Media for Cuomo v. Clearing House Assn., L. L. C.Audio Transcription for Oral Argument - April 28, 2009 in Cuomo v. Clearing House Assn., L. L. C.
Audio Transcription for Opinion Announcement - June 29, 2009 in Cuomo v. Clearing House Assn., L. L. C.
In sum, the Comptroller was not unreasonable in interpreting the National Bank Act's prohibition on state exercise of visitorial powers to include “conducting examinations and inspecting or requiring the production of books or records of national banks”.
But exceeded the balance of reasonable interpretation by prohibiting the States from “prosecuting enforcement actions” against national banks.
We therefore uphold the injunction as applied to the New York Attorney General's threatened issuance of an executive subpoena but vacate its application to the bringing of judicial enforcement actions.
The judgment of the Court of Appeals is affirmed in part and reversed in part.
Justice Thomas has filed an opinion concurring in part and dissenting in part in which the Chief Justice, Justice Kennedy and Justice Alito have joined.