Capital Briefs: Texas Bank Group Sues OCC over 30-Mile Rule

Texas Banking Commissioner Catherine A. Ghiglieri has decided to take on the Comptroller's office in her legal fight to keep banks from using the 30-mile rule to move into the state.

On Thursday, the Texas Department of Banking sued the national bank regulator, claiming the agency's decision to allow an Arkansas bank to move into her state violates federal and state law prohibiting interstate branching.

Commercial National of Texarkana had used the 30-mile rule, a provision of the National Bank Act, to move its headquarters from Texarkana, Ark., to Texarkana, Tex., while keeping its Arkansas main office as a branch.

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