Regulatory Alerts2024-10-18
LPBO Exception for Additional Activities
The Pennsylvania Department of Banking and Securities issued an interpretive letter to state-chartered banks to permit additional activities at limited purpose banking offices. The Department will not take exception to bank personnel conducting deposit production activities and making final credit decisions at these locations. Additionally, the Department clarified that employee personal residences used for remote work are not considered banking offices, provided they comply with applicable state laws.
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