Limited purpose bank

Limited purpose bank means a bank that is not in the business of extending closed-end home mortgage loans, small business loans, small farm loans, or automobile loans evaluated under 345.22 to retail customers, except on an incidental and accommodation basis, and for which a designation as a limited purpose bank is in effect, pursuant to 345.26.

Source

12 CFR § 345.12

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Scoping language

For purposes of this part, the following definitions apply:

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