The Comptroller of the Currency's operating subsidiary rule may not be as legally rock solid as the agency claims. That is the view of lawyers who have studied the agency's decision last month allowing Zions First National Bank of Salt Lake City to underwrite municipal revenue bonds in an operating subsidiary.

These lawyers said a court challenge could last several years, but they expect the agency eventually would win.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.