December 2009 saw an increase in lawsuits against financial institutions in the San Francisco Bay Area. 119 lawsuits were filed in Bay Area courts against financial institutions in December 2009, up from 79 in November 2009.
Of the 119 December lawsuits, the majority (38) accused financial institutions of wrongful foreclosure. The next most common type of filing (29) was for violations of the Truth in Lending Act (TILA) or other forms of predatory lending. December saw an increase in the variety of other lawsuits as well. Among other claims against financial institutions in December were fraud, unfair business practices, elder abuse, and even patent infringement. In addition, financial institutions were sued on a variety of employment claims including gender and sexual discrimination and harassment, wrongful termination, and failure to pay overtime wages.
Cooper’s attorneys offer expertise in handling the issues being raised in the nation’s current housing, finance, banking, and real estate industry turmoil. Staffed by attorneys who are fully experienced in transactional and regulatory counseling, jury trials and complex litigation, bankruptcy, banking, and publicly traded securities, our firm stands ready to assist a wide variety of clients during these difficult times. For further information, please contact Jill Rowe, and to be included on our mailing list for upcoming Practice Alerts, sign up here.