Elizabeth Sperling Quoted by Law360 on Supreme Court Banking Regulations Case

Glaser Weil litigation partner Elizabeth Sperling was quoted extensively by Law360 on Tuesday, February 27, regarding the Cantero v. Bank of America case that was argued to the U.S. Supreme Court this week regarding federal preemption of state laws regulating national banks.

The case considers whether federal law exempts national banks from state laws requiring payment of interest on escrow accounts. The case has far-reaching implications not only for national banks but for the OCC and other regulatory agencies and the Chevron deference doctrine more broadly.

“This is highly significant for the banking industry space," said Sperling. "There are many other regulatory issues besides escrow interest where there could be preemption that will be affected by the Supreme Court's decision in this case.”

Read the article to learn more (subscription required).