The Office of Thrift Supervision has approved an application by the insurer Nationwide Financial Services Inc. to operate a full-service savings bank.
Processing Content
Nationwide Mutual Insurance Co., Nationwide Mutual Fire Insurance Co., Nationwide Corp., and Nationwide Financial Services, all in Columbus, Ohio, are to contribute capital to the bank, the OTS said on Monday.
The bank is to acquire certain assets from its affiliates and become a full-service savings bank offering deposit and loan products in addition to trust services.
