Real Estate Law - Top Cases
5/22/2008 2:55:25 PM EST
Watters v. Wachovia Bank, N.A., 550 U.S. 1 (U.S. 2007)
Provisions of Michigan mortgage lending statutes were preempted by the National Bank Act and did not apply to an operating subsidiary of a national bank; pursuant to 12 U.S.C.S. §§ 24, Seventh, 24a(g)(3)(A), 484(A), and 371(a), the bank was authorized to engage in real estate lending through the subsidiary without significant state law impairment.
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