[FLT-bird]

Banks are subject to state laws in every state they operate in. Ask me how I know.

[Wallace T.]

National banks are subject to state laws in areas not covered by Federal law, e.g., usury laws and foreclosure rules. The Federal government has had the power to charter national banks independent from state governments, since the National Bank Act in 1862. For example, the state of Texas did not charter commercial banks until 1903, but national banks were operating in Texas from about 1866. JPMorgan or Wells Fargo need no more permission from a state government than Wal-Mart or McDonald's.