Biz Journals-
Under the deal, the bank would not have to pay $40 million in punitive damages previously ordered by a Sacramento bankruptcy judge, if it agrees not to appeal the case.
The large award was influenced by the bank’s ongoing treatment of the couple, Erik and Renee Sundquist, when it moved to foreclose on their Lincoln home in 2010. The Sundquists had filed for bankruptcy protection, which should have put an automatic stay on foreclosure proceedings. Under the final …[paywall]
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