New York State Bankers Ass'n v. Albright

Chief Judge Breitel.

In this action representative commercial banks seek declaratory and injunctive relief against competing representative savings banks and the Superintendent of Banks. Plaintiff commercial banks challenge the legality under the State Banking Law of the so-called "NOW” (Negotiable Order of Withdrawal) account, a form of checking *434account service offered by many savings banks under regulations of defendant Superintendent of Banks. Upon an agreed statement of facts submitted directly to the Appellate Division (CPLR 3222), judgment was unanimously rendered in favor of the…