Tag: preemption_determination
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OCC Finalizes Rule Preempting State Interest-on-Escrow Laws
The OCC has finalized a preemption determination, allowing national banks greater flexibility on real estate escrow account interest and fees. This ruling overrides state laws, including New York's, affecting all OCC-regulated institutions, including community banks.
Politics and GovernmentBusinessFederal GovernmentState GovernmentsBankingReal EstateLegal Office of the Comptroller of the CurrencyPreemption DeterminationReal Estate EscrowNational BanksState LawsMortgage BankingLaws & RegulationsOffice of the Comptroller of the Currency (OCC)