NY AG's Collusion Suit Against First American Survives

Law360, New York (June 8, 2010, 4:50 PM EDT) -- A New York appeals court has cleared the way for New York Attorney General Andrew Cuomo to proceed with a suit alleging First American Corp. colluded with Washington Mutual Inc. to inflate the appraisal value of homes.

On Tuesday, the appellate division of the New York Supreme Court rejected First American’s contentions that regulations by the U.S. Office of Thrift Supervision and federal law preempt the attorney general’s claims, holding that the trial court properly permitted Cuomo’s incursion into the home lending field.

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