Banking Law

1266 ABA Journal Banking Law articles.

Mueller reportedly subpoenaed Deutsche Bank for information on its business dealings with Trump

Updated: Special counsel Robert Mueller reportedly subpoenaed Deutsche Bank for information on accounts related to its business with President Donald Trump and his family.

The subpoena was issued several weeks…

Dec 5, 2017 10:46 AM CST

Lawyer and the payday lender he advised are convicted

A corporate and banking lawyer has been convicted of racketeering conspiracy along with the payday lender he advised on how to avoid state caps on loan interest rates.

Federal jurors…

Nov 28, 2017 12:16 PM CST

Congress overturns consumer bureau rule limiting mandatory arbitration in bank contracts

Vice President Mike Pence cast a tie-breaker vote in the Senate on Tuesday to overturn a rule to limit mandatory arbitration clauses in contracts between consumers and financial institutions.

Oct 25, 2017 8:52 AM CDT

Federal judge refuses to toss shareholder suit against Wells Fargo executives

A federal judge in San Francisco has refused to toss a shareholder lawsuit against executives and directors of Wells Fargo over sales pressures that led employees to open millions of…

Oct 5, 2017 1:12 PM CDT

800,000 student loans to be audited under proposed settlement; lender would pay at least $19M

The largest holder of private student loans has agreed to an audit of all of its 800,000 loans in a proposed settlement with the Consumer Financial Protection Bureau.

Sep 20, 2017 10:30 AM CDT

Federal judge calls out law firm for ‘cleverly’ using ellipses

A California law firm was unable to persuade a federal judge in Santa Ana that the Consumer Financial Protection Bureau had gone on an “impermissible fishing expedition” in seeking the…

Aug 30, 2017 7:00 AM CDT

Lawyers would have to provide more trust account information in measure passed by ABA House

Lawyers would have to provide more information about trust accounts in which they hold the funds of other people according to model rule changes approved by the House of Delegates on Monday.

Aug 14, 2017 1:04 PM CDT

Debt collection law firm pays $1M in restitution to settle state suit

The largest debt collection law firm in Massachusetts has agreed to pay $1 million and to change its practices to settle a lawsuit filed by the state.

Lustig, Glaser &…

Jul 28, 2017 10:50 AM CDT

Missing paperwork could wipe out billions in private student loan debt

One of the largest owners of private student loans is struggling to show it has the necessary paperwork to prove ownership of loans that have gone into collection.

Tens of thousands of people whose loans are held by National Collegiate Student Loan Trusts could have their debts wiped out because of the missing paperwork, the New York Times DealBook blog reports.

Jul 18, 2017 9:58 AM CDT

Judge tosses CFPB suit claiming Kentucky law firm paid kickbacks through joint-venture title firms

A federal judge has sided with a Kentucky law firm sued by the Consumer Financial Protection Bureau for alleged kickbacks for real-estate work referrals.

U.S. District Judge Charles Simpson III…

Jul 17, 2017 11:27 AM CDT

Mayer Brown isn’t liable for $1.5B error that erased security interest in loan, 7th Circuit holds

Mayer Brown isn’t liable for a paralegal’s error that canceled a security interest in a $1.5 billion loan to General Motors because the law firm didn’t represent the lenders, according to a federal appeals court.

Jul 5, 2017 8:00 AM CDT

Cities need more than foreseeable damages to file fair housing cases against banks, SCOTUS says

When determining if a municipality meets the Fair Housing Act’s definition of an “aggrieved person” for litigation, courts must determine if there’s a direct relationship between alleged conduct and actual…

May 1, 2017 11:38 AM CDT

Wells Fargo lawyers focused on managing risks rather than possible illegal pattern, report says

Wells Fargo’s legal department failed to appreciate the seriousness of high-pressure sales goals that led to the creation of unauthorized customer accounts, according to a report released on Monday by…

Apr 10, 2017 1:25 PM CDT

Law deans were unaware of judge’s largesse in wrongful foreclosure case

Some law deans were surprised to learn that a federal bankruptcy judge had decided to give their schools $4 million each in punitive damages awarded in a California couple’s wrongful…

Mar 30, 2017 10:46 AM CDT

JPMorgan Chase uses tech to save 360,000 hours of annual work by lawyers and loan officers

JPMorgan Chase has found a way to save on legal spending.

The bank is using new software called “COIN”—short for Contract Intelligence—to review commercial loan agreements, according to Bloomberg…

Mar 2, 2017 7:45 AM CST

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