Category Archives: banks

Seventh Circuit Disallows Class Actions for TILA Violations

Posted on September 30, 2008 by Isaac Gradman

In August, I wrote about a major Seventh Circuit ruling on the way that could open the doors for borrowers to file class actions against mortgage lenders to rescind their loans. On September 24, the Seventh Circuit issued its ruling, … Continue reading →

Posted in Andrews v. Chevy Chase, appeals, banks, Chevy Chase, Complaints, lenders, litigation, predatory lending, rescission, Seventh Circuit, TILA | Leave a comment

Indiana Piles On

Posted on August 27, 2008 by Isaac Gradman

Indiana Attorney General Steve Carter has brought a lawsuit against Countrywide Financial Corp., making it the latest of a half dozen states going after the nation’s former number one mortgage lender for improper lending practices (see Reuters article here). This … Continue reading →

Posted in acquisitions, Attorneys General, banks, BofA, Complaints, Countrywide, lenders, liabilities, litigation, predatory lending, subprime | Leave a comment

SEC Requests Subprime Mortgage Docs from National City

Posted on August 11, 2008 by Isaac Gradman

From a story published in the Louisville Courier-Journal: “The Securities and Exchange Commission (SEC) has requested documents from National City Corp. relating to the sale of its former subprime mortgage unit and other matters as part of an informal probe, … Continue reading →

Posted in acquisitions, banks, probes, SEC, subprime | Leave a comment