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TCH Defends Federal Banking Preemption Laws

The Clearing House Association filed an amicus brief in Parks v. MNBA America Bank, N.A. This is a national bank preemption case before the California Supreme Court in which the defendant (now FIA Card Services, N.A., a subsidiary of Bank of America Corp.) was charged with violating a California law that requires credit-card lenders to make certain disclosures when offering convenience checks to their customers. TCH’s brief addresses the question of whether a California statute requiring disclosures in connection with bank offerings of convenience checks is preempted under the National Bank Act and an OCC regulation.