSA Changes Under Consideration

    Anti-money laundering (AML) violations resulted in a Taiwanese bank and its U.S. branches being hit with a $29 million civil monetary penalty from the Board of Governors of the Federal Reserve System.

  • 01.18.18

    Ninth Circuit: California Surcharge Law Unconstitutional

    The U.S. Court of Appeals for the Ninth Circuit, following decisions from three other circuit courts and the Supreme Court, ruled that California’s statute banning surcharges on credit card purchases is unconstitutional. 

  • 01.18.18

    Mortgage Servicer Reaches $45M Deal With AGs

    In a settlement involving the attorneys general of 49 states and the District of Columbia, a national mortgage servicer agreed to pay roughly $45 million for allegedly violating state and federal laws on foreclosures, loan modifications and servicing, including more than $31 million in payments to ...

  • 01.09.18

    Financial Litigation Roundup: Key Federal Rulings in 2017

    In case you missed it, here is our list of the most significant financial services rulings in 2017 from the Supreme Court of the United States and major federal appellate courts.

  • 12.28.17

    NY’s Highest Court Will Consider Credit Card Surcharge Ban

    The New York Court of Appeals will consider the state’s law prohibiting merchants from imposing credit card surcharges, following certification of that question by the Second Circuit, on remand from the U.S. Supreme Court.