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Preemption
In the last several years, banks have been able to ignore state consumer protection laws because those laws have been “preempted” – wiped out – by federal bank regulations and court interpretations of federal laws. Broad preemption of state law is a recent phenomenon. For most of the 150 years since national banks were created, they were expected to comply with state law. Preemption has harmed states’ ability to respond to financial abuses in both the banking and the non-bank world. NCLC works to restore the states’ role as “first responders” to consumer abuses.
Policy Analysis
Policy Briefs, Reports & Press Releases
- Banking Regulator Favors Banks Over Consumers, July 20, 2011
- Issue Brief: OCC Ignores Dodd-Frank Act's Repeal of 2004 Preemption Regulations, May 2011
- Press Release Criticizing Proposed OCC Preemption Rules, May 26, 2011
- Issue Brief: The Role of the States under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Dec. 2010
- Restore the States’ Traditional Role as "First Responder", White Paper and Press Release, 2009
- Statement: State on Cuomo v. Clearing House Supreme Court Fair Lending Preemption Decision, 2009
Letters
- Consumer Groups' Letter to Senate Opposing S. 881 (Landrieu) ‐‐ Unfair To Rent‐to‐Own Consumers, August 2011
- Consumer Groups' Letter to the House Opposing HR 1588 (Canseco) ‐‐ Unfair To Rent‐to‐Own Consumers, August 2011
- Letter to Obama Requesting Amendment of Preemption Executive Order, 2008
Comments
- Comments on the Consumer Financial Protection Bureau's Interim Final Rule on the preemption rules under the Alternative Mortgage Transaction Parity Act, September 22, 2011
- NCLC Comments on OCC Preemption Proposal, June 27, 2011
- Comments regarding Interstate Banking; Federal Interest Rate Authority: Proposed Rulemaking Federal Deposit Insurance Corporation, 2005
Testimony
- Testimony of Margot F. Saunders before Subcommittee of the House Committee on Financial Services: Examining Rental Purchase Agreements and the Potential Role for Federal Regulation, July 26, 2011