Boutris

ORDER

Plaintiffs Wells Fargo Bank, N.A. (“Wells Fargo”) and Wells Fargo Home Mortgage, Inc. (“WFHMI”) move for a preliminary injunction seeking to enjoin Defendant Demetrios Boutris, in his official capacity as the Commissioner of the California Department of Corporations (“the Commissioner”) “from enforcing the California Residential Mortgage Lending Act, Cal. FimCode § 50002 et seq. (including § 50204(o)), California Civil Code § 2948.5, and the California Financial Lenders Law, Cal. Fin.Code § 22000 et seq., against [Wells Fargo and WFHMI]; from revoking WFHMI’s licenses to do business in California under those laws; and from otherwise taking any action against WFHMI for continuing to do business in the state of California.” (Pis.’ Mot. for Prelim. Inj. at 1-2.) The essence of Plaintiffs’ argument is that they are subject exclusively to federal regulation by the Office of the Comptroller of the Currency (“OCC”) since federal banking law preempts the Commissioner’s regulatory authority over federally regulated national banks. The OCC filed an amicus curiae brief in which it contends the National Bank Act precludes the Commissioner from exercising visitorial powers over…