The Board of Governors of the Federal Reserve System (‘‘Board’’) is issuing this notice of its intention to continue to enforce certain regulations previously issued by the Office of Thrift Supervision (‘‘OTS’’) after assuming supervisory responsibility for savings and loan holding companies (‘‘SLHCs’’) and their non-depository subsidiaries from the OTS in July 2011.
Federal Preemption and Credit Regulation
Withdrawn by 90 Fed. Reg. 20,084 (May 12, 2025).
The FDIC received a petition for rulemaking to preempt certain state laws with the stated purpose of establishing parity between national banks and state-chartered banks in interstate activities and operations. The petition also requested rulemaking to implement the interest rate authority contained in the Federal Deposit Insurance Act.
The Office of the Comptroller of the Currency (OCC) is publishing its final rule amending its visitorial powers regulation in order to clarify issues that have arisen in connection with the scope of the OCC’s visitorial powers.
The Office of the Comptroller of the Currency (OCC) proposes to amend parts 7 and 34 of our regulations to add provisions clarifying the applicability of state law to national banks. These provisions would identify types of state laws that are preempted, as well as types of state laws that generally are not preempted, in the context of national bank lending, deposit-taking, and other authorized activities.
The Office of the Comptroller of the Currency (OCC) is issuing this Determination and Order, attached as an appendix to this Notice, in response to a request from National City Bank, National City Bank of Indiana, and their operating subsidiaries, National City Mortgage Company and First Franklin Financial Company (referred to collectively herein as National City). The request asks the OCC to determine whether the Georgia Fair Lending Act (GFLA)[1] applies to the banks and their operating subsidiaries, and to issue an appropriate order.
The Alternative Mortgage Transaction Parity Act (AMTPA) authorizes state chartered housing creditors to make, purchase, and enforce alternative mortgage transactions without regard to any state constitution, law, or regulation. To rely on AMTPA, certain state chartered housing creditors must comply with regulations on alternative mortgage transactions issued by the Office of Thrift Supervision (OTS). In today’s rulemaking, OTS revises its rules identifying the OTS regulations that apply under AMTPA.
The Office of the Comptroller of the Currency (OCC) is publishing its response to a written request for the OCC’s opinion on whether Federal law preempts certain provisions of the Massachusetts Consumer Protection Act Relative to the Sale of Insurance by Banks and regulations promulgated pursuant to that statute (the Massachusetts Law). The OCC has determined that Federal law preempts the provisions at issue.
This final rule amends the FDIC’s regulations covering filing procedures and delegations of authority, to clarify the meaning of the phrase ‘‘engaged in the business of receiving deposits other than trust funds’’ in the Federal Deposit Insurance Act. Under the rule, an insured depository institution must maintain one or more non-trust deposit accounts in the aggregate amount of $500,000 in order to be ‘‘engaged in the business of receiving deposits other than trust funds’’.