Agents, Banks Battle In W. Virginia

Four West Virginia statutes regulating bank insurance activities are preempted by the Gramm-Leach-Bliley Act, three banking associations contend.

In a brief filed with the 4th Circuit Court of Appeals, the groups say that the court should let stand a determination by the Office of the Comptroller of the Currency that the West Virginia statutes “prevent or significantly interfere” with federally granted bank insurance powers.

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