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directly and specifically regulates the manner, content, or terms and conditions of any financial transaction (as may be author- ized for national banks to engage in), or any account related thereto, with respect to a consumer. ‘‘(3) OTHER DEFINITIONS.—The terms ‘affiliate’, ‘subsidiary’, ‘includes’, and ‘including’ have the same meanings as in section 3 of the Federal Deposit Insurance Act. ‘‘(b) PREEMPTION STANDARD.— ‘‘(1) IN GENERAL.—State consumer financial laws are pre- empted, only if— ‘‘(A) application of a State consumer financial law would have a discriminatory effect on national banks, in comparison with the effect of the law on a bank chartered by that State; ‘‘(B) in accordance with the legal standard for preemp- tion in the decision of the Supreme Court of the United States in Barnett Bank of Marion County, N. A. v. Nelson, Florida Insurance Commissioner, et al., 517 U.S. 25 (1996), the State consumer financial law prevents or significantly interferes with the exercise by the national bank of its powers; and any preemption determination under this subparagraph may be made by a court, or by regulation or order of the Comptroller of the Currency on a case- by-case basis, in accordance with applicable law; or ‘‘(C) the State consumer financial law is preempted by a provision of Federal law other than this title. ‘‘(2) SAVINGS CLAUSE.—This title and section 24 of the Federal Reserve Act (12 U.S.C. 371) do not preempt, annul, or affect the applicability of any State law to any subsidiary or affiliate of a national bank (other than a subsidiary or affiliate that is chartered as a national bank). ‘‘(3) CASE-BY-CASE BASIS.— ‘‘(A) DEFINITION.—As used in this section the term ‘case-by-case basis’ refers to a determination pursuant to this section made by the Comptroller concerning the impact of a particular State consumer financial law on any national bank that is subject to that law, or the law of any other State with substantively equivalent terms. ‘‘(B) CONSULTATION.—When making a determination on a case-by-case basis that a State consumer financial law of another State has substantively equivalent terms as one that the Comptroller is preempting, the Comptroller shall first consult with the Bureau of Consumer Financial Protection and shall take the views of the Bureau into account when making the determination. ‘‘(4) RULE OF CONSTRUCTION.—This title does not occupy the field in any area of State law. ‘‘(5) STANDARDS OF REVIEW.— ‘‘(A) PREEMPTION.—A court reviewing any determina- tions made by the Comptroller regarding preemption of a State law by this title or section 24 of the Federal Reserve Act (12 U.S.C. 371) shall assess the validity of such determinations, depending upon the thoroughness evi- LAWS dent in the consideration of the agency, the validity of the reasoning of the agency, the consistency with other valid determinations made by the agency, and other factorsPUBLIC with on anorris VerDate Nov 24 2008 10:40 Sep 02, 2010 Jkt 089139 PO 00203 Frm 00641 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 APPS06 PsN: PUBL203