On April 11, 2016, the Government Accountability Office (“GAO”) released a hundred-plus page report analyzing the effects of the growth of nonbank servicers in the mortgage market.
On Monday April 25, the U.S. Supreme Court granted certiorari in United States v. Shaw, a closely watched case out of the Ninth Circuit addressing the bank fraud statute, 18 U.S.C. § 1344.
“Does your mobile app collect, create, or share consumer information? Does it diagnose or treat a disease or health condition?” If so, then the FTC’s new online tool may assist you in understanding what federal laws or regulations might apply to your app.
Beginning on May 16, issuers for the first time will be able to offer and sell securities online to anyone, not just accredited investors, without registering with the SEC.
On April 20, the United States Senate passed a sweeping energy bill that would give the Department of Energy authority to step in during a cyber attack and tell electric companies what to do to protect the nation’s power grid.
Following the Eleventh Circuit’s decision last month in McGinnis v. American Home Mortgage Servicing, Inc., No. 14-13404, mortgage servicers should be aware that failing to recognize and correct miscalculations of a borrower’s payment may subject them to liability for extreme and outrageous conduct in certain circumstances.
Leaving Real Estate Investment Trusts in the Cold: How the Americold Case Could Preclude Establishing Diversity Jurisdiction in Federal Court
The Supreme Court’s most recent citizenship opinion, Americold Realty Trust v. Conagra Foods, Inc., could make removing or keeping a case in federal court based on diversity more difficult for a statutory trust with a proprietary or complex ownership structure.
On April 19, Lehman Brothers Special Financing (“LBSF”), a subsidiary of Lehman Brothers Holdings Inc. (“LBHI”), filed its opposition to a motion to dismiss its breach-of-contract claims related to the Pyxis transaction, one of many credit-default swap (“CDS”) transactions that were terminated as a result of LBHI’s bankruptcy.
Imagine this scenario: A Bank issues a loan to two co-borrowers. One co-borrower relocates to Massachusetts.
Federal District Court Rules for the First Time That the CFPB Exceeded Its Jurisdiction in Issuing Investigative Demand
On April 21, 2016, a federal district court for the first time issued an order quashing a civil investigative demand issued by the Consumer Financial Protection Bureau (the CFPB).