What are the U.S. banking laws?

The United States banking laws are primarily created and enforced by federal and state governments. In Delaware, the primary federal regulator for banks is the Office of the Comptroller of the Currency (OCC). The OCC enforces regulations that affect banks operating at the national level, including rules concerning consumer protection, capital adequacy, and safety and soundness. At the state level, the Delaware Department of Banking has authority to adopt and enforce regulations for banks operating in the state. These regulations typically relate to capital requirements, disclosure of information to customers, and the supervision and examination of banks. The Delaware State Bank Commissioner has authority to charter and regulate Delaware state-chartered banks and trust companies. All banks, both federal and state-chartered, must adhere to the USA PATRIOT Act, which requires banks to verify the identity of their customers as a safeguard against money laundering and terrorist financing. The USA PATRIOT Act also requires banks to develop and maintain programs to detect and report suspicious activity. In addition to the regulations issued by the OCC and the Delaware Department of Banking, banks must also comply with the laws of the state in which they are located. These laws may include usury laws, which limit the amount of interest that a bank can charge customers, or consumer protection laws, which set standards for banks to prevent predatory lending practices.

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What are the U.S. banking laws?

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