Because the plaintiff stated a claim against the only defendant to share her citizenship – the substitute trustee that executed foreclosure on her home – the court lacked diversity jurisdiction, and remand to state court was required. Background Plaintiff Norma ...

Tagged with: Banking Civil Procedure Judge Henry E. Hudson Mortgage Real Estate Real Property Tort U.S. District Court - Eastern District

In the defendant’s trial for trying to cash a fraudulent check, the trial did not err in admitting evidence that allowed the jury to discover that the defendant’s attempt to cash the check occurred in a short period where he ...

Tagged with: Banking Criminal Evidence Justice Teresa M. Chafin Virginia Court of Appeals

The district court did not err in any respect in convicting and sentencing a defendant alleged to be the ringleader of a conspiracy to convert funds from Capital One accountholders. Background Between January and April 2012, Appellant Junaidu Savage and ...

Tagged with: 4th U.S. Circuit Court of Appeals Banking Criminal Criminal Procedure Judge Henry F. Floyd Jury Sentencing

A bank’s liability for depositing wired funds procured by fraud is generally governed by Article 4A of the Uniform Commercial Code, the court held, although the bank’s representations to the defrauded party may create a cause of action for negligence. ...

Tagged with: Banking Fairfax County Circuit Court Judge David Bernhard Virginia Circuit Courts

WASHINGTON — Expressing an unwillingness to dramatically expand the scope of offenses that fall under the federal bank fraud statute, the justices of the U.S. Supreme Court searched for some type of limiting principle Tuesday during arguments in Loughrin v. ...

Tagged with: Banking U.S. Supreme Court

An Abingdon U.S. District Court says a bank may sue a loan guarantor for tortious interference with contract and statutory conspiracy under Virginia law, based on a claim that the guarantor intentionally caused the borrower – a Bristol shopping center ...

Tagged with: Banking Judge James P. Jones U.S. District Court - Eastern District

Defendant bank wins summary judgment in this suit by siblings who obtained five CDs from their father’s estate and who allege they are owed payment on the CDs worth over $5 million that matured and were paid on behalf of ...

Tagged with: Banking Judge Anthony J. Trenga U.S. District Court - Eastern District

An  American Legion Post cannot sue defendant bank for negligence and breach of fiduciary duty on allegations that the bank improperly disbursed the post’s deposited funds to two persons who then embezzled the money; the Abingdon U.S. District Court dismisses ...

Tagged with: Banking Judge James P. Jones U.S. District Court - Western District

Shareholders are suing a bank’s directors for not paying sufficient attention to the bank’s annual report. The shareholders’ derivative action alleges the annual report threw up “red flags” that should have allowed the defendants to ward off regulatory action that ...

Tagged with: Banking Corporate Federal Courts Judge T.S. Ellis III

A bank’s ex-CEO who seeks severance pay lives to fight another day after a Norfolk federal judge rejected the bank’s preemptive strike. When Scott C. Harvard demanded the severance payment, Shore Bank, his former employer, filed suit in federal court ...

Tagged with: Banking Federal Courts Judge Mark Davis