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Dodd-Frank Act And National Bank Preemption: Much Ado About Nothing, Raymond Natter, Katie Wechsler Dec 2012

Dodd-Frank Act And National Bank Preemption: Much Ado About Nothing, Raymond Natter, Katie Wechsler

Raymond Natter

Federal preemption of state law has been a contentious issue since 1819, when the Supreme Court upheld the right of the Federal Government to charter a national bank and preempted a state attempt to tax that institution. In 1863, the National Bank Act (NBA) established the national bank system, with the goal of having federally chartered institutions eventually supersede state banks. Efforts by the states to prevent this result and to enforce state laws on national banks led to a continuing debate over the preemptive effect of the National Bank Act over the past 150 years.

More recently, those opposed …


Federal Governmental Power: Preemption From The October 2008 Term, Eileen Kaufman Sep 2012

Federal Governmental Power: Preemption From The October 2008 Term, Eileen Kaufman

Touro Law Review

In a stunning trifecta, the Supreme Court ruled in favor of consumers and held that federal law did not preempt state consumer claims. The three cases concerned patients injured by drugs, smokers misled by false advertising, and borrowers victimized by predatory lending practices. These cases represent the latest battle in the ongoing war between consumer advocates and business entities over whether federal laws should be interpreted to erect barriers against state consumer protection laws.

Wyeth v. Levine raised the issue of whether approval of a drug by the F.D.A. preempts a state tort claim based on failure to warn. Altria …