NEW YORK — A federal judge has ruled that federal and state banking law preempts a New York City law that requires banks to increase service to underserved people and small businesses.
On Aug. 7, U.S. District Judge Katherine Polk Failla issued a summary judgment for the plaintiffs in The New York Bankers Association v. The City of New York. The ruling was about Local Law 38, a 2012 law known as the Responsible Banking Act.
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