Compliance question of the month: June 2025

Supreme Court of Ohio reversed an Ohio appellate court decision that ruled a creditor has no duty to disclose facts that materially increase a surety’s risk.

ABA filed a coalition amicus brief urging the New Jersey Supreme Court to uphold a lower court ruling that barred Edelweiss, a private investment fund, from bringing a qui tam suit based on publicly disclosed information.

A North Carolina federal court partially sustained Bank of America’s objections to a magistrate judge’s recommendation allowing a proposed class action over alleged Zelle fraud to proceed, determining the lawsuit fails to plausibly plead claims under any state...

Fourth Circuit panel affirmed the district court’s ruling that the SBA properly concluded PACEM’s $5 million loan was ineligible for COVID-19 debt relief under the CARES Act.

CFPB previously sued Early Warning Services LLC over Zelle fraud allegations, but the new administration dropped the lawsuit. NYAG now similarly sues EWS over its Zelle protocols. 

In a unanimous decision, a Second Circuit panel upheld a Southern District of New York order granting class certification to American cities and others accusing eight banks of inflating interest rates on VRDOs.