John Stoker & John Lightbourne co-author Law360 article: National Bank Act Rulings Facilitate More Preemption Analysis
Moore & Van Allen (MVA) Financial Regulatory Advice & Response Attorneys John Stoker and John Lightbourne co-authored the article, “National Bank Act Rulings Facilitate More Preemption Analysis,” published by Law360.
The article
For followers of developments related to National Bank Act preemption, and the U.S. Supreme Court's May decision in Cantero v. Bank of America, the waning days of 2024 proved noteworthy.
On Dec. 20, in Illinois Bankers Association v. Raoul, the U.S. District Court for the Northern District of Illinois applied Cantero's principles for evaluating claims of NBA preemption of state law and granted a preliminary injunction from enforcement of Illinois' Interchange Fee
Prohibition Act, or IFPA, against national banks and federal savings associations.
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