The Ninth Circuit held that the OCC regulations preempted some, but not all, of the plaintiffs' claims. The court held that a regulation authorizing national banks to establish "the method of calculating" noninterest charges and fees "in [their] discretion"125 preempted claims premised on the theory that Wells Fargo's posting method was an unfair business practice.
A woman sits at a cafe as a screen of a currency exchange office shows the foreign exchange at Omonia square in Athens, Greece, Wednesday, July 13, 2022. The euro on Tuesday fell to parity with the dollar for the first time in nearly 20 years. (AP Photo/Thanassis Stavrakis)
standard for determining when a State law is preempted."197 Senator Christopher Dodd responded that Senator Carper's interpretation of Section 1044 was "correct," and explained that "[t]here should be no doubt that the legislation codifies the preemption standard stated by the U.S. Supreme Court in [
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where a federal statute or regulation contains explicit preemptive language—that is, where a clause in the relevant federal law explicitly provides that it displaces certain categories of state law. For example, the Employee Retirement Income Security Act of 197422 contains an express preemption clause providing that some of the Act's provisions "shall supersede any and all State laws insofar as they may now or hereafter relate to any employee benefit plan" described elsewhere in the statute.23
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If the market price of IBM common stock is above $60 per share, the investor can profit by converting it into common stock.
note 7 at 178 (noting that "we are now far from the original dual banking system, with independent federal and state regulators and independent state and national banking chẵn lẻ hitbank systems.").
decision, Congress enacted legislation to extend the same power to "export" the maximum interest rates allowable in a bank's home state to state banks, preempting contrary state law.88
Conversion Parity Price The conversion parity price is the price paid for converting the security from debt to shares.
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. at 1282-84 (raising as one possible interpretation of the OCC's preemption rules the view that the NBA does not preempt any "generally applicable law that does not subject the business of banking to any special conditions," but rejecting the tenability of such an approach on the grounds that "virtually any banking-specific prohibition can be reframed as a general common law or statutory theory under a law that makes pelo particular mention of banking.").
conflict preemption analysis."217 However, the rule indicated that the OCC had not identified any preemption determinations that in fact relied "exclusively" on the relevant language.