The Supreme Court recently granted certiorari in Cunningham v. Cornell University to address the pleading standard for prohibited transactions under the Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. § 1106(a)(1)(C).Continue Reading Supreme Court to Review ERISA Prohibited Transactions
A Closer Look: Overdraft Fees Continue to Invite New Legal Challenges and Regulatory Scrutiny
Class-action litigation involving overdraft and nonsufficient funds charges is nothing new to many financial institutions. But in recent years, plaintiffs’ lawyers have shifted tactics and changed the types of practices they are targeting. Financial regulators have also signaled their intention to place increased focus on these charges. Financial institutions should therefore re-examine their account agreements and overdraft disclosure materials to ensure they minimize risk and exposure.Continue Reading A Closer Look: Overdraft Fees Continue to Invite New Legal Challenges and Regulatory Scrutiny