Title 12, Banks and BankingRelease 119-110

§5553 Preservation of Existing Contracts

Title 12 › CHAPTER 53 — WALL STREET REFORM AND CONSUMER PROTECTION › SUBCHAPTER V — BUREAU OF CONSUMER FINANCIAL PROTECTION › Part D — Preservation of State Law › § 5553

Last updated Sep 23, 2026|Official source

Summary

Bureau rules cannot change how the Comptroller of the Currency or the Director of the Office of Thrift Supervision say State law applies to contracts made on or before July 21, 2010 by national banks, federal savings associations, and their supervised subsidiaries.

Full Legal Text

Title 12, §5553

Banks and Banking, Source: USLM XML via OLRC

This title, and regulations, orders, guidance, and interpretations prescribed, issued, or established by the Bureau, shall not be construed to alter or affect the applicability of any regulation, order, guidance, or interpretation prescribed, issued, and established by the Comptroller of the Currency or the Director of the Office of Thrift Supervision regarding the applicability of State law under Federal banking law to any contract entered into on or before July 21, 2010, by national banks, Federal savings associations, or subsidiaries thereof that are regulated and supervised by the Comptroller of the Currency or the Director of the Office of Thrift Supervision, respectively.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

References in Text

This title, referred to in text, is title X of Pub. L. 111–203, July 21, 2010, 124 Stat. 1955, known as the Consumer Financial Protection Act of 2010, which enacted this subchapter and enacted, amended, and repealed numerous other sections and notes in the Code. For complete classification of title X to the Code, see

Short Title

note set out under section 5301 of this title and Tables.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective on the designated transfer date, see section 1048 of Pub. L. 111–203, set out as a note under section 5551 of this title.

Reference

Citations & Metadata

Citation

12 U.S.C. § 5553

Title 12, Banks and Banking

Last Updated

Sep 23, 2026

Release point: 119-110