Preemption Debate Continues - Now In The Supreme Court
On June 19, 2006, the Supreme Court agreed to decide whether states can apply their lending rules to national banks that are currently regulated by the U.S. Comptroller of the Currency, and operating subsidiaries of those national banks. A "yes" answer could open national banks and their operating subsidiaries, as well as other federally chartered institutions, to a host of new state-specific rules and oversight procedures.
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