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Banking Law OverviewNavigation: Home > Banking Law> Banking Law Overview
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Banking law covers several types of financial institutions, including banks, savings unions, credit unions, and savings and loans. Banking law generally applies to domestic and international providers and consumers of debt financing including, on the lending side, domestic and foreign banks, bank holding companies, leasing companies, finance companies and other financial institutions and, on the borrowing side, corporate, government, institutional, individual and financial intermediary borrowers. Banking law covers topics such as incorporation of banks, corporate and private lending, financing and refinancing, cross-border and international banking transactions, financial leasing, loans, electronic banking and regulatory and corporate governance. Perhaps the single most significant theme of bank regulation has been the co-existence of state and federal regulators with sometimes overlapping jurisdictions. Under the federal government, the comptroller of currency charters national banks. The Federal Reserve Board and the Federal Deposit Insurance Corporation regulate. Federal banking law requires than any deposit-taking institutions be chartered as banks. Each state has its own state official that regulates banks. The official is usually called the Director, Superintendent, or Director of Banks. Banks are controlled by the laws that create them. Checking accounts are governed by state law supplemented by some federal law. Banking lawyers provide legal assistance during financial transactions. This assistance includes tax consequences, government regulations, and issues with an individuals bank.
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