U.S. Court of Appeals for the Second Circuit in New York
The U.S. Court of Appeals for the Second Circuit ruled on an issue of first impression Monday that Bank of New York Mellon Trust Co. may face a federal class action from a couple who sued the bank for waiting nearly 11 months to record that they had paid off a mortgage loan.
The ruling, from a divided panel of the Manhattan-based appeals court, found for the first time that plaintiffs have Article III standing to sue over the alleged violation of legal interests created by state statute.
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