The argument Tuesday in Cantero v. Bank of America revealed a bench of justices struggling to reconcile provisions of the National Bank Act that protect national banks with a New York statute requiring all banks (including national banks) to pay interest on the escrow accounts they hold for their mo
The oral argument in Cantero v. Bank of America, N.A. will be heard on Tuesday, February 27 before the US Supreme Court. The Court recently granted the unopposed motion of the Solicitor.
The Supreme Court is poised to resolve a circuit court split on whether the National Bank Act (“NBA”) preempts state laws requiring national banks to pay interest on mortgage escrow.
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