Federal Judge Certifies Bank’s HOLA Preemption Question To 9th Circuit

Mealey's (March 4, 2019, 11:39 AM EST) -- SAN FRANCISCO — A California federal judge on Feb. 27 granted a lender’s motion to certify a question related to whether borrowers’ claims for violations of California law are preempted by the Home Owners Loan Act (HOLA) to the Ninth Circuit U.S. Court of Appeals, holding that the question presents a novel and undecided legal issue (McShannock v. JP Morgan Chase Bank N.A., No. 18-01873, N.D. Calif., 2018 U.S. Dist. LEXIS 207262)....