U.S. Supreme Court
Jun. 30, 2009
High Court Rules States Can Enforce Their Own Fair-Lending Laws
The U.S. Supreme Court further limited Monday the federal government's ability to pre-empt state laws by allowing New York to enforce its fair lending laws against national institutions.
By Robert Iafolla
Daily Journal Staff Writer WASHINGTON - The U.S. Supreme Court ruled Monday that federal banking regulations don't prevent New York's attorney general from enforcing the state's fair lending laws against national financial institutions. The decision further limits the federal government's ability to pre-empt state laws. The five-justice majority found that the state can investigate federally chartered banks and sue them in state...
Daily Journal Staff Writer WASHINGTON - The U.S. Supreme Court ruled Monday that federal banking regulations don't prevent New York's attorney general from enforcing the state's fair lending laws against national financial institutions. The decision further limits the federal government's ability to pre-empt state laws. The five-justice majority found that the state can investigate federally chartered banks and sue them in state...
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