Delaware Banking Chief Approves Reg Permitting Wide Range of New

travel agency services and general management consulting under a new regulation approved Wednesday by the state bank commissioner. "Our goal is to keep the Delaware state charter as attractive and flexible as possible, and this is the appropriate way to go to accomplish that," said Delaware banking commissioner Timothy R. McTaggart. "Customers in Delaware and throughout the nation will benefit from the banks' ability to provide enhanced services." Banks that want to enter the two new lines of business available under the regulation must give the commissioner's office 30-days' notice. Under the regulation, Delaware banks will also be able to enter any line of business that the Federal Reserve Board permits for bank holding companies. Those activities include data processing, courier services, and tax planning. The new rule adds to the list of activities Delaware banks can directly engage in, such as the sale of insurance and sales and underwriting of securities. Finally, the regulation gives the state bank commissioner authority to approve other activities not currently allowed on a case-by-case basis.