Page:United States Statutes at Large Volume 124.djvu/2040

 124 STAT. 2014 PUBLIC LAW 111–203—JULY 21, 2010 (ii) be heard on all matters arising in the action; and (C) appeal any order or judgment, to the same extent as any other party in the proceeding may. (c) REGULATIONS.—The Bureau shall prescribe regulations to implement the requirements of this section and, from time to time, provide guidance in order to further coordinate actions with the State attorneys general and other regulators. (d) PRESERVATION OF STATE AUTHORITY.— (1) STATE CLAIMS.—No provision of this section shall be construed as altering, limiting, or affecting the authority of a State attorney general or any other regulatory or enforcement agency or authority to bring an action or other regulatory proceeding arising solely under the law in effect in that State. (2) STATE SECURITIES REGULATORS.—No provision of this title shall be construed as altering, limiting, or affecting the authority of a State securities commission (or any agency or office performing like functions) under State law to adopt rules, initiate enforcement proceedings, or take any other action with respect to a person regulated by such commission or authority. (3) STATE INSURANCE REGULATORS.—No provision of this title shall be construed as altering, limiting, or affecting the authority of a State insurance commission or State insurance regulator under State law to adopt rules, initiate enforcement proceedings, or take any other action with respect to a person regulated by such commission or regulator. SEC. 1043. PRESERVATION OF EXISTING CONTRACTS. This title, and regulations, orders, guidance, and interpretations prescribed, issued, or established by the Bureau, shall not be con- strued to alter or affect the applicability of any regulation, order, guidance, or interpretation prescribed, issued, and established by the Comptroller of the Currency or the Director of the Office of Thrift Supervision regarding the applicability of State law under Federal banking law to any contract entered into on or before the date of enactment of this Act, by national banks, Federal savings associations, or subsidiaries thereof that are regulated and supervised by the Comptroller of the Currency or the Director of the Office of Thrift Supervision, respectively. SEC. 1044. STATE LAW PREEMPTION STANDARDS FOR NATIONAL BANKS AND SUBSIDIARIES CLARIFIED. (a) IN GENERAL.—Chapter one of title LXII of the Revised Statutes of the United States (12 U.S.C. 21 et seq.) is amended by inserting after section 5136B the following new section: ‘‘SEC. 5136C. STATE LAW PREEMPTION STANDARDS FOR NATIONAL BANKS AND SUBSIDIARIES CLARIFIED. ‘‘(a) DEFINITIONS.—For purposes of this section, the following definitions shall apply: ‘‘(1) NATIONAL BANK.—The term ‘national bank’ includes— ‘‘(A) any bank organized under the laws of the United States; and ‘‘(B) any Federal branch established in accordance with the International Banking Act of 1978. ‘‘(2) STATE CONSUMER FINANCIAL LAWS.—The term ‘State consumer financial law’ means a State law that does not directly or indirectly discriminate against national banks and that 12 USC 25b. 12 USC 5553.