Independent contractors of federally chartered banks must comply with state laws
United States Court of Appeals, Sixth Circuit , No. 07-4260
Issue: Mortgage Lending
Amicus Brief, filed February 15, 2008
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CRL's amicus brief in support of Ohio Commissioner of Banks Reardon in State Farm Bank, F.S.B. v. Reardon. CRL argues that Ohio's mortgage broker laws apply to the independent contractors of State Farm Bank who make loans on behalf of the bank and are not preempted by the federal Home Owners' Loan Act or regulations issued by the federal Office of Thrift Supervision in this appeal before the U.S. Court of Appeals for the 6th Circuit. The district court upheld Ohio's laws.