Credit Suisse Unit Can't Beat FDCPA Suit

Law360, New York (April 4, 2017, 8:45 PM EDT) -- A Florida federal judge said Tuesday that Credit Suisse AG's mortgage unit must face proposed claims that it misled homeowners over fees for reinstating mortgages in foreclosure, saying homeowners had provided adequate allegations of Fair Debt Collection Practices Act violations.

U.S. District Judge Robert N. Scola Jr. said that a proposed class of homeowners led by lead plaintiff Kimberly Barardi had adequately supported claims that Credit Suisse unit Select Portfolio Servicing Inc. violated the FDCPA by misleading homeowners who had defaulted on their mortgages over the nature and amount of fees required to reinstate the mortgages.

"The plaintiff's allegation that she...

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