Patomak’s Keith Noreika was quoted in Capitol Account discussing the Supreme Court’s decision in Cantero v. Bank of America, a case that involved federal preemption in banking.

“The extent to which courts ought to consider prior case law was an issue when Dodd-Frank was being written, and the law is ambiguous on the matter. At the time, banks argued that preemption cases should take that into account, said former Acting Comptroller Keith Noreika.

“Today’s decision ‘should be a win for the banking industry because that’s exactly what they wanted at the time – to preserve that jurisprudence,’ Noreika said.”

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