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Posts tagged as “Second Circuit”

2nd Cir. Reverses Class Settlement Citing Various Errors Under Rule 23, CAFA

The U.S. Court of Appeals for the Second Circuit recently reversed a trial court's approval of a settlement in a class action case because the trial court presumed the fairness, adequacy, and reasonableness of the proposed settlement on the grounds the settlement was negotiated to at arm's-length failed to assess the fairness, adequacy, and reasonableness of the agreed to attorneys’ fees and incentive payment, and erred in determining the class relief did not constitute "coupons" under the federal Class Action Fairness Act (CAFA).

The CFPB Funding Structure Is Constitutionally Sound Says 2nd Circuit

A three-judge panel of the U.S. Court of Appeals for the Second Circuit handed down a decision on March 23 holding that the funding mechanism for the federal Consumer Financial Protection Bureau is constitutionally sound. In doing so, it “respectfully decline[d] to follow the Fifth Circuit’s decision” in Cmty. Fin. Servs. Ass'n of Am., Ltd. v. CFPB.

2nd Cir. Affirms Dismissal of RICO, Antitrust, Other Claims Arising from Alleged LIBOR Manipulation

After nearly a decade of litigation, the U.S. Court of Appeals for the Second Circuit recently affirmed the dismissal of a putative class action brought against more than 20 international financial institutions alleging a conspiracy to manipulate Yen-LIBOR and Euroyen TIBOR rates.

2nd Cir. Rejects Standing, Conflict of Interest, Service Award, and Other Objections to Class Settlement Against Student Loan Servicer

The U.S. Court of Appeals for the Second Circuit recently affirmed a trial court’s certification and approval of a class settlement involving claims by student loan borrowers against their loan servicer.

2nd Cir. Upholds Dismissal of TCPA ‘Unsolicited Advertisement’ Putative Class Action

The U.S. Court of Appeals for the Second Circuit recently affirmed the dismissal of a putative class action alleging that an unsolicited faxed invitation to participate in a market research survey in exchange for money was an "unsolicited advertisement" under the federal Telephone Consumer Protection Act.

2nd Cir. Holds De-Acceleration of Mortgage Loan Does Not Require Voluntary Discontinuance of Foreclosure Action

The U.S. Court of Appeals for the Second Circuit recently vacated a trial court's grant of summary judgment to the plaintiff in an action to quiet title for a property subject to a mortgage. While the appeal was pending for this matter, an intervening ruling in the New York Court of Appeals undermined the reasoning of the trial court. Therefore, the Second Circuit vacated the trial court’s judgment and remanded the case for further proceedings.

2nd Cir. Holds No FDCPA Violation When Debt Settlement Offer Did Not Disclose Accruing Interest and Fees

The U.S. Court of Appeals for the Second Circuit recently held that a collection notice that provided settlement payment options but did not state that the balance may increase due to interest and fees, did not violate the Fair Debt Collection Practices Act’s prohibition against false, deceptive, or misleading representation or means in connection with the collection of any debt.