Lawsuits by and against financial institutions in the San Francisco Bay Area remained active in October 2009. 112 lawsuits were filed against financial institutions in October in Bay Area courts. (Federal courts for Oakland, San Jose and San Francisco, and state courts for Alameda, Contra Costa, Marin, Napa, San Francisco and Sonoma Counties.) This is slightly up from 102 filings in September.
Of the 112 lawsuits, the majority (61) accused financial institutions of wrongful foreclosure. The next most common type of filing (45) was for violations of the Truth in Lending Act (TILA) or other forms of predatory lending. Other lawsuits against financial institutions in October included claims for violations of the Real Estate Settlement Procedures Act (RESPA), and claims for inadequate disclosures of property sold at auction.
Cooper’s Credit Crisis Group offers 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, the Group stands ready to assist a wide variety of clients during these difficult times. Immediately responsive and pursuing aggressive action plans, we have consistently produced highly successful results. For further information, please contact Jill Rowe, and to be included on our mailing list for upcoming Practice Alerts, sign up here.