Author: M. Maureen Murphy
On June 21, 2012, in Parks v. MBNA America Bank, N.A. (Parks), the California Supreme Court found a California law preempted by the National Bank Act and, therefore, inapplicable to national banks. How the California Supreme Court and the lower appellate court dealt with the issues may be a preview of two distinct modes of analysis that the courts are likely to employ in determining whether to declare a state consumer financial law preempted under the statutory standard in 12 U.S.C. ?? 25b and 1465, as enacted in 2010 by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).