North Carolina Lawyers Weekly
When a customer makes a debit-card purchase, the merchant first presents the transaction to the defendant-credit union for authorization and then later, sometimes days later, presents the transaction to the credit union for payment. The credit union’s challenged practice, which ...
Read More »Banks & Banking – Contract – Overdraft Fees – ‘Presentation’ – Unfair Trade Practices Claim
Banking – ‘Branch’ must handle mortgage business to trigger meeting rule 
Where there is a “branch office” within 200 miles of the borrower’s home, federal regulations require a bank to conduct a face-to-face meeting before initiating foreclosure proceedings. However, that obligation is only triggered where the “branch office” conducts some business ...
Read More »Banks & Banking – Suspicious Transactions – Elderly Customer – UCC – Tort/Negligence
Even if an elderly customer shows signs of mental incompetence, a bank cannot disobey her instructions unless it has knowledge of an adjudication of incompetence. We affirm the trial court’s grant of the defendant-bank’s motion to dismiss. As the guardian ...
Tagged with: UCC
Read More »Banks & Banking – Real Property – Development Loan – FDIC Receivership – Repudiation – Affirmative Defense – Recoupment – First Impression
Settlers Edge Holding Co. v. RES-NC Settlers Edge, LLC (Lawyers Weekly No. 011-397-16, 28 pp.) (Donna Stroud, J.) Appealed from Yancey County Superior Court (Mark Powell & Marvin Pope, JJ.) N.C. App. Holding: After the plaintiff-developers’ original lender went into ...
Tagged with: Real Property
Read More »Banks and Banking – Assignment of Note – Status of “Holder”
U.S. National Bank Association v. Pinkney (Lawyers Weekly No. 012-117-16, 12 pp.) (J. Douglas McCullough, J.) Appealed from Forsyth County Superior Court (Patrice A. Hinnant, J.) N.C. App. Unpub. Holding: Plaintiff creditor brought this action against defendant debtors seeking sale ...
Tagged with: 'credit' creditor
Read More »Banks & Banking – Overdraft Fees – Debit Ordering – High to Low – Contract
Gay v. Peoples Bank (Lawyers Weekly No. 012-106-16, 21 pp.) (Lucy Inman, J.) Appealed from Lincoln County Superior Court (Louis Bledsoe III & Calvin Murphy, JJ.) N.C. App. Unpub. Holding: Where the defendant-bank’s account agreement documents said the bank would ...
Tagged with: Contract debit Overdraft
Read More »Banks & Banking – ECOA – Loan Denial – Reason Given
Trapp v. SunTrust Bank (Lawyers Weekly No. 003-009-16, 9 pp.) (Catherine Eagles, J.) 1:15-cv-00937; M.D.N.C. Holding: Plaintiff alleges defendant-bank told her over the phone that the loan she and her husband had applied for was denied because of a fraud ...
Tagged with: ECOA
Read More »Banks & Banking – Contract Novation – Promissory Notes – Note Holder – Civil Practice – Law of the Case – Rule 12 Motion – Referenced Documents
Bank of America, N.A. v. Rice (Lawyers Weekly No. 15-07-1125, 25 pp.) (Mark Davis, J.) Appealed from Mecklenburg County Superior Court (Richard Boner & W. Robert Bell, JJ.) N.C. App. Holding: In a pre-discovery appeal concerning defendant’s demand for arbitration, ...
Tagged with: Bank of America
Read More »Banks & Banking – ECOA Rights – Wife’s Waiver – Loan Modification – Ussery – Reconsideration
RREF BB Acquisitions, LLC v. MAS Properties, LLC (Lawyers Weekly No. 15-15-1115, 9 pp.) (Gregory McGuire, J.) 2015 NCBC 105 Holding: Although 12 C.F.R. § 202.2(q) defines an “extension of credit” under the Equal Credit Opportunity Act (ECOA) to include ...
Read More »Banks & Banking – Bank Officers Face Negligence Claims
FDIC v. Rippy (Lawyers Weekly No. 001-149-15, 30 pp.) (Gregory, J.) No. 14-2078, Aug. 18, 2015; USDC at Wilmington, N.C. (Boyle, J.) 4th Cir. Holding: In this suit alleging that plaintiff Federal Deposit Insurance Corporation, as receiver, suffered $216 million ...
Tagged with: Negligence
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