The Office of the Comptroller of the Currency has issued a no-objection leter to the Blackfeet National Bank with regard to the bank's expressed intention to market a new product, denominated a Retirement CD account, that combines features of a traditional certificate of deposit with certain payment terms and tax advantages of an annuity contract.

Shortly thereafter, the Federal Deposit Insurance Corp. released a letter addressed to Dennis Gingold, the legal architect of the new product, opining that the "Retirement CD is an insured product, with some limitations..."

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