Mealey's Banking & Finance - Judge: Bank Properly Credited Woman's Electronic Mortgage Payment

CHICAGO - A federal judge in Illinois on May 27 awarded summary judgment to a bank accused of violating the Truth in Lending Act, after finding that NYCB Mortgage Co. LLC properly credited a woman's mortgage account two days after she submitted an online payment because the defendant did not actually receive the funds until that time (Elena Fridman v. NYCB Mortgage Company LLC, No. 13 C 03094, N.D. Ill.; 2014 U.S. Dist. LEXIS 71736).

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