Alexandra Barrage, a partner in Troutman Pepper’s Corporate Practice Group, was quoted in the July 18, 2024 Banking Dive article, “Hsu Signals OCC to Review Preemption Rules.”

Hsu’s comments suggest the OCC’s preemption rules following Dodd-Frank can’t really be relied on anymore, said Alexandra Steinberg Barrage, a partner at law firm Troutman Pepper and former executive at the Federal Deposit Insurance Corp. “The OCC has now said, ‘We have some work to do there,’” she said.

Cantero has significant implications, both for how banks think about state consumer financial laws, and how they’ll now look at OCC preemption rules, which will potentially be revisited, Barrage said. “But it’s also important for states, because it’ll inform how states understand national bank preemption,” she added.