Montana March 2014 A woman who sued US Bank alleging the company defrauded her when she sought a $300,000 loan to buy a condo in Bozeman has been awarded $6 million in damages.
Gallatin County jury found US BANK guilty of actual fraud and constructive fraud, and on Friday awarded Mary McCulley $1 million in compensatory damages and $5 million in punitive damages.
McCulley filed suit in June 2009, alleging that US BANK sent her the required 30- year Truth in Lending documents, and instead gave her an 18-month commercial loan. She also claimed the forged deed of trust, which recorded her property as commercial, instead of residential, kept her from being able to refinance with other banks.
McCulley's attorney, Patricia Peterman of Billings, said the verdict was fair. The lead defense attorney, Mark Sherer / Mackoff Kellogg, for US Bank was not available for comment.
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