Buckley: Proposed rules would exempt banks from state rules | NevadaAppeal.com

Buckley: Proposed rules would exempt banks from state rules

Staff reports

Assembly Majority Leader Barbara Buckley, D-Las Vegas, has called on Nevada’s congressional delegation and the president to oppose proposed banking rules she says would exempt nationally chartered banks from nearly all state consumer protection laws.

“These banks have a huge share of the Nevada market in deposit accounts and home loans as well as other types of loans,” she said.

She said the Office of the Comptroller of the Currency doesn’t have the resources to pursue all problems involving national banks — citing predatory lending practices and identity theft as examples.

“We need state laws to protect consumers,” she said. “The federal track record on some of these consumer protection issues does not provide a high level of confidence.”

She urged other Nevadans to join here in contacting the congressional delegation and the President to oppose proposed regulations that would exempt nationally chartered banks from state controls.