Democrat Sens. Dianne Feinstein and Kamala Harris of California, Elizabeth Warren of Massachusetts and Richard Blumenthal of Connecticut recently introduced legislation to allow state attorneys general and other state law enforcers to issue subpoenas during the course of investigations regarding compliance with state law by national banks. The Accountability for Wall Street Executives Act of 2017 would clarify that state attorneys general have authority to conduct visitorial oversight of federally-chartered national banks. It also would revise language in the National Bank Act that the Supreme Court interpreted as limiting the visitorial powers of state law enforcers when addressing compliance with state law by national banks. Additionally, the measure would permit subpoenas for suspected violations of real estate lending laws. “With ...