Supreme Court To Hear Wachovia Case

Law360, New York (November 27, 2006, 12:00 AM EST) -- The battle between a Michigan regulator and Wachovia Bank N.A. has gone all the way to the top court as lawyers for the financial company and the state’s banking commissioner prepare to give oral arguments before the Supreme Court Wednesday.

The case, which centers on the role state regulators have in overseeing the mortgage subsidiaries of national banks, pits states’ rights against the regulations put forward in the National Bank Act.

In the case, Linda Watters, the commissioner of Michigan’s Office of Insurance and Financial Services,...
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