Case Summaries

Banking Law

[02/01] Echevarria, McCalla, Raymer, Barrett & Frappier v. Cole
The litigation privilege applies in all causes of action, statutory as well as common law.

[02/01] Long Island Savings Bank, FSB v. US
In a Winstar-related case, summary judgment for banks on the government's counterclaim and affirmative defenses and an award for the banks in the amount of nearly $435 million, are reversed where the contract claims against the government under an Assistance Agreement were forfeited under 28 U.S.C. section 2514, due to fraud against the government.

[01/31] Martinez v. Giacobbe
Judgment for attorney's fees in foreclosure proceedings is affirmed where the court retained jurisdiction after the foreclosure judgment to award post-judgment fees, but reversed where the trial court did not have jurisdiction to award fees for work performed in the bankruptcy court.

[01/31] Berry v. American Express Publ'g, Inc.
Sustaining without leave to amend demurrers to complaint for injunctive relief based on the California Consumer Legal Remedies Act, regarding arbitration provision in agreements, is affirmed as the extension of credit, such as issuing a credit card, separate and apart from the sale or lease of any specific goods or services, does not fall within the scope of the act.

[01/29] Weiss v. Washington Mut. Bank
A lawsuit challenging a federal savings and loan association's prepayment penalty formula is preempted by the federal Home Owners' Loan Act and the regulations promulgated by the federal Office of Thrift Supervision.

[01/29] McKenna v. First Horizon Home Loan Corp.
Class certification in a class-action under the Truth In Lending Act is reversed where the district court lacked the authority to certify a class of residential borrowers who might potentially be eligible for rescissionary relief under the TILA and the Massachusetts Consumer Credit Cost Disclosure Act.

[01/29] Bianchi v. US
In a case arising from contracts to produce military clothing and defaulted loans to finance plaintiff's performance of the contracts, dismissal of plaintiff's suit for lack of subject matter jurisdiction is reversed in part where the court had jurisdiction over a claim of breach of a settlement agreement with the government, but the claim is remanded with directions to enter judgment in favor of the government on the merits.

[01/26] Laliberte v. Pacific Mercantile Bank
In a case alleging that defendant's failure to disclose closing fees in refinance loans violated the Truth in Lending Act, orders sustaining demurrers to class allegations are reversed as the trial court erred in denying plaintiffs leave to amend the class definition in their third amended complaint.

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