Limited purpose bank or savings association

Limited purpose bank or savings association means a bank or savings association that is not in the business of extending closed-end home mortgage loans, small business loans, small farm loans, or automobile loans evaluated under 25.22 to retail customers, except on an incidental and accommodation basis, and for which a designation as a limited purpose bank or savings association is in effect, pursuant to 25.26.

Source

12 CFR § 25.12

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Scoping language

For purposes of this part, the following definitions apply:

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