It’s a Two-Way Street in Regulating Banks
The U.S. Office of the Comptroller of the Currency has ruled that federally chartered banks are exempt from state banking laws (“U.S. Agency Rejects State Bank Laws,” Jan. 8).
This should be a two-way street. If the national banks do not have to follow state laws, states should bar the national banks from using state laws.
National banks should not be allowed to use state courts and state laws to enforce their loans. They should not be allowed to record property liens in our county recorders’ offices.
These banks should not be allowed to attach wages under state laws. They should not be allowed to use state laws to repossess automobiles and other property.
David E. Ross
Oak Park
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