Last week, the U.S. Supreme Court heard oral argument in the case of Timbs v. Indiana, which presents the issue of whether the prohibition on excessive fines in the Eighth Amendment of the U.S. Constitution is incorporated against the States under the Fourteenth Amendment.  Although it involves a civil asset forfeiture arising from the petitioner’s criminal conviction, the case could have significant implications for consumer financial services companies facing fines and penalties sought by State attorneys general and regulators. … Continue Reading