Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994

Definition

Legislation that allowed national banks to set up branches across the nation. Due to interstate laws, banks were previously not allowed to conduct business outside of their state unless they had established a subsidiary of some sort in the state that the deposits were coming from. States that did not want to participate in the interstate branching program were permitted to do so by passing laws before June 1, 1997 to prevent the branches from being established in their states.

单词	Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994
释义	Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 Definition Legislation that allowed national banks to set up branches across the nation. Due to interstate laws, banks were previously not allowed to conduct business outside of their state unless they had established a subsidiary of some sort in the state that the deposits were coming from. States that did not want to participate in the interstate branching program were permitted to do so by passing laws before June 1, 1997 to prevent the branches from being established in their states.
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