Oregon Attorney General Dan Rayfield co-led a coalition of 10 states in a federal lawsuit against the Office of the Comptroller of the Currency (OCC) to block a rule that invalidates state laws requiring mortgage lenders to pay interest on escrow accounts. The lawsuit argues the OCC's rule oversteps federal authority, gives national banks a competitive advantage over state-chartered banks, and takes money away from homeowners.
The states seek a court order wiping the OCC's rule off the books, restoring Oregon's interest-on-escrow law, and leveling the playing field between lenders and borrowers.
In-house legal teams at mortgage lenders and servicers should review their mortgage loan agreements and servicing contracts to ensure compliance with state escrow interest laws. The OCC's rule sought to exempt national banks from these requirements, but this lawsuit challenges that rule, so companies should monitor developments and ensure their contracts do not rely on the invalidated rule. Additionally, contracts with third-party servicers should include provisions requiring compliance with applicable state laws regarding escrow interest.
Entity
Office of the Comptroller of the Currency
Industry
Financial ServicesOfficial Press Release
https://www.doj.state.or.us/media-home/news-media-releases/ag-rayfield-sues-to-block-trumps-lawless-handout-to-big-banks/
States escrow interest complaint
https://www.doj.state.or.us/wp-content/uploads/2026/08/States-escrow-interest-complaint.pdf
Oregon Attorney General Enforcement Page
https://www.doj.state.or.us/consumer-protection/
"Office of the Comptroller of the Currency (OCC)"
"Oregon law that requires mortgage lenders to pay interest on the money they require borrowers to deposit into escrow accounts"
"state laws – including Oregon’s – requiring lenders to share the money they earn on borrowers’ escrowed funds"
"The case challenges a decision by a little-known but powerful federal agency, the Office of the Comptroller of the Currency (OCC), to invalidate an Oregon law"
Nine state attorneys general, led by New York AG Letitia James, sued the U.S. Office of the Comptroller of the Currency (OCC) to stop two rules that preempt state laws requiring banks to pay interest on escrow accounts. The coalition argues the rules exceed OCC's authority under Dodd-Frank and the Administrative Procedure Act. The suit seeks a court order declaring the rules illegal and preventing their implementation.
Attorney General William Tong and a coalition of 10 attorneys general filed a lawsuit challenging a new OCC rule that preempts state laws requiring national banks to pay interest on homeowners' mortgage escrow accounts. The lawsuit argues the OCC ignored federal court decisions and bypassed safeguards, and seeks to block the rule.
An Oregon judge rejected RealPage’s attempt to have the state’s rent-pricing lawsuit dismissed, allowing the case to move forward. Oregon alleges that RealPage pooled landlords’ private pricing and availability information to recommend rents and encouraged property managers to accept those recommendations automatically; no penalty or final remedy was imposed in this ruling.
Oregon Attorney General Dan Rayfield joined a multistate coalition in filing a lawsuit challenging NHTSA’s rollback of fuel economy standards. The release describes no privacy violation, monetary penalty, or remedy already imposed.
$400.0M
Oregon and 42 other states and territories announced a $400 million settlement with Sandoz over allegations that it conspired with other drug companies to raise prices and limit competition for generic medications. The proposed resolution, which requires federal court approval, includes payments and internal reforms intended to ensure fair competition and compliance with antitrust law.
Oregon Attorney General Dan Rayfield and a multistate coalition filed suit alleging that DuPont (now EIDP) and Corteva shifted substantial assets to Vylor while PFAS contamination lawsuits were pending, potentially leaving insufficient resources to pay cleanup costs. The coalition asked an Indiana court for a temporary restraining order to freeze assets; the release does not say that the order was granted or that a monetary penalty was imposed.