Press Coverage June 10, 2026

Fintech Lobbyist Says Tennessee Remittance Tax Is Unconstitutional

Related professionals

Keith J. Barnett Carlin A. McCrory

Keith J. Barnett, a partner, and Carlin A. McCrory, an associate, both in Troutman Pepper Locke’s Consumer Financial Services Practice Group, were quoted in the June 10, 2026, American Banker article, “Fintech Lobbyist Says Tennessee Remittance Tax Is Unconstitutional.”

  • Historically, courts have upheld the federal government’s ability to regulate foreign commerce, Keith Barnett, a partner at Troutman Pepper Locke, told American Banker.
  • “The rule [says] anything that affects interstate commerce, either directly or indirectly, is within the exclusive domain of Congress,” Barnett said. “Courts have construed the commerce clause very broadly in favor of that being in the federal government’s exclusive domain, and that’s what this complaint is leaning into.”
  • …
  • There is precedent for the FTA’s challenge to the tax. In 1994, a Massachusetts state tax levied on milk products was struck down by the Supreme Court because it discriminated against non-Massachusetts citizens and businesses, according to the Cornell Law School Legal Information Institute. The results could also have broader implications for other states looking to enact similar laws, said Carlin McCrory, an associate at Troutman Pepper Locke.
  • “I assume the FTA wants to take this stance because it also doesn’t want other states to start doing the same thing, and then we have this hodgepodge of state legislation, ” McCrory told American Banker.
Insight Industries + Practices

This just in

See all insights

Speaking Engagements

Penalty Shootout: Rising Stars Go Head-to-Head

June 24, 2026  |  4:20 PM – 4:50 PM ET
Hyatt Centric Wall Street
New York, NY

Sponsored Events

IMN’s Summer Real Estate Private Funds

June 24 – 26, 2026
Newport Harbor Island Resort
Newport, RI

Speaking Engagements

2026 National Hydropower Association (NHA) California Regional Meeting

June 24 – 26, 2026
The Westin San Diego Bayview
1051 Columbia Street, San Diego, CA 92101

Speaking Engagements

Human Trafficking in Employment: At-Risk Populations, Red Flags, Legal Protections, Employer Accountability

June 24, 2026  |  1:00 PM – 2:30 PM ET

See all insights