Banking Litigation

Overview

The legal risks facing banks and other financial institutions have never been more significant than they are today. As the financial industry becomes more complex, you need counsel who stays on top of the latest legal and regulatory developments to be your guide.

Our banking litigation attorneys assist financial institutions of every size and scope throughout the country with litigation, dispute resolution, and regulatory matters. Highly knowledgeable regarding the industry’s regulatory and financial requirements, our litigation attorneys provide practical insight into the dynamic commercial and regulatory environment in which our clients operate. Our team includes people who have “been there” in the banking world.

Our attorneys advise and defend financial institutions in response to regulatory enforcement actions, including those brought under the Dodd-Frank Wall Street Reform Act ("Dodd-Frank"); the Financial Institutions Reform, Recovery, and Enforcement Act ("FIRREA"); the Bank Secrecy Act; and the various federal and state anti-money laundering laws and regulations.

In addition, our white collar and internal investigations team includes more than 20 former Department of Justice attorneys and judges with unique experience, knowledge, contacts, and insight.

We’ve conducted hundreds of investigations, including internal investigations, criminal and regulatory investigations, and congressional inquiries, and defend, if necessary, financial institutions against whistleblower accusations or self-discovered misconduct. Our ongoing ties to prosecutorial agencies at the federal and state level help us provide proactive counseling to clients as they assess various approaches to risk management and regulatory compliance requirements.

How Can We Help

We represent state and nationally chartered banks as both plaintiffs and defendants in a wide variety of complex commercial litigation matters, including:

Lender liability claims
Consumer fraud class actions
Civil Racketeer Influenced and Corrupt Organizations Act (“RICO”) claims
Fraud and breach of fiduciary duty claims
Derivative instruments claims

Interest rate swap agreements
Commercial real estate foreclosures and disputes
Uniform Commercial Code (“UCC”) matters
General contract and business tort litigation

Further, our litigators have substantial experience representing banking and other corporate clients in the areas of trade secret protection and restrictive covenants, data security, and intellectual property.

What Sets Us Apart

Our litigation team is comprised of nearly 20 former Department of Justice attorneys and three former judges and many of the team members are members of the prestigious American College of Trial Lawyers.
We are ranked in 2021 U.S. News & World Report–Best Lawyers^® (Woodward/White Inc.) as Tier 1 for Banking and Finance Law nationally and in Philadelphia and for Litigation - Banking & Finance in Philadelphia. We are also regionally ranked for Banking and Finance Law in Washington, D.C.
2020 Chambers USA ranked the firm Tier 1 in Philadelphia (PA) and Surrounds for Banking & Finance.
Chamber USA editors remarked: “The litigation team was excellent. Each of the lawyers brought a very interesting element to the team and they blended together well. They were great and I would highly recommend them!"
Law360 named Blank Rome a 2017 “Pennsylvania Powerhouse” and recognized “its prolific national litigation practice and deep bench strength.”
Our financial services industry team knows the inner workings of the SEC, the OCC, the FDIC, and the OTS and one of our government relations principals is the former legislative counsel to the U.S. Senate Banking and Governmental Affairs Committee.
Our attorneys hold leadership positions in several financial services industry trade groups and legal organizations and are frequently called upon to speak to organizations such as the Mortgage Bankers Association, Commercial Finance Association, and the Equipment Leasing and Finance Association.

Key Contacts

Related Industries

Financial Services

Experience

Successfully represented a national banking institution in a claim by a commercial borrower in a fraud and breach of contract action brought in the Napa County Superior Court. The alleged fraud involved the sale of an interest rate swap agreement in connection with a commercial loan for a commercial property. After a demurrer and initial discovery that focused the plaintiff’s viable claims to a very narrow set of facts which were easily disprovable, the parties negotiated a settlement that was favorable to the client.
Successfully represented a multi-state community bank in an unfair competition, Lanham Act, and false advertising case, in which the bank had inadvertently published misleading advertisements about financial stability, securing in a favorable settlement after successfully obtaining an order striking the only declaration supporting the plaintiff’s damages claims.
Successfully represented a financial services institution in lender liability suit related to the plaintiff’s failed purchase and sale of a distressed promissory note in which the plaintiff alleged that the bank breached the purchase and sale agreement by delaying the approval of participating banks. After successfully defeating several claims at the summary judgment stage, as well as a request for a jury trial, the case went to trial before a judge on only one claim for breach of the implied covenant of good faith and fair dealing.
Successfully obtained summary judgment in favor of a bank client, defeating lender liability claims of borrower in foreclosure action involving $136 million loan for construction of a hotel in Manhattan. Also convinced the Court to appoint a receiver to work with the client to complete construction of the hotel.
Successfully represented a professional services auditing company in a class action in which it allegedly failed to detect and report issues related to the financial stability of the bank. This action resulted in a favorable settlement after motions for summary judgment and Rule 11 sanctions were filed on behalf of our client.
Successfully obtained dismissal of consumer class action case against a mortgage servicing entity, which involved claims related to a Ponzi-scheme.
Intervened on behalf of a financial services institution in a Dodd-Frank enforcement proceeding brought by a New York State agency against a SEC-registered investment adviser in order to protect the institution’s interest in an outstanding $270 million loan facility. Subsequently obtained full satisfaction of loan facility, including default interest and attorney’s fees.
Represented a bank in response to a subpoena issued pursuant to the FIRREA in connection with the Department of Justice’s Operation Chokepoint, including detailed review of client’s compliance policies and procedures and conducted regular interaction with government attorneys.
Successfully represented a former Chief Compliance Officer of a money services business in the first ever involuntary civil enforcement litigation seeking to hold an individual liable for an entity’s failure to have an adequate anti-money laundering policy as required by the Bank Secrecy Act.
Successfully represented a monoline insurer in a case involving the improper sale of credit-impaired reference obligations underlying a credit default swap, obtaining partial summary judgment and subsequently, a favorable settlement.