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McGlinchey Stafford

New York Interest-On-Escrow Law Preempted by National Bank Act

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On September 15, 2022, the U.S. Court of Appeals for the Second Circuit ruled in Cantero v. Bank of Am. that the National Bank Act (NBA) preempts a New York law requiring mortgage lenders to pay interest on mortgage escrow...more

Ballard Spahr LLP

CFPB delays effective date of Reg Z prohibition on financing credit insurance premiums

Ballard Spahr LLP on

The CFPB has issued a final rule delaying the June 1, 2013 effective date of the Regulation Z prohibition on financing credit insurance premiums (Section 1026.36(i)). The final rule sets January 10, 2014 as the prohibition’s...more

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