News reports indicate that the City of Philadelphia recently filed a lawsuit against Wells Fargo & Company. The city is alleging that the bank dishonored the Fair Housing Act of 1968. It is argued that the bank used predatory lending practices targeting minority mortgage borrowers. However, the bank has denied the allegations noting that it has fair practices. Wells Fargo claims that the lawsuit is unsubstantiated. The City of Philadelphia filed the lawsuit on May 15 in the district court for the Eastern District of Pennsylvania in the US. The bank has been facing a series of scandals last year where bankers were opening bogus accounts in the name of its clients. Therefore, this lawsuit is the latest in the series of problems facing the large bank.
Philadelphia is the fifth largest city in the United States, with a population of 1.57 million people. The town has a large minority population with about 43 percent of its residents being black and 12 percent being Hispanic. The alleged lending practices of Well Fargo towards the minority population in the city hurt the city’s economy because most borrowers who applied for loans to refinance their mortgages had their applications turned down. That resulted in the foreclosure of the applicants’ homes. The city argues that the practice hurt the city because it caused lower property values in the affected locations, more frequent vandalism cases, and higher crime rates.
Wells Fargo has its headquarters in San Francisco. The City of Philadelphia also accused the bank of steering Hispanic and black borrowers into getting riskier loans than other borrowers with higher interest rates even if they qualified for low-risk and low-interest rate mortgages. The city claims that it investigated the claims for about one year before filing the lawsuit. The city also claims that black borrowers were twice likely to be given higher interest loans for loans with a repayment period of ten years. Additionally, Hispanics were 1.7 times likely to get riskier mortgage loans than other white borrowers. However, Wells Fargo disputed the claims made by the city through their spokesman.
About Karl Heideck
Karl earned his Bachelor of Arts in English language and literature in 2003 from Swarthmore College. He also received his Juris Doctor in 2009 from the Temple University Beasley School of Law. Heideck focuses practice in an array of areas such as risk management, civil litigation, compliance management, and helping clients throughout Philadelphia areas.
Karl is currently concentrating as an attorney dealing with bank litigations, fraud cases, and securities. Karl is also focusing on acquisitions, liquidity, transactions problems related to the mortgage crisis of 2008, and risk management. Karl Heideck has gained many years of experience working as a litigator.
Are you dealing with a business or corporate litigation matter? Need a competent attorney to advise or represent you in Brazil? Perhaps you have heard about Ricardo Tosto and want to know more about his practice and more information click here.
When looking for a lawyer to hire for guidance or representation, it is imperative to get someone who is well versed in the area of litigation or law your are dealing with. In addition to having years of experience providing services, the lawyer should have a good reputation in the legal community.
If you are facing a complex legal issue in Brazil, then contact Ricardo Tosto de Oliveira Carvalho, a leading litigator in Brazil. Mr Ricardo has been practising for many years and has a good track record and learn more about Ricardo Tosto.
Finding the right attorney to handle your case requires some research, but once you have hired a good one, you will have peace of mind in knowing that your legal matter will be handled appropriately.
A good attorney will work closely with you and ensure the best possible representation in your situation. A competent attorney will review your case carefully to understand the circumstances surrounding the matter, and then take appropriate steps to resolve the situation and Ricardo Tosto’s lacrosse camp.
One of the most reliable ways to find an attorney is through your colleagues or family and friends. You can also get information about attorneys and law firms by paying attention to media coverage of lawyers who handle high profile cases.
Ricardo Tosto is a competent attorney and he has represented numerous business owners, entrepreneurs, organizations and private individuals in a wide variety of cases. He has great expertise in the industry and gets great results for his clients.
Ricardo Tosto has received raving reviews from numerous clients and peers. He has world wide recognition for outstanding professional and ethical standards. His litigation law firm is one of the most prominent in Brazil and https://ricardotosto.blog/.
Mr Ricardo Tosto can handle any type of business litigation or corporate law matter effectively. He also has vast experience in negotiation and mediation. Ricardo Tosto fights fiercely in court and take appropriate steps to protect his clients’ right and resume him.
Anthony is the Chairman of Board, the President as well as the Chief Executive Officer of Nabors Industries Ltd. The company has made positive growth since it started its operations and currently, it is well-known and represented across the globe. For a company that is known worldwide, Tony cannot manage to have control over all operations carried out. For this reason, he has his team of leadership where each department in the company has a leader. The leaders assist in easing up the responsibilities of the Chief Executive Officer, making it fast and simple to monitor all operations of the company. A huge company cannot be managed by an individual, and it was wise for Tony to have each department assigned a leader. The company has clients from all over the globe and for all of them to be attended to, the team of leaders is necessary.
The major departments in Nabors Industries Ltd are: CEO Anthony Petrello, Chief Financial Officer (William Restrepo), Corporate Secretary (Mark Andrews),Vice President, Human resources (Carina Lovato Gillenwater), President, Global Drilling Operations and Engineering (Siggi Meissner), President, Nabors Drilling Solutions (Christopher Papouras), Chief Operations officer, Canrig Drilling Technology (John Sanchez), Vice President , Corporate Development & Investor Relations (Dennis A Smith), Vice President and Chief Information officer (Sri Valleru), Vice President of HSE & Risk Management (Steve Williams) and the last department is Vice President & General Counsel (Julia Wright). All the major departments are well represented, and Tony ensured he has the right people to work in each department. The mentioned individuals have well-rounded experience in their respective positions. In this case, the company has the best team of leaders to ensure all operations are successful and the company is working towards achieving all set goals.
One thing that Ricardo Tosto de Oliveira Carvalho has always done is been committed to the firm that he is a part of. Not only is he a partner at the firm but he is also the one who created it in the beginning. Because of everything that he has done, he has made sure that he can do everything to help other people. Ricardo Tosto de Oliveira Carvalho knows what it is like to miss out on some of the various things that are going on and does not want anyone to have to deal with that in their own lives because of the options that they have to make things easier. He also knows that providing people with all of the options that they need through his law firm is the best way to ensure that he will be able to make a difference in the world.
Ricardo Tosto de Oliveira Carvalho does what he can to help people with the options that they need. He is currently working on the statements that people need to submit if they have money abroad. He wants everyone to know that they will be able to submit them at any time but if they don’t, they won’t be able to continue operating their business. They will also have to pay a very large sum of money in the form of a fine. Ricardo Tosto de Oliveira Carvalho advises that people should just submit the statements because it will likely cost less than what the fine would cost.
As Ricardo Tosto de Oliveira Carvalho has worked in different financial law industries, he has found that they are all similar. He knows that he is doing it so that he can help people and so that he can make a difference but he has found that some give him that opportunity more than others. He works primarily in debt and credit restructuring law so that he can help people have a better life and be able to enjoy things slightly more because of a better credit score and a better chance at a positive debt-income ratio.
Becoming an exceptional lawyer is not an easy task. The road begins at college through to law school. However, the facilities do little in ensuring that the student gets prepared for the real challenges in the legal field. Karl Heideck explores the mandatory things that young lawyers should know;
Be Informed on the State Bar Requirements.
Different states have different requirements that lawyers should fulfill before practicing. Therefore, it is important for a young or aspiring lawyer to get informed about the conditions. Some of these rules are defined and should get fulfilled from school. Young lawyers should, therefore, learn the practices of the states in which they are to practice. Follow him on twitter : https://twitter.com/karl_heideck
Create and Nurture Networks
While still at school, it’s important to build connections. Establish networks with students, lecturers, and practicing lawyers. These connections come in handy when looking for jobs and mentors.
Always Ask Questions.
Information is power when it comes to practicing Law. Therefore, young lawyers should not shy away from asking questions. Curiosity enhances their knowledge and improves confidence.
Selection of the Area of Practice
Your personality should always determine the area of practice law. A young lawyer should choose an area that comes easily to him/her.
Score Good Grades
When it comes to attaining that associate position, grades get considered a lot. It is, therefore, important to ensure you pass all exams with flying colors.
Understand the Market
The lateral market keeps on changing. Refresh your skills and adapt to changes.
Don’t Focus on Prestige
Breakthroughs mostly come in less prestigious law firms. Chances of moving up or making partner are higher in these institutions. Finally, always be kind to people including clients and workmates.Students seeking mentors can find that in an exceptional Attorney called Karl Heideck. Karl Heideck was listed by Hire Counsel as a contract attorney in April 2015. Before then, he practiced in the Greater Philadelphia area for more than 10 years.Karl Heideck held an associate position at Conrad O’Brien. Additionally, he served as the project attorney for Pepper Hamilton LLP. Karl Heideck is a graduate of Temple University where he attained his Juris Doctor. He also holds an arts degree from Swarthmore College
Anthony “Tony” Petrello has had a star-shining career at Nabors Industries, Inc. When he joined the company in 1991 from Baker &McKenzie LLP, not many would have expected him to prosper in a field he had little experience in then. Despite being a lawyer by profession, Tony took up the COO role and fitted perfectly in it. He was later appointed as the company’s President and excelled in the role as well. In 2003, a dozen years after joining the company, Tony was promoted to become Nabors’ deputy chairman, CEO, and president. As he continued to impress in his roles, he was promoted to assume the chairmanship of the company in 2012. Since then till now, he holds the positions of chairman, CEO, and president. Tony is also a board member of Hilcorp Energy Co.
Anthony’s Early Career
Before joining Nabors Industries, Tony was practicing law in Massachusetts under Baker &McKenzie LLP. He was one of the managing partners of the law firm that he had joined in 1976. Before that, Tony had spent three years working as a consultant to the Attorney General of the State of Massachusetts. Tony qualified as a lawyer in 1979 after graduating with a JD from the high-status Harvard University. Besides law, Tony is a mathematician and holds a master’s degree in the discipline from Yale University. His twitter account : https://twitter.com/tony_petrello
Anthony Petrello was among the highest paid business executives in the United States for the year 2015, especially because he triples up as board chairman, CEO, and president. His total compensation for the year was in excess of $15.2 million. The breakdown of this figure from proxy statements showed that $1.575 million was received as salary while bonuses accounted for $1.5 million. Even though he received no compensation in stock options, he got $10.8 million as stock. Other unspecified compensations accounted for the remainder, which was in the region of $10.8 million.
Lloyd Groove- Tony’s Friend
Lloyd Grove was Tony’s teenage friend with whom he had shared a room at the university. The two were mathematics students at Yale University. According to Lloyd, Tony was a math genius who always made Prof. Lang proud. Lloyd describes Tony as a fun-loving young man whose accent was more of Italian.
Brazilian law has not always been very business-friendly, and in the view of many people, this lack of encouragement has been detrimental to the country’s development. However, things are slowly changing, and the government has introduced a new taxation system for very small businesses, also known as micro-businesses click here.
A micro-business is a one-person or two-person business. This definition includes freelancers, although lawyers are other service professionals are excluded from the definition in Brazil. Registering as a has a number of tax benefits, but is only possible if the business’s gross profits do not exceed 60,000 reais per year.
Individuals and partners who register as a micro-business pay a monthly pension contribution. Although they must file a federal tax return, they need only pay income tax if their net profit exceeds a certain percentage threshold over gross profits, which is 32% for most services, but lower for other businesses. Taxes are only owed on profits above that threshold, and personal deductions also apply to the taxable income.
These new small business registration schemes allow entrepreneurs to start small and build their business. As their profits grow, they may opt to incorporate their business or simply move up to other forms of small business organization.
Ricardo Tosto is a Brazilian attorney and expert in business law. His firm, Ricardo Tosto & Associates, was one of the first Brazilian law offices to offer large-scale dispute resolution solutions to corporations.
Ricardo Tosto earned his LLB and practiced as an in-house counsel before starting his firm. A well-regarded member of the Sao Paulo Bar, Ricardo Tosto is a frequent speaker at events, and strongly believes that the academic side of the law enhances its practice. In addition, Ricardo Tosto is known for his track record of legal publications and works on Brazilian legal history.
Sam Tabar is a New York based lawyer, entrepreneur and leader in business. He has been an investor for a number of years now and has created quite an influence in the business circles. The many people that know Sam do not understand the process and the journey that it has taken the man to get where he is. Below are some interesting things you may not know about Sam.
Sam is a native of Montreal, Quebec Canada. He started elementary school there and completed his high school education there. After performing exceptionally well in his high school, he got a chance to study at the University of Oxford. He graduated cum laude from the university and then proceeded to the University of Columbia’s law school. In 2001, he was admitted to the bar as an attorney at law. He was very active in writing and editing while at the University as he contributed to The Columbia Business Law Review.
His first Legal job was with the Skadden, Arps, Meagher and Flom LLP. He was to take care of the hedge fund clients and come up with strategies to help them make better investments. Sam Tabar worked for the firm for three years before he decided to move on.
What was shocking about his decision to move on was the fact that he decided to switch gears completely and get into the world of finance. He approached the Sparx group and started his career as a rookie, then, he worked his way up to a managerial position. At the time, he was the manager of a hedge fund that had grown to the amount of 2 billion dollars. Before he left the company, he had helped them raise over 1.2 billion dollars.
The next destination for Sam was the Bank of America. He was appointed to the post of Director and Head of Capital Strategy for the entire Asian and Pacific region. After rolling in the world of high finance, he decided it was time to rejoin the legal profession in 2013. He was invited to the position of senior associate at the Schulte Roth & Zabel LLP, where he managed hedge fund clients.