Supreme Court Unanimously Vacates and Remands Cantero v. Bank of America Decision (22-529) by Kavanaugh

May 30, 2024, 02:03 PM

The Supreme Court issued a unanimous decision in Cantero v. Bank of America, N. A. (22-529), authored by Justice Brett Kavanaugh on May 30, 2024. The Court vacated and remanded the Second Circuit's decision, which had failed to properly analyze whether a New York State banking regulation concerning interest-on-escrow is preempted by the Dodd-Frank Act. The case will return to the Second Circuit for further analysis in accordance with the Supreme Court's direction.