June 17, 2020

OCC: Bank Preemption from COVID-19 Relief Programs

OCC Bulletin 2020-62| June 17, 2020


Federal, state, and local governments have taken many actions to respond to the economic disruption caused by the spread of COVID-19. While the Office of the Comptroller of the Currency (OCC) recognizes that a wide range of stakeholders, including state and local governments, have an important role to play in the country’s COVID-19 response, the agency reminds stakeholders that banks1 are governed primarily by uniform federal standards.

This bulletin applies to community banks.


Consistent with these principles of federal preemption, the OCC encourages states and localities to expressly exempt federally chartered banks from their laws and invites states and localities to reach out to the OCC with any concerns.

Further Information

Please contact Andra Shuster, Senior Counsel, Karen McSweeney, Special Counsel, or Priscilla Benner, Senior Attorney, Chief Counsel’s Office, at (202) 649-5490.

This post was originally published here.