The Supreme Court says state attorneys general can't issue their own subpoenas in investigations against national banks. However, the high court in a decision on Monday said that an attorney general can get a court to issue subpoenas in an investigation into those financial institutions.
The state of New York wanted the Supreme Court to overturn a federal appeals court decision that blocks states from investigating the lending practices of national banks with branches within its borders. It was supported by the other 49 states.
