ZEK is expert in representing financial institutions in a variety of litigations which grow out of their operations.

We have defended class actions, handled business and consumer defense litigation, been involved in fraud and operating error litigation, and letter of credit litigation, among others. Clients recognize that ZEK has the knowledge and experience to handle all levels and types of financial services litigation.

Class Action Defense Litigation

ZEK specializes in defense of class actions brought by consumers against financial institutions. The Firm is well familiar with both federal and state class action procedural statutes and has had excellent success in defeating a number of such claims based on plaintiffs’ failure to meet appropriate statutory requirements, including those concerning the definition of a true “class.” Concerning substantive class action claims, ZEK has defeated claims concerning mortgage adjustments, receipt and posting of social security benefits, truth in savings claims, predatory lending practices and discriminatory practices, deceptive business practices and federal and state disclosure law violations. ZEK is known by the class action plaintiffs’ bar and financial institution clients as worthy defense counsel, and is respected for its tough stand and record of success in defeating class action claims helping to craft creative settlements when appropriate.

Business and Consumer Defense Litigation

We defend and counsel financial institutions concerning claims brought under the Real Estate Settlement Procedures Act, Truth-in-Lending Act, Fair Debt Collection Practices Act, Fair Credit Reporting Act, and the Telephone Consumer Protection Act, among others. The firm understands the technical and procedural intricacies of these statutes and the decisional authority that have helped re-define them, and our strategic approach and robust defense usually results in summary dismissal of these claims before trial.

ZEK attorneys have litigated significant credit card related cases. Our representation has concerned the use of credit cards to finance internet gambling; the cancellation of a credit card reward program; violation of state deceptive acts and practices statutes; fraud in the inducement; and redlining and violation of ECOA in offering of credit card accounts, etc.

ZEK also has substantial and significant experience in litigation including cyber fraud matters, from matters involving the check and wire transfer sections of both existing versions of the Uniform Commercial Code to issues concerning ACH, NACHA, remote deposit capture transactions, as well as the Electronic Checks Clearing Organization Rules, Regulation E and Electronic Funds Transfer Act matters. (Please see the Bank Payment Issues/Cyber Fraud practice area section for a more complete discussion of ZEK’s substantial substantive experience with such claims).

Fraud and Operating Error Litigation

Both bank operations and internal and external fraud perpetrated on banks create losses for banks and often result in recovery litigation. ZEK has represented financial services clients in such recovery efforts for years.

Fraud cases may result from any underlying fact pattern, limited only by a dishonest person’s imagination. We have been referred a range of such matters by our clients, such as false hiring of lawyers with phony bank check retainers, theft of funds by branch officers used to gamble at casinos, forged indorsements and signatures on checks, theft from customer accounts of all kinds including through the use of stolen customer wire transfer credentials, theft of cash from automated teller machines by the technicians that service them and break-ins by thieves into bank customer safe deposit vaults.

Bank operating errors run the gamut from: improper payments from a bank based on wire transfers to incorrect account numbers, application of funds received to the wrong accounts, payments made to the correct parties but at the wrong time, and payment of mis-encoded checks, to name a few.

ZEK is expert at handling all such cases. It employs its know-how and experience in both legal matters and bank operations to act quickly to obtain judgments and recover lost funds. It seeks interim relief pending judgment when permitted by law and location of assets can be ascertained. At the same time, it is used to the many insincere defenses raised by defendants to retain funds to which they are not entitled, and able to dispatch those defenses quickly.

ZEK’s knowledge and experience in this area has led to substantial bank recoveries.

Appeals

Litigations based on financial services firms’ operations are often based on technical and often difficult to understand laws and regulations with which most lawyers and judges are not familiar. As a result, the trial courts issue not infrequent decisions which do not follow the substantive law. When necessary ZEK, based on its encyclopedic knowledge of these areas, appeals such incorrect decisions, in order to obtain the appropriate legal result. ZEK has a high rate in correcting such incorrect lower court decisions based on its substantial substantive and appellate experience.