On August 27, we blogged about the Ninth Circuit unpublished panel opinion in Kivett v. Flagstar Bank issued upon remand of the case from the Supreme Court with instructions to follow the guidance of the Supreme Court contained in its unanimous opinion in Cantero v. Bank of America. In Cantero, the Supreme Court reversed a Second Circuit opinion which had held that the National Bank Act preempted a New York State law requiring the payment of 2% interest on residential mortgage escrow accounts.… Continue Reading
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In finding no National Bank Act Preemption, Ninth Circuit Ignores Supreme Court Directive in and Pays Lip Service to Cantero v. Bank of America Opinion Regarding NBA Preemption
In a surprising quick turn of events, on remand from SCOTUS, the 9th Circuit, on August 23, 2024, issued its unanimous unpublished panel opinion in Kivett v. Flagstar Bank, FSB (Kivett II) in which it essentially re-affirmed its earlier panel opinion holding that there is no preemption of a California state law which requires the payment of 2% interest on residential mortgage escrow accounts.… Continue Reading