Title 12 — Banks and Banking
Part D · Chapter 53 — Wall Street Reform and Consumer Protection
§ 5553. Preservation of existing contracts
Statutory text
This title,1 and regulations, orders, guidance, and interpretations prescribed, issued, or established by the Bureau, shall not be construed to alter or affect the applicability of any regulation, order, guidance, or interpretation prescribed, issued, and established by the Comptroller of the Currency or the Director of the Office of Thrift Supervision regarding the applicability of State law under Federal banking law to any contract entered into on or before , by national banks, Federal savings associations, or subsidiaries thereof that are regulated and supervised by the Comptroller of the Currency or the Director of the Office of Thrift Supervision, respectively.
Footnotes
- 1 See References in Text note below.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Consumer Financial Protection Act of 2010
Pub. L. 111–203 title X § 1043 · 124 Stat. 1376
Enacted · 12 U.S.C. § 5553
(Pub. L. 111–203, title X, § 1043, July 21, 2010, 124 Stat. 2014.)
Source evidence
Code source credit
(Pub. L. 111–203, title X, § 1043, July 21, 2010, 124 Stat. 2014.)Enacted provision · exact public law section
SEC. 1043. PRESERVATION OF EXISTING CONTRACTS. This title, and regulations, orders, guidance, and interpretations prescribed, issued, or established by the Bureau, shall not be construed to alter or affect the applicability of any regulation, order, guidance, or interpretation prescribed, issued, and established by the Comptroller of the Currency or the Director of the Office of Thrift Supervision regarding the applicability of State law under Federal banking law to any contract entered into on or before the date of enactment of this Act, by national banks, Federal savings associations, or subsidiaries thereof that are regulated and supervised by the Comptroller of the Currency or the Director of the Office of Thrift Supervision, respectively.
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
This title, referred to in text, is title X of Pub. L. 111–203, , 124 Stat. 1955, known as the Consumer Financial Protection Act of 2010, which enacted this subchapter and enacted, amended, and repealed numerous other sections and notes in the Code. For complete classification of title X to the Code, see Short Title note set out under section 5301 of this title and Tables.
Statutory Notes and Related Subsidiaries
Effective Date
Section effective on the designated transfer date, see section 1048 of Pub. L. 111–203, set out as a note under section 5551 of this title.