Borrowers’ Petition In NBA Preemption Appeal Not Good Vehicle For Review

Mealey's (February 24, 2023, 9:45 AM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court should deny review of a Second Circuit U.S. Court of Appeals ruling that the National Bank Act (NBA) preempts New York’s escrow-interest law because the Supreme Court has already denied certiorari on the question presented by borrowers in the instant action and because a recently filed petition in a substantially similar case is a better vehicle for addressing the issue, Bank of America NA argues in a respondent’s brief filed in the Supreme Court....