National Bank Act Preemption Appeal Proper To Cure Circuit Split, Bank Argues

Mealey's (January 20, 2023, 8:45 AM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court should grant review of a bank’s petition for writ of certiorari to cure a circuit split regarding the National Bank Act’s (NBA’s) preemption of state laws that “attempt to set the terms on which federally chartered banks may offer mortgage escrow accounts authorized by federal law” because the issue is of “vital importance to the national banking system,” as reinforced by the Office of the Comptroller of the Currency (OCC), the bank argues in a reply brief filed in the Supreme Court....