Skip to content

SPGGC, LLP; Metabank; U.S. Bank, N.A. v. Kelly A. Ayotte

Case URL: 

The U. S. Court of Appeals for the First Circuit upheld an opinion of the U.S. District Court for the District of New Hampshire that the National Bank Act and the Home Owners Loan Act, and regulations issued under them, preempt a provision of the New Hampshire Consumer Protection Act to the extent that it attempted to regulate the issuance of gift cards by national banks and federal savings associations.

The court cited the Supreme Court's opinion in Watters v. Wachovia Bank, N.A. (below) in its discussion of the case. The gift cards issued in this case were issued by SPGGC, LLP (which operates Simons malls) as agent for U.S. Bank, N.A. and Metabank, under agreements with terms substantially different from those in an earlier agreement for gift card issuance involving Bank of America. On May 30, 2007, the court affirmed the decisions of the district court.

Penalties View All

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Courtwatch