Case Summaries

*Ackerson & Yann did not participate in these cases.

Banking Law

[09/04] Am. Bankers Ass'n v. Lockyer
After remand, in a case interpreting California's Financial Information Privacy Act (FIPA) in light of the federal Fair Credit Reporting Act (FCRA), a ruling that the FRCA entirely preempted FIPA section 4053(b)(1), which restricts the sharing of nonpublic consumer personal information between financial institutions and their affiliates, is reversed and remanded where the preempted portions of FIPA are severable, narrowing FIPA section 4053(b)(1) to exclude consumer report information as defined by the FCRA.

[08/26] Mamot Feed Lot & Trucking v. Hobson
In a class action raising federal usury and antitying claims against a bank, its holding company, and various shareholders, officers, and employees of the bank, following the criminal indictment of the bank's president for defrauding the bank of nearly one million dollars, dismissal of the claim is affirmed where: 1) as sections 85 and 86 do not apply to state-chartered banks, the district court properly dismissed those claims brought under the National Bank Act for want of jurisdiction; 2) the district court properly dismissed a claim under 12 U.S.C. section 1831d for failure to state a claim; and 3) the complaint provided absolutely no facts to support an illegal tying claim.

[08/26] JCB, Inc. v. Union Planters Bank, N.A.
In an action against defendant-bank seeking a declaratory judgment and damages for trespass and conversion for unilateral removal and sale of equipment which had been purchased by their debtor-defendant and was subject to their competing security interests, partial summary judgment and awards for plaintiff are affirmed in all respects except for a punitive damage award for trespass which must be remitted to $108,750 on due process grounds.

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