Opinion ID: 1931103
Heading Depth: 2
Heading Rank: 3

Heading: Trial Court's Summary Judgment

Text: Initially the trial judge, Judge Joel Laird, denied AmSouth's and Protective's motions for a summary judgment without a written order. Shortly thereafter Judge Laird recused himself from the case and was replaced by Judge Samuel Monk. AmSouth and Protective presented renewed and supplemental motions for a summary judgment before Judge Monk. Judge Monk granted the motions for a summary judgment. The order stated: [AmSouth and Protective] contend that the rates charged the [Singletons] were in compliance with the applicable regulation and, in fact, were less than the maximum allowable rates. [AmSouth and Protective's] contention is wholly supported by the affidavit testimony of James A. Whitehead. Mr. Whitehead and the Department of Banking specifically found that the credit life insurance rates applied and charged in the case were less than the actuarial equivalent of those rates allowed by law at the time of the [Singletons'] loans. Mr. Whitehead further concluded that the actual premiums charged to the [Singletons] in this case complied with the applicable Banking Department regulation. In opposition to [AmSouth's and Protective's] Motion[s], the [Singletons] have filed the affidavits of two certified public accountants ... [T]his Court finds that the affidavits do not address the primary issue of actuarial equivalence.... After having considered all of the evidence submitted, this Court specifically finds that the premiums charged the [Singletons] were not calculated on the `total payments' (gross amount) as alleged by the [Singletons] but were in fact based upon the actual unpaid balance of principal and accrued interest. Furthermore, this Court finds that the premiums charged by [AmSouth and Protective] were in compliance with the Alabama State Banking Department Regulation 4(c) as amended on May 22, 1991. The trial court also concluded that there was no evidence of any misrepresentations concerning the credit-life insurance coverage; it therefore found that the Singletons had failed to present substantial evidence of fraudulent misrepresentation. The trial court also found there was no evidence to support a suppression claim because the loan documents provided to the Singletons clearly disclosed how the premiums for the credit-life insurance were calculated.