Field Guide to Federal Banking Regulator Preemption Rules
(Updated September 2006)
On January 7, 2004, the Office of the Comptroller of the Currency (OCC) issued a final rule identifying types of state laws that are preempted for national banks, including mortgage lender/broker licensing laws, escrow account laws, credit score disclosure laws, and anti-predatory lending laws. In addition, the OCC has reserved for itself enforcement of all rules against national banks and their operating subsidiaries. State regulators no longer have authority to pursue wrongdoing in this area against these entities. This page presents information from NAR, the OCC, and others about the preemption rules and what they may mean for REALTORS® and consumers. (F. Heller, Manager, Virtual Library & Archives)
Preemption Rules and Other Info from Federal Agencies 
FDIC Proposed Preemption Rule, (Federal Register, Oct. 14, 2005).
OCC Preemption Final Rule, (Federal Register, Jan. 13, 2004).
Information from NAR
NAR Takes Challenge To The Supreme Court: Office Of The Comptroller of the Currency Decision Would Preempt State Laws, (National Association of REALTORS®, Sept. 2006).
NAR's Amicus Brief for the Supreme Court's Watters Case, (National Association of REALTORS® Press Release , Sept. 6, 2006).
FDIC board decides to publish proposed rule to preempt certain state laws, (National Association of REALTORS® Press Release, Oct. 2005).
NAR urges FDIC to deny preemption petition, (National Association of REALTORS® Press Release, May 24, 2005).
Written statement before the FDIC hearing on the petition for rulemaking to preempt certain state laws, (National Association of REALTORS®, May 24, 2005).
OCC rule favors big banks over consumers, (National Association of REALTORS® Press Release, Apr. 7, 2004).
OCC rule harms consumers & the real estate industry, (National Association of REALTORS® Press Release, Mar. 17, 2004).
Staff Analysis of OCC Final Rule, (National Association of REALTORS®, 2004).
NAR Chief Economist David Lereah's Letter to the OCC, (National Association of REALTORS®, Feb. 13, 2004).
Testimony before the House Financial Services Subcommittee on Oversight and Investigations, (National Association of REALTORS®, Jan. 28, 2004).
Comment Letter to the OCC, (National Association of REALTORS®, Oct. 6, 2003).
For more information from NAR about federal preemption rules, see Federal Preemption of State Banking Laws on Realtor.org.
Other Articles & Material
Federal preemption of state bank regulation: a conference panel summary, (Chicago Fed Letter, Sept. 2006).
The Wealth Effects of OCC Preemption Announcements After the Passage of the Georgia Fair Lending Act, (U.S. Office of the Comptroller of the Currency, Dec. 2004).
Key problems with the OCC's preemption rule, (Democratic Staff of the House Financial Services Committee, 2004).
House panel attacks regulator battling the states over banks, (The Wall Street Journal, Feb. 26, 2004). Q
Banks in real estate: Worse than your worst nightmare, (Realty Times, Feb. 18, 2004).
OCC changes spark national debate, (In Business Las Vegas, Feb. 6, 2004).
Congressional Review of OCC Preemption - Hearing Testimony and Opening Statements, (U.S. House Committee on Financial Services, Jan. 28, 2004).
New federal preemption regulations level the playing field for national banks, (Mondaq News Alerts, Jan. 27, 2004).
Critics cry foul over new rules on bank review, (The Wall Street Journal, Jan. 8, 2004). Q
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