12 C.F.R. § 7.1020 Purchase of open accounts.
Title 12 - Banks and Banking
(a) General. The purchase of open accounts is a part of the business of banking and within the power of a national bank. (b) Export transactions. A national bank may purchase open accounts in connection with export transactions; the accounts should be protected by insurance such as that provided by the Foreign Credit Insurance Association and the Export-Import Bank.
Title 12: Banks and Banking
PART 7—BANK ACTIVITIES AND OPERATIONS
Subpart A—Bank Powers
§ 7.1020 Purchase of open accounts.
