{"argument_date":"2006-11-29T00:00:00Z","arguments":[{"argument_date":"2006-11-29T00:00:00Z","heading":"What happened at the argument","official_detail_url":"https://www.supremecourt.gov/oral_arguments/argument_transcript/2006","official_transcript_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","paragraphs":["Mr. Blanchard argued the dual banking system exemplifies cooperative federalism.","Mr. Srinivasan asserted the issue involves conflict preemption, not field preemption.","Mr. Long stated that undisputed principles help focus the legal issue before the Court."],"reargument":false,"sequence":1,"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 25, lines 21-7","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 25, lines 21-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-49","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 3, lines 17-49"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 51-5","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 3, lines 51-5"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 7-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 3, lines 7-15"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 15-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 4, lines 15-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 31-41","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 4, lines 31-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 51-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 4, lines 51-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 42, lines 5-45","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 42, lines 5-45"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 39-41","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 5, lines 39-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 51-5","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 5, lines 51-5"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 6, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 43-45","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 6, lines 43-45"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 49-7","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 6, lines 49-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 11-11","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 7, lines 11-11"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 15-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 7, lines 15-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 35-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 7, lines 35-39"}]}],"caption":"Watters v. Wachovia Bank, N. A.","case_history":[{"changed_at":"2026-08-29T20:06:28.136617Z","explanation":"An official oral-argument transcript was verified.","status":"argued"}],"case_status":"argued","dek":"the sides that brought the case argue state law applies to the subsidiary. the opposing sides claim federal law preempts state regulation.","dek_sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 25, lines 21-7","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 25, lines 21-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-49","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 3, lines 17-49"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 42, lines 5-45","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 42, lines 5-45"}],"dispositions":[],"latest_court_document_date":"2006-11-29T00:00:00Z","maturity":"official_transcript","official_detail_url":"https://www.supremecourt.gov/oral_arguments/argument_transcript/2006","official_disposition_urls":[],"official_docket_url":"https://www.supremecourt.gov/docket/docketfiles/html/public/05-1342.html","primary_docket":"05-1342","revisions":[{"correction_note":"Rewritten to the concise citizen-facing editorial standard.","created_at":"2026-08-31T12:55:38.658529Z","maturity":"official_transcript","revision_number":1},{"correction_note":"Migrated to the dated official Court activity contract without model use.","created_at":"2026-09-05T03:22:24Z","maturity":"official_transcript","revision_number":2}],"schema_version":"1.1","sections":[{"heading":"What this case is about","paragraphs":["This case tests the scope of federal preemption over state banking laws."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 25, lines 21-7","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 25, lines 21-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-49","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 3, lines 17-49"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 42, lines 5-45","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 42, lines 5-45"}]},{"heading":"How the case got here","paragraphs":["The Supreme Court heard oral argument in this case on November 29, 2006."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 7-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 3, lines 7-15"}]},{"heading":"What each side wants","paragraphs":["the sides that brought the case want state law to apply to the mortgage subsidiary.","the opposing sides want federal law to preempt state regulation of the subsidiary."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 25, lines 21-7","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 25, lines 21-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-49","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 3, lines 17-49"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 42, lines 5-45","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 42, lines 5-45"}]},{"heading":"What each side says","paragraphs":["the sides that brought the case argue the dual banking system supports state regulatory authority.","the opposing sides argue conflict preemption bars state regulation of the subsidiary."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 25, lines 21-7","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 25, lines 21-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-49","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 3, lines 17-49"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 42, lines 5-45","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 42, lines 5-45"}]},{"heading":"What the justices asked","paragraphs":["Why did the bank create a subsidiary instead of operating directly?","Does the parent bank need visibility into the subsidiary's activities to protect itself from liability?"],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 51-5","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 3, lines 51-5"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 15-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 4, lines 15-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 31-41","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 4, lines 31-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 51-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 4, lines 51-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 39-41","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 5, lines 39-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 51-5","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 5, lines 51-5"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 6, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 43-45","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 6, lines 43-45"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 49-7","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 6, lines 49-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 11-11","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 7, lines 11-11"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 15-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 7, lines 15-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 35-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 7, lines 35-39"}]},{"heading":"Why it matters","paragraphs":["The outcome defines the boundary between state and federal banking regulation. It determines whether states can inspect and limit mortgage operations of national bank subsidiaries. This affects consumer protection and the structure of the national banking system."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 25, lines 21-7","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 25, lines 21-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-49","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 3, lines 17-49"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 42, lines 5-45","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 42, lines 5-45"}]},{"heading":"What happens next","paragraphs":["This article currently covers the argument record. Use the official docket link for later case activity."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 51-5","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 3, lines 51-5"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 7-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 3, lines 7-15"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 15-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 4, lines 15-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 31-41","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 4, lines 31-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 51-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 4, lines 51-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 39-41","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 5, lines 39-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 51-5","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 5, lines 51-5"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 6, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 43-45","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 6, lines 43-45"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 49-7","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 6, lines 49-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 11-11","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 7, lines 11-11"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 15-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 7, lines 15-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 35-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 7, lines 35-39"}]}],"slug":"2006-05-1342-watters-v-wachovia-bank-n-a","term":"2006","title":"Can states regulate a national bank's mortgage subsidiary?","title_sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 25, lines 21-7","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 25, lines 21-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-49","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 3, lines 17-49"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 42, lines 5-45","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2006/05-1342.pdf","page_label":"file page 42, lines 5-45"}],"topics":[],"undated_disposition_date_fallback":null,"updated_at":"2026-09-05T03:22:24Z"}