Sign in to follow

Corporate Counsel

Amex Latest Target as Regulators Scrutinize Whether Credit Card Issuers Deliver on Rewards Promises

“Issuers need to think about rewards programs with the same level of rigor as they do for things like interest rates and fees. That means ensuring marketing claims are accurate, redemption processes are clear, and systems are in place to handle technical issues," said A.J. Dhaliwal, a partner at Sheppard Mullin.
6 minute read

Corporate Counsel

Wells Fargo and Bank of America Agree to Pay Combined $60 Million to Settle SEC Probe

In the enforcement actions announced Friday, the regulator said the two firms agreed to settle the charges without admitting or denying any wrongdoing.
2 minute read

Texas Lawyer

Texas Supreme Court Grapples Over Fifth Circuit Question on State Usury Law

The Texas Supreme Court must decide whether Texas law permits interest rates on the total principal amount for the life of the loan, regardless of a declining principle balance.
5 minute read

New York Law Journal

A Guaranty’s Survival of Its Guarantor Requires Careful Drafting

Since guaranties are important parts of most transactions, careful attention should be paid to selecting your guarantor, drafting the applicable loan document provisions and monitoring the status of your guarantor so that timely action can be taken if needed to make a claim against an estate.
6 minute read

Law.com

7th Circ. Revives Transactional Dispute Against Military Retailer, Sends to State Court

"By the plain language of § 1447(c), then, once the district court determined it lacked jurisdiction, it was required to remand the case to state court—which has congressional authority to hear it," Judge Amy St. Eve said.
4 minute read

New York Law Journal

'Merciless' Filing Deadline Dooms Cuban Americans' Property-Trafficking Suit Against BNP Paribas, SocGen

A three-judge panel found that the Helms-Burton Act contains a "merciless" two-year filing deadline that forecloses a series of lawsuits arising from financial transactions that took place between 2000 and 2010.
4 minute read

Corporate Counsel

After 2024's Regulatory Tsunami, Financial Services Firms Hope Storm Clouds Break

Legal observers say Donald Trump's return to the White House brightens the outlook for Capital One's proposed $35 billion purchase of Discover, and may bring an end to financial regulators' crackdown on "off-channel" communications.
3 minute read

National Law Journal

Financial Watchdog Alleges Walmart Forced Army of Gig-Worker Drivers to Receive Pay Through High-Fee Accounts

The Consumer Financial Protection Bureau sued Walmart and the payments platform Branch Messenger in federal court in Minnesota.
2 minute read

National Law Journal

Chicago Federal Court Offers Banks Relief From Illinois' Historic Credit Fee Curbs

U.S. District Chief Judge Virginia Kendall of the Northern District of Illinois found that a coalition of banking associations represented by Jones Day and Skadden, Arps, Slate, Meagher & Flom would likely show that the National Bank Act preempts the Illinois Interchange Fee Prohibition Act.
4 minute read

New York Law Journal

CFPB Takes on BoA, Wells Fargo and JPMorgan Chase Over Zelle Fraud

The agency said they will seek cash damages to repay consumer losses over fraudulent activity. It claims that customers at the banks lost more than $870 million to fraud since Zelle's inception.
3 minute read

More from ALM

More from ALM

Legal Speak is a weekly podcast that makes sense of what’s happening in the legal industry.

Resources

  • Aligning Client Needs with Lawyer Growth and Profitability

    Brought to you by BigHand

    Download Now

  • Technology to Make E-Discovery Smarter, Not Harder

    Brought to you by Nuix

    Download Now

  • Does Generative AI Have the Power to Transform Legal Services?

    Brought to you by HaystackID

    Download Now

  • How This Personal Injury Firm Reduced Client Intake Time by 80%

    Brought to you by PracticePanther

    Download Now