[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1306 Engrossed in House (EH)]


  1st Session

                               H. R. 1306

_______________________________________________________________________

                                 AN ACT

To amend the Federal Deposit Insurance Act to clarify the applicability 
of host State laws to any branch in such State of an out-of-State bank.
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
105th CONGRESS
  1st Session
                                H. R. 1306

_______________________________________________________________________

                                 AN ACT


 
To amend the Federal Deposit Insurance Act to clarify the applicability 
of host State laws to any branch in such State of an out-of-State bank.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, 

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Riegle-Neal Clarification Act of 
1997''.

SEC. 2. INTERSTATE BRANCHING.

    Subsection 24(j) of the Federal Deposit Insurance Act (12 U.S.C. 
1831a(j)) is amended to read as follows:
    ``(j) Activities of Branches of Out-of-State Banks.--
            ``(1) Application of host state law.--The laws of a host 
        State, including laws regarding community reinvestment, 
        consumer protection, fair lending, and establishment of 
        intrastate branches, shall apply to any branch in the host 
        State of an out-of-State State bank to the same extent as such 
        State laws apply to a branch in the host State of an out-of-
        State national bank. To the extent host State law is 
        inapplicable to a branch of an out-of-State State bank in such 
        host State pursuant to the preceding sentence, home State law 
        shall apply to such branch.
            ``(2) Activities of branches.--An insured State bank that 
        establishes a branch in a host State may conduct any activity 
        at such branch that is permissible under the laws of the home 
        State of such bank, to the extent such activity is permissible 
        either for a bank chartered by the host State (subject to the 
        restrictions in this section) or for a branch in the host State 
        of an out-of-State national bank.
            ``(3) Coordination with section 44.--No provision of this 
        subsection shall be construed as affecting the applicability of 
        any State law of any home State under subsection (b), (c), or 
        (d) of section 44.
            ``(4) Definitions.--The terms `host State', `home State', 
        and `out-of-State bank' have the same meanings as in section 
        44(f).''.

            Passed the House of Representatives May 21, 1997.

            Attest:

                                                                 Clerk.