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OCC Seeks Dismissal of States' Mortgage Escrow Lawsuit
Original: OCC Moves to Dismiss Multistate Challenge to Mortgage Escrow Preemption Actions
The Office of the Comptroller of the Currency has moved to dismiss a multistate lawsuit challenging its preemption actions on mortgage escrow rules. The filing asks a federal court to throw out the states' challenge to the regulator's position that federal law overrides state escrow requirements for national banks. The dispute is being watched by consumer finance lawyers and state attorneys general for its implications over state vs. federal authority in mortgage servicing.
Why now: A federal banking regulator is directly contesting a coalition of states in court over regulatory preemption authority.
Office of the Comptroller of the Currencystate attorneys general
Evidence
- OCC Moves to Dismiss Multistate Challenge to Mortgage Escrow Preemption Actions · Consumer Finance Monitor
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