Financial Services Industry
Industry: Email Alert RSS FeedHigh court hears Barnett argument. (Supreme Court listens to arguments from Barnett Banks' lawyer)
National Underwriter Life & Health-Financial Services Edition, January, 1996 by Brostoff, Steven
The United States Supreme Court has begun hearing arguments in the Barnett Banks case concerning state anti-affiliation statutes. There are questions over whether these statutes will be preempted by the National Bank Act. Observers expect that the Court will reach a decision before Congress re-convenes to discuss the matter after the federal budget impasse is resolved. The lawyer representing Barnett Banks argued to the Court that Congress never intended the Federal Government to enact laws which are anticompetitive in effect.
WASHINGTON - THE United States Supreme Court heard oral arguments last week on the Barnett Banks case while action in Congress over bank powers appears stalled until late February due to the continuing budget battle.
Robert Rusbuldt, vice...
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