New York's attorney general is barred from investigating national banks for possible violations of federal and state laws, a federal appeals court ruled Tuesday. The 2nd Circuit said the interpretation of the National Bank Act by the Office of the Comptroller of the Currency was entitled to deference, and the attorney general's office had no "visitorial powers" over national banks. With one small exception, the circuit largely upheld rulings made in two 2005 cases by New York federal Judge Sidney Stein.
New York State Denied Authority Over National Banks
New York Law Journal
December 5, 2007