OCC Interpretive Page 540 [1990-1991 Import Binder] Fed. Banking L. Agent. (CCH) 83,252, 1990 WL 364928, 1990 LEXIS 58 (December a dozen, 1990).
Select OCC Interpretive Page 720 (January twenty-six, 1996), OCC Interpretive Page 659 (March 31, 1995), OBRE Interpretive Letter 91-thirteen (June 24, 1991).
Credit cards Financial may material handmade cards privately or thanks to a beneficial part
Specific restrictions toward percentage preparations apply. OCC Interpretive Letter dated February 31, 1987, 1987 WL 149769; OCC Interpretive Letter 330 [1985-1987 Import Binder] Given. Financial L. Associate. (CCH) 85,five-hundred, 1985 WL 73123, 1985 LEXIS 11 (March 21, 1985); OCC Interpretive Letter 152 [1981-1982 Transfer Binder] Fed. Financial L. Associate. (CCH) 85,233, 1980 WL 42024, 1980 LEXIS 24 (June 17, 1980); OCC Interpretive Letter nine [1978-1979 Transfer Binder] Provided. Financial L. Representative. (CCH) 85,084, 1977 WL 23304, 1977 LEXIS 1 (December twenty eight, 1977); OCC Interpretive Letter dated November 21, 1977, [1978-1979 Transfer Binder] Provided. Banking L. Rep. (CCH) 85,069; OCC Interpretive Letter 8 [1978-1979 Transfer Binder] Given. Financial L. Associate. (CCH) 85,083, 1977 WL 23303, 1977 LEXIS 6 (December 23, 1977); OCC Interpretive Page 18 [1978-1979 Import Binder] Given. Banking L. Associate. (CCH) 85,093, 1978 WL 21867, 1978 LEXIS 47 ( in order to remind loan officials to sell borrowing from the bank life insurance policies permissible in the event the it abides by OCC advice. OCC Interpretive Letter 45 [19781979 Transfer Binder] Provided. Financial L. Agent. (CCH) 85,120, 1978 WL 21841, 1978 LEXIS 31 (Can get fifteen, 1978); OCC Interpretive Page twenty-six [1978-1979 Transfer Binder] Given. Financial L. Agent. (CCH) 85,101, 1978 WL 21825, 1978 LEXIS 38 (February twenty-seven, 1978). Financial could possibly get act as representative with the profit regarding borrowing existence insurance coverage and you can discovered money when it comes to earnings as well as compensation to own functions made. It can also to get a team borrowing life insurance policy and give visibility in order to financing customers. 12 C.F.Roentgen. 2.4, 2.6.
Borrowing from the bank Life insurance policies – Underwriting off Lender could possibly get acquire, just like the a functional subsidiary, an insurance company which is involved with the company off underwriting, while the a beneficial reinsurer, credit life and you will borrowing crash and you can medical insurance about the loans created by the financial institution and its subsidiaries. OCC Interpretive Letter 277 [1983-1984 Import Binder] Provided. Financial L. Coaling cash loan Representative. (CCH) 85,441, 1983 WL 54162, 1983 LEXIS 22 (December 21, 1983).
Borrowing from the bank Term life insurance and you will Handicap Insurance coverage Through Part Bank’s subsidiary could possibly get act as agent having borrowing from the bank lifetime and you can handicap insurance provided that since the insurance policy is offered in combination on financing produced because of the lender. OCC Interpretive Page 495 [1989-1990 Transfer Binder] Fed. Banking L. Associate. (CCH) 83,084, 1989 WL 303705, 1989 LEXIS 100 (December twenty two, 1989); OCC Interpretive Letter 283 [1983-1984 Transfer Binder] Provided. Financial L. Representative. (CCH) 85,447, 1984 WL 63791, 1984 LEXIS 37 (March sixteen, 1984).
Borrowing Life insurance – Income regarding Bank can get act as agent towards sale out-of decreasing coverage because of its mortgage users due to the fact a type from borrowing life insurance policies
Harvest Insurance coverage Bank can offer, because the representative, crop insurance coverage (i.e. several peril crop insurance policies and you will hail/fire insurance) about the financing to help you their farmer customers. OCC Interpretive Letter 812 (December 29, 1997).
Currency Choice Bank’s performing part can get act as an agent-dealer and you can business inventor away from replace-exchanged solutions towards foreign exchange so it normally play trading because of its individual account, the account of your own financial, while the profile regarding consumers. OCC Interpretive Letter 372 [1985-1987 Import Binder] Provided. Financial L. Agent. (CCH) 85,542, 1986 WL 85085, 1986 LEXIS 16 (November seven, 1986); OCC Interpretive Page 390 [1988-1989 Transfer Binder] Fed. Banking L. Agent. (CCH) 85,614, 1987 WL 154120, 1987 LEXIS twenty-five (July twenty-eight, 1987); OCC Interpretive Page 384 [1988-1989 Import Binder] Provided. Financial L. Associate. (CCH) 85,608, 1987 WL 154129, 1987 LEXIS 15 (Can get 19, 1987).