ABI

JANUARY 19, 2024

1] The safe harbor rule set out in Section 546(e) of Title 11 of the United States Code (the “Bankruptcy Code”) provides, in part, that a trustee may not avoid a transfer made before the commencement of the case in connection with a securities contract, as defined in Section 741(7), made by, to, or for the benefit of a financial institution. [2]

Bankruptcy 40

Bankruptcy Financial Institution Loans Banks 40

Troutman Sanders

AUGUST 22, 2022

District Court for the Central District of California entered an order, authorizing the IRS to serve a John Doe summons on SFOX, a Los Angeles-based cryptocurrency broker, to produce trading records for SFOX users who conducted trades totaling at least $20,000 between 2016 and 2021. For more information, click, here. On August 15, the U.S.

Financial services 52

Financial services Financial Institution Trade Banks 52

Fico Collections

MARCH 10, 2022

The majority prefer text (43%) while another 17% prefer email, despite security flaws described as early as 2016. Brazil, by comparison, is far more diverse; 28% prefer a text message, 30% prefer a bank app, and 12% prefer a 3rd party messaging app to verify payments. But payment verification preferences vary significantly by country.

Financial Institution 52

Financial Institution Banks 52

Troutman Sanders

OCTOBER 15, 2021

Lawyers for victims of wire fraud frequently file lawsuits against the financial institutions involved, alleging common law negligence outside of the actual wire transaction itself to avoid the pre-emption challenges. LEXIS 35604 at *11-12. [5] 3:15cv051, 2016 U.S. 24, 2016). [6] LEXIS 35604 (11th Cir. 3] See Fla.

Lawyers 52

Lawyers Banks Financial Institution Education 52

Consumer Financial Services Law

JANUARY 24, 2017

First, TCF customers who opened accounts online between 2010 and 2016, with no face-to-face interaction with TCF employees, opted in to TCF’s overdraft protection at a consistent rate of over 60%. See 12 CFR 1005.17. TCF further asserts that the complaint is contradicted by two key facts.

Banks 40

Banks Financial Institution 40

FDCPA Defense

JANUARY 22, 2017

Attorneys who collect for national banks, debt buyers or other financial institutions have been regular targets in FDCPA class actions. 2016) (granting summary judgment for plaintiff in FDCPA class action where defendant’s letter failed to specifically identify the name of the current creditor); Avila v. 2016 WL 154090 (E.D.N.Y

Collections 40

Collections Judgment Creditors Law Firms 40

Collection Industry News

AUGUST 23, 2022

Financial institutions that provide services to consumers are subject to the requirements of the Gramm-Leach-Bliley Act (GLBA). 5 Such harms are not reasonably avoidable to consumers, as information security programs are controlled or implemented by the financial institution, and the consumer has little say over these programs.

Financial Institution 40

Financial Institution Trade Collections Financial services 40