Split 9th Circuit Finds Class' Claims Over Escrow Interest Payments Preempted

Mealey's (October 2, 2020, 4:21 PM EDT) -- SAN FRANCISCO — A 2-1 panel of the Ninth Circuit U.S. Court of Appeals on Sept. 22 reversed a federal judge in California's ruling denying dismissal of a class action lawsuit accusing JP Morgan Chase Bank NA (Chase) of violating California law after finding that the plaintiffs' claims are preempted by the Home Owners Loan Act of 1933 (HOLA) (Susan McShannock, et al. v. JP Morgan Chase Bank NA, No. 19-15899, 9th Cir., 2020 U.S. App. LEXIS 30234)....