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Court of Appeals (Mass.) Holds Bank Owed No Duty to Depositor under California Law to Detect Fraud in Connection with Depositor’s Check

by Scott J. Hyman |

In Sarrouf Law LLP v. First Republic Bank, 97 Mass. App. Ct. 467, 471-79 (2020), the Massachusetts Court of Appeals held that a law firm's negligence action against its bank arising out of the dishonor of funds the firm deposited in the bank due to the fraud of a client was properly dismissed because the bank had no duty to detect… Read More

District Court (Cal.) Bars Negligent Credit Reporting Claim Under Economic Loss Rule

by Scott J. Hyman |

In Hariton v. Chase Auto Finance Corp., 2d, 2010 WL 3075609 (C.D.Cal. 2010), Judge Matz granted summary judgment for an automobile finance company who was sued under FCRA and for negligence in their reporting of their customer’s account.    Whether damages are or are not an element of a FCRA claim depends on whether the noncompliance was willful or negligent.… Read More

Cal. Court of Appeal Finds Finance Company Owed No Duty To Determine Borrower’s Ability to Repay

by Scott J. Hyman |

In Perlas v. GMAC Mort., L.C.C. – Cal.Rptr.3d –, 2010 WL 3155946 (2010), the California Court of Appeal held that a finance company owed no duty to the borrower to determne the borrower’s ability to repay. Though Perlas involved a home mortgage loan, the same principle may apply to auto finance as well. The Court of Appeal explained:   Neither… Read More