FDIC Approves Proposed Rule on State Law Treatment for Out-of-State Banks

The Federal Deposit Insurance Corporation board approved a proposed rule that would establish equal treatment for out-of-state state-chartered banks and federal banks under applicable state law. According to Odaily, the rule would clarify which state laws apply when state-chartered banks operate across state lines, including innovative financial activities such as digital asset-related business. Wyoming Senator Cynthia Lummis said the proposal could provide new momentum for state banking systems and responsible innovation, including digital assets.