Banks Could See Preemption Win in Supreme Court Case

Inside Mortgage Finance, Feb. 28, 2024–Shannon Clark
Bank of America and other national banks could be on track for a victory at the Supreme Court, based on oral arguments Tuesday. A majority of justices looked to be willing to rule that federal law preempts efforts by states to require interest payments to mortgage borrowers for funds in servicing escrow accounts. The ruling will also have ramifications for bank regulation beyond escrows.
Click here for more (subscription)