Mealeys

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Mealey's Banking & Finance - High Court To Review Woman's Petition To Rehear TILA Case Nov. 15
Posted on 1 Nov 2019 by Mealeys

WASHINGTON, D.C. - The U.S. Supreme Court on Oct. 30 said it will consider a woman's request to rehear arguments regarding her petition for a writ of certiorari in a Truth in Lending Act (TILA) suit at its Nov. 15 conference (Kimberly Cox v. Old Republic... Read More

Mealey's Banking & Finance - 9th Circuit Denies Man's Petition To Rehear TILA Rescission Ruling
Posted on 31 Oct 2019 by Mealeys

SEATTLE - A Ninth Circuit U.S. Court of Appeals panel on Oct. 28 denied a man's petition for rehearing of an earlier decision in which it found that the plaintiff could not rescind a loan under the Truth in Lending Act (TILA) because it was a residential... Read More

Mealey's Banking & Finance - Judge Denies Lender's Motion To Strike Class Claims Over Denied Modifications
Posted on 22 Oct 2019 by Mealeys

SPOKANE, Wash. - A federal judge in Washington on Oct. 18 denied Wells Fargo N.A.'s motion to strike a couple's class action allegations for a proposed class of Washington consumers who were wrongfully denied a loan modification as a result of... Read More

Mealey's Banking & Finance - Loan Servicer Maintains It Was Not Responsible For Property Tax Payment
Posted on 15 Oct 2019 by Mealeys

RICHMOND, Va. - Freedom Mortgage Corp. on Oct. 10 told the Fourth Circuit U.S. Court of Appeals that a ruling dismissing a borrower's lawsuit accusing it of violating the Real Estate Settlement Procedures Act (RESPA) for failing to pay his property... Read More

Mealey's Banking & Finance - Borrower Petitions 9th Circuit For Rehearing On TILA Rescission Ruling
Posted on 7 Oct 2019 by Mealeys

SEATTLE - A borrower who claims that a Ninth Circuit U.S. Court of Appeals panel erred when upholding a ruling that he could not rescind a loan under the Truth in Lending Act (TILA) because it was a residential mortgage transaction asked for a full panel... Read More

Mealey's Banking & Finance - Woman's Request For Supreme Court Review Of Ruling Dismissing TILA Suit Denied
Posted on 7 Oct 2019 by Mealeys

WASHINGTON, D.C. - The U.S. Supreme Court on Oct. 7 denied a woman's petition for review of a Ninth Circuit U.S. Court of Appeals ruling that affirmed dismissal of her Truth in Lending Act (TILA) lawsuit seeking rescission of her mortgage loan (Kimberly... Read More

Mealey's Banking & Finance - High Court Refuses To Take Up Ruling Vacating Man's Quiet Title Claim
Posted on 7 Oct 2019 by Mealeys

WASHINGTON, D.C. - The U.S. Supreme Court on Oct. 7 denied a man's petition for a writ of certiorari seeking review of a Ninth Circuit U.S. Court of Appeals' panel's ruling affirming summary judgment in favor of Mortgage Electronic Registration... Read More

Mealey's Banking & Finance - Judge Says Jury Should Decide If Mortgage Lender Breached Fiduciary Duty
Posted on 30 Sep 2019 by Mealeys

SPARTANBURG, S.C. - A federal judge in South Carolina on Sept. 26 ruled that a jury should determine whether a mortgage lender breached its fiduciary duty by failing to guide a couple through the process of closing on a loan and whether they sustained... Read More

Mealey's Banking & Finance - Man Cannot Pursue Claims Against Mortgage Lender Over Inaccurate Appraisal
Posted on 27 Sep 2019 by Mealeys

WORCESTER, Mass. - A federal judge in Massachusetts on Sept. 24 dismissed a man's lawsuit seeking rescission from a National Housing Act (NHA) loan from a mortgage lender after the property he purchased was condemned, holding that the loan was not... Read More

Mealey's Banking & Finance - Most Of Loan Servicer's Summary Judgment Motion Over Calls To Borrower Denied
Posted on 10 Sep 2019 by Mealeys

TAMPA, Fla. - A federal judge in Florida on Sept. 4 denied the majority of Ocwen Loan Servicing LLC's motion for summary judgment in a couple's suit accusing the company of violating the Telephone Consumer Protection Act (TCPA) and Florida Consumer... Read More

Mealey's Banking & Finance - Sacramento's Discriminatory Lending Suit Against Wells Fargo Survives Dismissal
Posted on 26 Aug 2019 by Mealeys

SACRAMENTO, Calif. - A federal judge in California on Aug. 22 denied a motion to dismiss the city of Sacramento's lawsuit accusing Wells Fargo & Co. and Wells Fargo Bank N.A. of engaging in discriminatory lending, finding that the city sufficiently... Read More

Mealey's Banking & Finance - Dismissal Of Couple's Wrongful Foreclosure Suit Upheld By 11th Circuit
Posted on 26 Aug 2019 by Mealeys

ATLANTA - An 11th Circuit U.S. Court of Appeals panel on Aug. 21 affirmed the dismissal of a couple's wrongful foreclosure suit against their mortgage lender, holding that the complaint failed to sufficiently allege a causal connection between the... Read More

Mealey's Banking & Finance - 9th Circuit Finds Man's Loan Not Subject To Rescission Under TILA
Posted on 20 Aug 2019 by Mealeys

SEATTLE - A Ninth Circuit U.S. Court of Appeals panel on Aug. 15 upheld a ruling awarding summary judgment to Chase Home Finance LLC (CHF), finding that a federal judge did not err when finding that a man's loan was a residential mortgage transaction... Read More

Mealey's Banking & Finance - 5th Circuit: Secondary Lender Must Have Valid Contract For Contractual Subrogation
Posted on 19 Aug 2019 by Mealeys

NEW ORLEANS - A Fifth Circuit U.S. Court of Appeals panel on Aug. 15 affirmed a ruling awarding a borrower summary judgment on her quiet title claim against the Federal Home Loan Mortgage Corp. (Freddie Mac), after finding that it was not entitled to... Read More

Mealey's Banking & Finance - U.S. Bank's Foreclosure Action Against Couple Was Timely, Judge Rules
Posted on 14 Aug 2019 by Mealeys

LAREDO, Texas - A federal judge in Texas on Aug. 12 awarded summary judgment to U.S. Bank N.A., after finding that its foreclosure action against a couple was timely because it was filed within three years of notifying the couple that it intended to accelerate... Read More

  • Blog Post: Bankruptcy Judge Lifts Stay In Tribune Fraudulent Conveyance Actions

    WILMINGTON, Del. - The federal bankruptcy judge presiding over the Chapter 11 proceeding of the Tribune Co. in the U.S. Bankruptcy Court for the District of Delaware on March 15 ordered the partial lifting of the automatic stay relating to fraudulent conveyance actions to allow parties to comply with...
  • Blog Post: Federal Judge Rules On Arbitration Agreement With Debt Resolution Service

    CLEVELAND - A federal judge in Ohio on March 14 granted in part the defendants' motion to dismiss, denied a defendant's motion to compel arbitration and dismissed the plaintiff's claims for monetary relief in a suit arising from the plaintiff's agreement with a debt resolution service...
  • Blog Post: Both Sides Awarded Summary Judgment In Truth In Lending Suit

    CHICAGO - A federal judge in Illinois on March 14 granted in part and denied in part motions for summary judgment filed by plaintiffs and defendants in a suit in which the plaintiffs seek rescission of loans and statutory damages under the Truth in Lending Act (TILA) (Iroanyah, et al v. Bank of America...
  • Blog Post: U.S. Solicitor General Tells Supreme Court Creditor Must Be Allowed To Bid

    WASHINGTON, D.C. - In an amicus brief made available March 15, the U.S. solicitor general argues that the U.S. Supreme Court should find that in the absence of good cause, a Chapter 11 bankruptcy plan may not sell encumbered property fee and clear of the lien of a nonconsenting secured creditor without...
  • Blog Post: Panel Grants Stay In SEC, Citigroup $285M Settlement Dispute

    NEW YORK - The Securities and Exchange Commission and Citigroup Global Markets Inc. face a substantial likelihood of success in overturning a federal judge's denial of their $285 million settlement agreement, a Second Circuit U.S. Court of Appeals panel ruled March 15 in a per curiam opinion (United...
  • Blog Post: Class Claims Over Motorola Android Phone Dismissed Without Prejudice

    SAN FRANCISCO - A California federal judge on March 14 dismissed without prejudice putative class action claims that Motorola Mobility Inc. induced consumers to buy or keep a phone they otherwise would not have by misrepresenting plans to upgrade the phones' Android operating system ( Elyse Wood...
  • Blog Post: HAMP Does Not Preempt Woman's Breach Of Contract Claim, Judge Rules

    PORT HURON, Mich. - The Home Affordable Modification Program (HAMP) does not preempt a Michigan woman's state law breach of contract claim because her allegations are based on Wells Fargo Home Mortgage Inc.'s alleged breach of a trial period plan (TPP) rather than a violation of the statute itself...
  • Blog Post: 9th Circuit Upholds Ruling Requiring Man To Pay Rent During Injunction Period

    PASADENA, Calif. - A Ninth Circuit U.S. Court of Appeals panel said in a ruling filed March 14 that a federal judge did not abuse her discretion in requiring a man to make monthly payments of $2,016.50 during an injunction period on the foreclosure of his home because the amount of the payments is close...
  • Blog Post: Federal Judge Dismisses Securities Claims In BP Oil Spills Class Action

    SEATTLE - A federal judge in Washington on March 15 ruled that lead plaintiffs in a securities class action lawsuit against BP PLC, one of its subsidiaries and two former executive officers have failed to properly plead scienter in making their claims that the defendants misrepresented the extent of...
  • Blog Post: Federal Judge: $40M Rothstein Adversary Case Stays In Bankruptcy Court

    WEST PALM BEACH, Fla. - A federal judge in Florida on March 16 remanded to bankruptcy court a $40 million adversary proceeding brought by the Chapter 11 trustee of bankrupt law firm Rothstein Rosenfeldt & Adler (RRA). The trustee alleges that hedge fund managers capitalized on a Ponzi scheme run...
  • Blog Post: Citibank Settles Suit Alleging Excessive Interest On Military Student Loans

    MINNEAPOLIS - Citibank has agreed to pay $2.3 million to settle a proposed class action suit accusing the bank of charging excessive interest on student loans made to armed forces members in violation of the Servicemembers Civil Relief Act (SCRA), according to a document filed March 15 in a Minnesota...
  • Blog Post: Consumer Failed To Properly Plead Credit-Reporting Act Claims, Judge Rules

    SAN DIEGO - A consumer has failed to plead any of his state credit-reporting act and unfair competition law claims against his former lender and three credit-reporting agencies, a federal judge in California ruled March 14 in dismissing the consumer's amended complaint with prejudice (Ronnie Miller...
  • Blog Post: 8th Circuit Affirms Dismissal Of Claims Against Discover Bank's Counsel

    ST. LOUIS - The Eighth Circuit U.S. Court of Appeals on March 16 affirmed the dismissal of claims against a law firm that was hired by Discover Bank to collect on a credit card debt (Heather Hemmingsen v. Messerli & Kramer, P.A., No. 11-2029, 8th Cir.; 2012 U.S. App. LEXIS 5502).
  • Blog Post: Madoff Trustee Agrees To $162M Settlement With New York Mets' Owners

    NEW YORK - The owners of Major League Baseball's New York Mets and the liquidation trustee of Bernard L. Madoff Investment Securities LLC (BLMIS) agreed on March 19 to a $162 million settlement of claims relating to the defendants' alleged profiting from Madoff's massive Ponzi scheme ( Irving...
  • Blog Post: Federal Judge Recommends Judgment For Government In Student Loan Litigation

    WILMINGTON, Del. - A federal judge in Delaware on March 19 recommended that summary judgment be granted in favor of the U.S. government in a suit in which the government says a defendant defaulted on student loans (USA v. Pearson, No. 10-00442, D. Del.; 2012 U.S. Dist. LEXIS 36189).
  • Blog Post: Judge Finds Woman Adequately Alleged Loan Servicer Is Debt Collector

    CHICAGO - A federal judge in Illinois on March 19 refused to dismiss a woman's claim that her loan servicer violated the Fair Debt Collection Practices Act (FDCPA) by charging excessive and illegal fees in connection with her mortgage loan and misapplying her payments because she adequately alleged...
  • Blog Post: U.S. Trustee: MF Global Trustee Cannot Retain His Own Firm As Accountant

    NEW YORK - The U.S. trustee on March 19 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York, contending that the Chapter 11 trustee of MF Global Holdings Ltd., Louis J. Freeh, cannot retain his own firm as his accountant (In Re: MF Global Holdings Ltd., No. 11-15059, Chapter...
  • Blog Post: 11th Circuit: Incomplete Dates On Disclosure Form Did Not Violate Statute

    ATLANTA - An 11th Circuit U.S. Court of Appeals panel on March 19 ruled that incomplete dates documenting the end of the three-day rescission period on a woman's notice of right to cancel form did not violate the Truth in Lending Act (TILA) because the information still provided clear and conspicuous...
  • Blog Post: Kodak: Bankruptcy Court Needs 2nd Investigation Of Apple's Patent Claims

    NEW YORK - Bankrupt Eastman Kodak Co. on March 19 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York, arguing that Apple's assertion that it owns 10 patents that Kodak claims as its own requires an investigation under the Federal Rules of Bankruptcy Procedure (In Re...
  • Blog Post: Federal Judge Sanctions Plaintiff's Counsel In Credit Reporting Suit

    PHILADELPHIA - A federal judge in Pennsylvania on March 16 granted in part a defendant's motion for sanctions against the plaintiff's counsel in a suit that alleged violations of the Fair Credit Reporting Act (FCRA) (Price v. Trans Union LLC, et al., No. 09-01332, E.D. Pa.; 2012 U.S. Dist. LEXIS...
  • Blog Post: Judge: Lead Plaintiffs Failed To Plead Materiality In Making Securities Claims

    NEW YORK - A federal judge in New York on March 16 granted two motions to dismiss a shareholder class action lawsuit alleging that Bank of America Corp. (BAC) and others misrepresented the investment quality of securities it sold to the shareholders in violation of federal securities law, ruling that...
  • Blog Post: Judge: Denial Of Credit Too Speculative An Injury To Support Claim

    LAS VEGAS - A federal judge in Nevada on March 20 dismissed a man's lawsuit alleging that Bank of America N.A. and its subsidiaries' violations of the Real Estate Settlement Procedures Act (RESPA) and Fair Credit Reporting Act (FCRA) caused him to suffer denial of credit and damage to his credit...
  • Blog Post: 9th Circuit Affirms Dismissal Of Ponzi Class Actions Against JP Morgan

    SAN FRANCISCO - The Ninth Circuit U.S. Court of Appeals on March 20 affirmed the dismissals of two Ponzi scheme class actions filed against JP Morgan Chase Bank N.A. as the successor to Washington Mutual Inc. (WaMu) (Benson, et al., v. JP Morgan Chase Bank, N.A., No. 10-17402; Lowell v. JP Morgan Chase...
  • Blog Post: Panel: Debt Collector Not A Creditor Under Fair Debt Collection Practices Act

    MIAMI - A law firm violated provisions of the Fair Debt Collection Practices Act (FDCPA) by falsely representing that a debt collector was a "creditor" in a debt collection notice for a loan on which the consumer defaulted, an 11th Circuit U.S. Court of Appeals panel ruled in an opinion made...
  • Blog Post: 3rd Circuit Upholds Ruling That State Court Foreclosure Action Barred Woman's Suit

    PHILADELPHIA - A foreclosure action brought against a woman in Pennsylvania state court precluded her from filing a lawsuit challenging the foreclosure and asserting other claims because the allegations in the suits were inextricably intertwined, a Third Circuit U.S. Court of Appeals panel ruled March...