Relation to state law.

CFR · 2024-01-01 · US · Title 12

(a) (1) Supersede the provisions of the EFA Act and subpart B, and, in connection therewith, subpart A, to the extent the provisions relate to the time by which funds deposited or received for deposit in an account are available for withdrawal; and (2) Apply to all federally insured banks located within the state. (b) (c) (1) Permits a depositary bank to make funds deposited in an account by cash, electronic payment, or check available for withdrawal in a longer period of time than the maximum period of time permitted under subpart B, and, in connection therewith, subpart A; or (2) Provides for disclosures or notices concerning funds availability relating to accounts. (d) (e) (1) A copy of the full text of the state law in question, including any implementing regulations or judicial interpretations of that law; and (2) A comparison of the provisions of state law with the corresponding provisions in the EFA Act and subparts A and B of this part, together with a discussion of the reasons why specific provisions of state law are either consistent or inconsistent with corresponding sections of the EFA Act and subparts A and B of this part. A request for a preemption determination shall be addressed to the Secretary, Board of Governors of the Federal Reserve System.

official document · source cfr-2024 · id 12:§ 229.20