Does FDCPA Require a Debt Collector to Tell the Debtor if the Debt is...
On September 6, the CFPB Monitor reported that the CFPB and FTC filed amicus brief in a Seventh Circuit case, Delgado v. Capital Management Services, LP, arguing that a debt collector’s offer to settle...
View ArticleBank of America Goes to Trial over Countrywide’s Sub-prime Lending Programs.
This week jury selection began in the Department of Justice’s case against Bank of America in what Reuters has called “the government’s first financial crisis case to go to trial against a major bank...
View ArticleStressed Out: Dodd-Frank Adds Onerous Tests to Overburdened Midsized Banks
Midsize banks that have been struggling to keep their footing in a rapidly changing regulatory environment are about to be hit with another punch, courtesy of Dodd-Frank. Since the financial crisis of...
View ArticleDoes the Business Judgment Rule Apply to Bank Directors?
A recent decision out of the Northern District of Georgia has raised a question as to whether the business judgment rule applies to bank officers and directors. The FDIC sued the officers and directors...
View ArticleHeartland Suing Mercury: Payment Processors Should Pay Attention to This
This Wednesday, Heartland Payment Systems, Inc. sued Mercury Payment Systems, LLC, in federal court. The complaint alleges that Mercury won and maintained customers through “deceptive and unfair...
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Precedent-Setting Defeat of Americans with Disabilities Act Lawsuit Against...
In a published opinion, a United States district court dismissed a class action lawsuit against Cadence Bank’s ATM operations. The suit had alleged that the bank’s ATM operations—spanning the...
View ArticleJudge Rules that Dodd-Frank Whistleblowers Cannot Avoid Arbitration Agreements
Last week, Judge Katherine Polk Failla of the Southern District of New York ruled that a plaintiff making claims under the whistleblower protection provisions of the Dodd-Frank Act must submit to...
View ArticleSupreme Court Extends SOX Whistleblower Protections to Employees of Private...
The reach of the Sarbanes-Oxley Act of 2002 is not limited to publicly traded companies. The United States Supreme Court has greatly expanded the number of companies that may be subject to...
View ArticleFFIEC Issues Joint Statement on Increased Risk of ATM Cyber-Attacks
This month, the Federal Financial Institutions Examination Council (FFIEC), whose members include the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC),...
View ArticleProtection Against Ancient Claims
Put on your law school exam hats, ladies and gentlemen. It’s time for a hypothetical. On August 17, 1981, at a time when CDs were paying 15.55%, Woody Clark deposited $10,000 in a three-year...
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