Federal Agency Interpretation

In compliance with Section 202(c) of the National Housing Act, this notice advises of the cause and description of administrative actions taken by HUD’s Mortgagee Review Board against HUD-approved mortgagees.

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 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.

The Office of the Comptroller of the Currency (OCC) is publishing its response to a written request for the OCC’s opinion of whether Federal law would preempt a Michigan statute, as interpreted by the Michigan Financial Institutions Bureau, that limits the ability of national banks to make loans to finance motor vehicle sales. The OCC has determined that the state law, as interpreted, would be preempted under Federal law.

The Office of the Comptroller of the Currency (OCC) is publishing for comment a written request for the OCC’s opinion about whether Federal law preempts certain provisions of the Financial Institutions Insurance Sales Act (FIISA), enacted by the State of Rhode Island in 1996. The purpose of this notice and request for comment is to provide interested persons with an opportunity to submit comments prior to the OCC’s issuance of a written opinion in this matter.

The Office of the Comptroller of the Currency (OCC) is publishing for comment a written request for the OCC’s opinion about whether Federal law preempts certain provisions of the Massachusetts bank insurance sales statute and regulations promulgated pursuant to that statute by the Division of Banks and the Division of Insurance. This Notice refers to the statute and regulations collectively as the Massachusetts Law.

The Office of the Comptroller of the Currency (OCC) is publishing for comment a written request for the OCC’s determination of whether Federal law preempts certain provisions of the West Virginia Insurance Sales Consumer Protection Act (West Virginia Law). The purpose of this notice and request for comment is to provide interested persons with an opportunity to submit comments prior to the OCC’s issuance of any final opinion in this matter.

The FDIC’s Legal Division has received a request for guidance regarding the types of charges that constitute ‘‘interest’’ for purposes of section 27 of the Federal Deposit Insurance Act. This General Counsel’s Opinion is being provided for the benefit of the public, as well as institutions subject to section 27, because the statute speaks only in terms of ‘‘interest’’ but does not define the term.

This is a 2011 letter from the FTC Chair to a Congressman concerning the enforcement of the Credit Repair Organizations Act (CROA) and its impact on legitimate credit repair organizations. The letter discusses the advance fee ban in detail and finds partial payments for intermediate steps to be an evasion of the advance fee prohibition.

The FTC  policy statement provides guidance regarding its enforcement of various statutes and FTC regulations addressing negative option marketing and operating.