States can investigate nationally chartered banks - Silicon Valley / San Jose Business Journal:

vilyfijohy.wordpress.com
The case, Cuomo vs. Clearing House Association, stemws from a New York state investigationj that sought information from national banks about potential discriminatoru banking practices that violated NewYork law. The federal banking regulator, the , objectef to the requests by New Yorkstatse officials, eventually siding with a suit brought by Clearing House Payments Co. LLC, which argued that the statwe hadno jurisdiction. The investigation was starte d in 2005by then-New York Attorney General Ellioty Spitzer, and it was continued by current New York Attornety General Andrew Cuomo.
They both arguedf that the fact a bank is regulate d by the federal governmengt does not give it immunity from violating state Consumer groupssupported Cuomo’s positiojn because state officials tend to be more activ in defending consumers. Banking groups are not pleased. “Wse are worried about the effect that this rulinf could have onthe markets,” said Rich Whiting, executived director of the Financial Services Roundtable, adding that the decisiomn could create a patchwork of stats laws at the cost of the efficiencies of the nationalk market. “Cuomo vs.
Clearing House Association hinders the abilitt of financial services firmas from conducting business in the United Whiting said. “Even worse, it will causee confusion for consumers, especially those who move from state to state.”