Trust and Loan Companies Act

Definition of 'regulated foreign entity' in Trust and Loan Companies Act now cross-references the Bank Act

The Act has been updated so that the definition of 'regulated foreign entity' no longer contains its own standalone criteria. Instead, it simply adopts whatever definition that term carries in the Bank Act, keeping th…

Federal trust and loan companies get seven-year sunset extension, higher equity thresholds, and stronger security oversight rules

The sunset date allowing federal trust and loan companies to continue carrying on business has been pushed from June 30, 2026 to June 30, 2033, giving the industry a seven-year extension before re-authorization is req…