Derek Pereira v. Regions Bank

Under Florida law, a financial institution “may not settle any check drawn on it otherwise than at par.” Fla. Stat. § 655.85. 1 In Baptista v. JPMorgan Chase Bank, N.A., 640 F.3d 1194 (11th Cir.2011), we held that regulations promulgated by the Office of Comptroller of the Currency (the “OCC”) pursuant to the National Bank Act, 12 U.S.C. § 21 et seq., preempted Florida Statute § 655.85 with respect to national banks. Id. at 1198. Here, we consider whether federal law preempts § 655.85 with respect to out-of-state state banks. 2 We readily conclude that it does and therefore affirm.

I

The facts…