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DIDMCA

   Also found in: Financial, Wikipedia 0.01 sec.
AcronymDefinition
DIDMCADepository Institutions Deregulation and Monetary Control Act


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76) DIDMCA also extended the ability of national banks (those regulated by the OCC) to be governed only by the usury limits of their home state to most other types of depository institutions.
20) While DIDMCA removed the states' usury caps, it did not create nationwide usury ceilings or any other mechanism to deal with predatory lending issues that the states' usury laws had prevented.
[Chernow 1991] The events preceding the enactment of DIDMCA suggested that the period of effective government regulation of interest rates was over.
 
 
 
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