Title 12

SECTION 7.1004

7.1004 Loans originating at facilities other than banking offices of a national bank.

§ 7.1004 Loans originating at facilities other than banking offices of a national bank. Link to an amendment published at 85 FR 83727, Dec. 22, 2020.

(a) General. A national bank may use the services of, and compensate persons not employed by, the bank for originating loans.

(b) Approval. An employee or agent of a national bank or of its operating subsidiary may originate a loan at a site other than the main office or a branch office of the bank. This action does not violate 12 U.S.C. 36 and 12 U.S.C. 81 if the loan is approved and made at the main office or a branch office of the bank or at an office of the operating subsidiary located on the premises of, or contiguous to, the main office or branch office of the bank.

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