Fraud suit against bank is dismissed, despite contradictory bank documents
Francois A. Farah and others sued Bank of America in Genessee County Circuit Court. The Plaintiffs argued that improper actions of the bank caused them financial loss. The trial court dismissed the Plaintiffs' claims and the Court of Appeals upheld the dismissal. The Plaintiffs apparently submitted bank documents which confirmed their claims that the bank had reversed it's initial default arguments and bank memoranda that found Plaintiffs to be in compliance with their loan obligations. Nevertheless, the Court rejected the argument that these documents and oral statements by bank loan officers created a question of fact with regard to the Plaintiff's fraud and misconduct claims. Among other holdings, the appellate judges ruled that Plaintiffs' claims--even if true--did not establish "extreme and outrageous" conduct.