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Orrick, Buckley combine to form financial services and fintech law powerhouse
US Department of Justice to Issue FCPA Guidance in 2012
On Tuesday, the Department of Justice announced that it will offer "detailed new guidance on the [US FCPA's] criminal and civil enforcement provisions" in 2012. In the same conference keynote address, Assistant Attorney General for the Criminal Division Lanny Breuer spoke about a number of...
FCPA ScorecardMichigan Toughens Mortgage Fraud Laws
On October 20, Michigan enacted several new laws aimed at enhancing the state's ability to pursue mortgage fraud and related criminal activity. The centerpiece of the legislative package (SB 43) amends state law, effective January 1, 2012, to create the felony crime of mortgage fraud. The new crime...
InfoBytesFirst Circuit Rules that Stores Should Pay Shoppers' Mitigation Costs for Losing Payment Card Numbers
On October 20, the U.S. Court of Appeals for the First Circuit kept alive a case by holding that, in Maine, customers may bring negligence and implied contract claims against merchants that lose or fail to protect their payment card data and that those customers may recover their reasonably-...
InfoBytesFirst Do No Harm: An Analysis of the Broad Powers of the CFPB
In his remarks at the signing ceremony for the Dodd-Frank Wall Street Reform and Consumer Protection Act, President Obama promised that the arsenal of consumer protections included in the new law would be "enforced by a new consumer watchdog with just one job: looking out for people -- not big...
ArticlesMassachusetts' Highest Court Upholds Dismissal of Purchaser's Try Title Action Because of Defects in Underlying Foreclosure
On October 18, the Massachusetts Supreme Judicial Court held that a homeowner who purchased a property from a foreclosing lender could not establish that he held record title to a property because of defects in the underlying foreclosure. Bevilacqua v. Rodriguez , Slip Op. SJC-10880 (Mass. Oct. 18...
InfoBytesScore Card: Watts Water and Former Employee Settle China-related FCPA Matter with SEC
SEC Cease and Desist Order
FCPA ScorecardWest Virginia Federal Court Holds That A State Debt Collection Law Is Not Preempted Under Dodd-Frank
On October 13, the U.S. District Court for the Southern District of West Virginia held that the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank or Act) did not preempt provisions of the West Virginia Consumer Credit and Protection Act (WVCCPA) that regulate debt collection...
InfoBytesCalifornia Amends Mortgage Loan Originators Licensing Provisions
On October 4, California amended provisions under the California Finance Lenders Law regarding mortgage loan originator licensing. The amendments include the following: (i) allowing the possibility that applicants who have an expunged or pardoned felony conviction can obtain a license, although the...
InfoBytesNew Ethical Issues and Challenges in E-Discovery
The rise of e-discovery and the globalization of electronic information has caused a drastic increase in the ethical issues and challenges attorneys face when compared to the paper world. Attorneys are facing emerging challenges both inside and outside their legal teams, regarding the supervision...
ArticlesNinth Circuit Allows Class Recovery of Cumulative Damages Under FDCPA and California Rosenthal Act
On September 23, the U.S. Court of Appeals for the Ninth Circuit affirmed a district court's decision granting summary judgment to a class of plaintiffs for violations of the Fair Debt Collection Practices Act, 15 U.S.C. § 1692e (FDCPA) and California's Rosenthal Act, Cal. Civ. Code § 1788, et seq...
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