Official Summary

1/25/2011--Introduced.Indian Reservation Bank Branch Act of 2009 [sic] - Amends the Federal Deposit Insurance Act and the Revised Statutes of the United States to set forth conditions under which Indian tribes may permit branching of banks on Indian reservations. Permits approval of a stat

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Official Summary

1/25/2011--Introduced.Indian Reservation Bank Branch Act of 2009 [sic] - Amends the Federal Deposit Insurance Act and the Revised Statutes of the United States to set forth conditions under which Indian tribes may permit branching of banks on Indian reservations. Permits approval of a state bank application to establish and operate a de novo branch within the boundaries of one or more Indian reservations (regardless of whether the Indian reservations are located within the state bank's home state), if the host reservation enacts a law meeting specified requirements. Exempts such a state bank from certain requirements and conditions governing an application for an interstate merger transaction. Prohibits specified state nonmember banks that establish or operate a branch on Indian reservations, except in certain circumstances, from establishing additional branches outside of such reservations in any state in which the Indian reservation is located. Amends the Revised Statutes of the United States to authorize the Comptroller of the Currency to approve an application of a national bank to establish and operate a de novo branch within the boundaries of an Indian reservation, subject to the same requirements, conditions, and prohibitions of this Act with regard to state banks.

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