This legislation aims to clarify and restore the intent of federal interest rate exportation parity for state-chartered financial institutions. It amends the Federal Deposit Insurance Act and the Federal Credit Union Act to allow states to opt out of federal preemption regarding interest rates. Specifically, a state can choose to have federal interest rate preemption not apply to loans made by its own state-chartered banks and credit unions if it adopts a law or certifies a voter-approved provision explicitly stating this intent. This means that state-chartered institutions would then be subject to their state's interest rate laws, rather than being able to export the interest rates of their chartering state when lending across state lines. The bill also repeals Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980, and its amendments apply to existing state opt-out provisions made under that repealed section.