In the case of Planters' Bank v. Union Bank, the Supreme Court was asked to decide whether a state court could issue an injunction against a national bank in order to prevent it from collecting on its debt. The plaintiff, Planters' Bank, had loaned money to Union Bank and sought payment through legal action when their debtor failed to pay back the loan. However, Union Bank argued that since they were a federally chartered institution, only federal courts had jurisdiction over them and thus any injunction issued by state courts would be invalid. In ruling for Planters' Bank, the Supreme Court held that while certain aspects of banking are regulated by Congress under federal law, this does not mean that states have no authority over banks operating within their borders; rather they can still exercise control over such institutions as long as it is done in accordance with due process rights guaranteed by both state and federal constitutions. This decision established precedent which has been used ever since in cases involving disputes between national banks and other entities or individuals seeking relief from them through injunctions issued by state courts.

In the case of Planters' Bank v. Union Bank, the dissenting opinion was that a state court should not be able to issue an injunction against another state's bank in order to collect on a debt. The majority opinion held that such injunctions were permissible under certain circumstances, but Justice Field argued this would lead to chaos and confusion between states as each one could potentially interfere with the other's banking operations. He believed it violated principles of comity between states and undermined their sovereignty over their own financial institutions. Furthermore, he argued that if Congress had intended for such actions to be allowed they would have included language allowing them in federal law or treaties among states; since no such provisions existed then it was up to each individual state legislature alone whether or not they wanted these types of injunctions issued within its borders.