On May 30, the U.S. Supreme Court issued a unanimous decision in Cantero v. Bank of America, vacating and remanding a decision by the Second Circuit that concluded that the federally authorized powers of national banks under the National Bank Act preempted a New York state law requiring banks to pay at least 2% interest on mortgage escrow accounts.
Originally published in Law360 - August 30, 2024.
Please see full publication below for more information.
