Category Archives: U.S. Supreme Court

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SCOTUS to Resolve Circuit Split Over Dodd-Frank Whistleblowers

On Monday, June 26, 2017, the U.S. Supreme Court agreed to review whether the Dodd-Frank Act (DFA) prohibits retaliation against internal whistleblowers or only covers individuals who report to the U.S. Securities and Exchange Commission (the SEC). This question has divided practitioners and lower courts alike since Dodd-Frank’s passage in 2010. As reported in our … Continue Reading

Resolving the FDCPA Circuit Split: Purchasers, Participles, and Policy

On June 12, 2017, the United States Supreme Court held that purchasers of debts originated by another are not “debt collectors” under the Fair Debt Collection Practices Act (FDCPA). Henson v. Santander Consumer USA Inc., No. 16–349, 2017 WL 2507342 (U.S. June 12, 2017). Justice Gorsuch, in his first opinion, writes the Court found it … Continue Reading

The Supreme Court Agrees to Determine Whether SEC Actions Seeking Disgorgement are Subject to the Five-Year Limitations Period Set Forth in 28 U.S.C. § 2462

At the urging of both an individual petitioner and the SEC, the Supreme Court has agreed to resolve a recent circuit split as to whether the five-year limitations period applicable to SEC enforcement actions applies to the remedy of disgorgement. Kokesh v. SEC, __ S. Ct. __, No. 16-529, 2017 WL 125673 (U.S. Jan. 13, … Continue Reading

In Bartram, Florida Supreme Court Holds That Statute Of Limitations Does Not Bar The Filing Of A Second Mortgage Foreclosure Action

On Nov. 3, 2016, the Florida Supreme Court issued its long-awaited decision in Bartram v. U.S. Bank National Association, No. SC14-1265, 2016 WL 6538647 (Fla. Nov. 3, 2016), bringing much-needed clarity to the outstanding question of whether the dismissal of a mortgage foreclosure action more than five years after it was filed bars the lender … Continue Reading

U.S. Court of Appeals for the District of Columbia Circuit Declared CFPB’s Single-director Structure Unconstitutional

In a 110-page decision issued on Oct. 11, 2016, the United States Court of Appeals for the District of Columbia Circuit declared the Consumer Financial Protection Bureau’s (CFPB) single-director structure unconstitutional and vacated a $103 million fine against PHH.  The Court found that the current structure allows the Commissioner to wield too much power that … Continue Reading

Tyson Foods, Inc. v. Bouaphakeo: Supreme Court Upholds Use of Statistical Evidence in Class Actions

This week, the Supreme Court issued its decision in Tyson Foods, Inc. v. Bouaphakeo,  577 U. S. ___(2016). The key issue addressed is whether class certification was proper in a FLSA case where the methodology used to establish damages was determined by expert sampling and assumptions about how long it would take certain categories of … Continue Reading

SCOTUS Decision Affects Diversity Jurisdiction of Business Trusts

Many registered investment companies and real estate investment trusts are organized as business trusts.  Certain states, such as Maryland, Delaware, and Massachusetts have been hospitable to such entities, and therefore are home to many of these entities.  In some states, such as Massachusetts, the entities are formed as common-law trusts, while in others there is … Continue Reading

Campbell-Ewald v. Gomez: Unaccepted Offers of Judgment Do Not ‘Moot’ a Claim, But Ruling Leaves Door Open For Offers Accompanied by Tender

Last week, the Supreme Court issued its much anticipated decision in Campbell-Ewald Co. v. Gomez, 577 U.S. ___ (2016). In a 6-3 opinion, Justice Ginsburg, writing for the majority, held that an unaccepted Rule 68 offer of judgment does not “moot” a claim because “[u]nder basic principles of contract law,” an offer without acceptance is a … Continue Reading

Midland Credit Seeks SCOTUS Review of 2d Circuit Ruling that Significantly Impairs National Banks’ Ability to Sell Loans at Note Rate

On Nov. 9, 2015, Midland Credit Management, Inc., petitioned the Supreme Court to review the Second Circuit’s decision in Madden v. Midland Credit Management, which held that a loan is no longer protected from state usury laws under the National Bank Act (NBA) once it is sold. Midland Funding, a debt purchaser and servicer, purchased charged-off … Continue Reading

Spokeo Oral Argument Before the U.S. Supreme Court

Last week, the US Supreme Court heard arguments in one of the most closely watched cases of this term, Spokeo, Inc. v. Robins, a putative class action seeking statutory damages for an alleged violation of the Fair Credit Reporting Act (“FCRA”). The plaintiff, Robins, alleged that Spokeo, which operated a “people search engine” that aggregates … Continue Reading

Recent Supreme Court Decisions Impacting Federal Regulatory and Administrative Law Issues

Financial firms and their regulators can be significantly affected by U.S. Supreme Court decisions, particularly those that address matters relating to federal administrative law. As the Supreme Court begins a new term, its docket includes several cases that could have significantly impact litigation involving the Administrative Procedure Act and other federal regulations.  Last term, the … Continue Reading
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