§ 7.4002. National bank charges.
284 words·~1 min read·
/us/cfr/t12/s§ 7.4002·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Authority to impose charges and fees. A national bank may charge its customers non-interest charges and fees, including deposit account service charges.
(b)Considerations.
(1)All charges and fees should be arrived at by each bank on a competitive basis and not on the basis of any agreement, arrangement, undertaking, understanding, or discussion with other banks or their officers.
(2)The establishment of non-interest charges and fees, their amounts, and the method of calculating them are business decisions to be made by each bank, in its discretion, according to sound banking judgment and safe and sound banking principles. A national bank establishes non-interest charges and fees in accordance with safe and sound banking principles if the bank employs a decision-making process through which it considers the following factors, among others:
(i)The cost incurred by the bank in providing the service;
(ii)The deterrence of misuse by customers of banking services;
(iii)The enhancement of the competitive position of the bank in accordance with the bank's business plan and marketing strategy; and
(iv)The maintenance of the safety and soundness of the institution.
(c)Interest. Charges and fees that are “interest” within the meaning of 12 U.S.C. 85 are governed by § 7.4001 and not by this section.
(d)State law. The OCC applies preemption principles derived from the United States Constitution, as interpreted through judicial precedent, when determining whether State laws apply that purport to limit or prohibit charges and fees described in this section.
(e)National bank as fiduciary. This section does not apply to charges imposed by a national bank in its capacity as a fiduciary, which are governed by 12 CFR part 9. [66 FR 34791, July 2, 2001]
Connections43 cite this · traces to 1
Cited by 43 sections · top 20
CFR
register
- NoticesNotice of proposed rulemaking
- NoticesFinal rule
- NoticesNotice of proposed rulemaking
- Rules and RegulationsNotice of proposed rulemaking
- Proposed RulesNotice of proposed rulemaking
- NoticesNotice and request for comments
- Rules and RegulationsNotice
- NoticesJoint final rule
- Rules and RegulationsFinal rule
- Rules and RegulationsFinal rule
- Rules and RegulationsInterim final rule; request for comments
- Rules and RegulationsFinal rule
- NoticesProposed guidance with request for comment
- Presidential DocumentsJoint notice of proposed rulemaking
- NoticesInterim final order; request for comments
- Rules and RegulationsFinal rule
- NoticesFinal rule; official interpretation
Traces to 1 document
1 reference not yet in our index
- 12 CFR 9
Citation graph
cites case law
Cites 2Cited by 43 across 2 sources