Financial Services Litigation

Overview

Eckert Seamans’ Financial Services Litigation Group has wide-ranging experience assisting national and regional financial services companies in a variety of matters affecting the financial industry. From handling individual claims to managing nationwide class actions, our team of experienced litigators regularly advise and defend banks, mortgage lenders and brokers, loan servicers, credit card companies, debt collectors, consumer finance companies and other financial institutions in a variety of disputes in state and federal courts and in arbitration, as well as before government agencies.

Eckert Seamans’ financial services litigators have experience in nearly every facet of financial institution litigation. Examples of significant, ongoing representations we routinely handle for clients include:

  • Truth in Lending Act;
  • Real Estate Settlement Procedure Act;
  • Unfair Trade Practices Statutes;
  • Fair Credit Reporting Act;
  • Fair Debt Collection Practice Act;
  • Retail Installment Sales Act;
  • Consumer Sales Practices Act;
  • Electronic Funds Transfer Act;
  • Claims involving Articles 3, 4 and 9 of the UCC;
  • Mortgage lending, loan servicing and credit reporting;
  • Bankruptcy, creditors’ rights, consumer privacy;
  • Claims arising out of foreclosures, including deficiency judgment collections;
  • Fraud, breach of contract and tortious interference;
  • Commercial and ground lease disputes;
  • Forgeries, stolen checks, alterations, fraudulent indorsements, imposters, fictitious payees and wrongful dishonor of checks;
  • Breaches of affirmative covenants, negative covenants and financial covenants including tangible net worth, debt service coverage ratios, debt to EBITDA ratios and debt to equity ratios in loan documents.

Our practice involves much more than litigation. We also assist clients in pre-suit activities, such as workouts, internal investigations, development of internal company procedures and advice about avoidance of litigation risk.

Our Financial Services clients also benefit from a variety of other Eckert Seamans resources. Our Corporate and Financial Transactions and Real Estate Finance practices also bring substantial knowledge of the complex regulatory and business environment in which our clients operate. Our trial lawyers collaborate very closely with the firm’s interdisciplinary team of corporate lawyers, who have domestic and international experience advising all types of financial institutions on financing, corporate, transactional, regulatory, tax and workout matters.

News & Insights

Legal Updates:

Second Department Erodes “Willful Neglect” Standard in Reforeclosures Causing Confusion and Consternation

Long Island Courts At Odds With NYC Courts Regarding Reach of State COVID-19 Eviction Protections

Chief Administrative Judge of the New York Courts Issues AO 262/21 in Response to Recently Enacted Extension of the COVID-19 Emergency Eviction and Foreclosure Prevention Act

New York Extends COVID-19 Eviction & Foreclosure Hardship Stay Until January 15, 2022

Second Department Leaves Open the Door to a Third Party Interposing the Statute of Limitations as a Defense to Foreclosure Creating Potential Peril for Lenders

Second Department Rules that Governor Cuomo’s COVID-19 Executive Orders “Toll” Filing Deadlines

New York Extends Eviction & Foreclosure Hardship Stay Until August 31, 2021

High Court Answers Open Questions Concerning RPAPL 1304 and 1306

Consumer Protection Law Ruling Could Spell Big Trouble for Pennsylvania Businesses

Discontinued and Revoked: Court of Appeals Changes Landscape of Foreclosure Statute of Limitations Jurisprudence in Reversing Quartet of Appellate Division Cases

Appellate Division, Second Department Clarifies Law Concerning a Lender’s Revocation of Acceleration in Foreclosure and Confirms the Sanctity of Settlement

Citimortgage v. Ramirez: Appellate Division, Third Department, Holds Statute of Limitations on Note Suit is Tolled During Pendency of Foreclosure Action

Chief Administrative Judge of the New York Courts Issues Guidance Relating to Recently Enacted Emergency Eviction and Foreclosure Prevention Act

New York Passes COVID-19 Emergency Eviction and Foreclosure Prevention Act: Effect on Prosecuting Foreclosures in New York

Second Circuit Court of Appeals Holds that Assignee of Federal Agency is Immune from Application of New York Statute of Limitations on Mortgage Foreclosure

Appellate Division Interprets RPAPL 1302-a for the First Time in a Decision with Important Implications for Mortgage Servicers

News:

Best Law Firms 2019: U.S. News – Best Lawyers again ranks Eckert Seamans among the nation’s top law firms

Eckert Seamans welcomes Jack Cobetto to Pittsburgh office and Financial Services Litigation Group

Eckert Seamans announces new leadership roles

Eckert Seamans welcomes Geraldine A. Cheverko to White Plains office

Eckert Seamans welcomes Richard J. Nalbandian to Philadelphia office

Eckert Seamans welcomes Keith M. Ferguson, Jr., to White Plains office