News & Analysis as of

Class Action Financial Services Industry Putative Class Actions

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Alston & Bird

Class Action & MDL Roundup 2024 Q1 – Reaching Across the Pond

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Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the first quarter of 2024. In this edition, UK High Court weighs in on information asymmetry, debit is better than credit,...more

Goodwin

Increased Industry Attention on RESPA Section 8: Escue v. United Wholesale Mortgage, LLC

Goodwin on

On April 2, 2024, a putative class action was brought against United Wholesale Mortgage (UWM) alleging, among other claims, violations of Section 8(a) of the Real Estate Settlement Procedures Act (RESPA). The lawsuit contains...more

Alston & Bird

Class Action & MDL Roundup 2023 Q3 - Catching the Class Action Waive(r)

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Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the third quarter of 2023. In this edition, a mistake is just a mistake, “99.99%” isn’t 100% clear, and faxes aren’t always...more

Troutman Pepper

Citing Recent Precedent, Third Circuit Finds Plaintiff Lacks Standing Based on Informational Injury Doctrine in FDCPA Class Action

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On November 22, the Third Circuit Court of Appeals issued a decision finding that the plaintiff lacked Article III standing in a putative class action brought under the Fair Debt Collection Practices Act (FDCPA)....more

Troutman Pepper

For Your Information: Third Circuit Rejects Article III Standing Based on Informational Injury Doctrine in FDCPA Class Action

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On October 12, the U.S. Court of Appeals for the Third Circuit issued a decision rejecting a district court’s finding that the so-called informational injury doctrine established Article III standing for the named plaintiff...more

Alston & Bird

Class Action & MDL Roundup 2023 Q2 – Ascertainability Lives!

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Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the second quarter of 2023. In this edition, essential oils may need therapy, an ever-growing library goes nowhere, and one...more

Alston & Bird

Class Action & MDL Roundup 2023 Q1 – We Don’t Discount Confidentiality

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Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the first quarter of 2023. In this edition, in pork we antitrust, paid time off is not pay, and if it’s free, it won’t cost...more

Alston & Bird

Class Action & MDL Roundup 2022 Q2: Directing physical loss and damage

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Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the second quarter of 2022. In this edition, fail-safe classes fail, consumers smoke a motion to dismiss, and you can’t bring...more

Alston & Bird

Payments Docket - June 2022

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Welcome to the first edition of the Payments Docket, our roundup of key litigation involving the payment industry. This edition features a stolen cell phone number used to buy cryptocurrency, a pair of class actions accusing...more

Carlton Fields

Life Industry Class Action Trends in the First Half of 2020

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The first half of 2020 saw an uptick in the filing of class action lawsuits against life insurance companies. Life insurance companies have continued to be the target of putative class actions in California challenging...more

Bilzin Sumberg

With Consumer Protection Class Actions On the Rise, Is the Financial Services Industry in the Crosshairs?

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Lawyers or business people who feel they have been hearing about a lot more consumer protection class actions lately have good reason for that feeling. A recent report by Lex Machina, part of LexisNexis, highlights an...more

Carlton Fields

Should I Stay or Should I Go? Bankruptcy Preemption May Bar FDCPA and FCCPA Claims Either Way

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After receiving a bankruptcy discharge, a borrower whose home is pending foreclosure has two options: stay in the home and, perhaps, make voluntary payments on the mortgage, or leave the home and start fresh. When a debt...more

Manatt, Phelps & Phillips, LLP

Class Actions: Ninth Circuit Panel Allows Judge to Prohibit Precertification Settlement Negotiations

Taking the cautious view of a district court’s judicial discretion, the U.S. Court of Appeals for the Ninth Circuit declined to grant a writ of mandamus seeking to overturn a case management order that prohibited...more

Ballard Spahr LLP

Class Certification Doesn't Require Evidence That Class Members Can Be Ascertained

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In a unanimous decision that will make it easier for plaintiffs in California state courts to obtain class certification, the California Supreme Court ruled that the ascertainability requirement for certification of class...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Weeks Ending September 22 & 29, 2017

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REAL PROPERTY UPDATE - - Constructive Notice: a memorandum of agreement that is recorded in the official records of the county in which the property is located and refers to an unrecorded agreement entered into by the...more

Carlton Fields

Mortgage Servicer Defeats Class Certification Over Collection Practices Allegedly Targeting Discharged Mortgage Debts

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The Middle District of Florida recently denied a plaintiff’s motion for class certification concerning claims that a collection agency illegally and intentionally sent collection correspondence to mortgagees whose debts...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more

Stinson LLP

Emerging Trends in Arbitration: Battle Brewing Between Executive and Judicial Branches

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In recent years, arbitration has become a divisive issue. Exemplifying the increased public focus on arbitration, The New York Times ran a three-part series in 2015 that was very critical of the state of arbitration law. In...more

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