(R.S. § 5155; Feb. 25, 1927, ch. 191, § 7,44 Stat. 1228; June 16, 1933, ch. 89, § 23,48 Stat. 189; Aug. 23, 1935, ch. 614, title III, § 305,49 Stat. 708; July 15, 1952, ch. 753, § 2(b),66 Stat. 633; Pub. L. 87–721, Sept. 28, 1962, 76 Stat. 667; Pub. L. 103–328, title I, §§ 102(b)(1),
(a),Sept. 29, 1994, 108 Stat. 2349, 2352; Pub. L. 104–208, div. A, title II, §§ 2204,
(a),Sept. 30, 1996, 110 Stat. 3009–405; Pub. L. 105–24, § 2(b),July 3, 1997, 111 Stat. 239; Pub. L. 111–203, title VI, § 613(a),July 21, 2010, 124 Stat. 1614.)
References in Text
of this title, referred to in subsec. (d), was subsequently amended, and subsec. (f)(6) ofsection
no longer defines the term “interstate merger transaction”. However, such term is defined elsewhere in that section.
Section 25 of the Federal Reserve Act, as amended, referred to in subsec. (k), is classified to subchapter I (§ 601 et seq.) of chapter
of this title.
R.S. § 5155 derived from act Mar. 3, 1865, ch. 78, § 7,13 Stat. 484
2010—Subsec. (g)(1)(A). Pub. L. 111–203
amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “there is in effect in the host State a law that—
“(i) applies equally to all banks; and
“(ii) expressly permits all out-of-State banks to establish de novo branches in such State; and”.
1997—Subsec. (f)(1)(C). Pub. L. 105–24
added subpar. (C).
1996—Subsec. (h). Pub. L. 104–208
, § 2204, struck out subsec. (h) which read as follows: “The aggregate capital of every national banking association and its branches shall at no time be less than the aggregate minimum capital required by law for the establishment of an equal number of national banking associations situated in the various places where such association and its branches are situated.”
Subsec. (j). Pub. L. 104–208
, § 2205(a), inserted at end “The term ‘branch’, as used in this section, does not include an automated teller machine or a remote service unit.”
1994—Subsecs. (d) to (f). Pub. L. 103–328
, § 102(b)(1)(B), added subsecs. (d) to (f). Former subsecs. (d) to (f) redesignated (h) to (j), respectively.
Subsec. (g). Pub. L. 103–328
, § 103(a), added subsec. (g).
Pub. L. 103–328
, § 102(b)(1)(A), redesignatedsubsec. (g) as (k).
Subsecs. (h) to (l). Pub. L. 103–328
, § 102(b)(1)(A), redesignatedsubsecs. (d) to (h) as (h) to (l), respectively.
1962—Subsec. (b). Pub. L. 87–721
substituted provisions permitting a national bank resulting from the conversion of a State bank to retain and operate as a branch any office which was a branch of the State bank immediately prior to conversion if such office might be established as a new branch of the resulting national bank, and is approved by the Comptroller for continued operation as a branch of the resulting bank, or any office which was a branch of any bank on Feb. 25, 1927, or any office which is approved by the Comptroller for continued operation as a branch, and a national bank resulting from consolidation of a national bank under whose charter the consolidation is effected with another bank or banks to retain and operate any office which, immediately prior to consolidation, was in operation as a main office or branch office of any bank (other than the national bank) participating in the consolidation if it might be established as a new branch of the resulting bank, and if the Comptroller approves of its continued operation, or was in operation as a branch of any bank participating in the consolidation and which, on Feb. 25, 1927, was in operation as a branch of any bank, or was in operation as a branch of the national bank and which, on Feb. 25, 1927, was not in operation as a branch of any bank, if the Comptroller approves of its continued operation, for provisions which permitted State banks converted into or consolidated with national banking associations after Feb. 25, 1927, or two or more national banking associations which are consolidated, to retain and operate only those branches which may have been in lawful operation on Feb. 25, 1927, and inserted provisions prohibiting the Comptroller from granting approval under clauses (1)(C) and (2)(C) if a State bank resulting from the conversion or consolidation would be prohibited by law of the State from retaining and operating as a branch an identically situated office which was a branch of the national bank or State bank immediately prior to the conversion or consolidation.
1952—Subsec. (c). Act July 15, 1952, struck out the minimum capital requirement for the establishment of branches by national banks.
1935—Subsec. (c). Act Aug. 23, 1935, inserted second sentence and substituted “Except as provided in the immediately preceding sentence, no” for “No” in last sentence.
1933—Subsecs. (c), (d). Act June 16, 1963, amended subsecs. (c) and (d).
1927—Act Feb. 25, 1927, amended section generally.
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–203
effective 1 day after July 21, 2010, except as otherwise provided, see section 4 ofPub. L. 111–203
, set out as an Effective Date note under section
of this title.
Exception as to Transfer of Functions
Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section
of this title.
Right of State To Opt Out
Nothing in Pub. L. 105–24
to alter right of States under section 525 ofPub. L. 96–221
, see section 3 ofPub. L. 105–24
, set out as a note under section
of this title.
Applicability of McFadden Act to Present Financial Environment; Report and Recommendations by President to Congress
Pub. L. 95–369
, § 14,Sept. 17, 1978, 92 Stat. 625
, provided for a report to Congress by the President, not later than one year after Sept. 17, 1978, containing recommendations concerning the applicability of the McFadden Act [Feb. 25, 1927, ch. 191, 44 Stat. 1224
] to the then current financial, banking, and economic environment.