United States Fourth Circuit

Subject to its compliance with federal law, a non-federally chartered housing creditor in Virginia may charge a prepayment fee, despite any limitation imposed by the Virginia Code, because federal law preempts state law on the issue by virtue of the Parity Act, 12 USC 3803(c).

Appellate Information

• Argued 10/30/2000
• Decided 02/07/2001
• Published 02/07/2001

Judges

• Before NIEMEYER and LUTTIG, Circuit Judges, and WILLIAMS, United States District Judge for the District of Maryland, sitting by designation.

Court

• United States Fourth Circuit

Counsel

• For Appellees:
  
• ARGUED:  Robert A. Dybing, Shuford, Rubin & Gibney, Richmond, VA, for Appellants.  Earle Duncan Getchell, Jr., McGuire, Woods, Battle & Boothe, L.L.P., Richmond, VA, for Appellee.   ON BRIEF:  James C. Dimitri, William F. Schutt, State Corporation Commission of Virginia, Richmond, VA;  Martha B. Brissette, Office of the Attorney General of Virginia, Richmond, VA, for Appellants.  Robert L. Hodges, William H. Baxter, II, McGuire, Woods, Battle & Boothe, L.L.P., Richmond, VA, for Appellee.