The OCC issued a corporate decision ("Decision #2012-10”) in which it approved a national bank’s application to establish messenger service branches in a number of counties in Minnesota. A “messenger service” under 12 CFR 7.1012(a) is any service used by a national bank to pick up from, and deliver to, specific customers at locations, such as homes and offices, items involving branching transactions, e.g. deposits and loan payments, between the bank and its customers. In Decision #2012-10, the OCC said that the national bank may operate the messenger service only in those locations where the national bank could legally establish a permanent branch under applicable federal and state law and only within the geographic areas where the newspaper notice of the establishment of the proposed messenger service branch was published.
Alert June 19, 2012