First American’s power to deposit checks in First nationwide Bank’s account will not show that First United states may be the loan provider.
Plaintiff points to First United states’s power to deposit the borrowers’ checks into the bank-account as evidence that First United states could be the entity really managing the loans.
First nationwide Bank’s part in analyzing loan requests, giving the approved loan requests, funding the loans, and accepting the mortgage profits constitutes enough interstate business to meet the meaning of “involving commerce” in the meaning of 9 U.S.C. В§В§ 1,2. See Staples v. Money Tree Inc., 936 F. Supp. 856, 858 (M.D.Ala.1996).
The FAA makes legitimate any “written agreement to arbitrate a dispute arising *1374 out of a deal involving interstate commerce, save upon such grounds as occur at law or perhaps in equity when it comes to revocation of a agreement.” Bess, 294 F.3d at 1304.Continue Reading