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Author: United States Government Accountability Office
Publisher: Createspace Independent Publishing Platform
ISBN: 9781976364570
Category :
Languages : en
Pages : 94
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Book Description
In January 2004, the Office of the Comptroller of the Currency (OCC)-the federal supervisor of federally chartered or "national" banks-issued two final rules referred to jointly as the preemption rules. The "bank activities" rule addressed the applicability of state laws to national banking activities, while the "visitorial powers" rule set forth OCC's view of its authority to inspect, examine, supervise, and regulate national banks and their operating subsidiaries. The rules raised concerns among some state officials and consumer advocates. GAO examined (1) how the rules clarify the applicability of state laws to national banks, (2) how the rules have affected state-level consumer protection efforts, (3) the rules' potential effects on banks' choices of a federal or state charter, and (4) measures that could address states' concerns regarding consumer protection.
Author: United States Government Accountability Office
Publisher: Createspace Independent Publishing Platform
ISBN: 9781976364570
Category :
Languages : en
Pages : 94
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Book Description
In January 2004, the Office of the Comptroller of the Currency (OCC)-the federal supervisor of federally chartered or "national" banks-issued two final rules referred to jointly as the preemption rules. The "bank activities" rule addressed the applicability of state laws to national banking activities, while the "visitorial powers" rule set forth OCC's view of its authority to inspect, examine, supervise, and regulate national banks and their operating subsidiaries. The rules raised concerns among some state officials and consumer advocates. GAO examined (1) how the rules clarify the applicability of state laws to national banks, (2) how the rules have affected state-level consumer protection efforts, (3) the rules' potential effects on banks' choices of a federal or state charter, and (4) measures that could address states' concerns regarding consumer protection.
Author: United States. Government Accountability Office
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 88
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Book Description
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 428
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Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 368
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Book Description
Author: United States Government Accountability Office
Publisher: Createspace Independent Publishing Platform
ISBN: 9781984929174
Category :
Languages : en
Pages : 94
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Book Description
GAO-06-387 OCC Preemption Rules: OCC Should Further Clarify the Applicability of State Consumer Protection Laws to National Banks
Author: Gary Whalen
Publisher:
ISBN:
Category : Bank loans
Languages : en
Pages : 56
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Book Description
"Rapid growth in subprime lending over the past decade has led to rising concerns about abusive practices by subprime lenders. By early 2004, those concerns prompted Georgia and more than 30 other states to pass laws designed to eliminate abusive or predatory lending practices by the financial services firms, including those with federal charters, operating within their boundaries. In 2003, the OCC concluded that federal law preempts the provisions of the Georgia Fair Lending Act (GFLA) that would otherwise affect national banks' real estate lending. In early 2004, the OCC adopted a final rule providing that state laws that regulate the terms of credit are preempted. The OCC has asserted that the growing number of state anti-predatory lending laws impose substantial compliance costs on banks, especially smaller, multistate banking organizations that must spread them over smaller levels of output. If these arguments are correct, preemption should reduce expected costs, increase expected revenue, and boost expected bank profitability, especially for smaller banking firms with multistate operations. Opponents of preemption have argued that material preemption benefits for national banks imply a significant competitive disadvantage for state banks and could induce enough state bank charter conversions to endanger the dual banking system.
Author: United States. Office of the Comptroller of the Currency. Multinational Banking Division
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 216
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Author: United States. Federal Trade Commission. Bureau of Consumer Protection
Publisher:
ISBN:
Category : Consumer credit
Languages : en
Pages : 608
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Book Description
Author: Financial Crisis Inquiry Commission
Publisher: Cosimo, Inc.
ISBN: 1616405414
Category : Political Science
Languages : en
Pages : 692
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Book Description
The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Author: Robert L. Tortoriello
Publisher:
ISBN:
Category : Bank holding companies
Languages : en
Pages :
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Book Description
