Financial institutions have been facing class action lawsuits regarding overdraft and return item (NSF) fees since the early 2000s. Initially, the lawsuits were focused on the largest national banks. Over time, plaintiffs’...more
In a national bellwether case, the United States District Court for the Northern District of Florida dismissed a putative class action seeking the payment of “agent fees” for Paycheck Protection Program (PPP) loans under the...more
In four separate decisions issued on August 5, 2020, the U.S. Judicial Panel on Multidistrict Litigation declined to consolidate for pretrial purposes dozens of actions against national banks arising from their roles as...more
8/11/2020
/ Banks ,
Borrowers ,
Case Consolidation ,
Class Action ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Financial Institutions ,
Judicial Panels ,
Lenders ,
Multidistrict Litigation ,
Paycheck Protection Program (PPP) ,
Small Business ,
Small Business Loans
As more class actions are filed every day related to the COVID-19 pandemic, a growing number of plaintiffs are asserting claims against banks that acted as participating lenders in the Paycheck Protection Program (PPP). The...more
8/7/2020
/ Agents ,
Borrowers ,
Breach of Duty ,
CARES Act ,
Class Action ,
Coronavirus/COVID-19 ,
Fiduciary Duty ,
Lenders ,
Loan Applications ,
Multidistrict Litigation ,
Paycheck Protection Program (PPP) ,
SBA ,
Small Business Loans
In just two months, more than 110 class action lawsuits have been filed against colleges and universities. These complaints arise out of the COVID-19 pandemic that forced higher education institutions to close their campuses...more
5/31/2020
/ Breach of Contract ,
Class Action ,
Colleges ,
Conversion ,
Coronavirus/COVID-19 ,
Educational Institutions ,
Refunds ,
School Closures ,
Tuition ,
Universities ,
Unjust Enrichment
Lenders electing to participate in the $349 billion federal Paycheck Protection Program (PPP) understood the many challenges they faced in accepting and processing loan applications. ...more
On this blog, we previously wrote about the Fairness in Class Action Litigation Act of 2017, and identified its potential to bring significant changes to class action practice. That Act was passed by the House on March 9,...more
As we reported last year, in October 2015 the Consumer Financial Protection Bureau published an outline of proposals that would limit the use of arbitration provisions in contracts for consumer financial products. On May 5,...more
5/6/2016
/ Arbitration ,
Arbitration Agreements ,
AT&T Mobility v Concepcion ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Contracts ,
Consumer Financial Products ,
Financial Services Industry ,
SCOTUS ,
Service Contracts ,
Unconscionable Contracts
On Wednesday, October 7, the Consumer Financial Protection Bureau issued proposals that would, if adopted, limit the use of arbitration provisions in contracts for consumer financial products. The CFPB’s proposals would not...more
10/9/2015
/ Arbitration ,
Arbitration Agreements ,
AT&T Mobility ,
AT&T Mobility v Concepcion ,
Banking Sector ,
Banks ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Institutions ,
SCOTUS ,
Small Business