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The Supreme Court issued a unanimous decision in Cantero v. Bank of America, N. A. (22-529), authored by Justice Brett Kavanaugh on May 30, 2024. The Court vacated and remanded the Second Circuit's decision, which had failed to properly analyze whether a New York State banking regulation concerning interest-on-escrow is preempted by the Dodd-Frank Act. The case will return to the Second Circuit for further analysis in accordance with the Supreme Court's direction.
3 #SCOTUS rulings today: 1. Cantero v. Bank of America. Unanimous Kavanaugh opinion. Court below failed to apply proper preemption analysis to NY interest-on-escrow law. https://t.co/XwdEhOWQfQ
NEW: SCOTUS decides Bank of America v. Cantero, a unanimous decision by Brett Kavanuagh. Court vacates and remands 2nd Circuit's decision, which is summarized below. https://t.co/U3ohtEiAXI https://t.co/sV6x8JrHEl
The first case out today is 22-529 Cantero v. Bank of America, N. A. (05/30/24) (https://t.co/PQ8DmyJXwJ) This reverses the Second Circuit's preemption of NY State banking law and remands to review the matter with the Court's direction. @CaseyMattox_ has one on his prediction