BANKING LAW
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The Federal Bank Fraud Statute: Loughrin v. United States
April 13, 2014
JURIST Guest Columnists Daniel B. Levin and Victoria A. Degtyareva of Munger, Tolles & Olson LLP discuss the federal bank fraud statute and Loughrin v. United States... Kevin Loughrin and an accomplice used six stolen and altered checks to steal just over $1,000 from a local Target store. They....... [more]

Retailers Need A Rule They Can Count On
April 11, 2014
JURIST Guest Columnists Peter J. Brann, David Swetnam-Burland and Stacy O. Stitham of Brann & Isaacson discuss the patent eligibility of computer-implemented inventions... The US Supreme Court's consideration of the patent eligibility of computer-implemented inventions in Alice Corporation Pty....... [more]

Bank of America ordered to pay $727 million for illegal credit card practices
April 9, 2014
The Consumer Financial Protection Bureau (CFPB) on Wednesday ordered Bank of America to pay $727 million for its illegal credit card practices. The CFPB asserts that Bank of America used deceptive marketing and unfair billing practices in violation of the Dodd-Frank Wall Street Reform and Consumer F....... [more]

France court overturns extradition of former Kazakhstan energy minsiter
April 9, 2014
A French appellate court on Wednesday overturned the extradition of Mukhtar Ablyazov, Kazakhstan's former energy minister accused of misappropriating USD $6 billion from BTA Bank. In January, a French trial court in the Aix-En Province agreed to extradition requests from Russia and Ukraine, both o....... [more]

Supreme Court hears arguments in bank fraud case
April 2, 2014
The US Supreme Court heard oral arguments on Tuesday in Loughrin v. United States, which raises the issue of whether prosecution under the federal government's anti-bank fraud statute requires proof that the defendant intended to defraud the financial institution and expose it to risk of loss. Coun....... [more]

Supreme Court hears arguments in software patent case
March 31, 2014
The US Supreme Court heard oral arguments on Monday in Alice Corp. v. CLS Bank International, which raises the issue of whether certain types of computer software are patent eligible under the Patent Act. Appearing on behalf of the government, US Solicitor General Donald Verrilli argued that the so....... [more]

Five Madoff associates found guilty for connections to Ponzi scheme
March 25, 2014
A federal jury in the US District Court for the Southern District of New York on Monday returned a guilty verdict for five former associates of Bernard Madoff on charges they aided and profited from the Ponzi scheme that defrauded billions of dollars from investors. The former co-workers include: ex....... [more]

France top court jails 'rogue trader' Kerviel, overturns fine
March 19, 2014
France's highest appeals court on Wednesday sentenced former trader Jerome Kerviel to three years in prison for fraudulent covert trading while working for French bank Society Generale (SocGen). The Court of Cassation upheld two lower court verdicts that determined that Kerviel acted without the ba....... [more]

Spill Litigation and Settlements
March 11, 2014
The Oil Pollution Act of 1990 passed both houses of Congress by large margins and was signed into law by President George H.W. Bush in response to the Exxon Valdez spill in Prince William Sound, Alaska. It mandates detailed clean-up plans from oil companies and requires monies to be set aside for de....... [more]

Italy appeals court overturns bank convictions
March 7, 2014
An Italian appeals court overturned the fraud oversight convictions of several banks on Friday. A lower court ruled that JPMorgan Chase & Co., Deutsche Bank AG, UBS AG and Depfa Bank Plc forced the city of Milan to enter into an interest-rate swap agreement that ended up costing the city million....... [more]

Supreme Court rejects challenge to pre-trial asset freeze
February 26, 2014
The US Supreme Court ruled 6-3 Tuesday in Kaley v. United States that a criminal defendant who has been indicted is not constitutionally entitled to contest a grand jury's finding of probable cause underlying a pre-trial seizure of assets. The US Court of Appeals for the Eleventh Circuit ruled again....... [more]




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