This classification applies to the operation of depository financial institutions that are licensed to perform financial services, including but not limited to accepting deposits, paying interest, clearing checks, making loans and exchanging currency. This classification also applies to depository financial institutions that operate entirely online or through electronic transactions.
The operation of properties away from the bank premises, including but not limited to trusts, repossessed properties and other business properties shall be separately classified.
Mortgage brokers shall be classified as 8743, Mortgage Brokers.
Mortgage bankers shall be classified as 8749, Mortgage Bankers.
Credit unions shall be classified as 8801, Credit Unions.
Check cashing locations at which the fees charged for check cashing, deferred deposit transactions, money orders and wire transfers equal or exceed 75% of gross receipts shall be classified as 8850, Check Cashers.
|Shown below is the previously published phraseology and footnote||Effective Date|
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