Predatory Lending

Community Bank of Northern Virginia and Guaranty National Bank of Tallahassee

Pursuant to agreement, after the Third Circuit reversed the District Court's final approval of the class settlement, the Parties participated in a mediation on June 9, 2011.  The purpose of the mediation was to explore whether the prior settlement could be amended in such a way as to adequately compensate the class members and address class certification issues identified as problematic by the Third Circuit.  Unfortunately, the Parties failed to reach an agreement, and the case will be returning to a litigation posture.  The Plaintiffs have asked the Court to enter a Case Management Order to allow discovery and motion practice to resume.  On September 20, 2011, Judge Lancaster issued a Memorandum and Case Management Order appointing lead counsel, resolving scheduling issues, and granting Plaintiffs' Motion for Leave to File an Amended Consolidated Complaint.  In accordance with that order, lead counsel filed Plaintiffs' Joint Consolidated Amended Class Action Compaint on October 4, 2011, and Plaintiffs' RICO Statement on October 18, 2011.  Those documents are linked below.

Updated 10/24/2011

• Plaintiffs' First Amended Rico Case Statement (pdf -1.76 MB)
• Plaintiffs' Joint Consolidated Amended Class Action Complaint (pdf - 810 KB)
• Third Circuit Court of Appeals Opinion (pdf - 398 KB)
• Final Judgment - August 14, 2008 (pdf - 19 KB)
• Memorandum Order and Final Judgment - August 14, 2008 (pdf - 234 KB)
• Class Action Notice - April, 2008 (pdf - 48 KB)
• Advisory Opinion (pdf - 201 KB)
• Joint Motion for Approval of Modified Settlement (pdf - 484 KB)
• Memorandum and Order 01/25/2008 (pdf - 92.4 KB)

Please contact us with any questions or if you'd like to explore your legal rights.