S.2355 - Savings Association Interstate Branching Act of 1992102nd Congress (1991-1992)
|Sponsor:||Sen. Ford, Wendell H. [D-KY] (Introduced 03/13/1992)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||03/13/1992 Read twice and referred to the Committee on Banking. (All Actions)|
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Summary: S.2355 — 102nd Congress (1991-1992)All Information (Except Text)
Introduced in Senate (03/13/1992)
Savings Association Interstate Branching Act of 1992 - Amends the Home Owners' Loan Act to preclude a Federal savings association from establishing or operating a new branch outside its home State unless it has the written approval of the Director of the Office of Thrift Supervision.
Restricts the Director's authority to approve interstate branching by a Federal savings association to situations where: (1) the law of the host State allows interstate branching for its State-chartered thrifts; (2) the interstate branch is operated pursuant to the laws of the host State; and (3) the Federal savings association is adequately capitalized under Federal law.