The new Missouri Family Trust Company Act allows families to establish their own family-owned and controlled private trust companies, which can hire banks and public trust companies to assist with investment and management functions. READ MORE

Certain states are now looking into solutions to address the heavy burden of this 50-state regulatory regime on state-chartered banks and state-licensed fintech companies. READ MORE

The primary concern of many community bankers with allowing nonbank commercial companies to own banks is the potential for the “anti-competitive effects and undesirable concentrations of economic power” referred to by the OCC, which apparently shares that concern. READ MORE

One of President Trump’s executive orders included a directive to “rationalize the Federal financial regulatory framework,” which could impact the country’s dual banking system and regulatory options for state-charted banks. READ MORE

State-chartered banks offering financial products via the Internet to out-of-state customers, either directly or through a nonbank fintech arrangement, should be careful to consider the potential compliance pitfalls of the applicable laws of the customer’s home state. READ MORE