Judge Grants Bank 'Pre-Approved' Judgment

Law360, New York (August 15, 2007, 12:00 AM EDT) -- A Rhode Island-based bank did not violate federal law in sending out over two million letters telling recipients they had been pre-approved for a home loan because of their "excellent credit," a district court judge ruled Monday.

Judge G. Joseph Tauro of the U.S. District Court for the District of Massachusetts granted Greenwood Credit Union's motion for summary judgment and denied that of the plaintiffs, a putative class of consumers who received Greenwood's solicitation. He also denied the plaintiffs' motion for class certification, saying it was...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.