OCC Proposes Expanded Non-Fiduciary Powers for National Bank Trusts
Published Date: 1/12/2026
Proposed Rule
Summary
The Office of the Comptroller of the Currency (OCC) wants to update rules for national banks that run trust companies. They’re making it clear these banks can do more than just trust-related work—they can also do other non-fiduciary activities. If you want to share your thoughts, you’ve got until February 11, 2026, to speak up!
Analyzed Economic Effects
4 provisions identified: 3 benefits, 1 costs, 0 mixed.
Trust Banks Can Do Non‑Fiduciary Work
The OCC proposes to clarify that a national bank limited to the operations of a trust company and activities related thereto may also engage in non‑fiduciary activities in addition to fiduciary activities. The OCC says it currently supervises about 60 national trust banks, and the change replaces the phrase "fiduciary activities" with the statutory phrase "the operations of a trust company and activities related thereto."
Core Function Requirement for Special Purpose Banks
The rule text states that a special purpose bank that conducts activities other than trust operations must conduct at least one of three core banking functions: receiving deposits; paying checks; or lending money. This provision appears in the proposed revision to 12 CFR 5.20(e)(1)(i).
Conforming Change Also Covers Federal Savings
The OCC proposes a conforming amendment to 12 CFR 5.20(l) to replace the term "fiduciary activities" with "the operations of a trust company and activities related thereto," and paragraph (l) would apply to national banks and Federal savings associations that limit activities to trust operations, credit card operations, or another special purpose. The OCC says paragraph (l) was added in 1996 and the change aligns its language with 12 U.S.C. 27(a).
No New Costs for OCC‑Supervised Institutions
The OCC states the proposed rulemaking "would impose no new mandates, and thus no direct costs, on affected OCC‑supervised institutions." The OCC also notes it currently supervises 1,003 institutions and estimates approximately 609 meet the Small Business Administration's size thresholds for small entities under the Regulatory Flexibility Act.
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