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Supreme Court rules U.S. law protects banks from state regulation

The U.S. National Bank Act pre-empts states from regulating the activities of national banks, such as Wells Fargo. The Supreme Court found Tuesday that Michigan couldn’t regulate the mortgage-lending subsidiaries of federally chartered banks. Photo by Noah Berger/Bloomberg NewsThe U.S. Supreme Court limited the power of states to oversee financial institutions, ruling that Michigan can't ...

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