Annual Report 2014
Litigation
During 2014, the Board of Governors was a party in 6 lawsuits or appeals filed that year and was a party in 14 other cases pending from previous years, for a total of 20 cases. In 2013, the Board had been a party in a total of 29 cases. As of December 31, 2014, 13 cases were pending.
Ramey v. Board of Governors, No. 14-cv-220 (D.D.C., filed December 22, 2014), is a Freedom of Information Act case.
The Loan Syndications and Trading Association v. Board of Governors, No. 14-1240 (D.C. Circuit, petition for review filed November 10, 2014), is a challenge to the credit risk retention rules issued under section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
Richardson v. Board of Governors, No. 14-cv-01673 (D. District of Columbia, filed October 8, 2014), is an employment discrimination claim.
Nobles v. Federal Reserve Bank of Atlanta and Board of Governors, No. 14-cv-02541 (N.D. Georgia, filed August 6, 2014), was a discrimination claim brought by former employee of the Federal Reserve Bank of Atlanta. On October 27, 2014, the plaintiff voluntarily dismissed the Board as a defendant in the action.
Community Financial Services Association of America, Ltd., v. Board of Governors, No. 14-cv-00853 (D. District of Columbia, filed June 11, 2014), is a challenge to actions of the Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency that allegedly disadvantage payday lenders.
Johnson v. Federal Reserve Board, No. 14-cv-50 (E.D. North Carolina, filed March 28, 2014), was a complaint by incarcerated individual that his prosecution and imprisonment violated his rights under the "redemption theory." On January 30, 2015, the District Court granted the Board's motion to dismiss the action.
American Bankers Association, et al., v. Board of Governors, No. 13-cv-02050 (D. District of Columbia, filed December 24, 2013), was a challenge to a portion of the so-called Volcker rule issued by the Board and other regulators. On February 12, 2014, the plaintiffs voluntarily dismissed the action.
American Bankers Association, et al., v. Board of Governors, No. 13-1310 (D.C. Circuit, filed December 23, 2013), was a challenge to a portion of the so-called Volcker rule issued by the Board and other regulators. On February 12, 2014, the parties stipulated to a dismissal of the petition for review.
Blair v. Bernanke, No. CJ-2013-3525, No. 14-CV-00022 (N.D. Oklahoma, filed November 25, 2013), was a third-party, pro se complaint originally filed in Oklahoma state court alleging that the Board violated the plaintiff's constitutional rights through its regulation of direct deposit payments. On July 14, 2014, the District Court dismissed the action as to the Board.
Richter v. Board of Governors, No. 13-cv-015107 (D. District of Columbia, filed October 1, 2013), was a Freedom of Information Act case. On February 14, 2014, the District Court granted the Board's motion for summary judgment.
WMI Liquidating Trust v. Board of Governors, No. 13-cv-01706 (W.D. Washington, filed September 20, 2013), is an action for a declaratory judgment regarding golden parachute payments. On July 3, 2014, the action was transferred to the United States Bankruptcy Court for the District of Delaware (Adv. Pro. No. 14-50435-MFW (Bankr. D. Del.)).
NACS et al. v. Board of Governors, No. 13-5720 (D.C. Circuit, notice of appeal filed August 21, 2013), was an appeal from a District Court ruling invalidating Board regulations issued pursuant to section 1075 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to debit card interchange fees. On March 21, 2014, the Court of Appeals reversed the District Court's grant of summary judgment and remanded the action to the District Court. On January 20, 2015, the Supreme Court denied NACS's petition for certiorari (No. 14-200).
State National Bank of Big Spring v. Bernanke, No. 13-5247 (D.C. Circuit, notice of appeal filed August 2, 2013), is an appeal of a District Court ruling dismissing plaintiffs' challenge to the constitutionality of the Consumer Financial Protection Bureau and the Financial Stability Oversight Council.
Ferrer v. Bernanke, No. 13-29975 (S.D. Florida, filed July 29, 2013), is an action alleging that plaintiffs received improper relief under the Board's and the Office of the Comptroller of the Currency's financial remediation orders regarding deficient mortgage servicing and foreclosure practices. On October 28, 2014, the District Court granted the Board's motion to dismiss the action. On November 26, the plaintiffs filed a notice of appeal to the Eleventh Circuit (No. 14-15325).
Goldstein, Trustee v. Board of Governors, No. 13-MC-00445-RC (D. District of Columbia, motion to compel filed May 1, 2013), was a motion to compel production of bank examination material. On January 17, 2014, the plaintiff voluntarily dismissed the action.
Ball v. Board of Governors, No. 13-cv-00603 (D. District of Columbia, filed April 30, 2013), was a Freedom of Information Act case. On March 31, 2015, the District Court granted the Board's motion for summary judgment.
Crisman v. Board of Governors et al., No. 12-cv-1871 (D. District of Columbia, filed November 19, 2012), is a Freedom of Information Act case.
Wise v. Federal Reserve Board, No. 12-cv-1636 (D. District of Columbia, filed October 2, 2012), is a claim under the Federal Tort Claims Act.
CitiMortgage, Inc. v. Kokolis, No. 11-cv-2933-RBH (D. South Carolina, filed in state court August 5, 2011; notice of removal filed October 27, 2011), was a third-party complaint against the Board and the United States Department of the Treasury by the defendant in a mortgage foreclosure action. The District Court dismissed the action on May 30, 2012, and on April 14, 2014, the Fourth Circuit Court of Appeals dismissed the appeal on the appellant's motion (No. 12-1917).
Artis v. Greenspan, No. 01-cv-0400 (D. District of Columbia, filed February 22, 2001), is an employment discrimination action. On September 29, 2014, the District Court denied the plaintiffs' motion for class certification, and on January 15, 2015, the Court of Appeals for the District of Columbia Circuit denied the plaintiffs' petition for interlocutory appeal of that denial (No. 14-8003).
