This is exactly the type of lying neo-conservative FEDERAL regulation that shows what hypocrits they are.<quoted text>
Preemption of state banking regulation
In 2003, the OCC proposed regulations to preempt virtually all state banking and financial services laws for national banks and their diverse range of non-bank, corporate operating subsidiaries. Despite opposition from the National Conference of State Legislatures, the OCC's regulations went into effect. In Watters v. Wachovia Bank, N.A. in 2007 the United States Supreme Court validated the preemption of state regulations by the OCC, ruling that the OCC, not the states, has the authority to subject national banks to "general supervision" and "oversight":
...State regulators cannot interfere with the business of banking by subjecting national banks or their OCC-licensed operating subsidiaries to multiple audits and surveillance under rival oversight regimes.
Democrats can't resist the urge to micro-manage something regardless of their qualifications to do so...that's why we lost the Viet Nam war without ever losing a major battle.
A) This Ron Reagan policy caused credit card rates to rise from 8-12% up to 18-24%.
To wring money out of working Americans. This is how much the GOP does for middle income Americans...IT MILKS THEM DRY.
1) We did not lose the Vietnam war.
2) We did not win, either; because we backed the wrong side. Presidenty Eisenhower turned down nationalist Ho Chi Minh when Ho aske for help to remove the French colonial government from his nation. Ike said no; we can't turn ouur back on our WWII ally Gen DeGaulle. Some decision!
3) We face a similar situation right now in Egypt.