Author - nkolen

Nanci L. Weissgold will participate as a speaker in the IMF Webinar: New Scrutiny: Nonbank Supervision and Enforcement on June 24, 2014. To to learn more about current and future state and federal actions and register for the webinar, please click here.

Recently, some of the world’s most-sophisticated corporate giants have fallen victim to some of the largest data breaches in history. It is clear that cyberattacks are on the rise with unprecedented frequency, sophistication, and scale. They are pervasive across all industries and geographical boundaries.

The problem of cyber risk is exacerbated not only by increasingly sophisticated cyber criminals and evolving malware, but also by the trend in outsourcing data handling, processing, and/or storage to third-party vendors, including “cloud” providers, and by the simple reality of the modern business world, which is full of portable devices that may facilitate the loss of sensitive information. Read More

By: Robert W. Sparkes, III, Brian M. Forbes

When faced with a state court lawsuit, a critical consideration for any defendant is the forum in which to litigate – whether to remain in state court or, if possible, remove the case to federal court. In the case of a putative class action, proceeding in state court under state rules of procedure and other local influences could have significant impact on how the case proceeds. As such, a defendant must first consider whether the claims are removable, and, if removable, what deadline applies to the notice of removal. In assessing the timeliness of removal, a defendant should first look to the statutory deadlines set forth in 28 U.S.C. § 1446(b) (“Section 1446(b)”). However, as the United States Court of Appeals for the Second Circuit recently explained in Cutrone v. Mortgage Electronic Registration Systems, Inc., the provisions of Section 1446(b) do not provide all of the answers.

To read the full alert, click here.

By: Jon Eisenberg

To date, the CFPB has brought 12 cases—out of more than three dozen total CFPB enforcement cases—in which it named individuals as defendants or respondents liable for violations of consumer protection statutes. Below, we consider the standards for individual liability in CFPB cases, the actual cases that have been brought, and 10 lessons that can be drawn from these cases.

To read the full alert, click here.