Appeals Court Rules In Favor Of Preemption
A federal appeals court has ruled that a Texas law prohibiting banks from charging non-account
Judge Fortunato P. Benavides of the U.S. Court of Appeals for the Fifth Circuit in New Orleans said that Texas' "par
"Because it prohibits the exercise of a power which federal law expressly grants national banks, par value is in
Industry representatives hailed the decision for supporting the comptroller of the currency's power to override state
"This is another terrific decision affirming the extraordinarily broad preemptive effect of the National Bank Act,"
- From CU Journal Reports.