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Category: Finance

Pennsylvania’s Superior Court Addresses the Format and Location of Confession of Judgment Clauses

On September 12, 2013 by Schnader in Finance

By Stephen J. Shapiro The Pennsylvania Superior Court recently rejected a debtor’s attempt to escape from three confessed judgments by challenging the format of the confession of judgment clauses at issue. In First National Community Bank v. The Powell Law Group, P.C., the defendant law firm guarantied the repayment of three […]

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The CFPB Offers Guidance to Companies that Furnish Information to Consumer Reporting Agencies

On September 11, 2013 by Schnader in Finance

By Edward J. Sholinsky On September 4, 2013 the Consumer Financial Protection Bureau issued Bulletin 2013-09, which addresses the obligation of “furnishers” under the Fair Credit Reporting Act (FCRA) to investigate disputed information in a consumer’s credit report. When, under FCRA, a consumer disputes adverse information on his or her credit […]

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Third Circuit Predicts Punitive Damages Available Under the Pennsylvania Uniform Fraudulent Transfer Act

On September 10, 2013 by Schnader in Finance

By Edward J. Sholinsky The United States Court of Appeals for the Third Circuit has predicted that the Pennsylvania Supreme Court would hold that punitive damages are available in cases under the Uniform Fraudulent Transfer Act (UFTA). The court in Klein v. Weidner, reasoned that even though the UFTA does […]

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In data breach case, Fifth Circuit says New Jersey’s economic loss doctrine does not bar negligence claim by credit card issuers

On September 5, 2013 by Schnader in Finance

By Stephen J. Shapiro In 2008, hackers compromised the network of Heartland Payment Systems, a company that processes credit card transactions, and obtained access to the personal data of millions of credit card holders. Not surprisingly, the incident led to a slew of litigation, including a lawsuit filed in federal court […]

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