A joint resolution providing for congressional disapproval under...
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to "Preemption Determination: State Interest-on-Escrow Laws".
This bill, SJR203, seeks to disapprove a specific rule from the Office of the Comptroller of the Currency regarding "Preemption Determination: State Interest-on-Escrow Laws." The rule deals with how state laws on interest paid on escrowed funds are treated when they conflict with federal regulations.
The bill, if passed, would primarily affect financial institutions, banking regulators, and state governments by influencing how they handle interest on escrowed funds. It would ensure that federal regulations do not override certain state laws.
Currently, the bill is in its early stages. It was introduced on July 29, 2026, and was referred to the Senate Committee on Banking, Housing, and Urban Affairs. Further actions will include committee reviews, possible amendments, and a vote by the full Senate.
