LexisNexis® Legal Newsroom
Mealey's Banking & Finance - Judge Finds No Support For UCL Claim Against Chase, Grants Dismissal

SAN JOSE, Calif. - After finding that a borrower failed to allege facts to support his claims for violation of California's unfair competition law (UCL) and civil code, a California federal judge on Sept. 6 granted a bank's motion to dismiss the claims with leave to amend (Chris Monet v. JPMorgan...

Mealey's Banking & Finance - Panel Finds Foreclosure Claims Against Ocwen Are Barred By Res Judicata

ATLANTA - A panel of the 11th Circuit U.S. Court of Appeals on Sept. 7 affirmed a trial court's decision, finding that it did not err in refusing to remand and dismissing a borrower's claims related to the foreclosure of his property (Derek Quinn v. Ocwen Loan Servicing LLC, et al., No. 16-17442...

Mealey's Banking & Finance - Judge Rejects Request For Oversight Of Chase's Actions Related To Loans

NEW YORK - After finding that several lenders failed to demonstrate a likelihood of harm, a New York federal judge on Sept. 11 denied their request for a preliminary injunction, seeking court oversight or the the appointment of a special master to oversee a bank's actions in relation to loans that...

Mealey's Banking & Finance - Judge: UCL Claims Against Wells Fargo For Collection Of Interest Can Stand

OAKLAND, Calif. - After finding that the majority of a borrower's claims for violation of California's unfair competition law (UCL) in relation to a bank's collection of mortgage post-payment interest were properly pleaded, a California federal judge on Sept. 11 denied the majority of the...

Mealey's Banking & Finance - Anti-Injunction Act Bars Request For Order Preventing Foreclosure, Judge Finds

GREENVILLE, S.C. - After finding that a borrower's request for an injunction barring lenders from taking any foreclosure-related action against her property was prohibited by the Anti-Injunction Act, a South Carolina federal judge on Sept. 14 adopted a magistrate's judge's recommendation...

Mealey's Banking & Finance - Fannie Mae Violated Mortgage By Accelerating Loan, Federal Judge Rules

PROVIDENCE, R.I. - After finding that a lender breached the terms of a mortgage, a Rhode Island federal judge on Sept. 15 denied its counterclaim for an order allowing judicial foreclosure and granted summary judgment in favor of the borrowers (Nancy A. Boynton, et al. v. Federal Housing Finance Agency...

Mealey's Banking & Finance - Judge: Bank Has Right To Reimbursement From Insurer For Post-Merger Defense Costs

NEWARK, N.J. - A New Jersey federal judge on Sept. 18 found that a bank involved in a corporate merger has a right to reimbursement under a directors and officers liability insurance policy for its post-merger defense costs vis-a-vis the independent directors involved in a shareholder class action (BCB...

Mealey's Banking & Finance - Judge Finds HOA Sale Was Based On Unconstitutional Nevada Housing Law

RENO, Nev. - A Nevada federal judge on Sept. 20 granted summary judgment in favor of a loan servicer, finding that a homeowners association foreclosure sale was based on an unconstitutional statute and did not extinguish the servicer's deed on the property (Green Tree Servicing LLC, et al. v. Rainbow...

Mealey's Banking & Finance - Federal Judge Finds Borrower's FDCPA Claim Against Loan Servicer Fails

ISLIP, N.Y. - After finding that a borrower was not a consumer under the Fair Debt Collection Practices Act (FDCPA), a New York federal judge on Sept. 19 dismissed her complaint against a loan servicer in relation to a notice and default letter (Janine Carbone v. Caliber Home Loans Inc., No. 15-5190...

Mealey's Banking & Finance - Homeowners Say Reinsurer, Mortgagors Are Not Entitled To Judgment On RESPA Claim

PITTSBURGH - In a mortgage insurance reinsurance scheme case, mortgagors and a reinsurer are not entitled to judgment on a Real Estate Settlement Procedures Act (RESPA) claim under Third Circuit U.S. Court of Appeals law, homeowners say in a brief filed Sept. 19 in a Pennsylvania federal court (Linda...

Mealey's Banking & Finance - Final Approval Granted To $25 Million Home Depot Data Breach Suit Settlement

ATLANTA - A class action brought by a group of financial institutions (FIs) over a 2014 data breach experienced by Home Depot Inc. came to a close Sept. 22, when a Georgia federal judge granted final approval of a settlement that includes enhanced data security procedures by the home improvement chain...

Mealey's Banking & Finance - Judge Finds Claims Against M&T Related To Scheme Are Time-Barred

BALTIMORE - After finding that a borrower's claims related to a lender's alleged fraud-for-profit scheme was barred by a statute of limitations and that he failed to assert facts to support his other allegations, a Maryland federal judge on Sept. 25 granted dismissal of the case in favor of a...

Mealey's Banking & Finance - Judge Dismisses Borrower's Foreclosure-Related Claims As Barred By Res Judicata

HOUSTON - A Texas federal judge on Sept. 26 granted a lender's motion for summary judgment on claims related to a foreclosure of a property, finding that a previous lawsuit filed by the borrowers involved the same claims and parties and barred the current action (Rafael F. Vazquez, et al. v. Selene...

Mealey's Banking & Finance - Panel Finds Foreclosure Case Did Not Trigger Statute Of Limitations

ATLANTA - After determining that a property foreclosure never actually occurred, the 11th Circuit U.S. Court of Appeals on Sept. 26 affirmed a district court's decision dismissing a complaint filed by borrowers seeking injunctive relief against various lenders (Jorge E. Espinoza v. Countrywide Home...

Mealey's Antitrust/Unfair Competition - ACA, UCL Claims Against Health Care Provider Survive In Transgender Case

SAN DIEGO - Allegations that an emergency health care provider touted its compassion toward those with gender dysphoria and then repeatedly referred to a transgender boy as female support his mother's Patient Protection and Affordable Care Act (ACA) and California unfair competition law claims, a...

Mealey's Banking & Finance - 1st Circuit Affirms Dismissal Of Borrower's Predatory Lending Claim

BOSTON - The First Circuit U.S. Court of Appeals on Sept. 29 affirmed a district court's decision to dismiss a borrower's claim for violation of Massachusetts' predatory lending law, finding that the claim was barred by a five-year statute of limitations (John Rife v. One West Bank, F.S.B...

Mealey's Banking & Finance - Judge Refuses To Stay TILA Action Pending Outcome Of Writ

SAN DIEGO - After finding that a borrower failed to show that he would likely succeed on the merits of his petition before an appeals court for review of an order denying his requests for discovery regarding his mortgage, a California federal judge on Oct. 4 refused to stay the case pending the outcome...

Mealey's Banking & Finance - 9th Circuit Finds Lender's Actions Did Not Cause Injury To Property Owners

SEATTLE - The Ninth Circuit U.S. Court of Appeals on Oct. 5 rejected an appeal of a court's decision to dismiss their claims against lenders under Washington law, finding that borrowers failed to show that any allegedly unfair actions committed by the lenders caused them to suffer an injury (Stephanie...

Mealey's Banking & Finance - Judge Awards Fair Housing Center $127,302 In Damages For Unfair Housing Practices

SEATTLE - After determining that a property owner and manager engaged in discriminatory housing practices, a Washington federal judge on Oct. 5 awarded a fair housing center $127,302 in actual and punitive damages (Fair Housing Center of Washington v. Breier-Scheetz Properties LLC, et al., No. 16-922...

Mealey's Banking & Finance - Federal Judge Dismisses RESPA Claim As Barred By State Court Ruling

CHICAGO - After finding that a borrower's claims related to his requests for a loan modification from a lender were barred by a previous state court foreclosure judgment, an Illinois federal judge on Oct. 10 dismissed his claim for violation of the Real Estate Settlement and Procedures Act (RESPA...

Mealey's Banking & Finance - 11th Circuit Finds No Existence Of Loan Modification, Affirms Dismissal

ATLANTA - The 11th Circuit U.S. Court of Appeals on Oct. 10 affirmed a district court's dismissal of claims for discrimination and breach of contract asserted by a borrower in relation to an alleged loan modification, finding that a lender and loan servicer never offered a modification (Angela Molina...

Mealey's Banking & Finance - Judge Dismisses UCL Claim, But Rejects Health Insurer's ERISA Preemption Stance

SAN FRANCISCO - A substance abuse treatment center's three surviving claims involve a provider-insurer relationship outside ERISA's scope, but the provider's unfair competition law (UCL) claims seek relief available through other means and are not among the surviving causes of action, a federal...

Mealey's Banking & Finance - Judge Finds Borrowers Waived The Right To Seek A Jury Trial

ORLANDO, Fla. - A Florida federal judge on Oct. 13 granted a bank's motion to strike a claim for jury demand as to a claim for violation of federal housing law asserted by former homeowners, finding that the request was prohibited by a waiver in the loan documents (Julie O'Steen, et al. v. Wells...

Mealey's Banking & Finance - Federal Judge Dismisses UCL, Negligence Claims Against 360 Mortgage

SAN FRANCISCO - A California federal judge on Oct. 16 granted a loan servicer's motion to dismiss all of a borrower's claims against it for failure to state a claim but granted him leave to amend his claims for violation of California's unfair competition law (UCL) and negligence (Cristian...

Mealey's Banking & Finance - SEC Investigation Does Not Trigger Coverage For $3M In Legal Costs, Panel Affirms

DENVER - The 10th Circuit U.S. Court of Appeals on Oct. 17 affirmed a lower federal court's entry of summary judgment in favor of an insurer, rejecting the insured's argument that an investigation by the U.S. Securities and Exchange Commission is a claim under its directors and officers liability...