Oregon community banks sue state over foreclosure moratorium

Oregon banks are suing the state government over a blanket moratorium on foreclosures passed this summer they describe as an unconstitutional violation of contract law.

Filed Thursday in the U.S. District Court of Oregon’s Eugene division, the lawsuit names the Oregon Bankers Association, the Lewis & Clark Bank, the Bank of Eastern Oregon, and the People’s Bank of Commerce as plaintiffs.

It names Oregon Attorney General Ellen Rosenblum and Oregon Department of Consumer and Business Services Director Andrew Stolfi as defendants.

The suit claims legislation passed by Oregon lawmakers “broadly adjusts the
Read more…

Please follow and like us: