 McFadden Act

The McFadden Act is a United States federal law, named after Louis Thomas McFadden, member of the United States House of Representatives and Chairman of the United States House Committee on Banking and Currency, enacted in 1927 from recommendations made by former Comptroller of the Currency Henry May Dawes.The Act sought to give national banks competitive equality with state-chartered banks by letting national banks branch to the extent permitted by state law.