A divided Seventh Circuit found that the Truth in Lending Act (TILA), 15 U.S.C. § 1601 et seq., requires mortgage servicers to credit online electronic payments on the day the customer authorizes the payment, despite not actually receiving the payment at that time.
In my post last week, China Bank Technology Rules: Not the Same Old Thing, I said I would come back here with a solution to this bank software mess.
In a March 24, 2015 opinion in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund (here), the U.S. Supreme Court set aside the Sixth Circuit’s ruling that allegations of “objective falsity” were sufficient to make a statement of opinion in securities offering documents actionable.
Omnicare Decision Clarifies Pleading Standard for Section 11 Claims Based On Statements of Opinion in Registration Statements
As I discuss in the accompanying post, on March 24, 2015, the U.S. Supreme Court issues its opinion in the Omnicare case. In the following guest post, the Skadden law firm summarizes the case and its holding.
Today, 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.
The Consumer Financial Protection Bureau recently issued its semi-annual Supervisory Highlights report, which summarizes non-public supervisory actions that occurred during the second half of 2014.
With the signing of an executive order on February 13, 2015, President Barack Obama encouraged companies within various industry sectors to better combat online security breaches through the formation of organizations dedicated to the sharing of information related to threats.
The CFPB has published two Federal Register notices seeking comments on its plans to request approval from the Office of Management and Budget for two new generic information collection plans.
Despite loud industry objections and apparent impracticalities, the Consumer Financial Protection Bureau (CFPB) has moved ahead with its plan to allow consumers submitting to its Consumer Complaint Database to go public with narrative descriptions of their complaints.