5 Cases Banks Will Be Watching In Next High Court Term

By Evan Weinberger (September 18, 2015, 2:51 PM EDT) -- The upcoming U.S. Supreme Court term includes no single blockbuster case for the banking industry, but several expected decisions have the potential to further limit class actions and determine whether consumers who have not suffered direct harm can sue for technical violations of the law.

"A couple of the cases go to the issue of whether 'no harm, no foul' has a place in the consumer credit industry," said Laurence Platt, a partner at K&L Gates LLP. "Lack of proportionality in the penalties imposed on lenders and servicers relative to actual harm has been a major complaint of lenders and servicers...

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