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Real Estate/Development,
9th U.S. Circuit Court of Appeals

Sep. 23, 2020

State escrow account law is preempted, 9th Circuit rules

Two judges selected by Republican presidents — in an opinion authored by Judge Ryan D. Nelson, an appointee of President Donald Trump — concluded a California law requiring the payments in home sales is preempted.

A divided 9th U.S. Circuit Court of Appeals panel ruled Tuesday JP Morgan Chase Bank doesn't have to pay interest on escrow accounts because it is preempted by a 1933 federal law.

Two judges selected by Republican presidents -- in an opinion authored by Judge Ryan D. Nelson, an appointee of President Donald Trump -- concluded a California law requiring the payments in home sales is preempted.

The ...

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