News & Analysis as of

Dodd-Frank Wall Street Reform and Consumer Protection Act › Supreme Court of the United States › Interest Rates

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Cadwalader, Wickersham & Taft LLP

What Happens When You Ignore the Supreme Court? Maybe the Ninth Circuit Will Find Out – an Update on National Bank Preemption

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As we reported in June, the Supreme Court handed down a decision in Cantero v. Bank of America on bank pre-emption matters that remanded cases decided by three different Circuit Courts, finding that  the courts did not apply...more

Ballard Spahr LLP

Acting Comptroller Hsu pressured to repeal preemption regs by Conference of State Bank Supervisors and consortium of consumer...

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On July 19, we blogged about comments Acting Comptroller Hsu made before the Exchequer Club on July 17 particularly his decision to review prior OCC preemption determinations in light of the Supreme Court’s recent opinion in...more

McGlinchey Stafford

New York’s Interest-On-Escrow Law May Not Be Preempted by the National Bank Act

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On May 30, 2024, the Supreme Court reversed the Second Circuit’s holding that New York General Obligation Law § 5–601, which mandates banks to pay borrowers the interest accumulated on a balance held in an escrow account for...more

Troutman Pepper

National Bank Preemption of State Law Following Cantero

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On May 30, the U.S. Supreme Court unanimously decided Cantero, reaffirming and elaborating on the Barnett Bank preemption standard, and remanding the case to the Second Circuit for further proceedings. Cantero addressed...more

Cadwalader, Wickersham & Taft LLP

Will Supreme Court Ground Tremors Cause National Bank Preemption Tsunami?

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On May 30th, an unanimous Supreme Court ruled that the Second Circuit needed to take another shot at evaluating whether Bank of America, a national bank, can pre-empt a New York state law requiring the payment of interest on...more

Ballard Spahr LLP

Supreme Court punts the NBA preemption analysis back to the Second Circuit

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On May 30, 2024, in a unanimous decision, the Supreme Court reversed Cantero v. Bank of America, N.A., and remanded it back to the Second Circuit and instructed the appellate court to analyze whether New York’s law requiring...more

Husch Blackwell LLP

U.S. Supreme Court Rejects a More Bright-Line National Bank Act Preemption Standard

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In a unanimous decision, the U.S. Supreme Court rejected a more bright-line standard for determining whether the National Bank Act (NBA) preempts a state law. Rather, the Supreme Court explained that the NBA preemption...more

Ballard Spahr LLP

SCOTUS oral argument in Cantero v. Bank of America provides no clear indication of likely outcome

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On February 27, 2024, the U.S. Supreme Court heard oral argument in Cantero v. Bank of America, N.A., a case involving the effect of the Dodd-Frank Act on the scope of preemption under the National Bank Act (NBA). The...more

Ballard Spahr LLP

Important National Bank Act (NBA) preemption case to be argued Today, February 27, before US Supreme Court

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The oral argument in Cantero v. Bank of America, N.A. will be heard on Tuesday, February 27 before the US Supreme Court. The Court recently granted the unopposed motion of the Solicitor General to participate in the oral...more

Troutman Pepper

Amici Argue for Narrow Interpretation of National Bank Act Preemption

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A group of non-profit consumer advocacy organizations, the Conference of State Bank Supervisors, and the American Association of Residential Mortgage Regulators filed two separate briefs asking the U.S. Supreme Court to...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: What the Recent Developments in Federal Preemption for National and State Banks Mean for...

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Providers of consumer financial services that rely on federal preemption to charge customers uniform interest rates and fees on a nationwide basis are currently facing a series of legislative and litigation challenges. In...more

Saiber LLC

SCOTUS Agrees to Hear Case Concerning State Regulation of Federal Banks

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The Supreme Court of the United States has agreed to hear Cantero v. Bank of America, N.A., a case that concerns the power of states to regulate federally-chartered banks. The Court has granted review of the case despite the...more

Morrison & Foerster LLP

Financial Services Report - Spring 2021

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Can you say 0 to 60? Not cars, but pretty much everything to do with financial services. A new year, a new administration, and new challenges for providers. Prior CFPB Director Kraninger is long gone. Acting Director Uejio...more

Ballard Spahr LLP

Ninth Circuit puts hold on CashCall appeal pending SCOTUS decision in Seila Law; CFPB asks Second Circuit to adjourn oral argument...

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As expected, the U.S. Supreme Court’s grant of Seila Law’s cert petition is impacting other cases in which the CFPB’s constitutionality has also been challenged. ...more

BakerHostetler

2015 Mid-Year Securities Litigation and Enforcement Highlights

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Welcome to the 2015 Mid-Year Report from the BakerHostetler Securities Litigation and Regulatory Enforcement Practice Team. The purpose is to provide a periodic survey, apart from our team Executive Alerts, on matters we...more

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