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ABA's Status of Important Banking Cases
February - March 2008

Status of Important Banking Cases

Page 18

Significant decision from the Ninth Circuit affirming HOLA preemption, Silvas v. E*Trade Mortgage Corporation.
 

Page 26

Settlement preliminarily approved in the TJX data breach litigation.
 

Page 28

Supreme Court issues opinion regarding the deductibility of investment advisory fees, Knight v. Commissioner of Internal Revenue.
 

Page 30

California court re-affirms that SLUSA bars class actions by private parties based on state law based on an alleged misrepresentation or omission, Wells Fargo v. Superior Court (Richtenberg).
 

Page 36

Supreme Court rejects “aid or abetting” theory of liability in suits brought pursuant to Section 10(b) of the 1934 Securities Exchange Act of 1934, Stoneridge Investment v. Scientific Atlanta, Inc.
 

Page 40

City of Cleveland sues over subprime lending, City of Cleveland v. Deutsche Bank Trust Company.
 

Page 40

State of Massachusetts obtains injunction in subprime lending case, Commonwealth of Massachusetts v. Fremont Investment and Loan.
 

Page 43

ABA files amici brief with the Supreme Court concerning the banking industry’s need for certainty concerning tribal court jurisdiction, Plains Commerce Bank v. Long.

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