U.S. Supreme Court Will Not Review Ninth Circuit Bank of America Preemption Ruling

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Supreme Court Upholds Ninth Circuit Court’s Decision in Bank of America, N.A. v. Lusnak

Bank of America’s appeal to overturn California’s state mortgage escrow interest law has been denied by the U.S. Supreme Court. Bank of America previously argued that the California law “prevents or significantly interferes” with the exercise of authority under the National Bank Act and creates “significant uncertainty” with regards to whether state laws apply to national banking institutions.

Donald Lusnak, a homeowner from California, attempted for force Bank of America to comply with the terms of the California law, which requires mortgage lenders to pay a minimum of 2 percent interest on escrow accounts of borrowers. In March 2018, the Ninth Circuit Court ruled to revive Lusnak’s consumer fraud class action lawsuit against Bank of America.

Attorney Richard D. McCune was one of the attorneys who represented Lusnak, and he played a critical role in ensuring the Court upheld its decision to require the Bank of America to operate according to California lending laws when operating within the state. We are proud to have played a role in helping Mr. Lusnak ensure lawful practices by national banks and fair treatment of borrowers’ in California and throughout the United States.

Class Action Lawyers Serving Clients in the Inland Empire

At McCune Wright Arevalo, LLP, we handle even highly complex class action lawsuits. In addition to national banking matters, we have helped clients file class actions involving defective productsemployee rightsoverbilling by financial institutions, deceptive business practices, and more. Throughout the years, we have recovered hundreds of millions of dollars on behalf of clients who have suffered loss due to the unscrupulous practices of corporations and other business entities, and we may be able to lend our skill and experience to your case.

Connect with an Inland Empire class action attorney today to schedule your free, confidential case review. Call (909) 345-8110 today to get started.

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