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BANKING AND FINANCIAL SERVICES LITIGATION

For over 80 years, we have represented banks and financial institutions in federal and state litigation, arbitrations and administrative proceedings throughout the country. We help them recover loans and collateral, litigate issues involving bank checks, defend against lender liability claims, and litigate bankruptcy and preference matters, often serving as national counsel for our clients.

We work with a wide range of financial institutions, including bank holding companies with multiple subsidiaries, asset-based lenders, thrift institutions, municipalities and other municipal and developmental authorities, venture capital firms, small business investment companies (SBICs), insurance companies, equipment lessors and floor plan lenders. We know our clients’ businesses and industries.

Our real estate, environmental, corporate, securities and bankruptcy attorneys assist with related issues that frequently impact lender disputes. Through our multidisciplinary approach, we provide comprehensive, efficient and cost-effective advice that is appropriately tailored to the complexity of each matter and the amount at stake.

Loan Enforcement and Asset Recovery

We helped a bank obtain a quick replevin order against a car dealer in federal court in St. Louis, which prompted the car dealer to work out a favorable settlement for repayment of the car dealer’s loan with the bank and dismissal of the car dealer’s lender liability claim against the bank.

We recently achieved a victory for a lender in a case triggered by one of the largest individual check fraud scams in the United States.

We recently obtained a successful verdict against a former star of the National Basketball Association and obtained repayment in full of the obligations owed to our client, including its attorney’s fees.

Bank and Finance Litigation

American National Insurance Company v. Citibank, N.A.
In a multimillion-dollar altered check case, the District Court granted Citibank’s motion for summary judgment against American National Insurance Co. (ANICO) on all of its claims, holding that because ANICO was not the payee on the checks, it lacked standing to recover from Citibank. The Seventh Circuit affirmed the District Court’s grant of summary judgment to Citibank. The United States Supreme Court denied ANICO’s request for review.
This was a significant victory for Citibank and all commercial banks, and was a closely watched matter between two of the country’s most respected banking and insurance companies. One of the largest individual check fraud scams had triggered ongoing disputes and significant precedent-setting court rulings regarding ANICO’s theory that depositary banks would have to be responsible for unnamed, unknown and unknowable non-payee “real owners” of checks.

Transcontinental Indemnity, Ltd. v. First Bank, Inc.
We won a judgment for First Bank following a four-day bench trial in the Circuit Court for St. Louis County, Missouri. The plaintiff sought more than $850,000 in actual damages, interest and attorney’s fees based on First Bank’s refusal to pay a cashier’s check made payable to the plaintiff.

Joseph Stephens & Co., Inc. v. Cikanek v. Citibank
Cikanek received a final money judgment award of $238,519 due to a failed relationship between himself and Joseph Stephens & Company (JSC), a New York brokerage firm. Cikanek filed a petition for a turn-over order regarding a JSC deposit account maintained by Citibank. Citibank argued that JSC secured a standby letter of credit and used the deposit account as collateral prior to Cikanek’s judgment lien; therefore, Citibank’s security interest in the account was superior to Cikanek’s pursuant to the UCC and its account agreement. The court agreed and denied Cikanek’s petition for the turn-over order against Citibank.

We represented an automotive finance company accused of sending the plaintiff letters stating she was pre-approved for auto financing up to $30,000, with a minimum financed amount of $10,000. The complaint alleged that our client accessed plaintiff’s credit report without authorization, in violation of the FCRA. The court held that the pre-approval letters contained something of value (a minimum financing of $10,000), were a firm offer of credit and did not run afoul of the FCRA. The court granted our client's motion for judgment on the pleadings. The Court of Appeals affirmed the District Court’s decision.

Portman v. Andrews et al.
Plaintiff Portman, pro se, brought action against Citibank and others asserting claims based on an alleged $4.7 billion certificate of obligation issued by Citigroup and owned by the Republic of Panama. Portman claimed he had been retained to try to redeem it for a fee. Portman also asserted claims based upon an alleged Citigroup bank draft in the amount of $12.4 million issued to Portman himself. The court ruled that all of Portman’s claims against Citibank were deficient because the claims were premised upon fraudulent documents. The court described Portman as a “vexatious litigant” and imposed monetary and non-monetary sanctions against Portman that prevent him from pursuing other litigation against any Citibank entity.

We represented a bank in a claim under the FCRA where the District Court granted motion for judgment on the pleadings against class action.

We represented a title insurance company in a case where the plaintiff sought to represent a class consisting of all customers of defendant in 32 states. The plaintiff claimed that various fees assessed against them as part of real estate closing procedures were improperly enhanced and that our client made misrepresentations about those fees during his real estate closing on a standardized financial disclosure form. The court denied remand, finding that the class damages at issue exceeded $5 million. Subsequently, the district court entered judgment in favor of our client, finding that its compliance with the Real Estate Settlement Procedures Act (RESPA) in completing the financial form at issue precluded plaintiff’s claim under the Illinois Consumer Fraud Act.

Chandler v. Norwest Bank Minnesota
Court affirmed Rule 11 sanctions against the class action plaintiff's attorney for filing frivolous RESPA claims. Supreme Court denied certiorari.

Lender Liability Actions

We have successfully defended FCA US LLC in multiple class actions in several states alleging violations of the Truth in Lending Act and state consumer fraud laws based on allegedly misleading representations in retail installment contracts or allegedly improper fees.

We successfully defended a bank from claims that it breached duties to a borrower in the course of advancing several million dollars to the borrower under a line of credit.

Publications

New CME enforcement rules for the new year

Was that trader really 'spoofing'? Focus on the statute’s words, not the regulator’s claims

Key takeaways for creditors after the Supreme Court's divided ruling on spousal guarantors

Financial institutions authorized to use websites for annual privacy notice

UCC update: Revisions to Missouri’s UCC Articles 4A and 9

The Wheatley review of LIBOR: final report

Blog Posts

State-chartered fintech banking and financial services: What solutions will states pursue?

President Trump’s call to ‘rationalize’ federal financial regulation could impact U.S. dual banking system

Fintech: Internet banking across state borders triggers compliance challenges for state banks

Two non-conventional uses for Missouri’s new receivership statute

D.C. Court of Appeals checks, then balances CFPB’s power

California appeals court rejects ‘creative’ sham guaranty defense

Supreme Court’s discharge exception ruling gives creditors more options

7 things you should know about the new Missouri Commercial Receivership Act

U.S. Supreme Court unable to decide whether ECOA protects spousal guarantors

I will survive: Help your reps and warranties endure with a smart survival clause

TCLE

Ethics - Confidentiality Issues Re: Attorney Client Privilege and Information

News

Bill Bay to receive Distinguished Lawyer Award at 2017 Law Day festivities

Margie Krumholz elected to ELFA board

Bill Bay named a 2016 ‘Excellence in Law’ award winner by St. Louis Magazine

Claire Schenk appointed Receiver in FTC enforcement action against tech support scam

Congratulations to our 2017 ‘Lawyers of the Year’

Thompson Coburn Management Committee welcomes Tony Anderson, Steve Sherman

Former federal prosecutor Renato Mariotti joins Thompson Coburn

Associates, patent agent join Thompson Coburn in Chicago, Los Angeles, St. Louis

Helen B. Kim named to Law360’s ‘25 Most Influential Women in Securities Law’ list

Bill Bay elected to American Law Institute’s class of 2016

Congratulations to our 8 ‘Lawyers of the Year’

Thompson Coburn client wins attorneys’ fees ruling from 9th Circuit

Bill Bay elected to ABA Board of Governors

Helen B. Kim talks securities litigation in roundtable with California Lawyer

Thompson Coburn earns eight national top-tier rankings in U.S. News ‘Best Law Firms’ survey

Congratulations to our 15 St. Louis ‘Lawyers of the Year’

David Warfield talks US Fidelis case on CNBC’s ‘American Greed’

Sixth Circuit rules cows can be leased

Jim Slear leads webinar on ‘Navigating the Russian and Ukrainian Sanctions Maze’

Claire Schenk to speak at 10th Annual ABA National Institute on False Claims Act

Victoria Gilbert joins Thompson Coburn as a partner

Detroit’s bankruptcy: What’s it got to do with St. Louis?

Webinar will review attorney client privilege for in-house counsel

Thompson Coburn drafts UCC legislation in Missouri

David Warfield writes article on Detroit bankruptcy for St. Louis Business Journal

Bill Bay named co-chair of Joint Commission on Women in the Profession

Associates join Business Litigation, Real Estate Tax Assessment groups

Litigators, judges meet in Chicago for ABA Section of Litigation Annual Meeting

Francis X. Buckley, Jr. elected to board of directors of the American College of Bankruptcy

Chicago litigator secures dismissal of federal lawsuit against CitiMortgage

Bill Bay named Influential Lawyer by Missouri Lawyers Media

Appellate victory helps strengthen statute of limitations in UCC conversion cases

19 Thompson Coburn partners named 2013 St. Louis Lawyers of the Year

Rick Reibman joins Thompson Coburn as a partner

Todd Rowden named vice-chair of Thompson Coburn’s Business Litigation Group

Partner
St. Louis
314 552 6126

Mike has extensive experience handling probate and trust litigation for both fiduciaries and beneficiaries and leads the Firm's Trust and Estate Litigation practice.

Mike has extensive experience handling probate and trust litigation for bot...

Mike Bartolacci
Partner
St. Louis
314 552 6008

Bill has represented major corporations in high-stakes litigation for more than 30 years.

Bill has represented major corporations in high-stakes litigation for more ...

Bill Bay
Partner
St. Louis
314 552 6014

Mary has spent her nearly 40-year career representing major corporations in high-stakes trials and arbitrations across the region.

Mary has spent her nearly 40-year career representing major corporations in...

Mary Bonacorsi
Partner
St. Louis
314 552 6099

Kim is a passionate advocate for food, beverage, and agriculture clients in high-stakes business disputes.

Kim is a passionate advocate for food, beverage, and agriculture clients in...

Kim Bousquet
Partner
Chicago
312 580 2210

Frank is a longtime advisor to financial service providers who assists with insolvency and restructuring matters, loan enforcement, and a host of other business issues.

Frank is a longtime advisor to financial service providers who assists with...

Francis X. Buckley, Jr.
Partner
St. Louis
314 552 6145

Jeff helps all types of businesses navigate complex litigation, arbitration, class action, and regulatory matters in venues across the country.

Jeff helps all types of businesses navigate complex litigation, arbitration...

Jeff Fink
Partner
St. Louis
314 552 6311

Matt practices in the firm's Business Litigation and Banking and Financial Services Litigation practice areas.

Matt practices in the firm's Business Litigation and Banking and Financial ...

Matt  Guletz
Partner
St. Louis
314 552 6461

Brian Hockett practices in the firm's Financial Restructuring group.

Brian Hockett practices in the firm's Financial Restructuring group.

Brian Hockett
Partner
St. Louis
314 552 6159

Chris leads complex litigation and class action defense for a host of major corporations in the financial services and agriculture industries.

Chris leads complex litigation and class action defense for a host of major...

Chris Hohn
Partner
St. Louis
314 552 6541

Matt practices in the areas of state and local tax (SALT) controversy, banking and financial services litigation, business litigation, and appellate.

Matt practices in the areas of state and local tax (SALT) controversy, bank...

Matt Landwehr
Partner
Washington, D.C.
202 585 6942

Harvey has 30 years of experience as a civil litigator and commercial lawyer, representing banks and other public lenders, private lenders, metropolitan transit authoriti...

Harvey has 30 years of experience as a civil litigator and commercial lawye...

Harvey Levin
Partner
Chicago
312 580 5056

Renato is an accomplished trial attorney who focuses his practice on representing parties involved in commodity futures markets in CFTC and DOJ investigations and enforce...

Renato is an accomplished trial attorney who focuses his practice on repres...

Renato Mariotti
Partner
Chicago
312 580 2328

Lauren is a strategic, proactive bankruptcy attorney and litigator who fights for lenders and creditors of all kinds.

Lauren is a strategic, proactive bankruptcy attorney and litigator who figh...

Lauren Newman
Partner
Chicago
312 580 2344

James advocates for his clients in state and federal courts nationwide by taking a big-picture approach to litigation, calculating the value of each legal maneuver and fo...

James advocates for his clients in state and federal courts nationwide by t...

James Oakley
Partner
Chicago
312 580 2229

Todd helps businesses solve some of their thorniest problems.

Todd helps businesses solve some of their thorniest problems.

Todd Rowden
Partner
Chicago
312 580 2311

Dave is a practical and resourceful business litigator with a long track record of successful results.

Dave is a practical and resourceful business litigator with a long track re...

David Rownd
Partner
St. Louis
314 552 6242

Cathie defends clients in all types of business litigation in state and federal courts throughout Missouri and Illinois.

Cathie defends clients in all types of business litigation in state and fed...

Cathie Schroeder
Associate
St. Louis
314 552 6560

Steve assists clients in a variety of litigation matters in state and federal courts.

Steve assists clients in a variety of litigation matters in state and feder...

Steve Shredl
Partner
Los Angeles
310 282 9412

Art represents employers in high-stakes employment litigation and labor relations matters.

Art represents employers in high-stakes employment litigation and labor rel...

Art Silbergeld
Partner
St. Louis
314 552 6118

David is a highly respected litigator with substantial experience in the trial of complex cases, including appellate proceedings in state and federal courts.

David is a highly respected litigator with substantial experience in the tr...

David Wells
Partner
St. Louis
314 552 6121

Roman is a nationally recognized litigator who represents major corporations in high-stakes litigation in venues across the country.

Roman is a nationally recognized litigator who represents major corporation...

Roman Wuller