Ohio Financial Services Litigation Attorneys

Financial Services Litigation

Durst Kerridge represents clients in a wide range of often-complex and high stakes financial services litigation.

The financial services sector, broadly comprised of banking, lending, alternative financing, credit cards, payment services, accounting, and investing, provides a wide array of services to people and companies.

Not surprisingly, financial services litigation tends to involve multiple parties in different states or countries, large amounts of money at stake, intricate contractual agreements, complex statutory or regulatory schemes, choice-of-law questions, jurisdictional disputes, arbitration agreements, procedural issues, and other factors that can make the cases complex–necessitating high-level strategic considerations.

This is where our Firm shines.

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Financial services matters we handle, as lead and local counsel in Ohio, include:

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Payments Industry Disputes. We represent various actors in the “payments industry ecosystem” – the intricate network of parties, technology, processes and regulations that combine to enable the seamless payment of money for goods and services. These actors include Sub-Merchants, Payment Networks, Issuing Banks, Acquiring Banks, Payment Processors, Payment Gateways, Merchant Service Providers (MSPs), Independent Sales Organizations (ISOs), Payment Facilitators (PayFacs) and Card Brands. We have brought and defended against payments industry cases involving high-six and seven-figure damages claims.

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Cases Involving “Chargebacks.” A chargeback is a forced (credit card) payment reversal resulting from a disputed charge that occurs when the issuing bank determines the charge to be illegitimate, debits the amount of the disputed transaction from the Merchant’s account (leading the Merchant to debit the same amount from the Sub-Merchant’s account) and issues a corresponding credit to the cardholder (customer).

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Merchant Cash Advance (MCA) Litigation, A merchant cash advance is an alternative type of business financing where the Merchant Cash Advance company purchases a set amount of future accounts receivable from a business (merchant), “advancing” a lump-sum payment for those receivables which are paid in installments. Merchant Cash Advance Litigation often occurs between Merchant Cash Advance companies and merchants, in Bankruptcy proceedings, to enforce personal guaranties, in actions brought by the FTC or Attorneys General, and between Banks and MCA companies.

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Factoring, Reverse Factoring (“Supply Chain Financing”) and Forfaiting Disputes. Factoring is a form of finance, common in the Trucking, Staffing, Manufacturing, Government Contracting, Construction and Medical industries, in which a business sells its accounts receivable (i.e., unpaid invoices) to a third party (a “Factor”) at a discount. This arrangement provides the business access to immediate capital and cash flow while enabling the Factor to collect payment directly from the “Account Debtor” for the full invoice amount. Disputes arise in many scenarios, such as when an Account Debtor fails to directly pay the Factor following a Notice of Assignment and when a third party challenges the validity of the Factor’s security interest.

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Government Investigations and Enforcement Actions. Financial institutions, alternative financiers and other business entities in financial services industries may face investigations or lawsuits initiated by the Federal Trade Commission, Department of Justice, Internal Revenue Service, Attorneys General, and state regulatory bodies, requiring internal investigations.

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Breach of fiduciary duty and related claims arising from alleged bad investment performance. 

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Complex Regulatory Regimens. Claims brought under the “alphabet-soup” of regulations including the Real Estate Settlement Procedures Act (RESPA), Truth in Lending Act (TILA), Fair Debt Collection Practices Act (FDCPA), State Unfair, Deceptive or Abusive Acts or Practices (UDAAP) statutes, Fair Credit Reporting Act (FCRA) and Electronic Fund Transfer Act (EFTA).

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General and Industry-Specific Challenges to Employment Practices. We leverage our employment law experience to defend financial services sector employers in labor & employment matters.

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Alleged Violation of Increasingly-Complex Domestic and International Privacy Laws. 

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General Commercial Disputes Involving Vendors, Suppliers and Lessors. We assist with financial services sector disputes in the wide range of commercial disputes that arise in the course of business.

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Uniform Commercial Code Litigation. We represent financial services sector clients in seller-purchaser, creditor-debtor, intra-creditor and other disputes under the UCC, including disputes regarding the perfection and priority of security interests and the intersection of common law tort and contractual liability with applicable UCC provisions.

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Contact the Financial Services Attorneys of Durst Kerridge

If you need a financial services attorney in Cincinnati, Dayton, Columbus, Cleveland, or elsewhere in Ohio, call Durst Kerridge at (513) 621-4999 to discuss your options.

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