News & Analysis as of

Attorney's Fees Financial Institutions

Bradley Arant Boult Cummings LLP

CFPB Issues Advisory Opinion Restricting Fees Charged for Consumer’s Requests for Account Information

In October 2023, the CFPB issued an advisory opinion titled, “Consumer Information Requests to Large Banks and Credit Unions.” The upshot of the advisory opinion is that covered financial institutions responding to consumer...more

Ballard Spahr LLP

442 Congress members did NOT join anti-arbitration letter to CFPB

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Recently, 93 members of Congress (all Democrats) signed a letter in support of the pending Petition for Rulemaking filed by consumer advocacy groups in September that would prohibit pre-dispute consumer arbitration clauses...more

Latham & Watkins LLP

Federal Reserve Launches FedNow Real-Time Payment Service

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Consumers and businesses stand to benefit from rapid access to funds at any time when routed through participating financial institutions. On July 20, 2023, the Federal Reserve announced the long-awaited launch of its...more

McGlinchey Stafford

Is My Electronic Signature Valid? - Commercial Law Bulletin - June 10 2022

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Ohio- Uniform Trade Secrets Act Sal’s Heating & Cooling, Inc. v. Bers Acquisition Co., 8th Dist. Cuyahoga No. 110685, 2022-Ohio-1756- In this appeal, the Eighth Appellate District affirmed the trial court’s decision,...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending November 15, 2019

Carlton Fields on

Real Property Update - Foreclosure / Notice: Mail log sufficient evidence to establish mailing of notice to borrower of default and possibility of foreclosure – Stacknik v. U.S. Bank, N.A., No. 2D18-2156 (Fla. 2d DCA Nov....more

Robinson+Cole Data Privacy + Security Insider

Home Depot Settles Data Breach Class Action Case with Financial Institutions and Counsel for $42.55 million

Following its data breach in 2014, Home Depot was sued by thousands of financial institutions requesting recovery of costs associated with the issuance of new credit and debit cards to 50 million individuals affected by the...more

Carlton Fields

Fraud-Free Sunsets: How Financial Professionals Can Deter Financial Elder Abuse in Florida and Reduce Their Own Liability Exposure

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Investment advisers, securities brokers, and other financial professionals who work directly with clients who are age 60 and older have two reasons to learn more about Florida’s financial elder abuse laws....more

Ballard Spahr LLP

Spokeo Argument After Removal to Federal Court Creates Double-Edged Sword for Defendants

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After the U.S. Supreme Court's decision in Spokeo, Inc. v. Robbins last year, many defendants have perceived the assertion of a standing argument as a potential panacea when confronted with federal statutory claims in which...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending January 20, 2017

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REAL PROPERTY UPDATE - Foreclosure/Vacating Judgment: estate failed to either allege or prove any basis under Rule 1.540 to vacate final judgment of foreclosure to which it had consented – The Bank of N.Y. Mellon v....more

Carlton Fields

Real Property & Title Insurance Update: Weeks Ending June 10 & 17, 2016

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REAL PROPERTY UPDATE - - Foreclosure/Standing/Hearsay: copy of a note with undated allonge containing blank endorsement sufficient to establish standing as a matter of law, even though bank did not have formal...more

Carlton Fields

Real Property & Title Insurance Update: Weeks Ending April 29 & May 6, 2016

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REAL PROPERTY UPDATE - Foreclosure/Requests for Admission: trial court erred by involuntarily dismissing foreclosure action based solely on lender’s failure to respond to requests for admission because lender’s...more

Carlton Fields

FINRA Panel Did Not Exceed Authority Or Manifestly Disregard Law By Failing To Award “Prevailing Party” Attorney’s Fees

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A broker sought to vacate his FINRA compensatory damages award against a broker/dealer because the award did not include his attorney’s fees. The broker believed he was entitled to those fees as the “prevailing party” within...more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Week Ending October 16, 2015

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REAL PROPERTY UPDATE - - Foreclosure/Standing: although bank established it had possession of note prior to commencement of action, bank did not demonstrate when blank endorsement was placed on note, nor did it prove it...more

Burr & Forman

Federal Courts Rejecting Hyper-Technical Claims on Reg X Notice of Error/Request for Information Provisions

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In Russell v. Nationstar Mortgage, LLC, No. 14-61977-CIV, 2015 WL 5029346, at *5 (S.D. Fla. Aug. 26, 2015), United States District Court Judge Beth Bloom issued litigious borrowers their latest setback in a large scale...more

Ballard Spahr LLP

Borrowers’ Counsel Sanctioned for Frivolous Lawsuit Against Lender Who Attempted to Resolve Foreclosure Action

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An Ohio appellate court has affirmed an order of sanctions against counsel for borrowers who filed a frivolous lawsuit against the lender alleging fraud, breach of contract and estoppel in connection with failed attempts to...more

Orrick - Finance 20/20

Repurchase Action Against Natixis Real Estate Holdings, LLC Survives Motion to Dismiss

Orrick - Finance 20/20 on

On July 1, Justice Marcy Friedman of the Supreme Court of New York for New York County denied Natixis Real Estate Holdings, LLC’s (“Natixis”) motion to dismiss a repurchase action brought by Wells Fargo Bank, N.A., and...more

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