Preemption Takes Center Stage At CFPA Markup

Law360, New York (October 20, 2009, 6:09 PM EDT) -- Members of the U.S. House of Representatives Financial Services Committee on Tuesday battled over two proposals dealing with preemption of state law for national banks, a central sticking point for both sides at work on a bill that would create a Consumer Financial Protection Agency.

Votes are expected Wednesday on two competing amendments tackling the thorny issue of preemption regarding national banks, following heated debate between Financial Services Committee members during the second full day of markup on the Consumer Financial Protection Agency Act of 2009,...
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