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FDIC Federal Register Citations State of California - Office the Attorney General
Mr. Robert E. Feldman, Executive Secretary Re: Petition for Rulemaking to Preempt Certain State Laws 70 FR 13413 (March 21, 2005) Dear Mr. Feldman: I am writing to express my agreement with and join in the comments previously filed by the New York Attorney General on behalf of himself and the Attorneys General of the States of Connecticut, Illinois, Iowa, New Mexico, North Carolina and Vermont. I urge the FDIC to deny in its entirety the petition filed by the Financial Services Roundtable. That petition requests the FDIC to adopt rules that would effectively immunize state banks from complying with the laws of the states in which they conduct business.
The action sought by the Financial Services Roundtable is beyond the legal
authority of the FDIC. Furthermore, adoption of such rules would be
contrary to long-established principles of federalism and would have
Sincerely,
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Last Updated 05/20/2005 | Regs@fdic.gov |