OCC Opinions and Letters on Permissible Electronic Banking Activities: Correspondent Banking

OCC publishes letters associated with charter approvals and other licensing activities, including interpretive letters. Some of these letters provide interpretations of existing laws and regulations. This section includes significant approval letters and interpretations associated with Internet banking activities. The following is a listing of topics in this section that also serve as quick links to the referenced materials:

Description	Opinions & Letters
Citizens National Bank, Corporate Decision No. 2000-08 (June 1, 2000). A national bank may provide to other financial institutions on a wholesale basis with merchant web hosting services so that those institutions may offer such services for resale to their merchant customers.	Corporate Decision No. 2000-08 (PDF)
Peoples NB, Interpretive Letter No. 754 (November 6, 1996). A national bank operating subsidiary may sell computer network services and related hardware to other financial institutions as a correspondent banking service and, thus, part of the business of banking. The letter also concludes that the subsidiary's sale of full function hardware as part of a package of network services is "incidental" to those correspondent services.	Interpretive Letter No. 754 (PDF)

Description

Opinions & Letters

Citizens National Bank, Corporate Decision No. 2000-08 (June 1, 2000). A national bank may provide to other financial institutions on a wholesale basis with merchant web hosting services so that those institutions may offer such services for resale to their merchant customers.

Corporate Decision
No. 2000-08 (PDF)

Peoples NB, Interpretive Letter No. 754 (November 6, 1996). A national bank operating subsidiary may sell computer network services and related hardware to other financial institutions as a correspondent banking service and, thus, part of the business of banking. The letter also concludes that the subsidiary's sale of full function hardware as part of a package of network services is "incidental" to those correspondent services.

Interpretive Letter
No. 754 (PDF)