Cozen O'Connor's Menachem J. Kastner and Ally Hack discuss the current state of the law regarding when a statute gives rise to a private cause of action, endeavoring to simplify the formula to be applied.
March 28, 2014 at 12:00 AM
1 minute read
Recently, in Cruz v. T.D. Bank,1 the Court of Appeals was again confronted with what was thought to be a settled issue: When does a statute give rise to a private cause of action? In concluding that no private cause of action existed under the Exempt Income Protection Act (EIPA), the court restated the applicable three-prong test:
(1) Is plaintiff one of the class for whose benefit the statute was enacted?
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