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Cuomo v. Clearing House Ass'n., L.L.C., No. 08-453

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By FindLaw Staff on June 29, 2009 12:58 PM

In an action claiming that certain state fair-lending laws were preempted by the National Bank Act (NBA) and accompanying regulations, an injunction in favor of Plaintiffs is affirmed in part, where the state's threatened issuance of executive subpoenas was an improper exercise of "supervisory power". However, the judgment is reversed in part where a federal regulation purporting to pre-empt state law enforcement is not a reasonable interpretation of the NBA.

Read Cuomo v. Clearing House Ass'n., L.L.C., No. 08-453

Appellate Information

Argued April 28, 2009

Decided June 29, 2009

Judges

Justice Scalia delivered the opinion of the Court.

Justice Thomas, concurring in part and dissenting in part.

Counsel

Attorneys for Petitioner:

Barbara D. Underwood, Counsel of Record, Office of the Attorney General, New York, NY 

Attorneys for Respondents:  

Seth P. Waxman, Wilmer Cutler Pickering Hale and Dorr LLP, Washington, DC

Elena Kagan, Solicitor General,  United States Department of Justice, Washington, DC

Robinson B. Lacy, Sullivan & Cromwell LLP, 125 Broad Street, New York, NY

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