Deposit Advance Products Pose No Safety and Soundness Issues

<u>Deposit Advance Products Pose No Safety and Soundness Issues</u>

As stated, the OCC and FDIC have actually prefaced their proposed tips of deposit advance services and products on safety and soundness issues. Nonetheless, there clearly was evidence that is little offer the premise why these items pose any security and soundness dangers into the banking institutions that provide them. You will need to note some banks have actually provided deposit advance items for several years with small or no security and soundness issues, and we also are not sure regarding the foundation for the Agencies’ concerns over institutional security and soundness. Close regulatory examination of those services and products has yielded reasonably excellent results and, significantly, demonstrated that close working relationships between banking institutions and regulators may result in the growth of wise and reasonable services and products. Continue reading “Deposit Advance Products Pose No Safety and Soundness Issues”