Review of the National Bank Preemption Rules: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Eighth Congress, Second Session, on the Office of the Comptroller of the Currency Rulemakings Pertaining to the Applicability of State Laws to National Banks, April 7, 2004U.S. Government Printing Office, 2005 - 357 pagini |
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Pagina 237 - They are subject to the laws of the State, and are governed in their daily course of business far more by the laws of the State than of the nation. All their contracts are governed and construed by State laws. Their acquisition and transfer of property, their right to collect their debts, and their liability to be sued for debts, are all based on State law. It is only when the State law incapacitates the banks from discharging their duties to the government that it becomes unconstitutional.
Pagina 316 - where compliance with both federal and state regulations is a physical impossibility..., " Florida Lime & Avocado Growers, Inc. v. Paul, 373 US 132, 142-143 (1963), or where the state " law stands as an obstacle to the accomplishment and execution of the full purposes and objectives of Congress.
Pagina 286 - National banks are brought into existence under Federal legislation, are instrumentalities of the Federal government, and are necessarily subject to the paramount authority of the United States. Nevertheless, national banks are subject to the laws of a state in respect of their affairs unless such laws interfere with the purposes of their creation, tend to impair or destroy their efficiency as Federal agencies, or conflict with the paramount law of the United States.
Pagina 257 - Except as hereinafter provided or otherwise permitted by law, nothing herein, contained shall authorize the purchase by the association for its own account of any shares of stock of any corporation.
Pagina 310 - The Financial Action Task Force on Money Laundering (FATF) is an inter-governmental body whose purpose is the development and promotion of policies to combat money laundering the processing of criminal proceeds in order to disguise their illegal origin. These policies aim to prevent such proceeds from being utilised in future criminal activities and from affecting legitimate economic activities. 2. The FATF currently consists of 26 countries" and two international organisations26.
Pagina 247 - Absent a clear indication of congressional intent, we are reluctant to federalize the substantial portion of the law of corporations that deals with transactions in securities, particularly where established state policies of corporate regulation would be overridden.
Pagina 220 - To say this is not to deprive States of the power to regulate national banks, where (unlike here) doing so does not prevent or significantly interfere with the national bank's exercise of its powers.
Pagina 286 - L.Ed. 692 ("national banks are subject to state laws, unless those laws infringe the national banking laws or impose an undue burden on the performance of the banks
Pagina 287 - Nor is there anything in the statutes of the State of Massachusetts, here considered, which in any way impairs the efficiency of national banks or frustrates the purpose for which they were created. No function of such banks is destroyed or hampered by allowing the banks to exercise the power to take real estate, provided only they do so under the same conditions and restrictions to which all the other citizens of the State are subjected, one of which limitations arises from the provisions of the...
Pagina 251 - House a bill amending section 5241 so as to read as follows: SEC. 5241. No association shall be subject to any visitatorial powers other than such as are authorized by this title or are vested in the courts of justice or such as shall be or shall have been exercised or directed by the Congress or either House thereof. This bill was promptly passed by the House on May 18, 1912. Meantime, on May 16, 1912, the first session for the examination of witnesses was held.