Acting Comptroller of the Currency Rodney Hood reaffirmed the OCC’s support of preemption as a cornerstone of the dual banking system and fundamental to the operation of the federal banking system.
Details: In a letter responding to a Conference of State Bank Supervisors request that the OCC rescind its preemption regulations in light of recent executive orders from President Donald Trump, Hood said the OCC’s preemption regulations are consistent with federal law and Supreme Court precedent and enable local and national prosperity and growth.