FindLaw News

Case Summaries

Banking Law

[03/09] Martinez v. Wells Fargo Home Mortgage, Inc.
In an action under Section 8(b) of the Real Estate Settlement Procedures Act (RESPA), and California's Unfair Competition Law (UCL), claiming that a mortgage lender charged plaintiffs an illegal underwriting fee, dismissal of the complaint is affirmed where: 1) the clear and unambiguous language of RESPA Section 8(b) did not reach the practice of "overcharging"; and 2) the UCL claims alleging "unfair" and "fraudulent" conduct were preempted by the National Bank Act, and the allegations of "illegal" conduct failed to state a claim.

[03/02] Ma v. Merrill Lynch, Pierce, Fenner & Smith, Inc.
In an action against Merrill Lynch based on unauthorized transfers from plaintiff's investment account, summary judgment for defendant is affirmed where New York U.C.C. Section 4-A-505, which imposes a one-year statute of repose on certain claims based on electronic funds transfers, bars plaintiffs' common law claims, which had longer limitations periods.

[02/26] Williams v. Fleming
In plaintiff's suit against a bank, the US, and and an FDIC associate examiner, claiming that the associate examiner's racially motivated bias against plaintiff and other African-Americans was the reason he stopped receiving loans from the bank, dismissal of all claims including the Bivens suit against the associate examiner is affirmed where, because the dismissal of plaintiff's suit against the US was on the merits, and not for lack of subject matter jurisdiction, his remaining Bivens suit was properly barred by section 2676 of the FTCA.

Read More