Houston v. Wells Fargo Bank CA2/2
Opinion
Opinion
DISCUSSION
1. Appeal and Review Appeal lies from the judgment of dismissal after demurrers are sustained without leave to amend. (Code Civ. Proc., §§ 581d, 904.1, subd. (a)(1); Serra Canyon Co. v. California Coastal Com. (2004) 120 Cal.App.4th 663, 667.) Review is de novo. (Desai v. Farmers Ins. Exchange (1996) 47 Cal.App.4th 1110, 1115.) We accept the truth of properly pleaded material facts, but not contentions, deductions or conclusions of fact or law; we may also consider matters subject to judicial notice. (Yvanova v. New Century Mortgage Corp. (2016) 62 Cal.4th 919, 924.) 2. Preemption For over 200 years, the Supreme Court has held that federal law is supreme over state law in the area of national banking. (Watters v. Wachovia Bank, N.A. (2007) 550 U.S. 1, 10-11.) The trial court concluded that plaintiffs’ state statutory claims are preempted by the Home Owners’ Loan Act, 12 U.S.C. § 1461 et seq. (HOLA). HOLA governs federally chartered savings and loan associations (also known as thrift institutions), superseding state laws purporting to address the operations of thrift institutions. The power to govern thrifts is vested in the Office of Thrift Supervision.