LexisNexis® Legal Newsroom
Mealey's Banking & Finance - 6th Circuit Finds Disability Coverage Claims Preempted By ERISA

CINCINNATI - After finding that a former marketing director's claims for coverage against a medical review company were completely preempted by the Employee Retirement Income Security Act, the Sixth Circuit U.S. Court of Appeals on Feb. 17 affirmed dismissal of the claims and found that a previous...

Mealey's Banking & Finance - Court Finds Borrowers Have No Standing To Challenge Foreclosure

SAN FRANCISCO - A California appellate panel on Feb. 17 affirmed a ruling in favor of various lenders, finding that property owners failed to show that they had standing to challenge a foreclosure under a pooling and services agreement (Hanneke C. Gary R. Lohse, v. Nationstar Mortgage LLC, et al., No...

Mealey's Banking & Finance - Federal Judge Refuses To Remand Florida Homeowners' FDUPTA Claims

TAMPA, Fla. - A Florida federal judge on Feb. 21 denied a motion filed by 30 property owners to remand their claims related to a bank's denial of their requests for loan modifications, finding that the amount in controversy exceeds $75,000 (Abelardo Alonso, et al. v. Bank of America, N.A., No. 8...

Mealey's Banking & Finance - Judge: Suit Arises Out Of Exclusion For 'Insufficiency In The Amount Of Proceeds'

BALTIMORE - A Maryland federal judge on Feb. 17 found that coverage for an underlying lawsuit alleging that an insured was negligent in the provision of settlement services for the sale of a home is barred by a professional liability insurance policy's exclusion for "insufficiency in the amount...

Mealey's Banking & Finance - 9th Circuit Affirms Dismissal Of TILA Claim As Barred

SAN FRANCISCO - The Ninth Circuit U.S. Court of Appeals on Feb. 24 affirmed a federal judge's decision to dismiss a borrower's claims for violation of the Truth in Lending Act (TILA) as barred by a previous bankruptcy case in which the claims against various lenders were already resolved (Jacqueline...

Mealey's Banking & Finance - 9th Circuit Finds Wrongful Foreclosure Case Was Properly Dismissed

PASADENA, Calif. - The Ninth Circuit U.S. Court of Appeals on Feb. 23 affirmed a district court's dismissal of claims asserted against lenders in relation to a foreclosure, finding that a former property owner's complaint failed to state a claim (Cindy Dupre v. Mount West Financial Inc., et al...

Mealey's Banking & Finance - Judge Finds Fraud Claims Against Wells Fargo Are Barred By Foreclosure

TULSA, Okla. - An Oklahoma federal judge on Feb. 24 granted a bank's motion to dismiss claims for fraud and conspiracy asserted by a former property owner against it, finding that the claims were barred by a foreclosure judgment issued in favor of the lender (William Keith Lemay v. Wells Fargo Bank...

Mealey's Banking & Finance - Federal Judge Dismisses Borrower's Complaint For Lack Of Sufficient Clarity

TAMPA, Fla. - After finding that a complaint filed by borrowers in relation to the foreclosure of their property lacked claims with sufficient clarity, a Florida federal judge on Feb. 28 dismissed the complaint as a "shotgun pleading" (Lilia Mesa, et al. v. Kajaine Fund III, LLC, et al., No...

Mealey's Banking & Finance - Judge Grants Dismissal For Loan Servicer, Allows FDCPA Claim To Proceed

CHICAGO - An Illinois federal judge on Feb. 28 partially granted a loan servicer's motion to dismiss a claim for violation of Illinois state law in relation to certain damages that it determined were not calculable, but found that her claims for violation of the Fair Debt Collection Practices Act...

Mealey's Banking & Finance - Judge: No Directors, Officers Liability Coverage Owed For Promissory Note Dispute

HARTFORD, Conn. - A Connecticut federal judge on Feb. 28 dismissed breach of contract, unjust enrichment, conversion and declaratory judgment claims against a directors and officers liability insurer, finding that the insured's failure to provide the insurer with timely notice of an underlying claim...

Mealey's Banking & Finance - 11th Circuit Finds Lack Of Standing, Affirms Dismissal Of RESPA Claim

ATLANTA - The 11th Circuit U.S. Court of Appeals on March 1 affirmed a district court's decision to dismiss a borrower's claim for violation of the Real Estate Settlement Procedures Act (RESPA) in relation to a written request for information, finding that he failed to show that he had standing...

Mealey's Banking & Finance - 3rd Circuit Finds Arguments For Reconsideration Of Dismissal Are Meritless

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on March 3 found that a district court did not err when it denied a motion for reconsideration, finding that the court properly dismissed the case after borrowers failed to timely file an amended complaint in relation to their claim for violation...

Mealey's Banking & Finance - Federal Judge Finds No Modification Request, Dismisses UCL Claim

SACRAMENTO, Calif. - A California federal judge on March 6 granted a bank and a servicer's motion to dismiss claims for violation of California's unfair competition law (UCL) and Labor Code, finding that a property owner failed to show that he had a loan modification request pending at the time...

Mealey's Banking & Finance - Judge Finds No Support For Defamation Claim Against Loan Servicer

GRAND RAPIDS, Mich. - A Michigan federal judge on March 3 granted a mortgage-servicing company's motion for summary judgment on a borrower's claim for defamation related to the publication of a foreclosure notice, finding that the property owner had defaulted on the mortgage by the time the notice...

Mealey's Banking & Finance - 9th Circuit Finds Borrower Lacks Standing To Assert UCL Violation

PASADENA, Calif. - The Ninth Circuit U.S. Court of Appeals on March 6 affirmed dismissal of a homeowner's claims for violation of California's unfair competition law and other California law, finding that there was no private right of action available to him under the law or that loan servicers...

Mealey's Banking & Finance - Judge Finds TILA Claim Was Untimely, Grants Dismissal For Bank

CHICAGO - An Illinois federal judge on March 8 found that a former property owner's claim for violation of the Truth in Lending Act (TILA) that arose out of an alleged attempt to rescind his mortgage was barred by a three-year statute of limitations, granting a motion to dismiss the case filed by...

Mealey's Banking & Finance - 3rd Circuit Finds Chase Improperly Calculated Insurance Termination Date

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on March 9 affirmed a district court's order denying a bank's motion to dismiss claims for violation of the Homeowners' Protection Act, finding that the court did not err in finding that the bank violated the act when it relied on a broker's...

Mealey's Labor & Employment - Texas Federal Judge Denies Motion To Amend ERISA Complaint Against BP

HOUSTON - A Texas federal judge on March 8 denied a motion filed by participants and beneficiaries of BP entities' employee investment and savings plans covered by the Employee Retirement Income Security Act to file an amended complaint related to the Deepwater Horizon Gulf of Mexico oil spill that...

Mealey's Banking & Finance - 10th Circuit Finds TILA Rescission Claim Against Banks Was Not Properly Filed

DENVER- After finding that a property owner did not give written notice to rescind a mortgage under the Truth in Lending Act (TILA) within the required time period, the 10th Circuit U.S. Court of Appeals on March 13 affirmed the dismissal of his foreclosure-related claims asserted against two banks and...

Mealey's Banking & Finance - 9th Circuit Finds Chase Falsely Promised Loan Modification To Borrower

LOS ANGELES - The Ninth Circuit U.S. Court of Appeals on March 13 affirmed a district court's finding that a property owner asserted a viable claim for violation of California's unfair competition law (UCL) but reversed its rulings in favor of a bank on the property owner's claims for breach...

Mealey's Banking & Finance - Judge Finds Claims Against Wells Fargo Were Adjudicated In Previous Cases

SEATTLE - A Washington federal judge on March 15 granted judgment for a bank, finding that a borrower's claims related to a nonjudicial foreclosure were barred because the same facts underlying the case were already asserted in two other previously filed actions (Paul Frederick Genung v. Clear Recon...

Mealey's Banking & Finance - 5th Circuit Finds Banks Timely Foreclosed, Affirms Decision On Tolling Period

NEW ORLEANS - The Fifth Circuit U.S. Court of Appeals on March 16 affirmed a district court's judgment in favor of two banks, finding that a nonjudicial foreclosure of a property was not barred by a four-year statute of limitations (John Porterfield, et al. v. JP Morgan Chase, N.A., No. 16-50215...

Mealey's Banking & Finance - Federal Judge Finds RESPA Claim Related To Loss Mitigation Fails

FLORENCE, S.C. - A Michigan federal judge on March 21 found that a borrower failed to allege a violation of the Real Estate Settlement Procedures Act (RESPA) in relation to the denial of her loan modification application, finding that even if her claims against the lenders were true, she failed to state...

Mealey's Banking & Finance - Judge Finds Default Did Not Relieve Lender Of Contractual Obligations

DETROIT - A Michigan federal judge on March 21 refused to dismiss a former property owner's claims that a lender breached a settlement agreement when it refused to consider his loan modification, finding that the lender failed to show that dismissal was warranted (Dominick Gray v. CitiMortgage Inc...

Mealey's Banking & Finance - Judge Overrules Objections In Foreclosure-Related Action Against Lenders

MONTGOMERY, Ala. - An Alabama federal judge on March 22 overruled objections submitted by lenders and a borrower to a magistrate judge's report and recommendation that some claims related to a foreclosure be allowed to proceed but noted that some of the objections would be better adjudicated on summary...