October 23, 2017
- Fairbanks aka Select Portfolio Servicing (SPS) pleaded to a California court to dismiss claims against it from a class of citizens. SPS alleged the class of past customers failed to sufficiently plead actual injuries suffered. SPS, owned by Credit Suisse, stands accused of failing to properly report interest paid by their customers.
- U.S. Bank attempted to ask a New York federal court to sanction Royal Park for their delays during discovery; however, the presiding judge denied their request. While Royal Park’s delays were unacceptable, the judge deemed them insufficient to warrant sanctions. The Court further explained U.S. Bank was not prejudiced by the inefficiency; therefore, no other action need be taken.