Bryan v. Community Resource Mortgage, Inc. There is no question that the plaintiff-debtor paid his debt and that the defendant-bank failed to mark his mortgage satisfied within three months (it waited nine years). Where plaintiff has identified a specific bank employee, who he contends specifically represented that the July 31, 2002 mortgage would be satisfied by a subsequent loan the bank made on Aug. 2, 2002, and where this contention, including the existence of the employee, is supported by the loan closing documents, there is a genuine issue of material fact as to whether plaintiff has made out a claim under S.C. Code Ann. § 29-3-320.
Epps v. JP Morgan Chase Bank NA Federal regulations under the National Banking Act do not preempt a Maryland statute that governs repossession of personal property; Maryland has the right to regulate the notices lenders sent to borrowers before they repossess goods bought on a retail installment contract, and the 4th Circuit vacates dismissal of plaintiff car buyer’s putative class action.
Hook Point, LLC v. Branch Banking & Trust Co. Where the plaintiff-borrower had defaulted in several ways on its promissory note to the defendant-bank, the bank was entitled to draw on the borrower’s “last resort” letter of credit.
We reverse the trial court’s grant of a preliminary injunction, which barred the bank from drawing on the letter of credit.
Bank Meridian, N.A. v. Ultra Holdings, LLC Where oral statements made by the plaintiff-bank’s employees form the basis for defendants’ defenses, those defenses cannot be asserted against the now-insolvent bank’s successor.
Skywaves I Corp. v. Branch Banking & Trust Co. Plaintiff makes general allegations that the defendant-bank’s actions were characterized by dishonesty and unfair dealing with respect to plaintiff’s plan to transition from defendant to another lender and defendant’s decision to cease funding plaintiff, but plaintiff fails to plead any specific fraudulent act by defendant. Plaintiff has not pled fraud with the particularity required by Rule 9(b), SCRCP; accordingly, plaintiff has failed to state a claim for breach of contract accompanied by a fraudulent act.
Kerr v. Branch Banking & Trust Co. Where plaintiffs’ claims are based on the defendant-bank’s alleged oral promises to fund a company in which plaintiffs were investors, plaintiffs’ claims are barred by S.C. Code Ann. § 37-10-107.
Defendants’ motion to dismiss is granted.
Cody P. v. Bank of America, N.A. Where the defendant-bank ignored its own safeguards in setting up and handling a conservatorship account for the minor special-needs plaintiff, thereby allowing his conservator to convert plaintiff’s funds to her own use, the bank’s conduct was reprehensible, and the jury’s punitive damages award is reasonable and proportionate to the harm plaintiff suffered. Finally, the bank has the ability to pay the award.
Real Property - Mortgages - Equity Line - Unauthorized Practice of Law
Loan Fraud - Mortgage Securitization
Preemption - Bank Subsidiaries
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