{
  "id": "RS22485",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "RS22485",
  "active": false,
  "source": "EveryCRSReport.com",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 341106,
      "date": "2007-04-20",
      "retrieved": "2016-04-07T18:10:38.409029",
      "title": "Watters v. Wachovia Bank, N.A.",
      "summary": "In Watters v. Wachovia Bank, the Supreme Court, in a 5-3 decision, ruled that Michigan mortgage lending requirements do not apply to a state-chartered operating subsidiary of a national bank. The decision was based on the Court\u2019s interpretation of various provisions of the National Bank Act, including provisions granting national banks the power to make real estate loans; the \u201cincidental powers\u201d clause, under which national banks have been authorized by the Office of the Comptroller of the Currency (OCC), the regulator of national banks, to conduct banking activities in operating subsidiaries; and a provision granting the OCC exclusive \u201cvisitorial\u201d powers over national banks. This report summarizes the rulings in the case and potential implications. This report will not be updated.",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": false,
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          "encoding": "utf-8",
          "url": "http://www.crs.gov/Reports/RS22485",
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          "url": "http://www.crs.gov/Reports/pdf/RS22485",
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      "topics": []
    }
  ],
  "topics": [
    "American Law"
  ]
}