OCC Boosts States In New Banking Law Preemption Rule

Law360, New York (July 20, 2011, 10:05 PM EDT) -- In light of opposition from state attorneys general, the Office of the Comptroller of the Currency on Wednesday issued a final rule implementing banking regulations from last year's financial reform law that includes revisions on state law preemption.

The rule, which implements revisions to the banking laws under the Dodd-Frank Wall Street Reform and Consumer Protection Act, removes language from OCC rules that said state laws that obstruct, impair or condition a national bank's powers are preempted and recognizes the ability of state attorneys general to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.