A federal judge in New York yesterday blocked the OCC from issuing charters to non-depository special-purpose national banks, as the agency first proposed to do in 2016.
Browsing: National Bank Act
The legal battle simmering in New York is the latest iteration of the pushmi-pullyu battle of wills in the dual banking system.
It appears as if the preemption national banks relied on since the early years of the Civil War is being diluted or, at the very least, significantly curtailed.
In honor of Abraham Lincoln’s 210th birthday on Feb. 12, join us for a bonus episode on Lincoln’s legacy on U.S. banking policy and regulation.
This week, ABA’s legal team provides a preview of key cases in the Supreme Court’s 2018-19 term and their significance for banks.
Lack of participation by federal agencies in preemption cases appears to have emboldened states.
The magnitude of Abraham Lincoln’s other accomplishments obscures his place as one of America’s most consequential bank policymakers.
Acting Comptroller of the Currency Keith Noreika today backed a legislative approach that would clarify which laws apply to interest rates on loans if the loans are resold.
Sen. Mark Warner (D-Va.) last week introduced an ABA-supported bipartisan bill clarifying that legally made bank loans may be resold and collected on by nonbank entities at the same interest rate.
The OCC today released its long-awaited draft licensing manual for fintech companies seeking the agency’s new limited-purpose national bank charters.