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Category: Finance

The Future is Dim for Fair Lending Claims Based on a Discretionary Pricing Policy

On August 14, 2013 by Schnader in Finance

By Stephen A. Fogdall In Rodriguez v. National City Bank, the United States Court of Appeals for the Third Circuit just dealt a significant blow to classwide litigation of fair lending claims based on a bank’s “discretionary pricing policy.”  Such claims have been increasingly common in the aftermath of the 2007-2008 […]

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Lenders may be able to reduce litigation risk by obtaining express consent when a borrower pledges the assets of a wholly-owned subsidiary as collateral

On August 13, 2013 by Schnader in Finance

By Stephen J. Shapiro A recent decision by the United States Court of Appeals for the Third Circuit suggests steps that lenders who accept the assets of a borrower’s wholly-owned subsidiary as collateral should consider taking to reduce the likelihood of litigation in the event the lender must pursue the collateral. […]

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FIRREA Does Not Deprive Courts of Jurisdiction to Rule on Affirmative Defenses to Foreclosure Actions, Holds Pennsylvania’s Superior Court

On August 12, 2013 by Schnader in Finance

By Stephen J. Shapiro The Superior Court of Pennsylvania held last week that federal law does not prevent courts from considering affirmative defenses to foreclosure actions brought by mortgage holders that have acquired the assets of financial institutions placed into receivership. In Sass v. AmTrust Bank, a homeowner refinanced her mortgage […]

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The Enhanced Scrutiny of Class Definitions Under the Ascertainability Requirement: An Additional Hurdle for Plaintiffs or an Increased Burden for Defendants?

On August 9, 2013 by Schnader in Finance

Schnader Alert by Theresa Loscalzo and Ira Neil Richards: This Schnader Alert discusses recent appellate authority on class certification, describing how courts are taking a closer look at whether class members can be identified from the class definition the plaintiff proposes and from the records available to the parties. Please click here to read the […]

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