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The United States Supreme Court indicated that it will review an
opinion from the United States Court of Appeals for the Tenth
Circuit awarding "costs of suit" to a prevailing debt
collector in a Fair Debt Collection Practices Act action. Initially
brought in district court, the district court dismissed a lawsuit
alleging that defendant debt collector had sent unlawful debt
collection "communications" to plaintiff's place of
employment in violation of the FDCPA. Upon dismissal of the case,
the district court awarded costs of suit—but not
attorney's fees—to the prevailing debt collector. On
appeal, the Tenth Circuit affirmed the lower court's decision,
interpreting the FDCPA as distinguishing the award of costs to a
prevailing defendant from an award of attorney's fees. The
Tenth Circuit held that the latter requires a finding that the
plaintiff filed suit "in bad faith," whereas costs could
be awarded to a prevailing defendant regardless of the
plaintiff's motives in bringing suit.
The Supreme Court granted certiorari to decide whether a
prevailing defendant in an FDCPA case may be awarded costs where
the lawsuit was not "brought in bad faith for the purpose of
harassment," a question that has divided the various circuit
courts of appeal
Goodwin Procter LLP is one of the nation's leading law
firms, with a team of 700 attorneys and offices in Boston, Los
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The firm combines in-depth legal knowledge with practical business
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services, intellectual property and products liability.
Recent statements by securities regulators emphasize that financial firms need to move beyond a "culture of compliance" to ensure that investors have a better understanding of risk and the investments they are purchasing.
On March 22, 2013, ISDA published the March 2013 DF Protocol, and on May 20, 2013, ISDA Amend became available to accept Questionnaires under the new Protocol.
A recent FINRA disciplinary action sends a strong message to broker-dealers that the development of their compliance systems—particularly with respect to email review and retention—must keep pace with the growth of their businesses.
At its Twenty-Ninth Meeting to consider rulemaking under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2012 (Dodd-Frank) on May 16, 2013, the U.S. Commodities Futures Trading Commission (CFTC) adopted three final rules that make significant progress towards completing its rulemaking agenda.
