12 CFR 560.2 - Applicability of law
| Cite as | 12 CFR 560.2 |
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493 practice notes
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Bank activities and operations and real estate lending and appraisals:
National banks; State law applicability,
...manner consistent with other Federal laws, such as the Truth-in-Lending Act (TILA) \5\ and the Equal Credit Opportunity Act (ECOA).\6\ \4\ 12 CFR 560.2. \5\ 15 U.S.C. 1601 et \6\ 15 U.S.C. 1691 et seq. Under proposed Sec. 34.4(b), certain types of state laws are not preempted and would appl......
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Bank activities and operations and real estate lending and appraisals:
National banks; State law applicability,
...generally); 34.5 (due-on-sale clauses); 34.21 (adjustable-rate mortgage lending); and 34.23 (prepayment fees). \53\ See 12 CFR 557.11-.13; 12 CFR 560.2; and 12 CFR Revisions to Part 34--Real Estate Lending Current OCC Regulations Part 34 of our rules implements 12 U.S.C. 371, which authoriz......
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Grant v. Aurora Loan Serv., Inc., Case No. CV 09-08174 MM(CTx)
...OTS promulgated a regulation explicitly occupying the field of lending regulation for federal savings associations. Id. This provision, 12 C.F.R. § 560.2, states in pertinent part:"To enhance safety and soundness and to enable federal savings associations to conduct their operations in acco......
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McAnaney v. Astoria Financial Corp., No. 04-CV-1101 (JFB)(WDW).
...102 S.Ct. 3014 ("Congress expressly contemplated, and approved, [OTS'] promulgation of regulations superseding state law."); see also 12 C.F.R. § 560.2(a) ("Pursuant to sections 4(a) and 5(a) of the HOLA, 12 U.S.C. 1463(a) , 1464(a), OTS is authorized to promulgate regulations that preemp......
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474 cases
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Grant v. Aurora Loan Serv., Inc., Case No. CV 09-08174 MM(CTx)
...OTS promulgated a regulation explicitly occupying the field of lending regulation for federal savings associations. Id. This provision, 12 C.F.R. § 560.2, states in pertinent part:"To enhance safety and soundness and to enable federal savings associations to conduct their operations in......
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McAnaney v. Astoria Financial Corp., No. 04-CV-1101 (JFB)(WDW).
...102 S.Ct. 3014 ("Congress expressly contemplated, and approved, [OTS'] promulgation of regulations superseding state law."); see also 12 C.F.R. § 560.2(a) ("Pursuant to sections 4(a) and 5(a) of the HOLA, 12 U.S.C. 1463(a) , 1464(a), OTS is authorized to promulgate regulations that preemp......
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Midouin v. Downey Sav. & Loan Ass'n, F.A., 09-CV-4140 (KAM)(JO)
...implementing regulations, "OTS . . . occupies the entire field of lending regulation for federal savings associations." 12 C.F.R. § 560.2(a). Further, in 12 C.F.R. § 560.2(b), the OTS provides illustrative examples of the types of state laws preempted by OTS regulation, including ......
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Leghorn v. Wells Fargo Bank, N.A., Case No. C–13–00708 JCS.
...of credit, loan-related fees, and servicing of mortgage loans and their claims are thus preempted Id. at 12–13 (citing 12 C.F.R. §§ 545.2, 560.2). In the alternative, to the extent the NBA applies, Wells Fargo argues that Plaintiffs' claims are preempted because they are attempting to use s......
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11 firm's commentaries
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Real Estate News Alert - Volume 19, Number 1 - September 2008
...are inapplicable to federMain Article Volume 19, Number 1 © 2008 Thomson Reuters/West 13 al associations under the operation of 12 C.F.R. § 560.2, which expressly “occupies the field” and preempts state law as applied to federal savings associations in a broad variety of categories.68 The......
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Dodd-Frank News - May 2013: Dodd-Frank Wall Street Reform And Consumer Protection Act Update
...Because “Congress did not direct such retroactive application in the Dodd– Frank Act[,]” and the former implementing regulation in 12 C.F.R. § 560.2 was in effect when the loan contract at issue was entered into, the court analyzed Plaintiff ’s claims under 12 C.F.R. § 560.2. With respect t......
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Burr Alert: Preemption Of State Consumer Protection Laws Under The Dodd-Frank Act
...the loan at issue, and, therefore, several of borrower’s claims under DC Consumer Protection Procedures Act were preempted by HOLA, 12 C.F.R. § 560.2); Sovereign Bank v. Sturgis, 863 F. Supp. 2d 75, 92 (D. Mass. 2012) (because Dodd-Frank Act does not apply retroactively, claims against fede......
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Dodd-Frank News: July 2013: Dodd-Frank Wall Street Reform And Consumer Protection Act Update
...the claim, arguing that it was preempted by HOLA and the Office of Thrift Supervision’s pre-Dodd-Frank regulation governing preemption, 12 C.F.R. § 560.2. In response, Plaintiffs argued the Dodd-Frank Act preemption amendments precluded a finding of preemption. Id. Addressing Plaintiffs’ ar......
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3 books & journal articles
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Credit Reform and the States: The Vital Role of Attorneys General After Dodd-Frank
...an incidental effect on the federal depository. See Lending and Investment, 61 Fed. Reg. 50,951, 50,972 (Sept. 30, 1996) (codified at 12 C.F.R. § 560.2(c)) (OTS); Bank Activities and Operations, 69 Fed. Reg. 1904, 1917 (Jan. 13, 2004) (codified at 12 C.F.R. §§ 7.4007(c), 7.4008(e)) (OCC). H......
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Exorcising McCulloch: the conflict-ridden history of American banking nationalism and Dodd-Frank preemption.
...list [of preempted state laws] is also substantially identical to the types of laws specified in a comparable regulation of the OTS. See 12 CFR 560.2(b)."). (291) 12 C.F.R. [degrees] 560.2(a) (292) In Fidelity Federal Savings & Loan Ass'n v. de la Cuesta, the Court suggested that i......
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Vol. 28, No. 5 #9 (October 2005). Predatory Lending: The Hidden Scourge of the Housing Boom.
...Association of Attorneys General to the Office of Comptroller of the Currency, October 6, 2003, available at http://www.naag.org. 29 12 C.F.R. 560.2. 30 12 C.F.R. 31 Guidelines for National Banks to Guard Against Predatory and Abusive Lending Practices, OCC Advisory Letter AL 2003-1, availa......