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NJ sustain CAP forfeiture

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Jun 20, 2007 1:05 pm

anonymous

Joined: 2005-09-29Offline

The NJ courts have sustained Citi/Smith Barney's position that the CAP program is NOT an illegal diversion of wages or an illegal forfeiture provision.  To read the full case, visit:

http://lawlibrary.rutgers.edu/courts/appellate/a5252-04.opn. html

I will be happy to answer personal message queries through this forum or to me at [email protected] in order to preserve your confidentiality.

Jun 20, 2007 11:48 pm

doberman

Joined: 2005-02-23Offline

Thanks for the heads-up, Bill.

Not that it would ever apply to me, but if SB ever walked in my front door with a check for 5x my trailing 12, it would be nice to know.