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Legal
KBA Legal department works diligently to keep you advised of legal challenges and rulings that impact our industry and to represent the industry in litigation, when appropriate, to ensure that court considers the impact of certain issues on the industry as a whole.
If you have questions, please contact Debra Stamper at 502-582-2453 or by email at dstamper@kybanks.com.
News
February 13, 2012
Please let me know if you have been involved in an ATM disclosure lawsuit filed by Nancy Kinder or others.
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February 10, 2012
A mortgage servicing subsidiary of Bank of America Corp. agreed to settle Federal Trade Commission charges that it illegally assessed more than $36 million worth of fees against struggling homeowners, in violation of an earlier settlement with the FTC.
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January 06, 2012
A payment processor and two of its principals are now banned from using a new payment method to process electronic payments under a settlement with the Federal Trade Commission, which resolves charges that they debited consumers' bank accounts without their consent.
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November 23, 2011
The National Retail Federation has filed suit against the Federal Reserve Board. The claim is that the debit interchange fee cap is not reasonably related to the cost of the transaction.
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November 03, 2011
The Office of the Comptroller of the Currency announced that the independent foreclosure review required under the agency’s enforcement actions taken in April 2011 has begun.
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August 05, 2011
Bank Overdraft website.
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August 05, 2011
A lawsuit was recently filed against one of our member banks challenging its method of charging overdraft fees on debit transactions.
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August 02, 2011
As I advised last week, the Department of Revenue amended their form 62A863, "Financial Institutions Local Summary Report," on 08/2010 to require an attached schedule of "Deposits of religious and charitable institutions."
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August 02, 2011
Some banks still use the 365/360 method of interest calculation. There are a growing number of cases successfully challenging this method of calculation, although there are no published opinions addressing this issue in Kentucky.
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August 02, 2011
The trend has made it to Kentucky...a plaintiff's attorney--Geoffrey Bestor of DC--using a named plaintiff--Nancy Kinder of Michigan--seeking a class action against at least four of our members for violations of EFTA and the requirement that certain disclosures be given on/at the ATM.
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