Facts

Wells Fargo Bank assigned auto loans to a national credit management firm. The loans were in default after repossession of collateral vehicles. Later, plaintiff requested cancellation of deficiencies and deficiency judgments, which were worth millions of dollars, alleging that defects existed in post-repossession notices that the bank had given to borrowers.

Plaintiff sued the national credit management firm pursuant to the Rees Levering Motor Vehicle Sales & Finance Act and the Fair Debt Collection Practices Act.

DEFENDANT'S CONTENTIONS:
Defendant argued that the National Bank Act and decision of the office of the Comptroller preempted requirements of the Rees Levering Act.

Result

The court dismissed the action with prejudice.

Other Information

Plaintiff has filed a notice of appeal.