...or acquire an operating subsidiary to conduct, or may conduct in an existing operating subsidiary, activities that are part of or incidental to the business of banking, as determined by the Comptroller of the Currency, pursuant to 12 USC 24(Seventh), and 12 CFR Ch. i...

...engaging in the business of receiving deposits. Section 32 (12 USC § 78), prohibits officer, director, or employee interlocks between member banks and companies...The courts have affirmed that activities that are pan of, or incidental to, the business of banking are not prohibited by the Glass-Steagall Act." The...

...engaging in the business of receiving deposits. Section 32 (12 USC { 78), prohibits officer, director or employee interlocks between member banks and companies...in the securities activities listed in section 20. " 885 F.2d 1034 (2d Cir. 1989). cert, denied. 493 US 1070 (1990) CCJuke'). The court concluded that...

...engaging in the business of receiving deposits. Section 32 (12 USC { 78), prohibits officer, director or employee interlocks between member banks and companies that are primarily engaged in (be securities activities listed in section 20. 0 885 F.2d 1034 (2d Cir. 1989). cert, denied. 493 US...

...§24(Seventh) to authorize national banks to engage in activities, including insurance and insurance-related activities, that are part of or incidental to the business of banking. Decisions in two circuits — the District of Columbia and Eighth Circuits — support the OCC's interpretation....

...its Part 5 operating subsidiary rules, which will permit subsidiaries of national banks to engage in activities that are "part of or incidental to the business of banking," but not permissible for the parent bank to engage in directly. Although the OCC has not yet approved...

...interests in LLCs subject to four basic conditions: (1) the activities of the company must be limited to activities that are part of or incidental to the business of banking; (2) the bank must be able to prevent the company from engaging in activities that are not part of or...

...which a national bank may apply to the OCC for approval to establish an operating subsidiary to conduct activities that are part of or incidental to the business of banking but may differ from those the bank can conduct directly. It is important to stress that the revised...

...its rules at 12 CFR Part 5 to put in place a process for national banks to seek approval to engage in activities that are part of or incidental to the business of banking but that are different from those the bank may engage in directly. I believe it is critical that any...

...authority is derived from the powers sentence in 12 USC 24(Seventh). The subsidiary too may engage in activities that are part of or incidental to the business of banking within the meaning of 12 USC 24(Seventh). This may include in some instances an activity that its parent...