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First and Ninth Circuit decisions conflict with the Second Circuit, while the OCC has concluded that state escrow-interest laws are preempted

National bank preemption is headed toward another Supreme Court showdown. The Second Circuit has held that New York’s mortgage escrow-interest requirement is preempted, directly conflicting with the First Circuit’s decision upholding a comparable Rhode Island requirement and the Ninth Circuit’s decision allowing a similar California law to remain in effect.… Continue Reading

The battle over the scope of the Office of the Comptroller of the Currency’s authority to preempt state consumer financial laws has entered a new phase. On August 11, 2026, Oregon and nine other states with “blue” attorneys general filed a lawsuit challenging two rules adopted by the OCC that purport to preempt state laws requiring mortgage lenders to pay interest on funds held in escrow accounts.… Continue Reading

On June 1, 2026, Chief Judge Virginia Kendall of the U.S. District Court for the Northern District of Illinois issued a major follow-up opinion in Illinois Bankers Association v. Raoul that substantially alters the court’s February 2026 summary judgment decision regarding the Illinois Interchange Fee Prohibition Act (“IFPA”).

The new opinion was issued after the Seventh Circuit vacated the district court’s February ruling and remanded the case for reconsideration in light of the Office of the Comptroller of the Currency’s April 2026 Interim Final Rule and Interim Final Order addressing the IFPA.… Continue Reading

The U.S. Court of Appeals for the Seventh Circuit issued a highly significant order on May 8, 2026 in the closely watched litigation challenging the Illinois Interchange Fee Prohibition Act (“IFPA”), vacating the district court’s judgment and remanding the case for further proceedings in light of the OCC’s recently issued Interim Final Rule and preemption order.… Continue Reading

On April 23, 2026, the Office of the Comptroller of the Currency (OCC), Federal Reserve Board, and Federal Deposit Insurance Corporation (FDIC) jointly issued a final rule revising the Community Bank Leverage Ratio (CBLR) framework. The rule, titled “Regulatory Capital Rule: Revisions to the Community Bank Leverage Ratio Framework,” will take effect on July 1, 2026.It… Continue Reading

Following on the FDIC’s recent issuance of updated guidelines for appeals of material supervisory determination, the OCC is now proposing to replace the existing guidance for handling appeals of material supervisory determinations at institutions under its jurisdiction and to create a board to decide bank appeals.  The deadline for comments on the proposal is April 20, 2026.… Continue Reading

HERE IS A LINK TO OUR SPECIAL PODCAST SHOW ABOUT THIS CASE AND ITS ENORMOUS IMPLICATIONS RELEASED ON WEDNESDAY, OCTOBER 1.

On September 22, 2025, a panel of the First Circuit Court of Appeals issued a significant opinion in Conti v. Citizens Bank, N.A., holding unanimously that the National Bank Act does not preempt a Rhode Island statute requiring mortgage lenders to pay interest on mortgage escrow accounts.… Continue Reading

The OCC has issued two bulletins clarifying how it will handle debanking at its supervised institutions.

One bulletin states that the agency will assess debanking in connection with licensing activities, including, but not limited to, charter applications, charter conversions, applications to exercise fiduciary powers, branch applications and requests for approval of business combinations, and as part of its Community Reinvestment Act reviews.… Continue Reading

The Senate has confirmed Jonathan Gould as Comptroller of the Currency.

Gould, who served as Senior Deputy Comptroller and Chief Counsel at the OCC during President Trump’s first term, was confirmed 50-45. Every Democrat voted against the nomination.

He replaces Rodney Hood, who was Acting Comptroller, after being selected by Trump to serve in that role.… Continue Reading