12 U.S.C. § 1863
Permissible bank service company activities for depository institutions
Without regard to the provisions of sections 1864 and 1865 of this title, an insured depository institution may invest in a bank service company that performs, and a bank service company may perform, the following services only for depository institutions: check and deposit sorting and posting, computation and posting of interest and other credits and charges, preparation and mailing of checks, statements, notices, and similar items, or any other clerical, bookkeeping, accounting, statistical, or similar functions performed for a depository institution.
Notes of Decisions
Cited in 1
case, 2003–2003 · leading case: Reyn's Pasta Bella, LLC v. Visa U.S.A., Inc.
Reyn's Pasta Bella, LLC v. Visa U.S.A., Inc. (2003)
“Plaintiffs allege that the services performed by Mastercard and Visa exceed the limits on the activities that a bank service company may perform for a bank under 12 U.S.C. § 1863 . (FAC at ¶ 20(c).) Plaintiffs also allege that defendant banks’ acquired stock in Master-card and…”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.