12 U.S.C. § 1863 : US Code - Section 1863: Permissible bank service company activities for depository institutions

Search 12 U.S.C. § 1863 : US Code - Section 1863: Permissible bank service company activities for depository institutions

Without regard to the provisions of sections 1864 and 1865 of
this title, an insured depository institution may invest in a bank
service company that performs, and a bank service company may
perform, the following services only for depository institutions:
check and deposit sorting and posting, computation and posting of
interest and other credits and charges, preparation and mailing of
checks, statements, notices, and similar items, or any other
clerical, bookkeeping, accounting, statistical, or similar
functions performed for a depository institution.