OCC finalizes rules citing federal preemption of state interest-on-escrow laws
The OCC finalized two rules to clarify that national banks are exempt from state laws regulating real estate escrow accounts. ...
Tag: National bank preemption
Seventh Circuit sends Illinois interchange litigation back to district court
ABA and other financial trade groups welcomed the opportunity to resume their legal challenge to IFPA in district court, arguing ...
Appeals court rules New York interest-on-escrow law preempted by federal law
A federal appeals court ruled that New York State’s interest-on-escrow law is preempted by the National Bank Act, with the ...
Colorado legislature sends state-level interchange bill to governor
The Colorado bill is similar to the Illinois Interchange Fee Prohibition Act, or IFPA, which bans banks, payment networks and ...
Bill to restrict interchange fees clears Colorado Senate
The Colorado Senate narrowly passed legislation to prohibit the collection of interchange fees for sales taxes, with the bill modeled ...
OCC issues two interim final actions related to IFPA preemption
The OCC’s interim final order confirms that federal law preempts the IFPA, expressly providing that national banks and federal savings ...
ABA: Illinois interchange law will ‘wreak havoc’ on payment systems
If enforcement of an Illinois law restricting interchange fees is not prevented before July 1, it will upend the debit- ...
National bank preemption and the integrity of the U.S. payments system
At stake is more than a single fee. It is the continued integrity of a national banking system that supports ...
OCC, former comptrollers urge court to overturn Illinois interchange ruling
An Illinois state law restricting interchange fees for certain payments threatens the national banking system by interfering with federal powers ...
Lawmakers consider potential changes to data privacy law
ABA urged Congress to apply the same privacy and securities standards for banks to other industries, and to make sure ...
