The Office of the Comptroller of the Currency has knocked down another restriction on sales of insurance by banks.

In a controversial move, the agency recently gave national banks broad authority to base their insurance operations in urban areas. The ruling is expected to save banks money, particularly small banks in towns with more than 5,000 people.

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.