3.0.0 1996 2023-01-11T19:43:18Z 2023-01-11T19:43:18Z House H HR 2007-04-23 110 hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Referred to 2007-06-07T20:03:29Z Referred to 2007-04-23T16:31:00Z 2007-06-07 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Referred to the Subcommittee on Financial Institutions and Consumer Credit. Committee 2007-04-23 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2007-04-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-04-23 Introduced in House IntroReferral 1000 9 Library of Congress G000535 Rep. Gutierrez, Luis V. [D-IL-4] LUIS GUTIERREZ D IL V. 4 N P000583 Rep. Paul, Ron [R-TX-14] RON PAUL R TX 14 2007-04-23 True C000191 Rep. Carson, Julia [D-IN-7] JULIA CARSON D IN 7 2007-04-23 True C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2007-04-23 True L000551 Rep. Lee, Barbara [D-CA-9] BARBARA LEE D CA 9 2007-04-23 True Finance and Financial Sector Administrative remedies Affiliated corporations Bank deposits Bank examination Civil actions and liability Collection of accounts Commerce Congressional reporting requirements Consumer complaints Consumer credit Consumer protection Damages Department of the Treasury Federal preemption Federal-state relations Foreclosure Fraud Government Operations and Politics Government paperwork Government publicity Government statistics Governmental investigations Housing and Community Development Law Mortgage banks Mortgages Restrictive trade practices Savings and loan associations State laws Subsidiary corporations Finance and Financial Sector 00 2007-04-23 Introduced in House 2007-06-07T17:36:16Z Preservation of Federalism in Banking Act - Amends the Revised Statutes of the United States and the Home Owners' Loan Act to declare applicable to either a national bank or federal savings association any consumer protection in state consumer law of general application (including unfair or deceptive acts or practices, consumer fraud law and repossession, foreclosure, and collection).

Declares that when a national bank or federal savings association avails itself of state law for its benefit, all related consumer protections in such state law shall apply.

Declares applicable to a national bank or federal savings association: (1) state banking or thrift laws enacted pursuant to federal law; and (2) state laws providing greater protection in high cost mortgage loans (predatory mortgage loans).

Permits the Comptroller of the Currency to preempt state law only when a comparable federal statute or regulation pursuant to a federal statute, other than this Act, expressly governs the activity.

States that any federal law relating to visitorial powers or which otherwise limits or restricts the supervisory, examination, or regulatory authority to which a national bank or federal savings association is subject shall not be construed as restricting the authority of any chief state law enforcement officer to bring an action on behalf of state residents to enforce federal or state law, or to seek relief and recover damages for violations by a national bank or federal savings association.

Prescribes procedural guidelines requiring the Comptroller and the Director of the Office of Thrift Supervision to record and monitor consumer complaints regarding either a national bank or a federal savings association, respectively.

]]> Preservation of Federalism in Banking Act Official Title as Introduced To clarify the applicability of State law to national banks and Federal savings associations, and for other purposes. Introduced in House IH Display Title Preservation of Federalism in Banking Act Short Titles as Introduced Preservation of Federalism in Banking Act Introduced in House 2007-04-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr1996ih/xml/BILLS-110hr1996ih.xml 2007-06-07 Referred to the Subcommittee on Financial Institutions and Consumer Credit. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.