permissible bank service company activities for depository institutions

permissible bank service company activities for depository institutions Sec. 3. [12 U.S.C. 1863] Without regard to the provisions of sections 4 and 5 of this Act, 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.