Franklin Nat. Bank of Franklin Square v. New York

Opinion of the Court by

Mr. Justice Jackson, announced by Mr. Justice Frankfurter.

This appeal from the Court of Appeals of New York presents the narrow question whether federal statutes which authorize national banks to receive savings deposits conflict with New York legislation which prohibits them from using the word “saving” or “savings” in their advertising or business. We think the federal and state statutes are incompatible, and in such circumstances the policy of the State must yield.

It is the policy of New York to charter and foster the mutual savings bank, a nonprofit institution…