CLE Materials for Panel #1 - George Washington University Law ...

1 Public Law 111–203, 124 Stat. 1376 (2010).
2 Baptista v. JP Morgan Chase Bank, N.A., 640 F.3d 1194 (11 th Cir. 2011) (hereinafter “Baptista II”).
3 Letter dated May 12, 2011 from Acting Comptroller of the Currency John Walsh to Senator Thomas R. Carper, available
at http://op.bna.com/bar.nsf/id/cbre-8gtg38/$File/occletter.pdf.
4 76 Fed. Reg. 30557 (May 26, 2011).
5 Baptista II, 640 F.3d at 1196, citing Baptista v. JP Morgan Chase Bank, N.A., No. 6:10-cv-139-Orl-22DAB, 2010 WL
2342436 (M.D.Fla. June 4, 2010) (hereinafter “Baptista I”).
6 Fla. Stat. § 655.85 provides “… an institution may not settle any check drawn on it otherwise than at par.”
7 Baptista II, 640 F.3d at 1196.
8 Baptista I, 2010 WL 2342436 *2-3.
9 Wells Fargo Bank of Texas N.A. v. James, 321 F.3d 488 (5 th Cir. 2003) (hereinafter “Wells Fargo”).
10 Id. at 491.
11 Barnett Bank of Marion County, N.A. v. Nelson, 517 U.S. 25 (1996) (hereinafter “Barnett”).
12 Wells Fargo, 321 F.3d at 491.
13 Id. at 491-492, citing to U.S. Const., Art. VI, cl. 2 and Barnett, 517 U.S. at 31.
14 Baptista II, 640 F.3d at 1198, citing to Wells Fargo, 321 F.3d at 495.
15 Id.
16 A “state consumer financial law” is a state law “that does not directly or indirectly discriminate against national banks
and that directly and specifically regulates the manner, content, or terms and conditions of any financial transaction (as
may be authorized for national banks to engage in), or any account related thereto, with respect to a consumer.”
Dodd-Frank Act, § 1044, codified in relevant part at 12 U.S.C. § 25b(a)(2) (eff. July 21, 2011).
17 Dodd-Frank Act, § 1044, codified in relevant part at 12 U.S.C. § 25b(b) (eff. July 21, 2011).
18 Available at http://www.paulhastings.com/assets/publications/1668.pdf?wt.mc_ID=1668.pdf. See also V. Gerard
Comizio & Helen Y. Lee, Understanding the Federal Preemption Debate and a Potential Uniformity Solution, Business
Law Brief, Spring/Summer 2010 (advocating the development and adoption of a Uniform Banking and Consumer
Protection Act to achieve uniform state banking regulation and conformity with federal banking law).
19 May 12 th OCC Letter, p. 2.
20 Available at http://www.occ.treas.gov/news-issuances/news-releases/2011/nr-occ-2011-62.html. The Preemption NPR
was published in the Federal Register on May 26, 2011, at 76 Fed. Reg. 30557 (May 26, 2011).
21 129 S. Ct. 2710 (2009).
22 76 Fed. Reg. at 30564, citing to Cuomo v. Clearing House Assn., L.L.C., 129 S. Ct. 2710 (2009).
23 550 U.S. 1 (2007).
24 76 Fed. Reg. at 30563.
25 Baptista II, 640 F.3d at 1198.
26 76 Fed. Reg. at 30563.
27 U.S. Department of the Treasury Comment Letter to OCC-2011-0006, p. 2-3 (June 27, 2011) (hereinafter “Treasury
Comment Letter”).
28 Treasury Comment Letter, p. 1.
29 Id. at 2.
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