1.1 The Legal and Legislative Sources of Banking Law
U.S. banking law derives from multiple sources: constitutional provisions, federal and state statutes, administrative regulations, and common law (judicial decisions) . The American Bankers Association (ABA) Law and Banking course emphasises that understanding these sources enables bankers to more easily understand laws pertaining to bank products, services, and transactions . Key legislative acts include the National Bank Act, the Federal Reserve Act, the Banking Act of 1933 (Glass-Steagall), and more recent legislation such as the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010) .

1.2 The European Banking Authority and the Single Rulebook
In Europe, the European Banking Authority (EBA) is the EU authority working towards the creation of a single set of harmonised prudential rules (the Single Rulebook) to uniformly regulate the financial sector in all EU Member States, thereby contributing to the effective functioning of the European single market . The EBA has its seat in Paris and was established effective 1 January 2011. Its main tasks include:

• Contributing to the European Single Rulebook in the banking sector by developing technical standards and guidelines .

• Promoting convergence in supervisory practices .

• Assessing risks in the EU banking sector through risk analysis and stress testing .

• Overseeing third-party ICT services and issuance of e-money tokens under DORA and MiCAR .

1.3 Roles of the Judiciary and Regulatory Agencies
The judiciary interprets banking laws, while regulatory agencies implement and enforce them. In the U.S., key regulators include the Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) . In Europe, the EBA works alongside national competent authorities (NCAs) and the European Central Bank (ECB) to ensure consistent application of banking rules . The EBA’s Board of Supervisors is the supreme decision-making body, composed of heads of national supervisory authorities .

1.4 Common Law Principles and Their Application
Common law principles, derived from judicial decisions, form the bedrock of many banking relationships. Key common law doctrines include the banker-customer relationship, duties of care and confidentiality, and the law of contracts and torts . The ABA Law and Banking course covers these principles to help bankers understand the legal obligations and responsibilities when transacting business with customers .