12 CFR 7.1004
§ 7.1004 Establishment of a loan production office by a national bank.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 7.1004, § 7.1004 Establishment of a loan production office by a national bank, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/42950
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Full text
(a) In general. A national bank or its operating subsidiary may engage in loan production activities at a site other than the main office or a branch of the bank. A national bank or its operating subsidiary may solicit loan customers, market loan products, assist persons in completing application forms and related documents to obtain a loan, originate and approve loans, make credit decisions regarding a loan application, and offer other lending-related services such as loan information and applications at a loan production office without violating 12 U.S.C. 36 and 12 U.S.C. 81, provided that “money” is not deemed to be “lent” at that site within the meaning of § 7.1003 and the site does not accept deposits or pay withdrawals.
(b) Services of other persons. A national bank may use the services of, and compensate, persons not employed by the bank in its loan production activities.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.