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Lending Office Issuing Cashier's Checks

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Is there any regulation preventing a bank from having a lending office only issue cashier's checks without becoming a limited servicing branch?

You will need to check your state law for guidance on loan production offices. Normally (through OCC and FDIC interpretations) an LPO cannot disburse loan proceeds or conduct any other type of business such as accepting deposits or cashing checks.

First published on 11/24/08

First published on 11/24/2008

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Filed under lending as: 

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