US SB3889

Amends the Federal Deposit Insurance Act to allow states to opt out of federal interest rate preemption only for loans made by their own state-chartered depository institutions, not for out-of-state lenders

Amends the Federal Credit Union Act to provide the same opt-out limitation for state-chartered credit unions

Requires states to explicitly adopt a law or certify voter approval stating they do not want federal interest rate exportation rules to apply to their own chartered institutions

Repeals Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980, which previously governed state opt-out provisions

Applies retroactively to govern the legal effect of any state laws or certifications made under the prior opt-out framework before this Act's enactment