Court to rule on case that could shift bank regulation

04/29/2009 | NYTimes.com

Supreme Court justices on Tuesday heard arguments in Cuomo v. the Clearing House Association, which could shift oversight of banks from federal to state regulators. Four years ago, New York's then-attorney general, Eliot Spitzer, questioned the disproportionately high number of high-interest mortgages made by national banks to Hispanic and black borrowers. He tried to enforce the state's anti-discrimination laws, but was shut down by the Office of the Comptroller of the Currency, which regulates national banks.

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