Operating Subsidiaries Of National Banks Also Not Subject To State Law Licensing, Reporting, And Visitorial Regulations
Question: Section 484(a) of the National Bank Act provides that, "[n]o National Bank shall be subject to any visitorial powers except as authorized by Federal law." Does this statute, which preempts state laws of general application that conflict with the letter or purposes of the NBA, also apply to operating subsidiaries of National Banks?
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