LexisNexis® Legal Newsroom
Mealey's Banking & Finance - Federal Judge Says Securities Violation Suit Filed Within Statute Of Limitations

NEW YORK - A New York federal judge on Aug. 14 denied a motion to dismiss filed by seven defendants in a suit alleging violations of the Securities Exchange Act after determining that the suit was filed within the act's two-year statute of limitations (Eton Park Fund L.P., et al. v. American Realty...

Mealey's Banking & Finance - 5th Circuit Reinstates Challenge Of Foreclosure, Finds 2 Rulings Changed Texas Law

NEW ORLEANS - A Fifth Circuit U.S. Court of Appeals panel on Aug. 15 partially reversed a trial court's decision and ruled that Wood v. HSBC Bank USA, N.A., 505 S.W.3d 542 (Tex. 2016), and Garofolo v. Ocwen Loan Servicing, L.L.C., 497 S.W.3d 474 (Tex. 2016), constitute intervening changes in law...

Mealey's Banking & Finance - Judge Limits Man's Claims Stemming From Foreclosure Notice, Letter Verifying Debt

DETROIT - A federal judge in Michigan on Aug. 18 ruled that a man can pursue certain claims under the Fair Debt Collection Practices Act (FDCPA) and its state law equivalent over a debt collector's debt verification letter and publication of a foreclosure notice (Timothy A. Thebert v. Potestivo &...

Mealey's Banking & Finance - 11th Circuit Affirms Dismissal Of TILA Claims Against JP Morgan Chase

ATLANTA - The 11th Circuit U.S. Court of Appeals on Aug. 25 affirmed a district court's order dismissing a complaint filed by a borrower against a bank, finding that the borrower's claims for violation of the Truth in Lending Act (TILA) were not valid (Alexander Harvin v. JP Morgan Chase Bank...

Mealey's Banking & Finance - Panel Finds Freddie Mac Owns Foreclosed Property Purchased Through HOA

SAN FRANCISCO - The Ninth Circuit U.S. Court of Appeals on Aug. 31 affirmed a district court's ruling in favor of a lender, finding that a foreclosure law preempted Nevada law that had previously extinguished the lender's interest in a foreclosure property that was purchased through a homeowners'...

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 - 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 - 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 - 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 - 9th Circuit Finds No Support For RESPA, FDCPA Claims Against Wells Fargo

SEATTLE - The Ninth Circuit U.S. Court of Appeals on Oct. 26 affirmed a district court's decision to dismiss claims for violation of the Fair Debt Collection Practices Act (FDCPA) and the Real Estate Settlement Procedures Act (RESPA) asserted against a bank, finding that a borrower failed to show...

Mealey's Banking & Finance - 6th Circuit Vacates Ruling Dismissing FDCPA Claim Against Loan Servicer

CINCINNATI - The Sixth Circuit U.S. Court of Appeals on Oct. 27 vacated a decision that found that a loan servicer was not a debt collector under the Fair Debt Collection Practices Act (FDCPA) and dismissed a borrower's claims against it, but affirmed dismissal of claims for fraud and violation of...

Mealey's Banking & Finance - 6th Circuit Affirms Dismissal Of Claims Related To Foreclosure Notice

CINCINNATI - The Sixth Circuit U.S. Court of Appeals on Nov. 1 affirmed a district court's decision granting dismissal of foreclosure-related claims asserted by a borrower against a bank, finding that all of the claims were precluded by a final judgment issued in a previous related action (Robert...

Mealey's Banking & Finance - 6th Circuit Finds Fannie Mae, Others Were Not Debt Collectors Under FDCPA

CHICAGO - A panel of the Sixth Circuit U.S. Court of Appeals on Nov. 6 found that a borrower failed to show that lenders lacked standing to foreclose or that they qualified as debt collectors under the Fair Debt Collection Practices Act (FDCPA), affirming the dismissal of his complaint for failure to...

Mealey's Banking & Finance - Supreme Court Refuses To Consider Whether Rooker-Feldman Barred FDCPA Claim

WASHINGTON, D.C. - The U.S. Supreme Court on Nov. 13 refused to grant certiorari in a case in which borrowers sought review of an appeals court's ruling to affirm the dismissal of their claim for violation of the Fair Debt Collection Practices Act (FDCPA) as barred by a foreclosure case in a state...

Mealey's Banking & Finance - 9th Circuit Affirms Dismissal Of TILA, FDCPA Claims Against CitiMortgage

PASADENA, Calif. - The Ninth Circuit U.S. Court of Appeals on Nov. 17 affirmed a district court's decision granting summary judgment for a mortgage lender, finding that a claim for violation of the Truth in Lending Act (TILA) asserted by borrowers was time-barred and that the lender was not a debt...

Mealey's Banking & Finance - 6th Circuit Finds Foreclosure-Related Claims Are Barred By Res Judicata

CINCINNATI - The Sixth Circuit U.S. Court of Appeals on Nov. 22 affirmed a trial court's dismissal of a borrower's claims related to a property foreclosure, finding that the case was barred by an earlier case (Quannah L. Harris v. Ocwen Loan Servicing LLC, et al., No. 17-5399, 6th Cir., 2017...

Mealey's Banking & Finance - 9th Circuit Finds Lenders Had Authority To Foreclose, Affirms Dismissal

PASADENA, Calif. - After finding that various mortgage-related entities had the authority to foreclose on a property, the Ninth Circuit U.S. Court of Appeals on Nov. 22 affirmed a trial court's dismissal of a borrower's claims for violation of California's unfair competition law (UCL) and...

Mealey's Banking & Finance - Court Finds Bank's Demurrer To UCL, TILA Claims Was Properly Sustained

SAN JOSE, Calif. - A California appeals court on Nov. 21 found that a trial court properly sustained a bank's demurrer as to numerous claims asserted by former property owners, including claims for violation of California's unfair competition law (UCL) and the Truth in Lending Act (TILA), finding...

Mealey's Banking & Finance - 9th Circuit Affirms Dismissal Of Foreclosure Claims, Finds No Error

PASADENA, Calif. - After finding that property owners failed to comply with Nevada housing law in relation to a quit claim deed for a foreclosed on property, the Ninth Circuit U.S. Court of Appeals on Nov. 22 affirmed the dismissal of their complaint for wrongful foreclosure (Wayne A. Seare, et al. v...

Mealey's Banking & Finance - High Court Will Not Consider Scope Of FDCPA In Relation To Trustees

WASHINGTON, D.C. - The U.S. Supreme Court on Dec. 4 denied certiorari to a borrower, refusing to review whether a trustee is considered a debt collector under the Fair Debt Collection Practices Act (FDCPA) (Vien-Phuong Thi Ho v. ReconTrust Company, NA, et al., No. 17-278, U.S. Sup.).

Mealey's Banking & Finance - 5th Circuit Finds Loan Transaction Was Not Void, Affirms Dismissal

NEW ORLEANS - After finding that a borrower failed to show that the sale of a mortgage between lenders was void, the Fifth Circuit U.S. Court of Appeals on Dec. 1 affirmed a district court's summary judgment ruling for the lenders (David Johnson v. Real Estate Mortgage Network, et al., No. 17-20347...

Mealey's Banking & Finance - 2nd Circuit Vacates Ruling Denying Borrower Leave To Amend Complaint

NEW YORK - The Second Circuit U.S. Court of Appeals on Dec. 5 affirmed a district court's dismissal of a borrower's claims asserted against a lender and loan servicer related to his default on a mortgage, but vacated the court's denial of his request to amend his complaint and to add a new...

Mealey's Banking & Finance - 7th Circuit Affirms Dismissal Of TILA Rescission Claims As Untimely

CHICAGO - After finding that a former homeowner's right to file a lawsuit in relation to rescission under the Truth in Lending Act (TILA) had expired years before he filed his case against a bank, the Seventh Circuit U.S. Court of Appeals on Dec. 12 affirmed a decision to dismiss his claims as untimely...