States can investigate nationally chartered banks - Birmingham Business Journal:

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The case, Cuomo vs. Clearing House Association, stemz from a New York state investigation that sought information from national banks about potential discriminatory banking practicess that violated NewYork law. The federal banking the , objected to the requestsz by New Yorkstate officials, eventuallty siding with a suit broughr by Clearing House Payments Co. LLC, whicb argued that the state had no The investigation was starte d in 2005by then-Nea York Attorney General Elliot and it was continued by current New York Attorneyg General Andrew Cuomo. They both argued that the fact a bank is regulated by the federal government does not give it immunity from violatingstates laws.
Consumer groups supported Cuomo’s position because state officials tend to be more active indefendinh consumers. Banking groups are not pleased. “We are worrief about the effect that this ruling couls have onthe markets,” said Rich executive director of the Financial Services Roundtable, addinvg that the decision could creat e a patchwork of state laws at the cost of the efficienciews of the national market. “Cuomo vs. Clearinfg House Association hinders the ability of financial services firmds from conducting business in theUnitexd States” Whiting said. “Even worse, it will cause confusion for especially those who move from statdto state.
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