SCOTUS Agrees to Review AG’s Preemption Case v. OCC, Banks
February 2, 2009
The U.S. Supreme Court surprised the mortgage industry by agreeing to review a dispute involving federal preemption of New York’s investigation of several national banks and their operating subsidiaries for alleged discriminatory mortgage lending practices. The Jan. 16 decision to grant certoriari in Cuomo v. Clearing House Association caught industry lawyers off guard...