Banking and Financial Institutions Litigation
Banks and other financial institutions face a dizzying array of legal and regulatory requirements that affect their daily decisions in all areas of operation. The financial crisis provoked new legislation and so many changes that virtually every aspect of banking is now under the microscope. We work with banks, special servicers and other financial institutions in money laundering, regulatory and legal matters including commercial litigation, collections, labor and employment, special/problem asset (loan) remediation, and commercial and multi-family foreclosures in Florida and Alabama.
- Class actions
- Deposit, Payment Systems
- Lending/lender liability
- Commercial litigation
- Consumer litigation, including FCRA, FACTA, FDCPA, TILA, ECOA
- Vendor issues
- IP license/infringement matters
- Prevention (employee education, customer dispute resolution)
- Management (assistance in establishing/monitoring litigation reserves; management of out-of-state litigation)
- Develop/implement compliance policies
- Manage response to document requests/subpoenas
Commercial Foreclosure/Problem Loan Remediation
- Foreclose commercial property
- Deficiency/recovery litigation
Response to Regulatory Inquiry
- Immediate response/interface with regulatory authorities seeking information and documents
- Conduct internal investigations
- Identify/preserve evidence
- Structure/negotiate resolution v. regulatory authorities
- Federal and Florida Unfair Debt Collections Act
- Federal and Florida Consumer Collections Acts
RKC attorneys have experience tracking down and seizing assets to satisfy judgments. We provide services in commercial collections. Much of this work is repetitive in nature, allowing RKC to collect accounts receivable in a cost-effective, efficient manner. We try to resolve many cases through an enforceable payment plan filed with the court. When such resolution is not possible, RKC attorneys aggressively pursue judgments through litigation and enforce those judgments through garnishments and levies.
Representative Matters Include:
- Represented one of the nation's largest banking institutions in the pursuit of injunctions to terminate the activities of a fraudulent arbitration service. The "arbitration service" offered itself as a means of allowing debtors to evade their obligations.
- Represented a major Southeastern banking institution in the defense of lawsuits arising out of mortgage loan disputes.
- A respected Midwestern bank retained RKC to serve as local counsel in litigation brought by over 100 IRA investors, victims of a fraudulent pyramid scheme perpetrated by a now-incarcerated business owner. The victims invested in the fraudulent business through IRAs, for which the bank was mere custodian.
- Represented one of the largest retail banks in the country in fidelity bond litigation (as plaintiff) regarding coverage for employee fraud in warehouse lending facility.
- Defended secured lender in a fraudulent transfer case and two federal court actions related to and arising out of the Louis J. Pearlman bankruptcy cases.
- Represented major regional bank in lawsuit arising out of a customer’s claim against the bank for allegedly permitting unauthorized withdrawals from his checking account.
- Represented Fortune 500 banking institution and obtained appellate ruling affirming that an arbitration clause of a loan agreement containing a class action waiver was enforceable and not in conflict with the Florida Consumer Collection Practices Act.
- Represented regional bank in forbearance and workout with corporate borrowers.
- Represented bank in numerous consumer protection matters involving RESPA, TILA, FCRA/FACTA, ECOA and related statutory and regulatory claims.
- Revised the Anti-Money Laundering Policy of one of the ten largest banks in America. Provided ongoing anti-money laundering and economic sanctions compliance advice to the bank.
- Represented large bank in various workouts, forbearance agreements, collection actions and commercial litigation matters with corporate borrowers and in various bankruptcy cases of commercial borrowers.
- Successfully defended a community bank against allegations of wrongful foreclosure.
- Represented large special servicer in commercial mortgage foreclosure actions throughout Florida.
- Represented a regional community bank in a mortgagors’ Chapter 12 bankruptcy proceeding, keeping the pressure on the mortgagors to comply with their Chapter 12 Plan and ultimately obtaining relief from the automatic stay when they were unable to do so.
- Represented a lender in a lawsuit brought post-foreclosure by the mortgagors seeking return of claimed over-payments; obtained dismissal with prejudice of those baseless claims.
- Represented farm credit bank in various commercial litigation matters, foreclosures and in bankruptcy cases of various borrowers.
- Represented secured creditor and DIP lender in Chapter 11 cases and in various collection and commercial litigation matters with corporate borrowers.
- Represented a community bank in the defense of claims of successor developer liability.
- Represented large regional bank in numerous matters involving deposit accounts, forged instruments, alleged conversion of instruments, alleged breach of duty to prevent misappropriation of funds from deposit accounts, issues involving electronic transfers, etc.
- Represented a credit union on general retainer to assist its General Counsel on issues ranging from payments systems statutes and regulations to negotiation and implementation of vendor contracts.
- Represented one of the largest retail banks in the country in numerous matters involving alleged violations of state-law, consumer collection practices statutes, including class actions.
- Represented one of the largest retail banks in the country in numerous lender-liability matters, including allegations of predatory lending, fraudulent inducement, etc. as well as on numerous real estate mortgage issues, including priority claims made by other lenders.
- Represented lenders in commercial foreclosure/receivership matters and related counterclaims.
- Represented retail bank in numerous class actions involving allegations of violation of state and federal securities laws in the context of Trust Department management of assets.
- Represented a credit union in a putative class action involving ordering of debits of NSF checks in context of allegations of re-ordering to enhance overdraft fees.
- Represented bank in the country in special assets issues, including pursuit of collection from borrowers and repossession of collateral, including intangible property.
- Represented major regional bank in bookkeeper fraud case in which bank customer alleged Bank allowed customer’s bookkeeper to misappropriate more than $6 million over a five and a half year period.
- Represented major regional bank’s trust department in class action securities fraud suit alleging liability from bank’s service as trustee of trusts in which investments were held
- Represented major regional bank in numerous forged signature and endorsement cases under Article 4 Uniform Commercial Code.
- Represented a bank on an interest only loan, underwater by 100%. Found sufficient errors in required financials to mount fraud litigation which led to 100% payoff.
- Represented one of the largest retail banks in the country in defense of intellectual property/infringement claims regarding critical account software.