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#909936 - 02/25/08 07:34 PM regulatory notification
kira Offline
100 Club
Joined: Jul 2006
Posts: 219
Does a bank need to notify its regulator or the state when it opens a loan production office in a different state?

I seems to me they should, but can't find anything on it.

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General Discussion
#909958 - 02/25/08 07:55 PM Re: regulatory notification kira
waldensouth Offline
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waldensouth
Joined: Nov 2001
Posts: 7,983
FINALLY ABOVE the gnat line
If it's a true LPO (they only take applications - no credit decisions, no loan closings, no loan disbursements)then no notification is required. Otherwise - you'll need a branch application.
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My Opinion Only.

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#909967 - 02/25/08 07:59 PM Re: regulatory notification waldensouth
kira Offline
100 Club
Joined: Jul 2006
Posts: 219
thanks for the info

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#910163 - 02/25/08 10:52 PM Re: regulatory notification kira
Pale Rider Offline
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Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
it may depend on your primary state regulator, you may want to post this in a state specific forum or identify your state here (of course this assumes you are a state chartered financial institution)
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