This Supreme Court case involved the Bank of the United States and George B. Martin, a defendant in error. The bank had sued Martin for failing to pay back a loan he had taken out from them. In his defense, Martin argued that the bank was not legally authorized to issue loans or collect debts due to its lack of congressional chartering authority at the time it issued him his loan. The court ultimately sided with Martin on this point, ruling that since Congress did not have an act authorizing such activities by banks without charters at the time of issuing this particular loan, then it was invalid and unenforceable under law. This decision set an important precedent regarding banking regulations in America as it established that any institution wishing to lend money must first be granted authorization by Congress before doing so; otherwise their contracts are considered void and unenforceable in court proceedings.

In the case of The Bank of the United States vs. George B. Martin, Justice McLean delivered a dissenting opinion in which he argued that Congress did not have authority to incorporate a bank under Article I, Section 8 of the Constitution and that it was unconstitutional for them to do so. He further stated that if Congress had such power then they could create any type of corporation with similar powers as those granted by chartering banks, thus allowing them to exercise unlimited control over commerce and industry without limitation or restriction from other branches of government. Furthermore, he argued that even if there was an implied power within Article I, Section 8 granting Congress this authority it would still be unconstitutional because such an act would violate state sovereignty since states are prohibited from creating corporations with banking privileges unless authorized by their own legislatures. In conclusion Justice McLean believed that while incorporation may be beneficial in some cases it should not come at the expense of violating constitutional principles or infringing upon state rights and therefore must remain outside Congressional purview until specifically provided for in law or amendment form.