Bankers File Suit in Arizona Supreme Court to Challenge Repeal of Foreclosure Law

Summary


A coalition of bankers has asked the Arizona Supreme Court to overturn the repeal of legislation enacted to benefit banks harmed by a wave of foreclosures.

On Oct. 21, the Arizona Bankers Association has filed a petition for special action with the state's highest court in hopes of negating a provision included in state budget legislation that successfully repealed a foreclosure law signed into law in July. The law was set to take effect on Sept. 30.

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Extract


Bankers File Suit in Arizona Supreme Court to Challenge Repeal of Foreclosure Law

The group's president, Tanya Wheeless, charges that the Legislature and Gov. Jan Brewer violated the state Constitution by including a repeal of S1271 when they drafted H2008, a state ...

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