| Capital One Is Sued for 360
Account by NY AG James and for Predatory
Lending in East Harlem
by
Matthew Russell Lee, Patreon Book
Substack
SDNY
COURTHOUSE,
May 14 – Capital One
Bank, seeking to move forward
on its much protested but now
Fed approved Discover
mega-merger, has been sued by
NYS Attorney General Letitia
James. While some, seeing the
caption, thought it might be
the attempt to block the
merger that Senator Elizabeth
Warren is asking DOJ to move
for, that was not the case.
Rather,
James is suing Capital One for
misrepresentation in its 360
Performance Savings account.
If the CFPB won't do it, let
the state(s). But what about
the merger? And Captial One's
predatory lending?
For
example, Capital One refused a
payment plan and moved to
foreclose on woman's property
in East Harlem in upper
Manhattan, NYC.
She sued in
state court - and Capital One
moved to transfer the case to
Federal court in the U.S.
District Court for the
Southern District of New York,
where Inner City Press found
it in the docket.
The
plaintiff recounts how she was
tricked, akin to predatory
lending. She is seeking
punitive damages and an
injunction preventing further
foreclosure actions.
On February 17
Capital One's counsel wrote in
asking to extend its time to
answer or otherwise respond -
then it moved to dismiss.
On April 22 -
after a rubber stamp of
Capital One's Discover
takeover - the plaintiff
opposed the motion, asserting
breach of contract and
wrongful foreclosure.
That case
is Sanders v. Capital One,
N.A., 1:25-cv-1252 (Broderick)
This newer case
is The People of the State of
New York, by Letitia James,
Attorney General of the State
of New York, v. Capital One,
et al., 1:25-cv-4037
(unassigned)
***
Your
support means a lot. As little as $5 a month
helps keep us going and grants you access to
exclusive bonus material on our Patreon
page. Click
here to become a patron.
Feedback:
Editorial [at] innercitypress.com
SDNY Press Room
500 Pearl Street, NY NY 10007 USA
Mail: Box 130222, Chinatown Station,
NY NY 10013
Reporter's mobile (and weekends):
718-716-3540
Other, earlier Inner City Press are
listed here,
and some are available in the ProQuest
service, and now on Lexis-Nexis.
Copyright 2006-2025 Inner City
Press, Inc. To request reprint or other
permission, e-contact Editorial [at]
innercitypress.com
|
,
