Dual banking

Dual banking

Describes United States custom in which a bank is chartered by the state or federal government.

Dual Banking

In the United States, the regulatory situation in which a bank may receive a charter from either the Federal Reserve or the state in which it operates. This is a function of federalism in the United States, and is different from banking regulation in many other countries. See also: Member bank, Non-member bank.
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He told the committee that a recent decision by the Office of the Comptroller of the Currency to preempt national banks and their state- chartered subsidiaries from most state laws, state regulatory oversight and law enforcement poses a grave threat to the state banking system and the state-federal dual banking system.
As previously noted, we are working closely with the FDIC and state banking agencies to deal with the challenges presented by interstate banking and branching to ensure that the dual banking system remains viable in future years.
The group participates in lobbying activities at the state and national level; supports a dual banking system; helps to protect the rights of states to determine a suitable financial institution structure; and provides a variety of cost effective services to members.
Action to alter this balance would be contrary to the deliberate steps that the Congress has taken to ensure a proper balance in the regulation of this nation's dual banking system.
The ABIA believes that the dual banking system can be translated for use by the insurance industry.
Such action would be contrary to the deliberate steps that the Congress has taken to ensure a proper balance in the regulation of this nation's dual banking system.
The "optional federal charter" structure mirrors the successful dual banking system and would provide a more uniform, efficient regulatory environment.
We attribute this strong growth to our business model, what we call the dual banking leverage model , which allows us to have effective and real scale, as well as depth, in our ability to support the needs of consumers in the markets we serve.
CSBS is the only national organization dedicated to enhancing the value of the state charter and strengthening the dual banking system.
Every time I have interviewed Governor Zeti she has given me the same quote about Malaysia's dual banking system; it gives choice to the consumer.
EcoBank converted its operations into an Islamic bank one-and-a half years ago as part of the republics adoption of a dual banking system comprising Islamic and conventional.
Dugan also took issue with the notion that national bank preemption has created a "regulatory gap" in consumer protection, citing the strong protections in federal law and the OCC's extensive enforcement powers and strong supervisory oversight, along with differences in state and federal regulation that result from federalism and the dual banking system.