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Apr 9, 2021

No private right of action under Fair Credit Act claim

Where the plaintiffs alleged a bank violated § 1681s-2(a) of the Fair Credit Reporting Act by supplying information known to be incorrect to a credit reporting agency, the claim was dismissed because there is no private right of action under that section of the law. Background Melvin and Linda McCauley filed this action against Ally […]

Mar 1, 2021

National Elks group gets disputed funds

Where a dispute arose between the Elks Grand Lodge and a local lodge over $666,090 deposited with a bank, the funds were awarded to the national group after the local lodge failed to file an answer or respond to the action. Background This is an interpleader action filed by Skyline National Bank seeking to resolve […]

Mar 1, 2021

Face-to-face meeting wasn’t required prior to foreclosure

A homeowner who claimed the bank was required to hold a face-to-face meeting before foreclosing on her home had her suit dismissed. The meeting requirement applies only if the bank has a branch within 200 miles of the property, and the homeowner conceded there was no bank branch within 200 miles at the time of […]

Oct 12, 2020

Valid appointment of substitute trustee dooms foreclosure challenge

Where a borrower claims she did not retain counsel because she relied on a bank representative that foreclosure of her home was “on hold,” and that a lawyer would have  challenged the validity of the appointment of the substitute trustee who proceeded with the foreclosure,  a court previously found the trustee’s appointment was valid and […]

Sep 28, 2020

Homeowner’s lack of diligence dooms suit over foreclosure

Where a homeowner argued her failure to timely file her claim that the bank wrongfully foreclosed on her home should be excused because she did not discover the allegedly fraudulent statements at the time they were made, and where the record showed she failed to exercise due diligence, her claim was barred by the statute […]

Sep 28, 2020

Claims narrowed in foreclosure suit

A homeowner alleging various claims against financial institutions arising out of the foreclosure of her home failed to have the case remanded to commonwealth court. Instead, one defendant was dismissed, and the claims against the other defendant were dismissed with leave to replead two of the counts. Background This matter comes before the court on […]

Sep 28, 2020

Customers’ overdraft fees claim goes forward

Customers alleging that their bank’s imposition of overdraft fees violated the deposit agreement asserted facts suggesting the deposit agreement was ambiguous and that the bank exercised its contractual discretion in bad faith. The breach of contract claim survived the motion to dismiss. Background Marty Hinton and Gennifer Townsley have checking accounts with Atlantic Union Bank. […]

Sep 21, 2020

Bank loses bid for remand of detainer action

Where the homeowner timely removed a lawsuit seeking to take possession of real property she formerly owned, there was complete diversity between the parties and the property was valued at more than $75,000, the bank’s motion to remand was denied. Background This is a dispute over a house in Basye. Plaintiff, U.S. Bank Trust National […]

Sep 11, 2020

Mortgagee lacks standing to challenge assignment

Although the Virginia Supreme Court has never “squarely” addressed whether a borrower lacks standing to challenge the securitization and assignment of his home mortgage, the court’s numerous decisions support that conclusion. Background In 2003, Timothy P. Flinn, a Virginia resident, entered into a mortgage that was evidenced by a note and secured by a deed […]

Aug 10, 2020

Homeowner has no right to loan modification

Although the homeowner appeared to allege he should have been granted a loan modification because he satisfied all of the criteria, he failed to identify any contract language or statement that would impose such an obligation. Background Ern Reynolds filed his complaint in this court on Nov. 29, 2019, asserting claims of breach of contract, […]

Jul 20, 2020

‘Speculative’ allegations result in dismissal of fraud claim

A borrower who failed to allege full compliance with Wells Fargo’s alleged representations about refinancing could not assert a claim for fraud because her failures rendered the falsity of Wells Fargo’s representations speculative. Background Denise M. Barnette originally brought this action in the Circuit Court against Wells Fargo Bank N.A. and two related defendants, seeking […]

Jul 20, 2020

Bank sued for ERISA violations

The lawsuit adequately alleged the defendants obtained a valuation by fraudulently omitting information provided to an investment bank and failed to disclose loans. The complaint also sufficiently pleaded facts that plausibly showed Virginia Community Bank, or VCB, and an individual were fiduciaries under the Employee Retirement Income Security Act. Background Janice A. Moore filed a […]

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