The state of Ohio suspects that Spartan Savings & Loan, a state banking association $($a regulated entity$),$ has been violating state anti$-$discrimination laws related to mortgage lending $$ denying loans to qualified applicants simply because of their race or sexual orientation. A whistle$-$blower alerted the bank regulator that this was occurring.

State banking regulators believe that evidence of this wrongdoing can be found in the official books and records of the bank. Bank regulators from the state of Ohio would like to inspect the national bank$$s records during normal business hours.

Which of the following statements is true:

Group of answer choices

The state of Ohio will not be allowed to inspect the bank$$s records for the purpose of investigating mortgage fraud since this is an exercise of the police power which the federal government not the state possesses.

The state of Ohio will only be able to inspect the bank$$s records if it has probable cause and can obtain a search warrant.

The state of Ohio will be able to inspect the bank$$s records without a search warrant as part of it normal duties as a bank regulator and it does so in a controlled manner.

The US Supreme Court will have to decide.