Us Code § 5553 - Preservation of existing contracts
Full text of Us Code United States Code § 5553 — Preservation of existing contracts, with citation guidance and answers to common questions.
§ 5553. Preservation of existing contracts
This title,1 and regulations, orders, guidance, and interpretations prescribed, issued, or established by the Bureau, shall not be construed 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 July 21, 2010, 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.
(Pub. L. 111–203, title X, §1043, July 21, 2010, 124 Stat. 2014.)
Editorial Notes
References in Text
This title, referred to in text, is title X of Pub. L. 111–203, July 21, 2010, 124 Stat. 1955, known as the Consumer Financial Protection Act of 2010, which enacted this subchapter and enacted, amended, and repealed numerous other sections and notes in the Code. For complete classification of title X to the Code, see Short Title note set out under section 5301 of this title and Tables.
Statutory Notes and Related Subsidiaries
Effective Date
Section effective on the designated transfer date, see section 1048 of Pub. L. 111–203, set out as a note under section 5551 of this title.
1 See References in Text note below.
Part E—Enforcement Powers
About This Section
12 U.S.C. § 5553 is part of Title 12 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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