9th Circuit Finds Standing for Businesses Under the TCPA
On October 12, a Ninth Circuit panel reversed a district court’s dismissal of a lawsuit brought under the Telephone Consumer Protection Act (TCPA) by several... Read More
Litigation Developments
Judge Holds National Bank Not Required to Pay Interest Under State Law
A federal judge in Rhode Island recently granted a national bank’s motion to dismiss, holding that the state’s law requiring national banks to pay interest... Read More
CFPB Consent Order Against Bank for Overdraft Fees Results in $50M Penalty and Financial Redress to Affected Consumers
A Consent Order recently issued by the CFPB alleged that a Respondent bank’s overdraft fees drawn from consumers’ bank accounts from August 2018 to July... Read More
Remittance Transfer Provider to Pay $950,000 to CFPB for Disclosure Violations
The CFPB recently entered into a consent order with a nonbank remittance transfer provider. Following an investigation into the provider’s remittance transfer services, the CFPB... Read More
Bank Agrees to Settle RMBS Litigation with Bond Insurer
A large bank has agreed to pay $1.84 billion to a bond insurer to settle remaining litigation with the bank over pre-2008 mortgage securitizations. On... Read More
DOJ Reaches Redlining Settlement with New Jersey Bank
The Department of Justice (DOJ) recently reached a settlement with a New Jersey state-chartered bank over alleged discriminatory redlining lending practices. The bank allegedly failed... Read More
Bank to Pay $1.3 Million to Settle Discriminatory Pricing Practices
The DOJ recently entered into a consent order with a Tennessee bank to resolve allegations of unfair lending practices. In a complaint filed on September... Read More
Settlement Reached in First-of-its-Kind PPP FCA Case
The U.S. Attorney’s Office for the Southern District of Florida recently reached a settlement in a False Claims Act qui tam action, originally brought by... Read More
D.C. District Court Partially Rejects CFPB HMDA Reporting Rule
The U.S. District Court for the District of Columbia recently rejected part of a rule promulgated by the CFPB in 2020 that increased the loan-volume... Read More
National Bank Exempt from NY Law Requiring Escrow Interest Payments
Earlier this month, a three-judge panel in the Second Circuit ruled in favor of a multinational investment bank (the Bank), finding national banks to be... Read More
NY Federal Court Allows OD Fee Case to Move Forward
The U.S. District Court for the Northern District of New York (NDNY) recently denied a bank’s motion to dismiss a breach of contract claim in... Read More
DOJ Reaches First Settlement with PPP Lender over False Loan Application
Earlier this month, the DOJ announced its first False Claims Act (FCA) settlement with a Paycheck Protection Program (PPP) lender, resolving allegations that the bank... Read More
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