SUBJECT:

PURPOSE:

New York City

Friday
April 16, 2004
10:00 A.M.

Assembly Hearing Room
250 Broadway
Room 1923 - 19th Floor
New York, NY

In January 2004, the Office of the Comptroller of the Currency (OCC) issued two regulations on behalf of national banks. The first regulation preempted most state laws that apply to national banks and their operating subsidiaries - including New York's predatory lending law. The second regulation declared that the OCC has the exclusive right to examine, supervise and regulate national banks and their operating subsidiaries. Collectively, these regulations shield national banks from any effort by state legislators, regulators and attorneys general to enact or enforce consumer protection laws, thereby denying states the ability to protect their own citizens from illegal conduct by these banks - including predatory lending abuses. New York State Attorney General Eliot Spitzer will be among those delivering testimony at this important hearing which will address concerns about the OCC's rulings, and their effect on consumer protection and the dual banking system.

Persons wishing to present pertinent testimony to the Committee at the above hearing should complete and return the enclosed reply form as soon as possible. It is important that the reply form be fully completed and returned so that persons may be notified in the event of emergency postponement or cancellation.

Oral testimony will be limited to 10 minutes' duration. In preparing the order of witnesses, the Committee will attempt to accommodate individual requests to speak at particular times in view of special circumstances. These requests should be made on the attached reply form or communicated to Committee staff as early as possible. In the absence of a request, witnesses will be scheduled in the order in which reply forms are postmarked.

Ten copies of any prepared testimony should be submitted at the hearing registration desk. The Committee would appreciate advance receipt of prepared statements.

In order to further publicize these hearings, please inform interested parties and organizations of the Committee's interest in hearing testimony from all sources.

In order to meet the needs of those who may have a disability, the Assembly, in accordance with its policy of non-discrimination on the basis of disability, as well as the 1990 Americans with Disabilities Act (ADA), has made its facilities and services available to all individuals with disabilities. For individuals with disabilities, accommodations will be provided, upon reasonable request, to afford such individuals access and admission to Assembly facilities and activities.

PUBLIC HEARING REPLY FORM

Persons wishing to present testimony at the public hearing on OCC Preemption are requested to complete this reply form as soon as possible and mail it to:

Renee Skorupski
Committee Assistant
Assembly Committee on Banks
Room 520 - Capitol
Albany, New York 12248
Email: skorupr@assembly.state.ny.us
Phone: (518) 455-4928 Fax: (518) 455-5182

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