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Corporate Counsel

Wells Fargo, Promoting 'Accountability,' Slashes Executive Compensation

Wells Fargo & Co. on Wednesday slashed compensation for eight top executives, including the bank's general counsel, to "reinforce accountability" in the aftershock of the sham-account scandal.
10 minute read

Daily Business Review

$74 Million Bond Sale Funds Miami Worldcenter Infrastructure

The Miami Worldcenter Community Development District wraps up the bond sale to fund major infrastructure upgrades where the mixed-use project is rising.
8 minute read

Legaltech News

Beneficial Ownership Registers: Transparency v. Privacy in the Cayman Islands

The Cayman Islands' new centralized platform, only available to law enforcement, could be at odds with the current trend of greater control over personal data.
10 minute read

The Legal Intelligencer

JP Morgan Chase Bank v. Whittenberg, PICS Case No. 17-0195 (C.P. Jan., 20, 2017) Carpenter, J. (5 pages).

By | February 24, 2017
In this mortgage foreclosure action, JP Morgan Chase Bank ("JP Morgan) had obtained a default judgment against Whittenberg for a mortgage that was originated in 2006 and secured by real property at 1737 Naudain Street in Philadelphia. Whittenberg filed four motions to postpone a sheriff's sale, the first two of which were granted, and the last two were denied. Whittenberg then filed bankruptcy and JP Morgan then sought to postpone the sheriff's sale due to the automatic stay, which the court granted. Whittenberg subsequently filed her fifth motion to postpone the sheriff's sale, which the court denied.
6 minute read

Texas Lawyer

After Demise of $7.5B Accord, Restaurant Chain Sues for Relief From Credit Card Company Fees

After a $7.5 billion antitrust settlement between merchants and Visa and MasterCard over alleged fee fixing blew up last year, some big businesses have chosen to file similar claims in state court, including Texas-based Luby's Fuddruckers Restaurants who recently sued the credit card companies in a Harris County district court.
5 minute read

New York Law Journal

Split Increases Uncertainty as to Extent of Safe Harbors

In her Distress Mergers and Acquisitions column, Corinne Ball of Jones Day discusses a recent Seventh Circuit decision that rekindled a circuit split regarding the interpretation of §546(e), which is one of the "safe harbor" provisions enacted to minimize displacement in the commodities and securities markets in the event of a major bankruptcy affecting those markets. The split results in various levels of risk for participants in financial transactions, depending on the likely venue for a later challenge.
17 minute read

The American Lawyer

Two Venable Partners, Including Outspoken Dodd-Frank Critic, Join Trump Team

Two Venable partners, including a former lead Republican negotiator on the post-crisis Dodd-Frank financial reforms who has called the Obama-era regulations "heavy-handed," have joined President Donald Trump's administration. Andrew Olmem, who worked on the Dodd-Frank reforms, will serve at the White House National Economic Council, and Daris Meeks was named director of domestic policy for Vice President Mike Pence.
15 minute read

Daily Report Online

Troubled Ocwen Faces New Complaint in Georgia

Perennially-troubled mortgage servicer Ocwen Loan Servicing LLC just can't seem to escape complaints about its lending operations. Having reached a $225 million settlement with the state of California just last week that would restore its suspended right-to-service loans in that state, Ocwen Loan Servicing is facing new claims in Georgia that for decades it has collected interest payments from homeowners after their mortgages had been paid in full.
10 minute read

Legaltech News

For Finance Industry In-House Counsel, the Future Is Pressing, but Largely Unknown

DTCC general counsel Ann Shuman discusses the challenges of legal departments and what to expect from a life at the helm of market and technology evolution.
11 minute read

Daily Business Review

Federal Luxury Real Estate Deal Oversight on Verge of Expiration

A Treasury Department program aimed at tracking dirty money in South Florida's luxury housing market is set to expire Thursday.
17 minute read

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