[Congressional Record Volume 143, Number 82 (Thursday, June 12, 1997)]
[Senate]
[Page S5628]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               THE REIGLE-NEAL CLARIFICATION ACT OF 1997

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                SARBANES (AND D'AMATO) AMENDMENT NO. 372

  Mr. SANTORUM (for Mr. Sarbanes for himself and Mr. D'Amato) proposed 
an amendment to the bill (H.R. 1306) 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; as follows:

       On page 1, beginning on line 4, strike ``Clarification'' 
     and insert ``Amendments''.
       On page 1, line 7, insert ``(a) Activities of Branches of 
     Out-of-State Banks.--'' before ``Subsection''.
       On page 2, strike line 22 and all that follows through page 
     3, line 2 and insert the following:
       ``(3) Savings provision.--No provision of this subsection 
     shall be construed as affecting the applicability of--
       ``(A) any State law of any home State under subsection (b), 
     (c), or (d) of section 44; or
       ``(B) Federal law to State banks and State bank branches in 
     the home State or the host State.
       On page 3, after line 5, add the following:
       (b) Law Applicable to Interstate Branching Operations.--
     Section 5155(f)(1) of the Revised Statutes (12 U.S.C. 
     36(f)(1)) is amended by adding at the end the following:
       ``(C) Review and report on actions by comptroller.--The 
     Comptroller of the Currency shall conduct an annual review of 
     the actions it has taken with regard to the applicability of 
     State law to national banks (or their branches) during the 
     preceding year, and shall include in its annual report 
     required under section 333 of the Revised Statutes (12 U.S.C. 
     14) the results of the review and the reasons for each such 
     action. The first such review and report after the date of 
     enactment of this subparagraph shall encompass all such 
     actions taken on or after January 1, 1992.''.
       Amend the title to read as follows: ``An Act to amend 
     Federal law to clarify the applicability of host State laws 
     to any branch in such State of an out-of-State bank, and for 
     other purposes.''.
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                       FEINGOLD AMENDMENT NO. 373

  Mr. SANTORUM (for Mr. Feingold) proposed an amendment to the bill, 
H.R. 1306, supra; as follows:

       At the appropriate place, insert the following: ``Nothing 
     in this act alters the right of states under section 525 of 
     Public Law 96-221.''
                                 

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