Enabling State Suits Against National Banks

Law360, New York (June 30, 2009, 12:00 AM EDT) -- The Supreme Court has now issued its decision in Cuomo v. The Clearing House Association and Office of the Comptroller of Currency, No. 08-453.


The court ruled that the National Bank Act’s grant of visitorial exclusivity to the Office of the Comptroller of Currency (OCC) did not prohibit lawsuits filed by state governments seeking to enforce state laws, even if those suits involve the lending practices of national banks.

The court unanimously held, however, that states could not rely on administrative subpoenas (or the threat...
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