The Texas Banking Department has scored a major victory in its legal fight to keep national banks from using a controversial branching rule to move into the state.

U.S. District Court Judge Barefoot Sanders late Wednesday overturned a decision by the Office of the Comptroller of the Currency authorizing Commercial National Bank of Texarkana, Ark., to branch into Texas while retaining branches in Arkansas.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.