SF0135 • 2025

Defense of state banking-1.

AN ACT relating to banks, banking and finance; allowing the attorney general to take action to defend the state's interest in the dual banking system; providing legislative findings; and providing for an effective date.

Inactive

Wyoming marks this bill as inactive, which usually means it is no longer moving in the current session.

Sponsor: Senator Rothfuss
Last action: 2025-03-03
Official status: inactive
Effective date: 3/1/2025

Plain English Breakdown

The official source material does not provide specific details on what actions the attorney general can take beyond those deemed necessary.

Defense of State Banking

The bill allows the attorney general to take action to defend Wyoming's interest in its dual banking system and investigate claims by state-chartered banks about unfair treatment from federal or other states' regulators.

What This Bill Does

Allows the attorney general to investigate allegations of unlawful disparate treatment by federal or other states' regulators against Wyoming state chartered banks.
Authorizes the attorney general to take necessary actions to defend Wyoming's interest in its dual banking system and ensure fair treatment for Wyoming state-chartered banks.

Who It Names or Affects

The Attorney General of Wyoming
Wyoming state chartered banks
Federal and other state financial regulators

Terms To Know

Dual Banking System: A system where both federal and state governments have the authority to charter and regulate banks.
Attorney General: The chief legal officer of a state who represents the state in legal matters.

Limits and Unknowns

It is unclear what specific actions the attorney general can take beyond those deemed necessary.
The bill was marked as inactive, meaning it did not pass in its current session.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

SF0135SS001

Standing Committee • Senate Minerals, Business and Economic Development

Adopted

Plain English: The amendment changes the bill from requiring the attorney general to take specific actions to defending the state's interest in the banking system by allowing more flexibility.

Changes 'requiring' to 'allowing' on page 1, line 1.
Replaces 'shall' with 'may' on page 3, line 18.
Substitutes 'is authorized to' for 'shall' on page 3, line 21.

The amendment does not provide details about how the changes will affect the attorney general's actions in practice.

Bill History

2025-03-03 House
H:Died in Committee Returned Bill Pursuant to HR 5-4
2025-02-28 House
H No report prior to CoW Cutoff
2025-02-13 House
H Introduced and Referred to H09 - Minerals
2025-02-04 House
H Received for Introduction
2025-02-03 Senate
S 3rd Reading:Passed 30-1-0-0-0
2025-01-31 Senate
S 2nd Reading:Passed
2025-01-30 Senate
S COW:Passed
2025-01-29 Senate
S Placed on General File
2025-01-29 Senate
S09 - Minerals:Recommend Amend and Do Pass 5-0-0-0-0
2025-01-24 Senate
S Introduced and Referred to S09 - Minerals
2025-01-20 Senate
S Received for Introduction
2025-01-17 LSO
Bill Number Assigned

Current Bill Text

Read the full stored bill text

25LSO-0693
2025
STATE OF WYOMING
25LSO-0693
ENGROSSED
3.0

SENATE FILE NO. SF0135

Defense of state banking-1.

Sponsored by: Senator(s) Rothfuss, Nethercott and Olsen and Representative(s) Andrew, Singh and Yin

A BILL

for

Be It Enacted by the Legislature of the State of Wyoming:

Section 1
.

When federal financial regulators overreach or abuse their authority in the regulation of Wyoming state chartered banks, the harm extends not only to the bank, but the state of Wyoming itself. Wyoming has developed innovative and rigorous banking laws which have encouraged financial institutions to locate within the state and increased revenue to the state. Federal overreach decreases revenue to the Wyoming division of banking, decreases state revenue and drives out financial institutions.

Section 2
.

W.S. 13
‑
1
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901 is created to read:

ARTICLE 9
DEFENSE OF STATE BANKING

13
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1
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901.

Attorney general authorization to defend the state's banking interests.

(a)

The legislature finds and declares that:

(i)

A dual banking system has existed in the United States since the enactment of the federal National Banking Act of 1863. The current regulatory structure includes a state agency from each state that serves as the chartering authority and primary regulator for state banking licensees. The dual banking system has allowed individual states to be responsive to the banking needs of their citizens resulting in a variety of new products and services over the years. The dual banking system has mitigated the tendency of regulators to stifle innovation and restrict new entrants into the banking industry. Recent events suggest this may no longer be the case;

(ii)

In order for the dual banking system to succeed, state and nationally chartered banks must be fairly treated under the law, without undue regard to the origin of a bank's charter, political inclinations or any other concerns beyond the explicit scope of the law;

(iii)

The state of Wyoming has an interest in ensuring that its laws authorizing state chartered banks are given due consideration by other states and the United States, and that Wyoming chartered state banks are treated fairly by regulatory authorities to the extent any disparate treatment is caused by Wyoming's innovative but lawful banking laws.

(b)

The attorney general may investigate any allegation by a Wyoming state chartered bank of unlawful disparate treatment by federal or other states' regulators. The attorney general is authorized to take any available action deemed necessary to defend Wyoming's interest in the dual banking system and its interest in assuring that similarly situated Wyoming state chartered banks are fairly treated by other regulatory authorities in the same manner as a nationally chartered or other state chartered bank.

Section 3
.

This act is effective July 1, 2025
.

(END)

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SF0135