Financial Services Industry
Industry: Email Alert RSS FeedCSBS joins state preemption case before Supreme Court
Bank News, October, 2006 by Anonymous
The Conference of State Bank Supervisors has joined with the National Conference of State Legislatures, National Governors Association and a number of other state and local government organizations filing an amicus curiae brief with the Supreme Court in a case involving the federal preemption of state consumer protection laws. The brief was filed in support of the petitioner, Linda A. Watters, commissioner of the Michigan Office of Insurance and Financial Services. The Supreme Court is expected to hear the case later this fall.
The case at issue was brought in response to earlier district court and appeals court rulings that upheld preemptive regulations issued by the Office of the Comptroller of the Currency.
"In practical effect, the court created a presumption in...
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