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Tag Archives: ECOA

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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Civil Practice – Statute of Limitations – Banks & Banking – Civil Rights – ECOA – Spouses’ Guarantees – Accrual Date (access required)

  Stonecrest Partners, LLC v. Bank of Hampton Roads. (Lawyers Weekly No. 10-02-0925, 6 pp.) (Louise W. Flanagan, Ch.J.) E.D.N.C. Holding: A violation of the Equal Credit Opportunity Act occurs when a loan applicant’s spouse is required to sign a ...

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