Ninth Circuit Holds That Allegedly Excessive Underwriting Fees Cannot Be the Basis for a RESPA Section 8(b) Claim and the National Bank Act Preempts State Consumer Protection Claims

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On March 8, the Ninth Circuit Court of Appeals held that the National Bank Act preempts unfair and fraudulent conduct claims under California's unfair competition statute and that allegedly excessive underwriting fees cannot serve as the basis for claims under Section 8(b) of the Real Estate Settlement Procedures Act ("RESPA"). The Martinez v. Wells Fargo Home Mortgage, Inc. decision will make it more difficult for plaintiffs suing federally-chartered national banks to assert state law unfair competition claims based on the bank's lending activities.

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Published In: Antitrust & Trade Regulation Updates, Conflict of Laws Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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