4th Circ. Revives Repo Preemption Suit Against Chase
Thug mentality business practices for certain. As if this company with access to a bevy of legal minds did not know they had a responsibility by law to provide notices to their own customers when it came to redeeming their repossessed vehicle.
The Fourth Circuit on Thursday revived a putative class action against JPMorgan Chase Bank NA accusing the financial giant of selling repossessed cars without providing proper notice, ruling federal regulations do not preempt Maryland’s closed-end creditor provisions.
Vacating a lower court judgment and remanding the case for further proceedings, the appeals court issued a unanimous decision siding with a Maryland woman who said Chase violated the Maryland Credit Grantor Close End Credit Provisions (CLEC) by not informing her the location of her repossessed vehicle.
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