Judge bars Spitzer from probing national banks' lending practices

[Judi Lynn]

Judge bars Spitzer from probing national banks' lending practices

By LARRY NEUMEISTER
Associated Press Writer

October 12, 2005, 2:04 PM EDT

NEW YORK -- A federal judge Wednesday blocked Attorney General Eliot Spitzer from investigating national banks' lending practices, saying the probe is prohibited by federal law.

U.S. District Judge Sydney H. Stein ruled in favor of the Clearing House Association and the Office of the Comptroller of the Currency, an arm of the Treasury Department that oversees the banking system.

Spitzer had said his probe to see if minorities are being charged higher interest rates on home mortgage loans had already shown a "significant racial disparity that could violate state civil rights laws."

The judge said Spitzer cannot enforce state fair lending laws against national banks or their operating subsidiaries by issuing subpoenas and bringing enforcement actions against them.
(snip/...)

http://www.newsday.com/news/local/wire/newyork/ny-bc-ny--banks-spitzerlaws1012oct12,0,6829731.story?coll=ny-region-apnewyork

[Nicholas D Wolfwood]

1. The more I hear about Spitzer, the more I like.

Go get 'em buddy! Screw the judge, keep fighting!

[napi21]

2. OK, I don't understand. Why is he not allowed to investigate

the possible violation of STATE laws? I know the Comptroller of currence governs banks, but if they have complete authority, why are there State fair lending laws at all?

[alcibiades_mystery]

3. Bush's treasury department saving racist banks from accountability

There's a big fucking surprise....

[cantstandbush]

14. I wish someone would tell those idiots i saw with Jesse Peterson

on C-Span yesterday that this is the kind of racism they seem to be unaware of.

[Dogmudgeon]

4. That's the Extra-Large Economy Sized can of Whoop-Ass™, ain't it?

Joe Sixpack is about to learn that Banks are above the law -- all while looking for the Sports page.

Joe Sixpack isn't dumb by a longshot. But he's about to become a whole lot more riled up, and this time, his anger won't be artfully manipulated and directed toward dumbass non-issues.

--p!

[highplainsdem]

5. I'm glad he's going to appeal the ruling.

[jayfish]

6. So Maybe The State Should Just...

ban those "national banks or their operating subsidiaries" from doing business there. Of course that will never happen.

Jay

[sadiesworld]

7. And the WTO, behind closed doors, insures that federal laws

won't be enforced against multi-national corporations. Corporatism is us.

Ironically enough, South America may be our last, best opportunity to stop this madness.

[goforit]

8. Appeal it Spitz!!!

[Straight Shooter]

9. Please tell me Stein is a Republican.

:wtf:

[SoCalDem]

12. yep..who appointed him??

:)

[Straight Shooter]

13. *snort*

Lemme guess ...

[MADem]

10. Well, Spitz just needs to get himself a FEDERAL PROSECUTOR pal

to look into this shit. Or get a couple of victims to file a complaint.

Why is this shit still happening, in this day and age???? Equal housing, fair lending, damn, they are still just CUTE feel-good phrases.

[AX10]

11. Appeal the ruling and get a Federal Prosecutor.

The prosecutor can use their powers to investigate any wrong doings.