[105th Congress Public Law 24]
[From the U.S. Government Printing Office]

[DOCID: f:publ24.105]

[[Page 111 STAT. 238]]

Public Law 105-24
105th Congress

                                 An Act

To amend Federal law to clarify the applicability of host State laws to 
    any branch in such State of an out-of-State bank, and for other 
            purposes. <<NOTE: July 3, 1997 -  [H.R. 1306]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in <<NOTE: Riegle-Neal Amendments Act of 
1997.>>  Congress assembled,

SECTION 1. <<NOTE: 12 USC 1811 note.>> SHORT TITLE.

    This Act may be cited as the ``Riegle-Neal Amendments Act of 1997''.


    (a) Activities of Branches of Out-of-State Banks.--Subsection 24(j) 
of the Federal Deposit Insurance Act (12 U.S.C. 1831a(j)) is amended to 
read as follows:
    ``(j) Activities of Branches of Out-of-State Banks.--
            ``(1) Application of host state law.--The laws of a host 
        State, including laws regarding community reinvestment, consumer 
        protection, fair lending, and establishment of 
        intrastate branches, shall apply to any branch in the host State 
        of an out-of-State State bank to the same extent as such State 
        laws apply to a branch in the host State of an out-of-State 
        national bank. To the extent host State law is inapplicable to a 
        branch of an out-of-State State bank in such host State pursuant 
        to the preceding sentence, home State law shall apply to such 
            ``(2) Activities of branches.--An insured State bank that 
        establishes a branch in a host State may conduct any activity at 
        such branch that is permissible under the laws of the home State 
        of such bank, to the extent such activity is permissible either 
        for a bank chartered by the host State (subject to the 
        restrictions in this section) or for a branch in the host State 
        of an out-of-State national bank.
            ``(3) Savings provision.--No provision of this subsection 
        shall be construed as affecting the applicability of--
                    ``(A) any State law of any home State under 
                subsection (b), (c), or (d) of section 44; or
                    ``(B) Federal law to State banks and State bank 
                branches in the home State or the host State.
            ``(4) Definitions.--The terms `host State', `home State', 
        and `out-of-State bank' have the same meanings as in section 

[[Page 111 STAT. 239]]

    (b) Law Applicable to Interstate Branching Operations.--Section 
5155(f)(1) of the Revised Statutes (12 U.S.C. 36(f)(1)) is amended by 
adding at the end the following:
                    ``(C) Review and report on actions by comptroller.--
                The Comptroller of the Currency shall conduct an annual 
                review of the actions it has taken with regard to the 
                applicability of State law to national banks (or their 
                branches) during the preceding year, and shall 
                include in its annual report required under section 333 
                of the Revised Statutes (12 U.S.C. 14) the results of 
                the review and the reasons for each such action. The 
                first such review and report after the date of enactment 
                of this subparagraph shall encompass all such actions 
                taken on or after January 1, 1992.''.

SEC. 3. RIGHT <<NOTE: 12 USC 1831a note.>>  OF STATE TO OPT OUT

    Nothing in this Act alters the right of States under section 525 of 
Public Law 96-221.

    Approved July 3, 1997.


            May 21, considered and passed House.
            June 12, considered and passed Senate, amended.
            June 24, House concurred in Senate amendment.