Banking organizations in the United States have long been subject to two broad categories of regulatory standards. The first is permissive: a "positive" grant of rights and privileges, typically via a charter for a corporate entity, to engage in the business of banking

After the 2008 financial crisis, reforms to financial regulation in the United States developed with an apparent contradiction at their core: While those reforms embraced cooperative international measures, they simultaneously imposed more stringent safeguards on foreign banks opening on...