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The Fourth Circuit Court of Appeals affirmed the district court’s dismissal of Mark and Natasha Wesker’s claims against Bank of America. The Weskers alleged the bank mishandled their application for a modification of their home equity line of credit, leading to financial harm and damage to their credit score.

The Weskers asserted the following claims against Bank of America:

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In the case William T. Lyons v. PNC Bank, N.A., the U.S. Court of Appeals for the Fourth Circuit addressed two key issues involving the Truth in Lending Act (TILA) and the Real Estate Settlement Practices Act (RESPA), both related to Home Equity Lines of Credit (HELOCs).
 

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The case involves a court-appointed receiver tasked with distributing assets recovered from a Ponzi scheme involving over 230 investors who were defrauded by Kevin Merrill, Jay Ledford, and Cameron Jezierski. The appellants, two groups of investors (the Dean Investors and the Connaughton Investors), challenged the district court's approval of the receiver's plan to distribute the recovered assets.

The receiver proposed to use the "Rising Tide" method to distribute funds.  The Rising Tide method:

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