A national bank in Georgia has caused a ruckus with its plan for using the controversial "30-mile rule" not to branch into another state, as in previous cases, but simply to get across the county line.

Though 21 banks across the country have received federal regulators' approval in the past year and a half to branch into other states through the loophole, no bank has used it to branch within its home state.

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.