12 CFR 5.34 - Operating subsidiaries of a national bank

Cite as12 CFR 5.34
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82 practice notes
31 cases
  • Wachovia Bank, N.A. v. Burke, Docket No. 04-3770-CV.
    • United States
    • U.S. Court of Appeals — Second Circuit
    • July 11, 2005
    ...§ 484. The OCC, meanwhile, has issued regulations allowing national banks to conduct business through an operating subsidiary, see 12 C.F.R. § 5.34(e), and providing that "State laws apply to national bank operating subsidiaries to the same extent that those laws apply to the parent nationa......
  • Wells Fargo Bank N.A. v. Boutris, No. 03-16194.
    • United States
    • United States Courts of Appeals. United States Court of Appeals (9th Circuit)
    • August 12, 2005
    ...so long as the operating subsidiary form of organization cannot be used to evade the rules that apply to national banks. Under 12 C.F.R. § 5.34, the rule governing operating subsidiaries, such evasion is not permitted. See 12 C.F.R. § 5.34(e)(1) (providing that "[a] national bank may conduc......
  • Association of Banks in Ins., Inc. v. Duryee, No. C-2-98-1120.
    • United States
    • United States District Courts. 6th Circuit. United States District Courts. 6th Circuit. Southern District of Ohio
    • June 18, 1999
    ...of the Huntington Mortgage Company. Plaintiffs note that although federal law permits national banks to act through a subsidiary, see 12 C.F.R. § 5.34(d), § 92 does not require national banks to act through subsidiaries. Even assuming that the defendants' suggestion is accurate, it would se......
  • Watters v. Wachovia Bank, N.A., No. 05-1342.
    • United States
    • United States Supreme Court
    • April 17, 2007
    ...solely in activities the bank itself could undertake, and subject to the same terms and conditions as the bank. See § 24a(g)(3)(A); 12 CFR § 5.34(e). Respondent Wachovia Bank is an OCC-chartered national banking association that conducts its real estate lending business through respondent [......
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3 firm's commentaries
  • Debt Previously Contracted ('DPC') Investments: Equity By Accident Or Safe And Sound M&A For Lenders?
    • United States
    • Mondaq United States
    • August 3, 2018
    ...(bank permitted to establish operating subsidiary through which it would become minority member of limited liability company). 15 12 C.F.R. § 5.34(e)(2)(B). 16 See generally, OCC, Comptroller's Licensing Manual, "Subsidiaries and Equity Investments," p.2 (Oct. 2017). See also 12 C.F.R. § Th......
  • Commissioner Of Corporation’s Authority To Audit Is Preempted By Federal Law
    • United States
    • LexBlog United States
    • August 16, 2005
    ...estate lending licensing requirements as applied to operating subsidiaries of national banks were “field-preempted” by OCC regulation 12 C.F.R. § 5.34: “A state’s attempt to require advanced licensing before an operating subsidiary may engage in the activities covered by the Bank Act, inclu......
  • Financial Services Alert
    • United States
    • Mondaq United States
    • October 19, 2001
    ...subsidiary or commencing the activity (if the activity or activities are included in the broad list of permissible activities contained in 12 CFR 5.34 (e)(5)(v)). Accordingly, a Federal branch or agency can take a comparable action if it is well capitalized and well managed (using ROCA Stan......
1 forms
  • Interagency Bank Merger Act Application
    • United States
    • United States Forms Federal Deposit Insurance Corporation
    • Invalid date
    ...provide the information and analysis of the subsidiary's activities that would be required if it were established pursuant to 12 C.F.R. § 5.34 or FDIC 6220/01 (7-21) OMB No. for FDIC 3064-0015; Expiration Date: 07/31/2024 OMB No. for Federal Reserve 7100-0171; Expiration Date: 05/31/2024 OM......

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