Preservation of existing contracts

1. Law
2. USC 12
3. Banks And Banking
4. WALL STREET REFORM AND CONSUMER PROTECTION
5. BUREAU OF CONSUMER FINANCIAL PROTECTION
6. Preservation of State Law
7. Preservation of existing contracts

§5553. Preservation of existing contracts

This title,¹ 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.

( Pub. L. 111–203, title X, §1043, July 21, 2010, 124 Stat. 2014 .)

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1955 , known as the Consumer Financial Protection Act of 2010, which enacted this subchapter and enacted, amended, and repealed numerous other sections and notes in the Code.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.

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.

¹ See References in Text note below.

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