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OTS Pre-Empts New York Law.(Office of Thrift Supervision, New York lending law)(Brief Article)
The Office of Thrift Supervision has pre-empted New York state's anti-predatory lending law so that federally chartered thrifts and their operating subsidiaries will not be bound by the state's lending restrictions.
"Federal law authorizes OTS to provide federal savings associations with a uniform national regulatory environment for their lending operations," OTS director James Gilleran said last week.
"By requiring federal thrifts to treat customers in ...
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