Davis Polk Financial Institutions practice head Margaret Tahyar was quoted in Law360 discussing Cantero v. Bank of America, a case before the Supreme Court focusing on the scope of federal preemption privileges for national banks, an issue the OCC has described as “foundational” for the federal banking system.

“This is going to be the first Supreme Court case on preemption since the Dodd-Frank standards were put in place,” Margaret said. “They may well set out principles that would apply across a range of consumer products.”

“It could be broader than that, too, but where the rubber hits the road in preemption is around consumer protection laws,” she added.

“4 High Court Cases For Banks To Watch In 2024,” Law360 (January 1, 2024) (subscription required)

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