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 Briefs, Reports & Press Releases
- Press release: Supreme Court Decision (Michigan v Bay Mills Indian Community) Strikes Blow against Tribal Online Payday Lenders, May 29, 2014
- 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
- Consumer Groups' Letter to Senate Opposing S. 1208 (Tester) -- bill not protecting consumers in rent-to-own transactions, May 26, 2014
- 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 re: Evaluating Charter Applications From Financial Technology Companies, April 14, 2017
- Comments to OCC opposing new fintech lending charter that would preemption state interest rates and other laws, Nov. 14, 2016
- Consumer comments to FDIC opposing rent-a-bank arrangements., Oct. 27, 2016
- Consumer comments to OCC on supporting responsible financial innovation (May 31, 2016): Full comments. Comments only. Exhibits only.
- Comments to OCC in connection with 10 year review of regulations under Economic Growth and Regulatory Paperwork Reduction Act, Sept. 2, 2014.
- Comments On Electronic Fund Transfers Intent To Make Determination of Effect on State Laws (Maine and Tennessee) (Gift Card Expiration Dates and Escheat Law), October 22, 2012
- 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 on OCC Interim Final Rule on preemption of state laws applied to federal savings associations that act as a fiduciary (including as a trustee, executor, administrator or guardian), Oct. 11, 2011
- Comments regarding Interstate Banking; Federal Interest Rate Authority: Proposed Rulemaking Federal Deposit Insurance Corporation, 2005
- 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