Bank service company investments by a national bank or Federal savings association.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (d) (2) (3) (4) (5) (6) (e) (f) (2) (ii) A notice is eligible for expedited review if all of the following requirements are met: (A) The national bank or Federal savings association is well capitalized and well managed; and (B) The bank service company engages only in activities that are permissible for the bank service company under 12 U.S.C. 1864 and that are listed in § 5.34(f)(5) or § 5.38(f)(5), as applicable. (3) (4) (5) (g) (1) The name and location of the bank service company; (2) A complete description of the activities the bank service company will conduct and a representation and undertaking that the activities will be conducted in accordance with OCC guidance. To the extent the notice relates to the initial affiliation of the national bank or Federal savings association with a company engaged in insurance activities, the national bank or Federal savings association should describe the type of insurance activity that the company is engaged in and has present plans to conduct. The national bank or Federal savings association also must list for each State the lines of business for which the company holds, or will hold, an insurance license, indicating the State where the company holds a resident license or charter, as applicable; (3) A complete description of the national bank's or Federal savings association's investment in the bank service company and information demonstrating that the national bank or Federal savings association will comply with the in

official document · source cfr-2024 · id 12:§ 5.35