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Banks & Banking-Tort/Negligence – Unwise Loans – Business Judgment Rule – Hindsight (access required)

Federal Deposit Insurance Corp. v. Willetts (Lawyers Weekly No. 14-02-0912, 13 pp.) (Terrence Boyle, J.) 7:11-cv-000165; E.D.N.C. Holding: In this case there is no evidence that the defendant-bank officers and directors engaged in self-dealing or other unconscionable conduct; furthermore, plaintiff ...

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Banks & Banking – Promissory Notes – Guarantors – ECOA – Statute of Limitations – Tort/Negligence – Fraud (access required)

PNC Bank, N.A. v. Welsh Realty, LLC (Lawyers Weekly No. 14-02-0878, 6 pp.) (Terrence Boyle, J.) 5:13-cv-00203; E.D.N.C. Holding: Where the loans at issue were made in 2006 and 2008, the defendant-guarantors’ counterclaims under the Equal Credit Opportunity Act are ...

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Banks & Banking – Promissory Note – Personal Guaranty – Deed of Trust – Settlement Agreement – Equal Credit Opportunity Act – Nondisclosure – Duress – Consideration (access required)

Rabun Cnty. Bank v. Highlands Land Holding Grp., LLC (Lawyers Weekly No. 14-16-0267, 11 pp.) (Ann Marie Calabria, J.) Appealed from Jackson County Superior Court (J. Thomas Davis, J.) N.C. App. Unpub. Holding: An individual defendant’s execution of a guaranty ...

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Banks & Banking – FDCPA – Real Property – Mortgages – Foreclosure Proceedings (access required)

Kasaua v. Bank of America, N.A. As a mortgage servicer, defendant is not a debt collector and is exempt from liability under the Fair Debt Collection Practices Act. In addition, plaintiffs’ allegations concerning “trial plan payments” for a supposed mortgage modification relate to conduct occurring in November 2009

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Banks & Banking – Fraudulent Transfer Claim – Gift Recipient – Indemnity – ECOA Defense – Unjust Enrichment (access required)

Wells Fargo, N.A. v. Triplett The plaintiff-bank alleges that, while Peggy Triplett and her husband owed the bank between two and four million dollars, Mrs. Triplett fraudulently transferred $8 million to the Peggy Ann Triplett Foundation. With respect to the bank’s fraudulent transfer claim, the Foundation is not entitled to indemnity or contribution from Mrs. Triplett’s estate or her trust.

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Banks & Banking – Contract – Promissory Note – ECOA – Wife’s Guaranty – First Impression – Affirmative Defense (access required)

RL Regi North Carolina, LLC v. Lighthouse Cove, LLC When a bank violates the federal Equal Credit Opportunity Act by requiring a spouse to guaranty a secured loan, the spouse can raise the ECOA violation as an affirmative defense if the bank sues to enforce the guaranty. We affirm judgment for the defendant-wife.

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