S&S Successfully Defends Lender-Liability Claims Before the Fourth District Appellate Court
September 1st, 2011
S&S recently obtained a favorable opinion in the Fourth District Court of Appeals for a regional financial institution client. In the underlying litigation, the plaintiff sued a car dealership for violation of consumer law and fraud concerning the purchase of a car. That plaintiff also sued The Lorain National Bank, the financier for the plaintiff’s purchase, under the FTC’s Holder-in-Due-Course rule, which is a rule that imputes partial liability to financial institutions for the wrongful acts of vendors, such as car dealers.
S&S successfully obtained judgment against the plaintiff on her claims against the bank with the trial court. Dissatisfied, the plaintiff filed an appeal but the Fourth Districted sided with S&S’s arguments and ultimately upheld the bank’s successful judgment against lender liability.
S&S’s northwest Ohio office is located at 106 East Market Street, Tiffin, Ohio and its central Ohio office is located at 4249 Easton Way, Columbus, Ohio.
S&S’s legal work includes representation of community banks and credit unions in areas including litigation, liability defense, collection actions, and foreclosure actions; creditor representation in federal bankruptcy proceedings; creditor representation in loan workout transactions; and regulatory and compliance representation.
For additional information, stop by one of our offices or visit the law firm online at www.stultzstephan.com.
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