12 CFR 7.5009 – Location under 12 U.S.C. 85 of national banks operating exclusively through the Internet
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For purposes of 12 U.S.C. § 85, the main office of a national bank that operates exclusively through the Internet is the office identified by the bank under 12 U.S.C. § 22(Second) or as relocated under 12 U.S.C. § 30 or other appropriate authority.
Terms Used In 12 CFR 7.5009
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC