Answers about General Banking Issues
What is an operating subsidiary of a national bank or federal savings association?
A company that is owned by the bank and does business directly with consumers. An operating subsidiary provides products and services to individuals to be used primarily for personal, family, or household purposes. (Examples would be a mortgage company or auto finance corporation that is owned by the bank: "Bank X doing business as Ivy Auto Loans.")
To find out if a company is an operating subsidiary of a national bank or federal savings association, visit the Who Regulates My Bank? page on this website.