Free Banking case summaries from Justia.
If you are unable to see this message, click here to view it in a web browser. | | Banking November 6, 2020 |
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Click here to remove Verdict from subsequent Justia newsletter(s). | New on Verdict Legal Analysis and Commentary | Pope Francis’s Statement Endorsing Same-Sex Civil Unions Undermines the Moral Legitimacy and Legal Arguments in Fulton v. City of Philadelphia | DAVID S. KEMP, CHARLES E. BINKLEY | | David S. Kemp, a professor at Berkeley Law, and Charles E. Binkley, MD, the director of bioethics at Santa Clara University’s Markkula Center for Applied Ethics, consider the implications of Pope Francis’s recently revealed statement endorsing same-sex civil unions as they pertain to a case currently before the U.S. Supreme Court. Kemp and Binkley argue that the Pope’s statement undermines the moral legitimacy of the Catholic organization’s position and casts a shadow on the premise of its legal arguments. | Read More | Stigma and the Oral Argument in Fulton v. City of Philadelphia | LESLIE C. GRIFFIN | | UNLV Boyd School of Law professor Leslie C. Griffin explains why stigma is a central concept that came up during oral argument before the Supreme Court in Fulton v. City of Philadelphia. Griffin points out that some religions have long supported racial discrimination, citing their religious texts, but courts prohibited such discrimination, even by religious entities. Griffin argues that just as religious organizations should not enjoy religious freedom to stigmatize people of color, so they should not be able to discriminate—and thus stigmatize—people based on sexual orientation. | Read More |
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Banking Opinions | JPMorgan Chase Bank, National Ass'n v. SFR Investments Pool 1, LLC | Court: Supreme Court of Nevada Citation: 136 Nev. Adv. Op. No. 68 Opinion Date: October 29, 2020 Judge: Stiglich Areas of Law: Banking, Real Estate & Property Law | The Supreme Court reversed the district court's order granting summary judgment in favor of Defendant in this foreclosure action, holding that the loan servicer timely commenced the action after the foreclosure sale and sufficiently demonstrated that a regulated entity under the Federal Housing Finance Agency's (FHFA) conservatorship owned the loan. Defendant purchased property at a foreclosure sale. Plaintiff JPMorgan Chase Bank filed a complaint seeking a declaration that the first deed of trust survived the sale and for quiet title. Plaintiff offered evidence that it was servicing the loan on behalf of Freddie Mac, which had previously been placed into an FHFA conservatorship and that the first deed of trust therefore survived under the Federal Foreclosure Bar. Applying a three-year limitations period, the district court entered summary judgment for Defendant, concluding that the foreclosure sale extinguished the deed of trust. The Supreme Court reversed, holding (1) the claims underlying the action are best described as sounding in contract for purposes of the House and Economic Recovery Act statute of limitations, which provides for a six-year statute of limitations; and (2) the Federal Foreclosure Bar prevented the foreclosure sale from extinguishing gate first deed of trust, and therefore, Defendant took the property subject to that deed of trust. | |
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