State attorneys general won a major turf war in the Supreme Court Monday as the justices held that states may enforce their anti-discrimination and consumer protection laws against national banks. The Court, in a 5-4 ruling, struck down a regulation issued by the chief federal regulator of national banks that pre-empted the states' power to enforce those laws. The case was followed closely not only by the banking industry but by civil rights and consumer organizations, and public and private state regulatory groups.
High Court Rules States Can Enforce Fair Lending Laws
The National Law Journal
June 30, 2009