Forum
U.S. Supreme Court
Case Status
Docket Number
08-453
Term
2008 Term
Oral Argument Date
April 28, 2009
Questions Presented
1. Whether 12 C.F.R. § 7.4000 is entitled to judicial deference under Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., 467 U.S. 837 (1984).
2. Whether 12 C.F.R. § 7.4000 is invalid because it is inconsistent with the authoritative construction of the National Bank Act by the Supreme Court in First National Bank in St. Louis v. Missouri, 263 U.S. 640 (1924).
Case Updates
Supreme Court addresses state regulation of federally chartered banks
June 29, 2009
The Supreme Court concluded that the National Bank Act does not preempt states from concurrently enforcing state discrimination laws against federally chartered banks. The Court held that the Office of the Comptroller of the Currency unreasonably interpreted the National Bank Act’s grant of exclusive ‘visitorial,’ or regulatory, authority over the federally charted banks to encompass the enforcement of state law as well as federal law.
U.S. Chamber files amicus brief
April 01, 2009
NCLC urged the Supreme Court to uphold a lower court ruling that the National Bank Act preempts states from concurrently enforcing state discrimination laws against federally chartered banks. The Office of the Comptroller of the Currency interpreted the National Bank Act’s grant of exclusive ‘visitorial,’ or regulatory, authority over the federally charted banks to encompass the enforcement of state law as well as federal law. NCLC argued that the Court should accord broad deference to the agency’s interpretation of the statute.