Regulatory Alerts2020-06-29
Idaho Department of Finance Guidance Statement 2020-02-FIB: Courier Services
The Idaho Department of Finance issued Guidance Statement 2020-02-FIB to clarify that bank-operated customer courier services are permissible under Idaho law. The agency interprets that transporting unverified funds does not constitute accepting deposits because no withdrawal agreement exists until the bank verifies the amount. Consequently, such courier operations do not meet the statutory definition of branch banking and remain compliant with existing regulations.
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