Regulatory Alerts2020-10-27
Loan and Deposit Production Office Rules
The Louisiana Office of Financial Institutions has amended and adopted administrative code sections to update regulatory requirements for Loan Production Offices, Deposit Production Offices, and Combination Offices. The updated rules align state-chartered banks with Act 183 of 2020 by permitting LPOs to operate via simple notice, granting activities parity with national banks, and removing restrictions on electronic financial terminal placements. The amendments also clarify permissible and prohibited office activities, establish streamlined closure and relocation procedures, and provide detailed guidelines for multi-institution location sharing.
Share