States Oppose OCC Bid to Dismiss Mortgage Interest-on-Escrow Lawsuit Challenging New OCC Regulations

Oregon and nine other states argue that the OCC unlawfully preempted state interest-on-escrow laws, that Oregon is a proper venue, and that their challenge to the agency’s authority should proceed. The court expects to rule on the OCC’s motions by November 20. Ten states challenging the Office of the Comptroller of the Currency’s (OCC) mortgage interest-on-escrow rules have opposed the agency’s motion to dismiss or transfer the case….