C.F.R. » Title 12 » CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY › PART 7—ACTIVITIES AND OPERATIONS › Subpart E—National Bank Electronic Activities

12 C.F.R. § 7.5007

Correspondent services

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It is part of the business of banking for a national bank to offer as a correspondent service to any of its affiliates or to other financial institutions any service it may perform for itself. The following list provides examples of electronic activities that banks may offer correspondents under this authority. This list is illustrative and not exclusive; the OCC may determine that other activities are permissible pursuant to this authority.

(a) The provision of computer networking packages and related hardware;

(b) Data processing services;

(c) The sale of software that performs data processing functions;

(d) The development, operation, management, and marketing of products and processing services for transactions conducted at electronic terminal devices;

(e) Item processing services and related software;

(f) Document control and record keeping through the use of electronic imaging technology;

(g) The provision of Internet merchant hosting services for resale to merchant customers;

(h) The provision of communication support services through electronic means; and

(i) Digital certification authority services.

Notes of Decisions
Cited in 1 case, 2011–2011 · leading case: U.S. Bank Natioinal Ass'n v. Schipper, 812 F. Supp. 2d 963 (S.D. Iowa 2011).
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U.S. Bank Natioinal Ass'n v. Schipper, 812 F. Supp. 2d 963 (S.D. Iowa 2011). · cites it 2× “OCC regulations clarify that national banks have the power to offer “to other financial institutions any service [the national bank] may perform for itself,” including the “development, operation, management, and marketing of products and processing services for transactions…”
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