Association of Banks Sues NY Attorney General Spitzer

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00005437-association-of-banks-sues-ny-attorney-gen/

An association of leading commercial banks sued Attorney General Eliot Spitzer on Thursday, saying his probe into the lending practices of national banks violates laws ensuring banks are not subject to supervision by state authorities.

The lawsuit in U.S. District Court in Manhattan asked the court to block Spitzer from demanding information to enforce federal and state discrimination-in-lending laws against banks belonging to the Clearing House Association.

The Manhattan-based association said it was taking the legal action as part of its role of protecting the rights of its 11 members, eight of which are federally chartered national banks already subjected to federal regulation.

It said at least three of its banks – HSBC Bank USA, JPMorgan Chase Bank and Wells Fargo Bank – have been subjected to the probe.

For this complete story, please visit Association of Banks Sues NY Attorney General Spitzer.

Association of Banks Sues NY Attorney General Spitzer

Unknown Author

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