---
kind: "section"
citation: "12 C.F.R. § 34.7"
title: "12"
number: "34.7"
heading: "OCC preemption determinations."
url: "https://uscodex.org/cfr/12/34.7"
---

# §34.7. OCC preemption determinations.

- (a) **Purpose.** This section codifies preemption determinations issued by the Office of the Comptroller of the Currency.
- (b) **Escrow.** The OCC has determined that Federal law preempts State laws that restrict a national bank's or Federal savings association's flexibility to decide whether and to what extent to pay interest or other compensation on funds placed in escrow accounts or assess fees for such accounts, including the following State laws:
  - (1) **California—** Cal. Civ. Code [sec. 2954.8](/cfr/12/2954.8.md);
  - (2) **Connecticut—** Conn. Gen. Stat. [sec. 49-2a](/cfr/12/49-2a.md);
  - (3) **Guam—** 11 Guam Code Ann. [sec. 106103](/cfr/12/106103.md);
  - (4) **Maine—** Me. Rev. Stat. Ann. tit. 9-B, [sec. 429](/cfr/12/429.md); Me. Rev. Stat. Ann. [tit. 33](/cfr/33.md), [sec. 504](/cfr/12/504.md);
  - (5) **Maryland—** Md. Code Ann., Com. Law secs. [12-109](/cfr/12/12-109.md), [12-109.2](/cfr/12/12-109.2.md);
  - (6) **Massachusetts—** Mass. Gen. L. ch. 183, [sec. 61](/cfr/12/61.md);
  - (7) **Minnesota—** Minn. Stat. Ann. [sec. 47.20](/cfr/12/47.20.md), subd. 9;
  - (8) **New York—** N.Y. Gen. Oblig. Law [sec. 5-601](/cfr/12/5-601.md);
  - (9) **Oregon—** Or. Rev. Stat. secs. [86.245](/cfr/12/86.245.md), [86.250](/cfr/12/86.250.md);
  - (10) **Rhode Island—** 19 R.I. Gen. Laws [sec. 19-9-2](/cfr/12/19-9-2.md);
  - (11) **United States Virgin Islands—** V.I. Code [tit. 9](/cfr/9.md), [sec. 67](/cfr/12/67.md);
  - (12) **Utah—** Utah Code Ann. [sec. 7-17-3](/cfr/12/7-17-3.md);
  - (13) **Vermont—** Vt. Stat. Ann. [tit. 8](/cfr/8.md), [sec. 10404](/cfr/12/10404.md); and
  - (14) **Wisconsin—** Wis. Stat. secs. [138.051](/cfr/12/138.051.md), [138.052](/cfr/12/138.052.md).

## Notes

### Amendments

[91 FR 29358, May 19, 2026]

### Source

Source: 61 FR 11300, Mar. 20, 1996, unless otherwise noted.

### Authority

Authority: 12 U.S.C. 1 et seq., 25b, 29, 93a, 371, 1462a, 1463, 1464, 1465, 1701j-3, 1828(o), 3331 et seq., 5101 et seq., 5412(b)(2)(B) and 15 U.S.C. 1639h.

### Amendments

[91 FR 29358, May 19, 2026]