National Bank to Pay $400M for Its Failed Risk Management Programs
The OCC and the Federal Reserve Bank (FRB) of New York recently settled with a registered bank holding company and its subsidiary national bank for... Read More
Litigation Developments
FTC Loses False Advertising Case with Non-Credible Expert Witness
The FTC recently lost a false advertising case it brought in the U.S. District Court for the Western District of Pennsylvania against a company manufacturing... Read More
7th Circuit Grants Government Request to Dismiss False Claims Act Lawsuit
The U.S. Court of Appeals for the Seventh Circuit recently held that the Federal government has the right to dismiss a qui tam complaint without... Read More
3rd Circuit Holds FCA’s “First to File” Rule Not Jurisdictional
In a recent decision, a three-judge panel of the U.S. Court of Appeals for the Third Circuit held that the “first to file rule” under... Read More
9th Circuit Finds Home Owner’s Loan Act of 1933 Preempts California State Law
Following years of litigation, the Ninth Circuit held that the Home Owner’s Loan Act of 1933 (HOLA) preempts a California state law requiring banks to... Read More
11th Circuit: Credit Pulls Didn’t Violate FCRA or Settlement
The U.S. Court of Appeals for the Eleventh Circuit recently affirmed summary judgment for a television provider that had pulled credit in response to fraudulent... Read More
AGs from 7 States and DC Seek Invalidation of FDIC’s “Valid When Made” Rule in Northern CA US District Court
Attorneys General from seven states and the District of Columbia recently filed a Complaint in Northern California District Court for declaratory and injunctive relief against... Read More
11th Circuit Judge Awards $8.75M in Attorneys’ Fees in TCPA Class Action
A district court judge in Alabama recently awarded attorneys’ fees in the amount of $8.75 million in a TCPA class action brought against a domain... Read More
Judge Rejects Due Process Arguments and Enters $925 Mil TCPA Award
A federal judge in Oregon recently found that a $925 million award in a Telephone Consumer Protection Act (TCPA) class action did not violate due... Read More
6th Circuit Ruling Deepens Circuit Split on How Autodialers are Defined
The Sixth Circuit recently issued an opinion holding that a device capable of dialing telephone numbers from a stored list of numbers constitutes an autodialer... Read More
Firm’s Attempt to Collect Agent Fees from PPP Lenders is Blocked
A federal judge in Florida recently denied an accounting firm’s attempt to recover fees from lenders who participated in the Paycheck Protection Program (PPP) under... Read More
Bank to Pay $80M Penalty for Failed Risk Management Processes & Untimely Corrective Action
The OCC recently entered into an $80 million consent order with a national bank for its failure to safeguard consumer financial data. The OCC found... Read More
Industry News, including Federal Regulatory Developments, State Regulatory Developments and Litigation Developments, is for general information purposes only and is not in any way intended, nor shall it be construed, as legal advice, legal opinion or any other advice on any specific facts or circumstances. No person or entity (“Person”) should act or refrain from acting upon this information without seeking professional advice. No Person may rely on this information or its applicability to any specific circumstances. The information in Industry News, including Federal Regulatory Developments, State Regulatory Developments and Litigation Developments, is in no instance to be taken as an indication of completeness, applicability to a particular situation, or an indication of future developments or results.