until today, we have never written about CPLR 322(a), which provides that: Where the defendant in an action the plaintiff’s counsel was authorized to commence the action. Wilmington was a mortgage foreclosure action. enforcement and preservation of the [plaintiff's] interests in [mortgage loans for which the plaintiff was acting had such authority, accompanied by a power of attorney authorizing the plaintiff's servicing agent to act

HSBC  involves the Foreclosure Abuse Prevention Act  (“FAPA”), and the statute of limitations in foreclosure actions. Foreclosure Action”). A subsequent foreclosure action was commenced in 2018 (the “Second Foreclosure Action”). The Sponsor’s Memo repeatedly warned of lenders’ “unilateral” acts, including lenders’ “unilateral ability

investment adviser is a fiduciary, and as such is held to the highest standard of conduct and must act Because the Converted Accounts had relatively little trading activity before and after the conversions respondents willfully violated the antifraud provisions of Section 206(2) of the Investment Advisers Act of 1940 (“Advisers Act”) and that One Oak also violated the compliance rule provisions of the Advisers Act.

While a landmark MetLife study initially estimated that older Americans lose roughly $2.6 to $2.9 billion stockbrokers, financial advisors, investment advisers, and insurance agents – individuals who are supposed to act The SEC charged Defendant with violating Section 17(a)(1) of the Securities Act of 1933, Section 10(b ) of the Securities Exchange Act of 1934, and Rules 10b-5(a) and (c) thereunder, and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940.⁵ Without denying the SEC’s allegations, Defendant

In actuality, the money used to pay the investor comes from the investor’s own principal investment dollars Apr. 29, 2025), an enforcement action brought by the U.S. alleged that the Fiduciary was owned and controlled by a longtime associate of Defendants A and B and acted Commenting on the complaint, Sam Waldon, Acting Director of the SEC’s Division of Enforcement, said: A copy of the press release announcing the enforcement action can be found here. ____________________

(“Act”) ( here ). Enacted as part of the Economic Growth, Regulatory Relief, and Consumer Protection Act, the Act is designed American Securities Administrators Association (“NASAA”), and the Financial Industry Regulatory Authority and how the Act’s immunity provisions work.” According to AARP, “ ne in 5 older Americans are victims of financial exploitation each year.” ( Here

One aspect of a foreclosure action is the calculation of the amounts due to the lender. Note: this BLOG has previously written about referees in foreclosure actions. Although the judge presiding over the action can calculate the amounts due, the task is typically referred On March 27, 2024, the Appellate Division, Second Department, decided Bank of America v. In 2009, the lender in Danzig commenced an action to foreclose a mortgage.

litigated in the earlier action. arbitration, and ordered the parties to proceed to arbitration before an arbitrator designated by the American Thereafter, the plaintiff commenced the action (the “present action”) against defendants to recover damages to the issues raised in the present action.” and specifically decided’ in the prior action.”

Many of the investors were members of the Nigerian-American community. defendants violated the federal securities laws, namely Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 (“Securities Act”) and Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) The SEC filed the action (SEC v. Another case in California saw an alleged promoter targeting the Filipino-American community with promises

American Bldg. Supply Corp. v. In American Bldg. the Court rejected the broker’s claim that the plaintiff should be barred from recovery American Bldg., 19 N.Y.3d at 736. so than general insurance agents or brokers, unless the latter are informed and asked to advise and act In SPA, Plaintiffs commenced an action against broker for breach of contract because, according to the

where “the contract contemplates the exercise of discretion, this pledge includes a promise not to act American Home Products Corp. , 58 N.Y.2d 293, 304 (1983); see also Cherry Operating LLC v. North American Partners in Anesthesia, LLP , 237 A.D.3d 1063, 2066 (2nd Dept. 2025) (citation, internal Subsequently, US Bank recorded a mortgage on the same property and, thereafter commenced an action to Citibank defaulted in the Foreclosure Action.

Department has stated that an “RPAPL 1304 notice is a notice pursuant to the Home Equity Theft Prevention Act requires that at least 90 days before a lender, an assignee, or a mortgage loan servicer commences an action “Compliance with RPAPL 1306 is a condition precedent to commencing a foreclosure action.” with RPAPL 1306 is a condition precedent to the commencement of a foreclosure action” (Deutsche Bank Goetz The lender commenced a foreclosure action against the borrower in 2012.