United States First Circuit
Demelo v. U.S. Bank National Association, 12-2485
Summary judgment for defendant-successor bank in plaintiffs' action alleging violations of state consumer protection law and wrongful foreclosure is affirmed, where: 1) the exhaustion requirement under Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) bars plaintiffs' claims; and 2) the plaintiffs' mortgage was assigned to defendant-successor banks by operation of federal law, which specifically authorizes the FDIC to transfer assets of a failed financial institution without assignment, and as such, obviates the need for the specific written assignment that state law would otherwise require.
Appellate Information
- Decided 08/16/2013
- Published 08/16/2013
Judges
- SELYA
Court
- United States First Circuit