Major US banks are lobbying the Office of the Comptroller of the Currency (OCC) to establish national regulatory standards that would override state-imposed rules affecting their operations.
Citing people familiar with the matter, Reuters reports the banks seek uniform federal guidelines for activities such as lending funds, issuing bonds, offering investment banking services and conducting anti-money laundering (AML) assessments.
The goal, according to Reuters’ sources, is to limit the influence that individual states have over these operations.
Sources say the push aligns with efforts by the Trump administration to reinforce federal preemption, following a 2024 U.S. Supreme Court ruling affirming that federal laws take precedence over state laws for national banks
The initiative is additionally supported by a recent executive order aimed at standardizing “debanking” practices, in which banks may deny services based on political or religious criteria.
Lobbying groups such as the Bank Policy Institute and the American Bankers Association have endorsed the call for national standards.
Says the Bank Policy Institute,
“We strongly support national preemption and believe federal fair access legislation or regulation would be a prudent move to address account closures in a consistent way across all states.”
However, some state regulators contend that local oversight is essential for maintaining consumer protection, promoting market integrity, and tailoring regulations to community needs
The tension arises as several states – including Texas, Florida, and California – have enacted rules that restrict banks’ actions based on social or political issues, prompting national banks to seek clearer federal guidelines.
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