CRUZ v. TD BANK, N.A.

No. 191

22 N.Y.3d 61 (2013)

2013 NY Slip Op 7762

GARY CRUZ et al., Appellants, v. TD BANK, N.A., Respondent. GERALD F. MARTINEZ et al., Appellants, v. CAPITAL ONE BANK, N.A., Respondent.

Court of Appeals of New York.

Decided November 21, 2013.


Attorney(s) appearing for the Case

Law Offices of G. Oliver Koppell & Associates, New York City ( G. Oliver Koppell and Daniel F. Schreck of counsel), for appellants in the first and second above-entitled proceedings.

Duane Morris LLP, Philadelphia, Pennsylvania ( Alexander D. Bono and Ryan E. Borneman of counsel), for TD Bank, N.A., respondent in the first above-entitled proceeding.

McGuireWoods LLP, New York City ( Robert Plotkin of counsel), McGuireWoods LLP ( Nicholas B. Lewis , of the District of Columbia bar, admitted pro hac vice, of counsel) and McGuireWoods LLP ( Matthew A. Fitzgerald , of the Virginia bar, admitted pro hac vice, of counsel) for respondent in the second above-entitled proceeding.

AARP Foundation Litigation, Washington, D.C. ( Julie Nepveu of counsel), New Economy Project Inc., New York City ( Claudia E. Wilner of counsel), and St. John's University School of Law, Jamaica ( Gina M. Calabrese of counsel), for AARP and others, amici curiae.

Sullivan & Cromwell LLP, New York City ( Bruce E. Clark , Nicolas Bourtin , Adam R. Brebner and Zeh S. Ekono of counsel), for New York Bankers Association, amicus curiae.


OPINION OF THE COURT

GRAFFEO, J.

Plaintiffs are judgment debtors whose bank accounts were "frozen" by judgment creditors in anticipation of enforcement of a money judgment pursuant to CPLR article 52. Plaintiffs allege that the restraints were invalid because their banks failed to comply with requirements imposed on financial institutions under the Exempt Income Protection Act of 2008 (EIPA). That legislation compels banks served with restraining notices...

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