S. 2973 (108th)

Preservation of Federalism in Banking Act

referredUnited States· United States Congress· EN

Introduced

9 October 2004

Last action

9 October 2004 · Introduced

Status

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S10989)

Summary

Preservation of Federalism in Banking Act - Amends the Revised Statutes of the United States to set forth State law preemption standards for national banks and their subsidiaries. Declares that any State: (1) consumer law of general application (including any law relating to unfair or deceptive acts or practices and any consumer fraud law) shall also apply to any national bank; and (2) law applicable to State banks shall also apply to any national bank if it was enacted pursuant to, or consistent with, Federal law permitting the States to exceed or supplement Federal law requirements. Prohibits construction of Federal law governing visitorial powers, or otherwise limiting or restricting the supervisory, examination, or regulatory authority to which any national bank is subject, as limiting or restricting the authority of a State attorney general to enforce: (1) any applicable Federal or State law; or (2) on behalf of residents of such State, any applicable provision of any Federal or State law against a national bank, or seek relief and recover damages for such residents from any violation of any such law by any national bank. Prohibits construction of Federal law governing nondepository institution subsidiaries of national banks as preempting the applicability of State law to any State-chartered nondepository institution subsidiary of a national bank, except to the extent the preemption is explicitly provided by an Act of Congress. Directs the Comptroller of the Currency to record and monitor each complaint received from a consumer regarding a national bank or any subsidiary of a national bank as well as the resolution of the complaint.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

9 October 2004
Introduced
Introduced in Senate
Source: IntroReferral
9 October 2004
Introduced
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S10989)
Source: IntroReferral
9 October 2004
Introduced
Sponsor introductory remarks on measure. (CR S10988-10989)
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Introduced in Senate · 9 October 2004 · Download file

Documents

3 official files

Introduced in Senate (text)

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Introduced in Senate (text)
Introduced in Senate · EN · 9 October 2004
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Introduced in Senate (PDF)
Introduced in Senate · EN · 9 October 2004
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Introduced in Senate
summary · EN · 9 October 2004
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
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Related records

related to → Preservation of Federalism in Banking Act

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/108th-congress/senate-bill/2973
Open data entity: https://api.congress.gov/v3/bill/108/s/2973
us · 108-s-2973 · source updated 18 August 2025