In light of your default status in the above-mentioned case, the upcoming ‘prove-up’ hearing, your request to vacate, and my opposition to it. This seems like the right opportunity to give you and your client the benefit of a reality check regarding this lawsuit. Accordingly, this letter sets forth my analysis of my case thus far, and the range of potential damages that can happen. I do encourage you to share this letter with the proper executives at Discover Bank. I welcome any comments you may have based on the evidence.
Default Judgement
Your recently submitted request to vacate the default, if granted, will only afford you more time to possibly figure out how to overcome the mounds of evidence against you in this case. I encourage
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Your insignificant claim that an obligation exists by me, a made up liability where I owe money to Discover Bank. This is what you are left with, a ridiculous claim that we all know is not true (including the Judge). Not one piece of evidence submitted proves my supposed obligation to Discover Bank. For the simple reason that it does not exist.
Causing further issue, Discover Bank simply admits their credit cards are unsecured debt. We do not need their admission as it is widely known, but we have direct evidence out of the bank’s mouth already, without formal discovery even being effectuated yet. Looking at this particular evidence, nowhere on their web page explaining unsecured debt, does it state ‘we will sue you’, ’seize your assets’ or ‘garnish wages’ to recover their potential losses in lending unsecured debt. In fact, it states the exact opposite. Admitting to the provisions put into place that actually allow them to issue unsecured debt in the first place. Backing my testimony exactly, where my father who issued over $60 Billion of it into society, a genuine expert on the topic, has said the exact same. Therefore, I agree with Discover Bank when they are selling their credit cards to the public, when they are telling the
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Avoid a permanent injunction barring you and Discover from suing further on unsecured debt.
Avoid a landmark ruling that would essentially kill this newly-created market of income.
Avoid a ruling that could pave the way for class actions and/or thousands to potentially sue on similar factual-grounds.
Avoid being the focal point of a documentary studying and exposing White-collar crime.
Avoid Suttell, Hammer, & White having to figure out a different focus of law to stay functional.
Avoid the unnecessary time and expenses associated with a lawsuit.
In order to facilitate an early resolution, we can settle this lawsuit against you for no less than $25 Million. Discover Bank can afford to pay just 4 days profit for their illegitimate action against me and the resulting damages. In return, both your firm and Discover Bank can avoid the above potential pitfalls, and I will sign an agreement not to sue or agitate this situation further against you or your client/partner. Personally, and executives at Discover Bank, if honest, would agree. This would be a massive win for them considering the facts, not even a slap on the wrist, more like a
Based on the contingency continuum theory the bank was on the pure accommodation side by doing full apology, by being honest and communicating it to the public. " Stumpf, who will testify at the Sept. 20 hearing, said he was sorry about the scandal. “We deeply regret any situation where a customer got a product they didn’t request,” Stumpf said during an appearance on CNBC’s “Mad Money” on Tuesday." (Puzzanghera, 2016). Then, always following the apology and restitution strategy Wells Fargo put his public first by doing paying full compensation to them. According to Egan, Wells Fargo has reached a $110 million preliminary settlement to compensate all customers who claim the scandal-ridden bank opened fake accounts and other products in their name. Furthermore, they also did some corrective actions by eliminations retail sales goals. “The elimination of product sales goals represents another step to reinforce our service culture, helps ensure that nothing gets in the way of our ability to achieve our mission and is consistent with our commitment to providing a great place to work,” he said. The sales goals will be eliminated starting Jan. 1, Wells Fargo said." According to Puzzanghera, 2016. Concerning, the corrective action the bank went beyond the elimination of retail sale goals they also fired some employees, paid their fined toward the regulatory bodies including the Consumer Financial Protection Bureau(CFPB) and the
Aldo shipped 10 refrigerators to Rafael pursuant to a sales contract under which title to the goods and risk of loss would pass to Rafael upon delivery to Fleet Railroad. The agreed price was $5,000. When the refrigerators were delivered to Rafael, he found they were damaged. An estimate for repairing them showed it would cost up to $1,000, and an expert opinion was to the effect that they were defective when shipped. Rafael put in a claim to Aldo, which Aldo rejected. Rafael then wrote to Aldo, “I don’t like to get into a despite of this nature. I am enclosing my check for $4,000 in full payment of the shipment.” Aldo did not reply, but he cashed the check and then sued Rafael for the $1,000 balance. May he recover? Explain.
After the time of financial crisis, JP Morgan was not the only national bank in US which got involved in trade of toxic loans related to mortgage. Before JP Morgan, it was Goldman Sachs-another large US Bank that faced the allegation of manipulating the trades in its own self interes, ended up in favor of SEC while GoldMan Sachs were asked to pay $500 Million during late 2011 in a deal called Abascus 2007-AC1 where the bank were alleged to mislead its investors on a deal related to Collateral Debt Obligation(CDO). (Eaglesham, 2011) The ab...
...who violated Randy’s rights. With such little evidence from the Plaintiff, and the fact that Caruso is not a medical professional, she was not involved in the making of policies and procedures relating to medical matters. Therefore, Caruso did not act with deliberate indifference and was entitled summary judgment, because Plaintiff Parsons failed to provide sufficient evidence on Caruso.
Equuscorp launched proceedings in the Supreme Court of Victoria against each of the respondents. Equuscorp’s claims were for “loss and damage” for breach of the loan agreements and for money had and received. The trial judge dismissed Equuscorp’s contractual claim in all eight cases and upheld the restitution claim in two cases. The respondents appealed this decision in the Supreme Court of Victoria’s Court of Appeal. In this appeal, the majority held that the trial judge erred and that Equuscorp was not entitled to restitution. Equuscorp appealed against the decision of the Court of Appeal in relation to the three respondents. Its grounds for appeal included that the Court of Appeal erred in deciding: a) that Equuscorp was not entitled to restitution for the unenforceable loan agreements; b) that it was not unjust for the respondents to keep the amounts pursuant to the unenforceable loan agreements; and c) that restitution was not assigned as a right or remedy to recover the amounts under the unenforceable loan agreements.
California and Hawaiian Sugar Company contracted Sun ship to build a vessel. The contract gave Sun Ship almost two years to complete the work. The contract contained a liquidated clause that required Sun Ship to pay 17,000 dollars per day for ever day that the ship was not delivered after the agreed date. The ship was delivered after eight and a half months after the agreed delivery date. During the period, the ship had not been delivered, California and Hawaiian Sugar Company suffered actual losses of 368,000 dollar. The defendant refused to pay the liquidated damages and the plaintiff brought an action to recover the damages.
I am glad that you are keeping me updated with the status of the case. I have read Provision Optical's response to the complaint and I feel that it is necessary to provide the inquiry committee with additional info to better the investigation. The reason that I am bringing this issue to the attention of COBC is because I believe that this business transaction does not only involve consumer fraud but also violates ethical opticianry services. It is my hope that the success of this case can help prevent other future victims from suffering fraud and unethical services from Provision Optical.
For Chase bank the mission and vision should always be clear to their customers. "At JPMorgan Ch...
One of the most recent white-collar crime involved Wells Fargo, a banking and financial services provider. In 2016 San-Francisco based bank Wells Fargo (WFC) employees secretly created millions of unauthorized bank and credit card accounts without permission of their customers. Opening about 1.5 million fraudulent deposit accounts and submitting 565,443 credit card applications allowed Wells Fargo employees to boost their sales targets and receive bonuses. Consequently, customers were wrongly charged fees for accounts they did not know existed. In this business crime scenario, Wells Fargo involved to pay $185 million in fines and refund $5 million to affected customers. Also, around 5,300
In 2008 the worst financial crisis since the great depression hit and left many people wondering who should be responsible. Many Americans supported the prosecution of Wall Street. To this day there have still not been any arrests of any executive on Wall Street for the financial collapse. Many analysts point out that greed of executives was one of the many factors in the crisis. I will talk about subprime loans, ill-intent, punishments, and white collar crime.
What occurred in this case was an advertising agency requested that its bank to look into the credit value of a third party client. The bank then contacted the third parties bank to gain permission for the information to be freely given. They then asked if the client would be a good credit risk for 100,000 (pounds sterling) and the third parties bank replied that the client “was a respectably constituted company and considered good for its normal business requirements” so after hearing this response the advertising agency went ahead to extend the credit to the client. However, the third parties bank statement was in fact untrue and because of this the agency lost over 17,000 (pounds
The Bank also said that they are going to refund the money to all the customers that were affected by the fraud and that they are also willing to pay all the penalty fees. In my opinion, giving the clients, their money back is a good start good but that is only an external fixture. In order for them to fix the problem from the root, they need to work on it internally too.
Financial Services Authority, 2009 ‘The Responsibilities of Providers and Distributors for the Fair Treatment of Customers (RPPD)’
Numerous amounts of people have financial problems when they get out of high school, so what should the school board do? In 2007, thirty-four out of fifty states have personal finance courses in their curriculum (Bernard 4). A financial literacy course seems to be what a majority of states are doing. Financial literacy courses have their pros and their cons just like everything else. Financial literacy courses bring up some very important questions.
Bank of America Jimmy Magoufit Florida Atlantic University Company Bank of America was founded in 1904 as Bank of Italy and later changed their name to Bank of America Corporations. Bank of America is well known as the largest financial institution in America that serves consumers, businesses, corporations, and governments. The bank offers numerous and different financial services to its customers, one being mobile banking. Introduced in 2007 by Bank of America, mobile banking was created to appeal to their customers that were always on the move. After launching their mobile app within three years, Bank of America had over four million users signed up and actively using the app.