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Association of Banks Files Suit Against Spitzer

June 17, 2005|From Associated Press

An association of leading commercial banks sued New York Atty. Gen. Eliot Spitzer, saying his probe into the lending practices of national banks violated laws ensuring banks are not subject to supervision by state authorities.

The lawsuit in U.S. District Court in Manhattan asked the court to block Spitzer from demanding information to enforce federal and state discrimination-in-lending laws against banks belonging to the Clearing House Assn.

Spitzer has been questioning some of the nation's biggest banks in a probe of potential discriminatory practices in setting mortgage rates and fees.

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