Citibank Asks Judge To Toss Reinsurance Fraud Class Action

Law360, New York (May 17, 2013, 3:15 PM EDT) -- Citibank NA on Thursday urged a Pennsylvania federal judge to toss a putative class action alleging it schemed with private mortgage insurers to push fraudulent reinsurance on home mortgages, saying homeowners waited too long to sue under the Real Estate Settlement Procedures Act.

Citibank argued that the plaintiffs could not toll RESPA's one-year statute of limitations because they did not act with due diligence to discover the alleged “captive reinsurance scheme” within the limitations period. The suit was filed in January, more than one year after...
To view the full article, register now.




Case Information

Case Title

MENICHINO et al v. CITIBANK, N.A. et al

Case Number



Pennsylvania Western

Nature of Suit

Real Property: Other


Mark R. Hornak

Date Filed

January 13, 2012

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.