Consumer Credit Regulation: 3.5.2.3.3 State’s right to opt out applies to loans “made” in the opt-out state
As explained above, DIDA allows state-chartered depositories to charge, anywhere in the country, the rate allowed by the laws of the state where the institution is located, notwithstanding the laws of other states, which are preempted.419 However, a state can opt out of rate exportation by state-chartered depositories and eliminate preemption for loans “made” in that state.420