Walter G. Moeling, IV, a partner with the Atlanta law firm Powell Goldstein LLP, said the ruling is particularly important given the current environment; the subprime mortgage crisis, mounting foreclosures, and the credit crunch have tarnished the banking industry's reputation, making it potentially more difficult to win in front of a jury.

"In this market, there is a pent-up sentiment, 'I'm not happy with financial institutions,' and juries are skeptical whether a bank is being greedy," he said. "They think, 'If this bank isn't shooting straight, I'm going to nail them,' so banks are better off owning up to their mistakes."