Diana Karnes

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The Latest Alleged Wells Fargo Scandal – Imposing Unnecessary Auto Insurance on 800,000 Unsuspecting Customers

On July 30, 2017, Wells Fargo & Co. customers filed a putative class action lawsuit alleging the bank forced them to pay for unnecessary auto insurance, which resulted in some members of the purported class having their vehicles repossessed. The lawsuit, Hancock v. Wells Fargo & Co., et al., 17-cv-04324, U.S. District Court, Northern District … Continue Reading

U.S. Supreme Court Holds Municipality Can Sue Banks for Financial Injuries Under the Fair Housing Act, but Whether There is Proximate Cause is for Another Day and Another Court

In a 5-3 decision in Bank of America Corp. et al. v. City of Miami, Florida (No. 15-1111 and No. 15-1112, May 1, 2017), the United States Supreme Court held that the City of Miami (“City”) was an “aggrieved person” authorized to bring suit under the Fair Housing Act (the “FHA”) for predatory lending by … Continue Reading

Under Trump Administration, Dodd-Frank and the CFPB Continue to Face Challenges

The Dodd-Frank Wall Street Reform and Consumer Protection Act, or Dodd-Frank, was enacted in 2010 in response to the financial crisis. Through Dodd-Frank, the Consumer Financial Protection Bureau (the CFPB) was created. The CFPB has the authority to pursue actions against financial institutions for unfair or deceptive practices. For instance, it was the CFPB that … Continue Reading

Investors Contend “Smoking Gun” Evidence is the Silver Bullet Against Financial Institution Defendants in Silver Rigging Case

The plaintiffs in a multidistrict silver rigging case pending in New York, In re: London Silver Fixing Ltd. Antitrust Litigation (S.D.N.Y., Case No.: 1:14-md-02573), have sought to amend their complaint based on newly acquired “smoking gun” evidence concerning an alleged conspiracy by certain financial institutions to rig the price of silver and silver related financial instruments. With … Continue Reading
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