Banking and Finance

Recent Posts

IMHO, Omnicare Doesn’t Materially Change Opinion Disclosure
Posted on 27 Mar 2015 by Andrew Ledbetter

On March 24, the U.S. Supreme Court issued its anticipated Omnicare decision, which addresses the standard of liability applied to expressions of opinion in a registration statement for a public offering [ subscribers may access Supreme Court... Read More

Supreme Court Ruling in Stanford Financial Case on SLUSA Leaves Madoff Victims Wondering “Why Not Us?”
Posted on 6 Mar 2014 by Kathy Bazoian Phelps

In a legal environment that seems to be growing increasingly difficult for Ponzi scheme victims to recover their losses, the United States Supreme Court gave a group of defrauded investors some welcome news. The Court issued its decision in Chadbourne... Read More

Supreme Court Skeptical of Lender’s Interpretation of TILA Rescission Statute
Posted on 12 Nov 2014 by Troutman Sanders

by S. Mohsin Reza and John C. Lynch Last week, the U.S. Supreme Court heard argument in an appeal from the U.S. Court of Appeals for the Eighth Circuit that involves an interpretation of a provision under the Truth-in-Lending Act that has caused a... Read More

High Court Hears Oral Arguments in Debt Collection Case Over Costs Awards
Posted on 8 Nov 2012 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court heard oral arguments on Nov. 7 over whether a prevailing defendant in a Fair Debt Collection Practices Act (FDCPA) lawsuit may be awarded costs even though the lawsuit was not brought in bad... Read More

U.S. Supreme Court Invites Solicitor General to File Comment on Pending Spokeo Appeal
Posted on 8 Oct 2014 by Troutman Sanders

by H. Scott Kelly and Alan D. Wingfield The United States Supreme Court on Oct. 6 issued an order inviting the U.S. Solicitor General to file a brief on the pending cert petition filed in Spokeo, Inc. v. Robins , which is on appeal from the Ninth Circuit... Read More

Supreme Court Clarifies Borrowers’ Right to Rescind Under Truth in Lending Act
Posted on 14 Jan 2015 by Troutman Sanders

by William H. Hurd , S. Mohsin Reza and John C. Lynch In a major, unanimous decision on the Truth in Lending Act (TILA), the Supreme Court resolved a circuit split and clarified borrowers’ rescission rights under TILA, potentially making rescission... Read More

Supreme Court Hears Arguments on Whether TILA Action Is Time-Barred
Posted on 4 Nov 2014 by Lisa M. Hickey

WASHINGTON, D.C. — (Mealey’s) Countrywide Home Loans Inc. and property owners today argued before the U.S. Supreme Court as to whether a lawsuit filed by the owners in relation to their right to rescind under the Truth in Lending Act (TILA... Read More

Credit Repair Organization Act’s Silence On Arbitration Means Claims Must Be Arbitrated, High Court Rules
Posted on 10 Jan 2012 by LexisNexis® Mealey's™ Legal News

WASHINGTON, D.C. - (Mealey's) Because the Credit Repair Organizations Act (CROA) does not specifically state whether claims brought pursuant to the act are eligible for arbitration, the Federal Arbitration Act (FAA) requires an arbitration agreement... Read More

Supreme Court Grants Cert in Truth in Lending Act Rescission Actions, Remands Cases
Posted on 20 Jan 2015 by Lisa M. Hickey

WASHINGTON, D.C. — (Mealey’s) In light of the recent ruling in Larry D. Jesinoski, et al. v. Countrywide Home Loans Inc., et al. (No. 13-684, U.S. Sup.) [ subscribers may access Supreme Court briefs and an enhanced opinion for this... Read More

High Court: Debt Collection Act Does Not Prohibit Award of Costs Under Rule
Posted on 26 Feb 2013 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) Section 1692k(a)(3) of the Fair Debt Collection Practices Act (FDCPA) "is not contrary to, and, thus, does not displace a district court's discretion to award costs under" Federal Rule of Civil Procedure... Read More