The district court entered judgment in favor of the defendants holding that the National Bank Act (NBA) [12 U.S.C. 85] preempts plaintiff’s claims. The Second Circuit reversed that decision because defendants are not national banks nor are they subsidiaries or agents of a national bank or are otherwise acting on behalf of a national bank, and because application of state law on which the plaintiff’s claims rely would not significantly interfere with any national bank’s ability to exercise its power under the NBA.
Accordingly, the court vacated the judgment and remanded to the district court to address choice-of-law issues and vacated the district court’s denial of class certification.
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