A big win for US consumer and civil rights groups against JPMorgan Chase & Co. , Wells Fargo & Co and American Bankers Association
Special Correspondent
Jun. 29, 2009

The current New York attorney general, Andrew Cuomo now gets the authority to investigate and enforce the fair-lending laws against federally chartered banks including JPMorgan Chase & Co. and Wells Fargo & Co., the U.S. Supreme Court ruled.

The ruling is largely a victory for consumer and civil rights groups in America against questionable practices by major banks. “We’re disappointed that the Supreme Court has decided to question the OCC’s role as the exclusive regulator for national banks,” the president and chief executive officer of the American Bankers Association, said in a statement.

New York attorney general, Andrew Cuomo is happy on th ruling and said ‘…it reaffirms the vital role state attorneys general play in protecting consumers from illegal and improper practices by our country’s biggest and most powerful banks.’

A big win for US consumer and civil rights groups against JPMorgan Chase & Co. , Wells Fargo & Co and American Bankers Association
Special Correspondent
New York attorney general, Andrew Cuomo is happy on th ruling and said ‘…it reaffirms the vital role state attorneys general play in protecting consumers from illegal and improper practices by our country’s biggest and most powerful banks.’
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