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Court Blocks AG's Subprime Race Discrimination Probe

Law360 (December 4, 2007, 12:00 AM EST) -- An appeals court sided with the office of the comptroller of the currency on Tuesday, saying that the attorney general overstepped his authority by launching a 2005 probe into racially discriminatory lending practices by banks.

The opinion upheld a pair of 2005 decisions by the U.S. District Court for the Southern District of New York, which found that the attorney general could not subpoena, or otherwise investigate, banks to enforce federal and state laws against them.

Then-New York Attorney General Eliot Spitzer launched an investigation into...
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