02.12.15
With the U.S. Supreme Court’s denial of certiorari, the Board of Governors of the Federal Reserve Board’s interchange rules will stand.
01.29.15
In a victory for consumers, the U.S. Supreme Court unanimously ruled that the Truth in Lending Act (TILA) does not require borrowers to file suit to rescind a mortgage loan transaction within the statute’s three-year period.
01.15.15
In 2013, the Second Circuit issued an important opinion in Ony, Inc. v. Cornerstone Therapeutics, Inc., a false advertising case.
10.09.14
Almost all cases brought by the FDIC in the last few years against former directors and officers of failed banks have been resolved by negotiated settlements.
10.03.14
A recent opinion by the United States Court of Appeals for the Third Circuit held that the Supreme Court’s landmark decision in eBay is applicable to Lanham Act false advertising litigation and that irreparable injury can no longer be presumed in such cases, even where the case involves ...
08.14.14
In an effort to rectify “misunderstandings” and get out of the line of political fire, the Federal Deposit Insurance Corporation (FDIC) issued updated guidance to clarify its supervisory approach to institutions establishing account relationships with third-party payment processors.
07.31.14
In the context of Federal Deposit Insurance Corporation (FDIC) litigation against the former directors and officers of a failed bank, the Georgia Supreme Court has upheld the validity of the business judgment rule in the state – while leaving the door open for some negligence claims.
07.02.14
The Government Accountability Office (GAO) released on June 26 its long-awaited report on virtual currencies undertaken at the request of Senator Tom Carper, chairman of the Senate Committee on Homeland Security & Governmental Affairs.
06.05.14
New York’s Department of Financial Services (DFS) announced plans to conduct targeted cyber security audits of financial institutions regulated by the state agency following the release of a report documenting an increase in the number and intensity of cyber intrusions.
05.22.14
New York’s Department of Financial Services (DFS) is expanding its efforts to combat illegal payday lending to New York consumers by taking a series of steps to prevent payday lenders from collecting payments through the MasterCard and Visa networks.