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9th Circuit Dismisses E*TRADE Class Action

SAN FRANCISCO (CN) - The 9th Circuit has affirmed dismissal of a class action that claims E*TRADE Mortgage refused to refund a $400 fee lock-in fee paid by borrowers who then rescinded their mortgage within the three-day cancellation period. The court held that federal law pre-empts plaintiffs' claims under the state Unfair Competition Law.

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