Posted on October 10, 2008 by Daniel O'Rielly

One to Watch: U.S. Supreme Court to Address Preemption

The Supreme Court heard opening day oral arguments in a preemption case that could have far-reaching effects for financial institutions.  The case, involving a suit against tobacco company Altria, presents the question whether state law challenges to FTC-authorized statements in advertising are expressly or impliedly preempted by federal law.  The Court's opinion could significantly impact the preemption landscape generally, including the balance between state and federal consumer protection statutes.

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