The recent 'Barnett Bank' decision, upholding a bank's right to sell insurance in small towns, leaves many issues unresolved
Article Abstract:
The US Supreme Court ruled in Barnett Bank v. Nelson that a Florida statute barring banking-insurance affiliations was preempted by federal law, but the Court failed to address a number of issues of concern to the Comptroller of the Currency, the banking industry and the insurance industry. Insurance companies are concerned that laws such as the federal statute allowing banks in towns of under 5,000 to offer insurance services will encroach on their business. The Court failed to address the scope of this exception as well as the unequal treatment of state and national banks that may result.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1996
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The Interstate Banking Act creates new incentives to obtain national charters, threatening the relevance of the dual state-federal system
Article Abstract:
The Interstate Banking Act passed in 1994 changes the balance between state and federal charters in favor of the latter, forcing states to rethink their laws and regulations as well as several related issues. It follows several prior federal acts which limited state-chartered banks and thrifts, but goes further in relocation powers and giving the Office of the Comptroller of the Currency broad authority to preempts state laws. States have a long tradition of innovation that has historically made state banks competitive.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
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A decision letting bank subsidiaries act as certification authorities for digital signature verification will increase bank forays into electronic commerce
Article Abstract:
The Office of the Comptroller of the Currency has fostered bank participation in electronic commerce by permitting a bank subsidiary to be a certification authority and repository for certificates used to verify digital signatures, as well as being a key recovery agent for the escrow of encryption keys. This is the first explicit grant of authority to a national bank to perform these activities.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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- Abstracts: To the rescue; organizing the bar to support solo and small-firm practitioners. Has the parade passed us by? Solo practitioners march on through tough times
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- Abstracts: 10 months after 'Koon,' sentence guidelines intact; decision was hailed as giving judges more power to depart from them
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