WV Supremes: State Consumer Protection Statute Provides No Relief For Allegedly Screwed Over Couple Where Mortgage Constituted A "Commercial" Loan (As Opposed To A Consumer Or Agricultural Loan)

In Charleston, West Virginia, The West Virginia Record reports:

• The state Supreme Court has ruled against a Preston County couple who sought to have a bank loan characterized as a “consumer loan” rather than a “commercial loan.”
  
  Doing so might have found them relief under the West Virginia Consumer Credit and Protection Act. The court issued the unanimous memorandum opinion affirming the Circuit Court of Preston County’s Order Granting Summary Judgment to the bank on March 29.
  
  Wayne and Dorothy Miller took out three loans through Clear Mountain Bank in 2008-2010. After the bank foreclosed on certain collateral, the Millers asserted that the bank violated the West Virginia Consumer Credit and Protection Act.
  
  The circuit court entered summary judgment for the bank, finding as a matter of law that the WVCCPA did not apply because the loans were commercial loans and the WVCCPA only applies to consumer transactions.

For more, see Preston couple can’t bring loan claim under consumer protection statute.

For the West Virginia high court ruling, see Miller v. Clear Mountain Bank, Inc., No. 11-1430 (W.V. March 29, 2013)