By Treasury Department, Comptroller of the Currency
AI Summary
The OCC is amending its rule to clarify the longstanding authority of national banks limited to trust company operations to engage in non-fiduciary activities. This change does not explicitly impact Texas credit unions but may provide broader operational flexibility for national banks.
Texas Relevance
The article does not mention Texas, TCUD, or any Texas-specific entities and the changes apply to national banks, not directly to Texas credit unions.
Original Content
The Office of the Comptroller of the Currency (OCC) is amending its rule related to chartering of national banks to clarify the longstanding authority of national banks limited to the operations of trust companies and activities related thereto to engage in non- fiduciary activities in addition to their fiduciary activities.