Watch Out for Shareholder Suits Spawned by CFPB Settlements - News, Articles, and Events

Watch Out for Shareholder Suits Spawned by CFPB Settlements

Michael W. Jahnke | Michael A. Thurman

January 17, 2013 | American Banker

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Piggyback litigation is common after regulatory actions, including those by the Federal Trade Commission, the Securities and Exchange Commission, and the Department of Justice, and is now emerging in the context of Consumer Financial Protection Bureau investigations. This article examines the trends in this new version of follow-on litigation, and cautions that the potentially huge number of companies subject to Bureau oversight should be mindful of second-stage exposure to private litigation as they evaluate their compliance readiness.

This article was first published in the January 17, 2013 issue of American Banker. Permission for article reprint has been granted.

Michael Jahnke and Michael Thurman are partners at Loeb & Loeb LLP. Partner Michael Mallow contributed to this article.

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