A final rule that aligns regulatory language with related language in underlying statute clarifies that national trust banks may engage in non-fiduciary activities, the national bank regulator announced in a bulletin Friday.
The final rule, effective April 1, was issued by the Office of the Comptroller of the Currency (OCC) and is unchanged from the proposal issued in January.
The OCC said in Bulletin 2026-4 that the rule revises the agency’s chartering regulation by changing references from “fiduciary activities” to “operations of a trust company and activities related thereto.” This clarifies, the agency said, the longstanding authority of national banks limited to the operations of trust companies and activities related thereto to engage in non-fiduciary activities in addition to their fiduciary activities.”
It said the final rule would neither expand nor contract the OCC’s authority to charter a national bank.
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