Citizens Bank, N.A. v. Conti

Citizens Bank asked the Supreme Court to decide whether the National Bank Act overrides a Rhode Island law requiring interest on certain mortgage escrow accounts. The case was dismissed, so the Court did not decide that question.

The case was dismissed before oral argument, and no substantive justice or advocate reactions are available yet.

The dispute could affect mortgage borrowers whose escrow accounts hold money for taxes and insurance. It also concerns whether national banks must follow state rules that affect the pricing of mortgage products.

No Supreme Court decision window is available. Watch for any further scheduling move or other action from the Court.

The dispute concerns whether national banks must pay interest on certain Rhode Island mortgage escrow accounts. The Court did not decide that question because the case was dismissed.

Mortgage borrowers with covered escrow accounts could receive interest under the state requirement. National banks could face different mortgage-product rules across states.

No decision window is available because the case was dismissed. Any later court scheduling move or other action would be the next development to watch.