In an action by a general contractor against a bank arising out of a construction loan, the Wisconsin Supreme Court recently held that the trial court properly exercised its discretion when it imposed a default judgment against the defendant bank as a sanction for discovery violations.
Posts published in “Banking”
The Appellate Court of Illinois, Second District, recently affirmed the trial court’s entry of judgment in favor of the plaintiff mortgagee in a commercial mortgage foreclosure case, and against two corporate officers of two corporate guarantors.
The U.S. Court of Appeals for the Sixth Circuit recently held that a bank services agreement and its subsequent amendments were invalid to the extent that they materially changed the terms of the original agreement.
The U.S. Court of Appeals for the Sixth Circuit recently held that loans incurred by a debtor to pay university tuition were “qualified education loans” under the Bankruptcy Code and thus were not dischargeable.
In a putative class action against a bank for alleged underpayment of overtime wages, the U.S. Court of Appeals for the Ninth Circuit recently held the use of a potentially improper pay structure was not evidence of harm in every instance, and thus the predominance requirement provided for in Fed. R. Civ. Pro. 23(b)(3) necessary to certify a class action was not met.
The U.S. Court of Appeals for the First Circuit recently reversed the judgment of a trial court declaring a home equity line of credit invalid, but granting the holder of the HELOC an equitable lien on the HELOC’s secured property.
The U.S. Court of Appeals for the Ninth Circuit recently held that the application of Nevada’s “superpriority lien” statute was not an uncompensated taking under the Takings Clause nor did it violate the Due Process Clause of the U.S. Constitution.
The Illinois Court of Appeals for the First District recently held a bank was not justified in relying on borrowers’ misrepresentations made during a loan modification process, where the borrowers’ prior conduct presented the bank with reason to follow up on the borrowers’ misrepresentations, and the misrepresentations would not have been hard to discover.
The U.S. Court of Appeals for the Ninth Circuit recently held that the city of Oakland’s amended complaint alleging unlawful discriminatory lending practices against a national bank and its parent holding company sufficiently stated a claim that its decreased property tax revenues, but not its increased municipal expenses, were proximately caused by the alleged predatory lending practices.
The Court of Appeals of California, First District, recently held that online digital currency exchange platforms have no obligation, in contract or in tort, to honor "forked" cryptocurrencies unless affirmatively provided for in a user agreement or otherwise.
The Northern District of Illinois recently denied a broker’s motion for a temporary restraining order and a preliminary injunction against the Financial Industry Regulatory Authority (FINRA) seeking to stop a scheduled remote arbitration hearing.
The Federal Deposit Insurance Corporation (FDIC) recently issued its Final Rule clarifying the “Permissible Interest on Transferred Loans.”