National banks may operate Web sites and process credit card purchases over the Internet as a service for small-business customers, according to the Office of the Comptroller of the Currency.

OCC Chief Counsel Julie L. Williams in a speech last week said the agency on March 5 approved a request by Fleet Financial Group Inc. for storefronts fleet. For a fee, Boston-based Fleet creates Web sites that small-business customers can use to sell products to consumers. Fleet processes the credit card purchases and deposits the receipts in the small- business customer's account.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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