SunTrust Can Arbitrate Home Equity Action: 11th Circ.

Law360, New York (September 7, 2011, 4:56 PM EDT) -- The Eleventh Circuit ruled Wednesday that SunTrust Bank can compel arbitration in a putative class action over suspensions of home equity lines of credit, after the plaintiff's amended complaint significantly expanded the proposed class.

Named plaintiff Sara E. Krinsk claims that SunTrust suspended HELOCs across Florida on contrived justifications as part of a scheme to restore its capital reserves, which had become depleted in fall of 2008.

Krinsk's original May 2009 complaint specified a class of Florida homeowners who were 65 years old or more when...
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