Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 320 - POWERS INCIDENTAL AND GERMANE TO CARRYING ON A GENERAL BANKING BUSINESS
Section 320.30 - Factors to be Considered
Universal Citation: 38 IL Admin Code ยง 320.30
Current through Register Vol. 48, No. 12, March 22, 2024
a) The following factors are relevant, if applicable, in determining whether an activity is incidental and germane to carrying on a general banking business.
1) Is the activity convenient or useful in
connection with the performance of one of the bank's established activities
pursuant to its express powers under the Act (i.e., selling traveler's checks,
issuing credit cards, issuing license plates)?
2) Is the activity related to ordinary,
traditional bank functions (i.e., lending money, paying checks and accepting
deposits)?
3) To what extent do
other banks participate in this activity?
4) Has the Board of Governors of the Federal
Reserve System found the activity appropriate for non-bank subsidiaries of a
bank holding company pursuant to
12 U.S.C.
1843(c)(8) ?
b) In addition to the above-stated factors, the state bank may offer any other information to support a finding that a particular activity is incidental and germane to carrying on a general banking business.
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