julho 08 2024

HIGH COURT’S LATEST PREEMPTION RULING SHEDS LITTLE NEW LIGHT FOR BANKS, OTHER BUSINESSES

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In opining on the scope of express preemption of state laws by the National Bank Act (“NBA”), the Supreme Court determined that Congress did not intend to establish a clear test. Instead, in enacting the relevant provisions of the Dodd-Frank Act of 2010, Congress intended preemption to be analyzed in accordance with the Court’s precedents on the issue dating back to the NBA’s enactment.

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