Here, debtors failed to keep adequate records of their finances, and consequently the court denied their discharge. The debtors’ Statement of Financial Affairs indicated that they were principals in nine corporations. Some of the corporations were inactive, however, debtor, Mr. Vetri testified that he was unable to locate any of the business records of the […]

In Cincinnati Central Credit Union vs. Yuvonne Goss et al., this Ohio court noted that this case presents a common occurrence in the world of banking and one which the courts can resolve equitably. Here, one Terrence Fitzgerald made payable his check for $4,000 to New Look Auto Trim and Upholstery and delivered it to […]

Debtor submitted a materially false loan application causing financial loss to the creditor, but the Court found no “reasonable reliance” by the creditor on the loan application and discharged the debt in bankruptcy. Here, the court held that creditor ITT Financial Services (ITT) had not reasonably relied on the debtor’s false loan application and the court discharged the […]

Here, the court addressed the issue as to whether a job applicant was discriminated against due to the applicant’s obesity. In this case, the job applicant applied for a position with the employer and was rejected due to her obese weight.   The medical profession considers a person morbidly obese if the individual weighs either more […]

In the case of David Scoggin vs. Listerhill Employees Credit Union, the Alabama Supreme Court upheld a lower court ruling in favor of the credit union. Here, the credit union repossessed a member’s Dodge Dynasty and sold the vehicle at auction for the highest bid of $5,000. The vehicle’s odometer displayed mileage of 18,334 miles, […]

In this case, the Colorado Court of Appeals held that the credit union’s lien on a borrower’s mobile home was superior to a mortgage held on the real estate upon which the mobile home was permanently built. Here, ENT Federal Credit Union (hereinafter “ENT”) granted a loan to Alice Ripley secured by her mobile home. The […]

This case held that a credit union’s “freeze” on a bankrupt members’ account violates the bankruptcy court’s automatic stay if the member’s loan secured by the deposit is not in default. In this case, the debtors previously borrowed funds from the credit union and granted to the credit union a security interest in their deposits […]

Court dismissed a suit brought in this action against a credit union for discharging its President and CEO. In this case, Nevada Federal Credit Union held a regularly scheduled meeting and voted 5-2 not to renew the employment contract of Robert Street, its then President and CEO. After obtaining legal advice, a second meeting was […]

Credit Union Board Member and Manager Pledged Embezzled Funds as collateral for Credit Union loan.    Rebecca Caldwell was the manager, secretary and treasurer of Avondale Mills Bevelle Employees Federal Credit Union. She also served on the credit union’s Board of Directors. Caldwell took a blank Certificate of Deposit from the credit union and directed […]

A Supreme Court of Rhode Island opinion held a credit union liable to its member for the credit union’s negligent misrepresentation to the member regarding life insurance on the member’s loan.   …[H]ere, the Court held that the credit union’s loan officer had misled the debtor upon inception of the loan by representing that there was life […]