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Wholesale and Limited Purpose Banks under the Community Reinvestment Act

As of January 1, 2019

Under the Community Reinvestment Act, a bank may apply to its primary federal regulator to be designated a wholesale or a limited purpose bank. Such banks are evaluated for performance under standards found at 12 CFR 25.25. The regulation offers the following definitions:

Limited purpose bank means a bank that offers only a narrow product line (such as credit card or motor vehicle loans) to a regional or broader market and for which a designation as a limited purpose bank is in effect.

Wholesale bank means a bank that is not in the business of extending home mortgage, small business, small farm, or consumer loans to retail customers, and for which a designation as a wholesale bank is in effect.

The following banks are currently designated as limited purpose banks:

Bank Name City State Charter Number Decision Date
American Express Bank, FSB Salt Lake City UT 715648 10/12/2006
Capital One Bank (USA), National Association Glen Allen VA 24828 2/26/2008
Cedar Hill National Bank Lawrenceville GA 23323 9/11/1997
Chase Bank USA N.A Wilmington DE 23160 8/13/09
Credit First National Association Brook Park OH 22594 1/31/1996
Credit One Bank, National Association (f/k/a First National Bank of Marin Las Vegas NV 20291 6/28/1996
Department Stores National Bank* Sioux Falls SD 24622 10/21/2005
DSRM National Bank Albuquerque NM 23097 6/28/1996
HSBC Trust Company (Delaware), National Association Wilmington DE 24601 9/29/2006
RBC Bank (Georgia), National Association (f/k/a First Gulf Bank, National Association) Atlanta GA 23416 8/28/2008
Synchrony Draper UT 715044 5/1/2009
TCM Bank, National Association Tampa FL 23363 9/11/1997
Wells Fargo Financial National Bank Las Vegas NV 21099 7/9/1997
Wilmington Trust, National Association (f//k/a M&T Bank, National Association) Wilmington DE 22859 3/12/1996

* Also operates under a CRA Strategic Plan.

 

The following banks have been designated as wholesale banks by the OCC:

Bank Name City State Charter Number Decision Date
Bank of China New York NY 80028 10/18/1996
Bank of China New York NY 80091 10/18/1996
BNY Mellon, National Association (f/k/a Mellon Bank, National Association) Pittsburgh PA 6301 7/19/2002
California First National Bank Irvine CA 23925 4/13/2000
Delta National Bank and Trust Company New York NY 20547 5/16/1996
Morgan Stanley Bank, N.A. Salt Lake City UT 24908 3/10/2009
M.Y Safra Bank, FSB New York NY 715731 6/5/2000
Pacific National Bank Miami FL 20010 4/20/2011
Prudential Bank and Trust, FSB Hartford CT 708672 7/7/1998
Safra National Bank of New York New York NY 20948 5/21/1997
Wells Fargo Bank Northwest, National Association Ogden UT 2597 12/8/2003