4th Circ. Revives Repo Preemption Suit Against Chase

Law360, New York (April 6, 2012, 4:15 PM EDT) -- 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 or the...
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