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The meaning of the word "located" was at the heart of a Supreme Court argument last week that could affect a wide range of consumer litigation against national banks. Three circuits -- the 5th, 7th and 9th -- have enhanced banks' ability to get federal court jurisdiction by holding that national banks are citizens only of the state in which they maintain their principal place of business. But the 4th Circuit has held that national banks are citizens of every state in which they maintain a branch.
December 08, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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