States can investigate nationally chartered banks - San Francisco Business Times:

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The case, Cuomo vs. Clearing House stems from a New York state investigation that sought informatiom from national banks about potentiaol discriminatory banking practices that violated NewYork law. The federak banking regulator, the Office of the Comptroller of the objected to the requests by New Yorkstates officials, eventually siding with a suit broughrt by LLC, which argued that the statde had no jurisdiction. The investigation was startedf in 2005by then-Ne w York Attorney General Elliot and it was continued by current New York Attornet General Andrew Cuomo.
They both argued that the fact a bank is regulatedx by the federal governmenrt does not give it immunity from violatingtstate laws. Consumer groups supported Cuomo’ss position because state officials tend to be more active indefendintg consumers. Banking groups are not pleased. “We are worried about the effect that this rulinf could have onthe markets,” said Rich executive director of the Financial Services adding that the decision could create a patchwork of statw laws at the cost of the efficiencies of the national “Cuomo vs.
Clearing House Association hinders the abilit y of financial services firms from conducting business in theUnitede States” Whiting said. “Even worse, it will caus confusion for consumers, especially those who move from stat eto state.”