Conference of State Bank Supervisors: Appeals Court Errs in Interest on Escrow Decision
May 07, 2026
May 07, 2026
WASHINGTON, May 7 -- The Conference of State Bank Supervisors issued the following news release:
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Appeals Court Errs in Interest on Escrow Decision
Yesterday, the U.S. Court of Appeals for the Second Circuit ruled that New York's law requiring interest payments on mortgage escrow accounts does not apply to national banks because it is preempted by the National Bank Act.
This decision ignores the high bar for preemption established by . . .
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Appeals Court Errs in Interest on Escrow Decision
Yesterday, the U.S. Court of Appeals for the Second Circuit ruled that New York's law requiring interest payments on mortgage escrow accounts does not apply to national banks because it is preempted by the National Bank Act.
This decision ignores the high bar for preemption established by . . .