April 26, 2017 4:41 PM ET

Banks

Company Overview of ZB, National Association

Company Overview

ZB, National Association offers personal and commercial banking services. It provides checking and saving accounts, car loans, credit cards, mortgages, retirement services, international banking, cash management, Internet banking, agricultural finance, and trust management services. ZB, National Association was formerly known as Zions First National Bank and changed its name to ZB, National Association in 2016. The company was founded in 1873 and is based in Salt Lake City, Utah. ZB, National Association operates as a subsidiary of Zions Bancorporation.

One South Main

Suite 1380

Salt Lake City, UT 84133

United States

Founded in 1873

Phone:

801-974-8800

Key Executives for ZB, National Association

Chief Executive Officer, President and Director
Age: 69
President of Central Idaho Region
Regional President
Age: 90
Senior Vice President
Vice President and Team Leader
Compensation as of Fiscal Year 2016.

ZB, National Association Key Developments

United States District Court for the Eastern District of Pennsylvania Grants Final Approval of $37.5 Million Class Action Settlement Between Reyes and Zions First National Bank

On November 22, Magistrate Judge Timothy Rice of the United States District Court for the Eastern District of Pennsylvania granted final approval of a $37.5 million class action settlement. The case -- Reyes v. Zions First National Bank -- alleged that Zions Bank and a former payment processing subsidiary knowingly processed payments for fraudulent telemarketers. Magistrate Judge Rice also awarded class counsel, Langer Grogan & Diver, $12.5 million in attorneys' fees.

Zions Bank Names Todd Barney as President of is Newly Created Central Idaho Region

Todd Barney has been named as president of Zions Bank's newly created Central Idaho region. In his new role, he is to be responsible for the strategic direction, market share growth and profitability of the bank's financial centers in Ketchum, Hailey, Gooding, Twin Falls and Burley. Barney has more than 20 years of experience. He joined Zions in 2013 as a commercial relationship manager.

The United States Court Allows Fraud Action Brought by Langer Grogan & Diver, P.C. to Proceed Against Zions First National Bank

The United States Court of Appeals for the Third Circuit has breathed new life into a major case against Zions First National Bank for its alleged involvement in a scheme to defraud hundreds of thousands of depositors throughout the United States. The case was brought on behalf of the depositors by the Philadelphia law firm, Langer, Grogan & Diver, P.C. The Court vacated a lower court's determination that the case could not proceed as a class action on behalf of all of the harmed depositors. The Court cited internal Zions documents and quoted the conclusions of an expert for the plaintiffs that Zions, allowed the system to be used by High Risk originators whom it had to know were engaged in fraud in clear disregard of the governing rules and standards, made knowing misrepresentations to the other participants in the ACH [automated clearing house] system, facilitated the misuse of the system, and did all this knowing of facts from which, as a banking institution, it had to know fraud was taking place. Damages in the case have been estimated to be in excess of $50 million and are trebled under the federal RICO Act. The case is Reyes v. Netdeposit, et al., 14-1228, in the U.S. Court of Appeals for the Third Circuit.

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Recent Private Companies Transactions

Type
Date
Target
Bankruptcy
March 1, 2017
Eagan Avenatti LLP
 

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