Legal Opinion
Johnson v. Bank of Bentonville
District Court, W.D. Arkansas
Decided November 21, 2000No. CIV.00-3026PublishedCited by 1 opinion
1Opinion of the Court
MEMORANDUM OPINION
WATERS, District Judge.
This case is before the court for decision on cross-motions for summary judgment. The legal question to be determined is whether Congress exceeded the legislative authority given it by the Commerce Clause when it enacted § 731 of the Gramm-Leach-Bliley Financial Modernization Act of 1999, Pub.L. No. 106-102, codified at 12 U.S.C. § 1831u. Section 731 allows instate banks, that is, banks chartered in Arkansas, to charge the same rate as any out-of-state bank that has a branch in the state.
The effect of this is to override the maximum lawful rate of…
2Cases cited16 opinions
- United States v. LopezSupreme Court of the United States · 1995
- City of New York v. Federal Communications CommissionSupreme Court of the United States · 1988
- Marquette National Bank of Minneapolis v. First of Omaha Service Corp.Supreme Court of the United States · 1978
- First Nat. Bank of Logan v. Walker Bank & Trust Co.Supreme Court of the United States · 1966
- Nelson v. River Valley Bank & TrustSupreme Court of Arkansas · 1998
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