Case Updates
Ninth Circuit orders dismissal of claims brought by borrowers under California mortgage escrow account law
September 22, 2020
The court held that the Home Owners’ Loan Act preempts application of California’s law and its implementing regulations, even where the mortgage is assigned from a savings association to a national bank. The U.S. Chamber filed an amicus brief supporting this outcome.
U.S. Chamber supports reversal of District Court’s judgment that Home Owners’ Loan Act does not preempt application of state laws and regulations to loans originated by federal savings associations that are sold on secondary market
August 12, 2019
Click here to view the amicus brief filed jointly by the U.S. Chamber, Banking Policy Institute, and American Bankers Association.
Matthew Schwartz of Sullivan & Cromwell LLP served as co-counsel for the amici.
Case Documents
- Order Denying MTD Mc Shannockv JP Morgan Chase Bank N A USDC Northern Districtof California
- Bank Policy Institute Amicus Brief -- McShannock v. JP Morgan Chase Bank N.A. (Ninth Circuit).pdf
- U.S. Chamber Amicus Brief -- McShannock v. JP Morgan Chase Bank, NA (Ninth Circuit) .pdf
- Appellees Answering Brief -- McShannock v. JP Morgan Chase Bank, NA (Ninth Circuit).pdf
- Appellees Supplemental Excerpts of Record -- McShannock v. JP Morgan Chase Bank, NA (Ninth Circuit).pdf
- JPMorgan Reply Brief -- McShannock v. JP Morgan Chase Bank, NA (Ninth Circuit).pdf
- Opinion -- McShannock v. JP Morgan Chase Bank, NA (Ninth Circuit).pdf