Justia Banking Opinion SummariesArticles Posted in US Court of Appeals for the District of Columbia Circuit
United States ex rel. Schneider v. JPMorgan Chase Bank, N.A.
Relator filed a quit tam action under the False Claims Act against Chase, alleging that Chase falsely claimed compliance with a Settlement. Relator also alleged that Chase falsely claimed compliance with the Home Affordable Modification Program (HAMP). The DC Circuit disagreed with the district court's conclusion that plaintiff was required to exhaust his contentions pursuant to the procedures of the Settlement. However, the court affirmed the dismissal of the claims regarding the Settlement on a related basis. In this case, the Monitor was aware of the practices and concluded that Chase was in compliance. To the extent that relator vaguely alleged that Chase sought credit for loans that otherwise did not qualify for relief under the Settlement, the complaint nowhere identified any ineligible loan Chase submitted for credit, alleged that the Monitor was unaware of any such loan's disqualifying characteristics, or claimed that the cumulative value of any such loans exceeded the $250 million buffer. Finally, the court agreed with the district court that relator failed to state a claim that Chase falsely certified HAMP compliance because he did not allege, with factual allegations in support, that the certifications were materially false. View "United States ex rel. Schneider v. JPMorgan Chase Bank, N.A." on Justia Law
Bank of New York Mellon v. Henderson
The D.C. Circuit held that the district court properly entered summary judgment for judicial foreclosure to the property at issue, because D.C. law allows the holder of a note to enforce the deed of trust by judicial foreclosure. In this case, there was no genuine dispute of material fact that the Bank holds the Note. The court rejected defendant's counterclaim for declaratory and injunctive relief, as well as defendant's counterclaim under the Fair Debt Collection Practices Act (FDCPA). Furthermore, the Bank has carried its burden of showing there was no genuine dispute of material fact with respect to the quiet title counterclaim; defendant forfeited his claim under the Fair Credit Reporting Act (FCRA); and, in regard to the civil conspiracy claim, defendant failed to meet the heightened pleading requirements for fraud. View "Bank of New York Mellon v. Henderson" on Justia Law