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Review of the National Bank Preemption Rules

Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 404

Book Description

Banking on Preemption

Author: Kirby Smith
Publisher:
ISBN:
Category :
Languages : en
Pages : 53

Book Description
The National Bank Act of 1864 allows national banks to charge an interest rate higher than the state's cap on interest under certain circumstances. Despite the fact that the Act was passed in 1864, questions about its effect remain unanswered. Notably, the question whether interest rates on national bank - originated debt become usurious when transferred remains unresolved. Historically, Supreme Court opinions have generally favored national banks, as the Court has deemed them “national favorites.” However, a recent decision in the Second Circuit calls into question whether deference continues after a national bank has sold its interest in the original loan. Applying transaction cost economics, this Comment ultimately argues that a court's decision on preemptive effect will not dissuade banks from selling these loans and allowing third-party purchasers to collect at the original interest rate. Of course, preventing a third party from inheriting the preemptive effect of the NBA will make selling loans more costly (that is, it will increase transaction costs) for the bank, but consumers will ultimately have to bear these costs in the form of either higher interest rates or reduced credit. As such, this Comment shows that allowing a third party to inherit preemption not only is supported by an analysis of existing preemption law and the common law but also benefits consumers.

Federal Preemption Issues in Banking

Author: Helga Niesz
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages :

Book Description
Discusses federal preemption issues in banking. Discusses areas in which the state can still legislate and where it is preempted by federal law.

Review of the National Bank Preemption Rules

Author: United States. Congress
Publisher: Createspace Independent Publishing Platform
ISBN: 9781985234482
Category :
Languages : en
Pages : 366

Book Description
Review of the national bank preemption rules : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Eighth Congress, second session, on the Office of the Comptroller of the Currency rulemakings pertaining to the applicability of state laws to national banks, April 7, 2004.

The Wealth Effects of OCC Preemption Announcements After the Passage of the Georgia Fair Lending Act

Author: Gary Whalen
Publisher:
ISBN:
Category : Bank loans
Languages : en
Pages : 56

Book Description
"Rapid growth in subprime lending over the past decade has led to rising concerns about abusive practices by subprime lenders. By early 2004, those concerns prompted Georgia and more than 30 other states to pass laws designed to eliminate abusive or predatory lending practices by the financial services firms, including those with federal charters, operating within their boundaries. In 2003, the OCC concluded that federal law preempts the provisions of the Georgia Fair Lending Act (GFLA) that would otherwise affect national banks' real estate lending. In early 2004, the OCC adopted a final rule providing that state laws that regulate the terms of credit are preempted. The OCC has asserted that the growing number of state anti-predatory lending laws impose substantial compliance costs on banks, especially smaller, multistate banking organizations that must spread them over smaller levels of output. If these arguments are correct, preemption should reduce expected costs, increase expected revenue, and boost expected bank profitability, especially for smaller banking firms with multistate operations. Opponents of preemption have argued that material preemption benefits for national banks imply a significant competitive disadvantage for state banks and could induce enough state bank charter conversions to endanger the dual banking system.

Review of the National Bank Preemption Rules

Banking on Preemption

Federal Preemption Issues in Banking

Review of the National Bank Preemption Rules

The Wealth Effects of OCC Preemption Announcements After the Passage of the Georgia Fair Lending Act

Federal Preemption Issues in Banking

Federal Preemption and Oversight in Banking

Federal Preemption Issues in Banking

Mobile Home Usury Preemptions

Federal Preemption of State Usury Ceilings