TITLE

"Notice and Cure" Cannot Prevent Suit For T-in-L Damages

PUB. DATE
August 2013
SOURCE
Consumer Credit & Truth-in-Lending Compliance Report;Aug2013, Vol. 44 Issue 8, p5
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses a court case wherein a judge ruled that a "notice and cure" clause made by Wells Fargo Bank, N.A. cannot excuse the creditor's failure to comply with the Truth-in-Lending Act and cannot prevent a credit card holder from suing the bank even if the latter did not comply with the notice and cure clause before bringing suit. It says that the notice and cure provision amounts to a waiver of the Act's initial account-opening disclosure requirement.
ACCESSION #
91750481

 

Related Articles

  • SECURED CREDITOR HAD STANDING TO ENFORCE BANKRUPT DEBTOR'S RIGHTS ON RECEIVABLES.  // Clarks' Secured Transactions Monthly;Nov2011, Vol. 27 Issue 11, p4 

    The article discusses an Illinois court case, Agri-Best Holdings LLC v. the Atlanta Cattle Exchange Inc. (TACE), which deals with the enforcement of the bankrupt debtor's rights on receivables. Agri-Best Holdings LLC registered for a Chapter 11 bankruptcy and sued TACE on the receivables,...

  • Ninth Circuit: Acquiring Debt in Default and Attempting to Collect Doesn't Make One a "Debt Collector".  // Consumer Credit & Truth-in-Lending Compliance Report;Sep2013, Vol. 44 Issue 9, p5 

    The article discusses the court case Schlegel v. Wells Fargo Bank, Inc. wherein the judge dismissed the consumer's lawsuit against the bank alleging breaches of the Fair Debt Collection Practices Act (FDCPA). The decision was based on the definition of "creditor" and "debt collector" wherein the...

  • Code Liens Are Not "Superpriority" Liens: Is it the End of the Debate? Barboza, Annabella // Florida Bar Journal;Sep/Oct2013, Vol. 87 Issue 8, p28 

    The article discusses the validity of code enforcement liens and municipal ordinance provisions in Florida as of September 2013, focusing on the Florida Supreme Court's ruling in the case City of Palm Bay v. Wells Fargo Bank NA. The priority of code liens are addressed in relation to creditors...

  • WELLS FARGO ACCUSED OF FRAUD IN LAWSUIT. Smith, Hubble // Las Vegas Business Press (10712186);11/8/2010, Vol. 27 Issue 45, pP12 

    The article reports on a lawsuit filed by Alkimya Investment against Wells Fargo Bank at the Clark County District Court in Nevada on July 14, 2010, which claims that the bank backed out of a deal to finance a hotel and casino in Las Vegas after acquiring Wachovia Bank.

  • Court Limits Counsel Fees Where and that they were in some meaningful sense culpable Suit Was Essentially Uncontested.  // Lender Liability Law Report;Jul2012, Vol. 26 Issue 7, p7 

    The article discusses a court case wherein a U.S. court had ordered Wells Fargo Bank to limit its legal fees to 10,000 U.S. dollars. In Wells Fargo Bank, N.A. v. Humphrey Lumber Corp., the appellant filed a complaint against the latter after it defaulted on a note and guaranty for loan from the...

  • Wells Fargo Faces Suit Concerning Loan-Mod Denials. Wack, Kevin // American Banker;12/12/2012, Vol. 177 Issue 189, p10 

    The article discusses a federal lawsuit filed in California against Wells Fargo bank for allegedly denying loan modifications to eligible homeowners in violation of the national mortgage settlement and notes the class-action lawsuit that involves World Savings Bank's Pick-a-Payment mortgages.

  • AT-WILL, BE KUHL. PANNABECKER, JAMES H. // Bankers Letter of the Law;Aug2013, Vol. 47 Issue 8, p1 

    The article discusses a court case between former First State Bank of Pinedale president Bill Kuhl and Wells Fargo Bank. The case referred to a dispute over his employment status at Wells Fargo since the bank purchased First State Bank on July 1, 2008, where the deal revealed that his employment...

  • A Nice Problem to Have. WILSON, THADDEUS D.; MALONEY, MARK M. // ABI Journal;Feb2016, Vol. 35 Issue 2, p20 

    The article offers the author's insights on the difficulties in recovering the attorneys' fees by a bankruptcy attorney under the § 506(b) of the U.S. Bankruptcy Code. Topics discussed include the provision from § 506(b) which allows the recovery of attorneys' fees to oversecured...

  • LENDER LIABILITY -- BANKS WIN TWO.  // Bankers Letter of the Law;Sep2011, Vol. 45 Issue 9, p3 

    The article discusses two court cases dealing with lending liability in which the courts sided with the banks. In Interpharm Inc. v. Wells Fargo Bank, the district court and the U.S. Court of Appeals for the Second Circuit dismissed the claims of the firm accusing the bank of wrongful conduct....

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics