Along with more than 20 other organizations, the Domestic Policy Caucus has signed onto a coalition letter supporting the Federal Deposit Insurance Corporation’s proposed State Bank Parity rule.
In part, the coalition wrote, “The rule would apply a host state’s laws to the services an out-of-state state bank provides in the host state to the same extent those laws apply to an out-of-state national bank, regardless of whether the state bank has a branch in the host state. Where the host state’s law does not apply, the law of the bank’s chartering state would. That is the parity Congress promised state-chartered banks, and the rule would protect the dual banking system from state laws that national banks need not follow.”