Here’s an interesting document from 2003 which describes a Bush era federal rules change that invalidated state laws limiting usurious and unsafe banking practices.
http://edocket.access.gpo.gov/2003/pdf/03-19906.pdf
Choice quotes:
A Federal district court in
Des Moines declared a longstanding
Iowa prohibition on ATM access fees to
be in conflict with the national bank
power to charge fees and therefore
preempted.26 For similar reasons, the
Fifth Circuit upheld a Federal district
court ruling that Federal law displaced
a Texas statute that prohibited the
charging of fees for cashing checks
drawn upon accounts at the payor
bank.27
Terms of real estate loans. The
OCC’s current regulations in subpart A
of part 34 address real estate lending
generally. Section 34.4(a) expressly
preempts state laws concerning five
areas of fixed-rate mortgage lending.
Section 34.4(a)(1) preempts state laws
concerning loan-to-value ratios. Section
34.4(a)(2) preempts state laws
concerning the schedule for repayment
of principal and interest. In this regard,
the key elements of any repayment
schedule are: (1) the timing of the
expected payments, and (2) the amount
of expected payments.43 Section
34.4(a)(3) preempts state laws
concerning the term to maturity of real
estate loans.44 Subpart B of part 34,
governing adjustable rate mortgages
(ARMs), states that national banks may
engage in ARM lending without regard
to any state law limitation.45
* Advertising. Courts have
consistently held that state laws limiting
the ability of a national bank to
advertise are preempted.46
* Permissible rates of interest. Federal
law establishes that national banks may
charge interest (both the rate and
amount 47) permitted by the state where
the bank is located without regard to the
laws of the state where the borrower is
located.48
* Permissible fees and non-interest
charges. Section 7.4002 of the OCC’s
rules outlines the framework for
national banks’ ability to impose noninterest
fees and charges; courts have
consistently held that state laws limiting
the ability of national banks to charge
such fees are preempted.49
* Management of credit accounts. The
OCC has taken the position that state
laws that interfere with a national
bank’s Federally-granted power to lend
and to engage in activities incidental to
its lending operations are preempted.