Extract to table

Any decision regarding the extension of additional credit, if any, shall be made by Lender in its sole and absolute discretion, and no course of dealing, oral representation, or prior practice shall be deemed to create any such commitment or obligation

Rather, the plaintiff must allege that "the conduct at issue was part of a pattern of similar conduct directed at the public generally

Under the second prong — a "high degree of moral turpitude" — the plaintiff must allege conduct that is qualitatively different from, and substantially more egregious than, ordinary commercial fraud

Something more than a misrepresentation — even a deliberate one — is necessary; the conduct must "shock the conscience" and reflect a degree of moral culpability that goes beyond mere deception in the course of a commercial transaction

Moreover, CPLR 3016(b) imposes a heightened pleading standard for claims sounding in fraud, requiring that "the circumstances constituting the wrong shall be stated in detail

If the rule were otherwise, any fraud claim against a large institution would automatically qualify for punitive damages — a result that is plainly inconsistent with the New York Court of Appeals' insistence that punitive damages in private fraud actions are "extraordinary" and must be "applied sparingly