SCOTUS Holds that National Banks Located in State of Main Office for Diversity Purposes

The Supreme Court issued a decision in Wachovia Bank v. Schmidt, No. 04-1186, in which it held that a national bank is a citizen of the state in which its main office is located, for purposes of federal diversity jurisdiction under 28 U.S.C. 1348, not of every state in which it maintains a business establishment.

The text of the opinion can be accessed by visiting Cornell's LII website by clicking here.