BY JAMES THORNBURG
Do states have the power to enforce their own fair-lending laws against national banks? This was the question presented to the Supreme Court of the United States in Cuomo v. Clearing House Ass’n, L.L.C. In a majority opinion by Justice Antonin Scalia, the Court answered in the affirmative, holding that states have the power to enforce state laws against national banks.
BY ALEXANDRA KUTCHINS
The Supreme Court of the United States vacated an injunction against the attorney general of New York insofar as it prohibited him from bringing a judicial enforcement action to enforce compliance with New York fair-lending law because the vesting of visitorial powers in the Comptroller of the Currency does not preclude a state from enforcing its laws of general applicability.