A Norfolk church, Garden of Prayer, was a holder in due course of a $400,000 cashier’s check that was not honored by defendant Wells Fargo bank, but Wells Fargo is not liable to Garden of Prayer as it complied with ...

Tagged with: Banking Judge Mark Davis U.S. District Court - Eastern District

A bank that unwittingly helped fund a now-convicted mortgage loan swindler has blocked an effort to force it to give up its proceeds to help pay back victims of the fraud. An Alexandria bankruptcy judge dismissed a trustee’s $4.5-million claim ...

Tagged with: Banking Bankruptcy Federal Courts Judge Robert G. Mayer

Donald Trump wants to cut to the front of the line to buy a mansion, but a bank is trying to do what few have the temerity to do: To tell Trump “No!” This dust-up arises from the mess leftover ...

Tagged with: Banking Bankruptcy Federal Courts Judge Norman K. Moon

A federal judge in Richmond has awarded almost $40 million to SunTrust Mortgage Inc. from a subsidiary of AIG Inc. that insured second mortgages issued by the lender. In a related ruling, Senior U.S. District Judge Robert E. Payne relieved ...

Tagged with: Banking Federal Courts Judge Robert E. Payne Million-Dollar Verdicts

When is a bank not a bank? A Norfolk Circuit Court had to answer that question when the Virginia Department of Taxation sought back taxes from a private national bank with a Norfolk branch. The bank came out ahead in ...

Tagged with: Banking Judge Mary Jane Hall Norfolk Circuit Court Taxation

A Norfolk Circuit Court says that because AMG National Trust Bank is subject to the Virginia Bank Franchise Tax Act, Va. Code § 58.1-1200, it is not liable for corporate income tax, and the Virginia Department of Taxation is ordered ...

Tagged with: Banking Judge Mary Jane Hall Norfolk Circuit Court Virginia Circuit Courts

A Norfolk Circuit Court says AMG National Trust Bank is a bank for purposes of the Virginia Bank Franchise Tax Act, Va. Code § 58.1-1200, and the court rejects the tax commissioner’s request that the court apply the definition of ...

Tagged with: Banking Judge Mary Jane Hall Norfolk Circuit Court Virginia Circuit Courts

In this suit by an Indian business man and his four businesses alleging a claim against a commercial lender under Virginia’s Equal Credit Opportunity Act, a Fairfax Circuit Court says the minority-owned business certification of two of the corporate plaintiffs ...

Tagged with: Banking Fairfax County Circuit Court Judge Lorraine Nordlund Virginia Circuit Courts

In a bank’s lawsuit against a lawyer to cover the trust account overdraft that resulted after a wire transfer on a fake check deposited in a Chinese version of the “Nigerian Check Scam,” a magistrate judge for the Richmond U.S. ...

Tagged with: Banking Judge Dennis Dohnal U.S. District Court - Eastern District

It wasn’t a Nigerian prince, but a Chinese CEO who tripped up an Ashland lawyer in a newer version of a familiar scam that has the victim forwarding his own funds to cover a fake check. In the Asian version, ...

Tagged with: Banking Federal Courts Judge Dennis Dohnal