Homeowners Get More Time In PNC Lender Kickback Suit

Law360, Philadelphia (January 10, 2017, 9:40 PM EST) -- A Pennsylvania federal judge on Tuesday allowed homeowners accusing a PNC Bank predecessor of accepting kickbacks for referring mortgage customers to insurers to modify their class action complaint to skirt a one-year statute of limitations under the Real Estate Settlement Procedures Act.

U.S. District Judge Lawrence Stengel said he was persuaded by arguments suggesting the “continuing violations” doctrine applied to RESPA, and that the statute of limitations was not triggered at the date of closing on a home purchase.

“Defendants violated RESPA — assuming the veracity, at this stage,...
To view the full article, register now.

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.