federally chartered banks

federally chartered banks

Financial institutions authorized and regulated by the federal government rather than the state government.They have the word “national”in their name, or the initials “N.A.” at the end. Supervision is by the Office of the Comptroller of the Currency (OCC) at www.occ.treas.gov.

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In Alaska, state-chartered banks are supervised by the State of Alaska, while the Office of the Comptroller of the Currency (part of the US Treasury Department) supervises federally chartered banks.
The Board seeks to retain existing state chartered banks while encouraging federally chartered banks to become state charters.
If the bill passes, there would be three sets of rules: a federal cap for large national banks, a state cap for small state-chartered banks, and no cap at all for smaller federally chartered banks.
House Bill 2467 does not stop a bank from making the loans - federally chartered banks are out of the Legislature's reach - but it prohibits tax preparers, which are state regulated, from dealing in high-cost loans.
Melissa Bean (D-Illinois) is proposing an amendment to exempt federally chartered banks and credit unions from additional state regulations.
It also enables federally chartered banks that are considering acquiring licensed lenders to assess the risk exposure of existing loan pools, as well as understand how their ability to pre-empt certain state laws would change the target's regulatory risk schema for any new loans it originates, explained Louis Pizante, Mavent's chief executive officer.
The House language would raise the limit on such public welfare investments by federally chartered banks and thrifts to 15 percent of capital and surplus, up from 10 percent.
The entry of federally chartered banks or financial holding companies (FHCs) into the management business would tilt this balanced marketplace toward the FHCs.
Do Americans believe that their assets held at federally chartered banks are less well protected than those held at state chartered banks?
A recent proposal by the Federal Reserve Board that would allow federally chartered banks to engage in real estate brokerage and property management has not gone unnoticed by the National Association of Realtors.
This frees more than 90 percent of all federally chartered banks from the law.
He said his legislative priorities include continuing NAR's campaign to keep federally chartered banks out of real estate brokerage and property management and to raise the need for affordable housing opportunities higher on the federal agenda.

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