WVBA Joins as a Friend of the Court in Support of Member Bank
A federal appeals court will soon hear oral arguments on whether the National Bank Act preempts West Virginia law with regard to the application of payments and delinquency charges on a residential mortgage loan under the West Virginia Consumer Credit and Protection Act (Powell v. Huntington Nat'l Bank, 4th Cir., 17-cv-01118, opening brief filed 3/31/17).
The law in question was successfully amended this past spring as the cornerstone of the WVBA’s legislative agenda for the regular session of the 2017 West Virginia Legislature. The changes became effective on July 4, 2017. So while the underlying provisions of state code have changed, the Court’s decision in Powell could have a lasting impact on the broader issue of federal preemption of state law. The WVBA joined as a friend of the court in this matter along with the American Bankers Association, Consumer Bankers Association, Financial Services Roundtable, and the Ohio Bankers League in support of the Defendant-Appellee and member bank, Huntington National Bank.