Last week, the United States Court of Appeals for the Eleventh Circuit affirmed the $380.5M settlement in the Equifax data breach class actions – a settlement which the district court called “the largest and most comprehensive recovery in a data
Southeast Financial Litigation Monitor
Legal Developments Affecting the Financial Services Industry in Alabama, Florida, Georgia & Mississippi
The Southeast Financial Litigation Monitor, published by Balch & Bingham LLP, focuses on legal developments and litigation trends in the financial sector within the southeastern United States. The blog covers topics such as class action settlements, data breach litigation, banking and loan collection disputes, statutory limitations, and procedural issues in financial litigation. It provides analysis of court decisions affecting financial institutions, including standing requirements, class certification standards, and regulatory impacts. The blog also addresses emerging challenges for lenders and borrowers, offering insights into evolving case law and its implications for financial services and litigation strategy.
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Latest from Southeast Financial Litigation Monitor
Bank Entitled to Pursue Claim for Longer Statute of Limitations on Loan
Under Alabama law, the statute of limitations for an “open account” is shorter (3 years) than for an “account stated” or breach of contract claim (6 years). In Cadence Bank, N.A. v. Robertson, No. 1190997, 2021 WL 1230165 (Ala. Apr.…
The Eleventh Circuit Continues to Build on Article III Standing Requirement
In early November, we wrote about a new Eleventh Circuit decision on Article III standing law which directly held that it was not enough to allege a statutory violation and instead there must be a concrete injury to sustain an…
Eleventh Circuit Reverses Course on Ascertainability Standard in Class Actions; Turns Tide in Plaintiffs’ Favor
This Tuesday, the United States Court of Appeals for the Eleventh Circuit reversed course on an emerging trend of case law concerning the ascertainability standard for class actions under Fed. R. Civ. P. 23, holding proof of administrative feasibility in…
Cut them off at the Past – New COVID Stimulus Package Should Foreclose Any Possibility of Plaintiff Victory in Agent Fee Class Actions
Last night, Congress passed a new COVID-19 stimulus package containing an important amendment to the CARES Act which should foreclose any possibility the Plaintiffs in the Agent Fee class actions currently pending across the country can successfully argue banks must…
Banks Headed for Total Victory in Agent Fees Class Actions
Twice this year, Balch & Bingham reported on the wave of “Agent Fee” class actions against lenders who made PPP loans under the CARES Act. At one point, there were over sixty such lawsuits spread across the federal courts, alleging…
Alabama Court of Civil Appeals Doubles Down on “Strict Compliance” with Notice Provisions of Standard Mortgage’s Paragraph 22
This past June, in Barnes v. U.S. National Bank, No. 2180699, the Alabama Court of Civil Appeals held that a mortgagee’s notice of acceleration failed to strictly comply with the notice provisions contained in Paragraph 22 (“Paragraph 22”) of the…
Tennessee Court of Appeals Becomes First Appellate Court to Affirm Dismissal of Class Action Challenging Multiple “Overdraft” or NSF Fees for Same Transaction or “Item.”
Earlier this year, Balch & Bingham reported on the dismissal of one of the first class actions challenging financial institutions for charging multiple “overdraft” or not sufficient funds (“NSF”) fees for the same transaction or “item.” In these cases, Plaintiffs…
Giving Teeth to Article III Standing Requirements in the Eleventh Circuit.
The federal courts have been struggling for several years to clarify Article III standing law. Is it enough that a plaintiff satisfy the elements of a federal consumer protection statute? Is it enough that a data breach have happened? Or,…
RETREAT! “Agent Fee” Class Actions Moving Against Plaintiffs
Earlier this year, Balch & Bingham reported on the wave of “Agent Fee” class actions against lenders who made PPP loans under the CARES Act. At one point, there were over sixty such lawsuits, spread across the federal courts, alleging…