Alex Cantero, et al., Individually and on Behalf of All Others Similarly Situated, Petitioners v. Bank of America, N.A.

This case asks whether the National Bank Act blocks New York from requiring national banks to pay interest on money kept in mortgage-escrow accounts. The Supreme Court earlier sent the dispute back after saying the Second Circuit used too broad a test, and the case is now back at the petition stage after that court again said New York's law is overridden by federal law.

The case is still at the petition stage, and no oral argument is scheduled. The key test is whether New York's law "prevents or significantly interferes with" a national banking power.

The answer could affect homeowners whose monthly mortgage payments include escrow money for taxes and insurance. If state interest rules apply, some borrowers could earn interest on those funds; if not, national banks may not have to pay it.

It asks whether federal banking law blocks New York from requiring interest on mortgage-escrow accounts at national banks. The key test is whether the state rule significantly interferes with a national banking power.

Homeowners with mortgage-escrow accounts could gain or lose interest payments on money set aside for taxes and insurance. National banks also could face different compliance costs.

The justices first must decide whether to grant certiorari (hear the case). No oral argument is scheduled yet, and no decision timeline is available.