Extract to table

Any decision by Lender with respect to future extensions of credit shall be made in Lender's sole and absolute discretion based on Lender's then-applicable credit policies, regulatory requirements, and risk appetite, and no course of dealing, oral representation, or prior practice shall be construed as creating any obligation or expectation with respect thereto

The New York Court of Appeals has consistently held that a party seeking punitive damages in a fraud case must demonstrate aggravating circumstances beyond those necessary to establish the underlying tort of fraud itself

General allegations of "willful" or "malicious" conduct are insufficient; the pleading must set forth specific factual allegations demonstrating either the public-directed prong or the moral turpitude prong

3d 74 (2010), the Court of Appeals reiterated that the public-directed requirement means that "the conduct must be actionable as a fraud on the public, not merely as a fraud on the individual plaintiff

Ordinary commercial fraud — even deliberate, intentional fraud — is insufficient; the fraud must be accompanied by circumstances indicating "criminal indifference" or conduct that is the functional equivalent of a crime

The Independent Tort Requirement Under New York law, a critical prerequisite for punitive damages in connection with a fraud claim is that the fraud must constitute an independent tort — i