A Tampa Bay teacher has sued the 511,000-member, $4.9 billion Suncoast Schools Federal Credit Union in Florida court, charging the CU repossessed her car after she fell behind on her mortgage payments.
Angela DiNapoli said she was never late on her car payments to the Tampa-based CU but that she returned from a short vacation to find her car gone. Initially she called the police, only to find out later that credit union had repossessed the car.
She also said, in a press release, that she had never been notified that she had missed a car payment or that the car could be repossessed. Her attorney, Charles Gallagher of St. Petersburg, also said the CU had no “cross collateral” clause in the mortgage contract which would let it repossess the car in the event she fell behind on mortgage payments.
“This is a new tactic for lenders,” Gallagher said. “There is absolutely no legal justification for taking her car, when she was up to date on her payments.”
He said Suncoast Schools later filed a foreclosure lawsuit against Napoli and that she filed her own suit. Suncoast Schools acknowledged the litigation but has not yet commented on it.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
