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USA - October 15 2012
New York’s highest court dismissed claims brought by a noteholder alleging that actions taken by the collateral managers of the noteholder’s structured investment vehicles breached their fiduciary duties.
USA - June 5 2012
The Third Circuit Court of Appeals has dismissed a putative nationwide class action alleging that the retailer Tommy Hilfiger U.S.A., Inc. (“Hilfiger”) violated the Fair and Accurate Credit Transactions Act (“FACTA”) when it printed the expiration month of consumers’ credit cards on receipts.
USA - December 1 2011
A Pennsylvania federal district court has dismissed a petition by Royal Bank America (“Royal Bank”) to vacate an arbitration award that allegedly awarded its former executive a “golden parachute” payment in violation of in the Troubled Assets Relief Program (“TARP”).
USA - September 13 2011
The New York Appellate Division, Second Department, has held that a lender does not have standing to commence a foreclosure action when the lender’s assignor was listed in the underlying mortgage instruments as a nominee and mortgagee for the purpose of recording, but never actually held the underlying notes.
USA - June 20 2011
The Federal Reserve System, the Office of the Comptroller of the Currency and the Office of Thrift Supervision (the “agencies”) recently released a joint report summarizing their findings from on-site reviews of 14 federally regulated mortgage servicers, resulting in consent orders being signed by the mortgage servicers and respective parent holding companies agreeing to remedial actions.
