The corporate can be submitting an utility for a newly established limited-purpose nationwide belief financial institution
Ameriprise Monetary (NYSE: AMP) has filed an utility to transform Ameriprise Financial institution, FSB to a state-chartered industrial financial institution (IB) regulated by the Utah Division of Monetary Establishments (UDFI) and the Federal Deposit Insurance coverage Company (FDIC). The corporate can be submitting an utility to transition the FSB’s private belief providers enterprise to a brand new restricted function nationwide belief financial institution regulated by the Workplace of the Comptroller of the Forex (OCC).
The adjustments don’t affect the corporate’s long-term progress technique for the financial institution and permits Ameriprise to proceed providing its sturdy lineup of banking options, together with deposits, bank cards, mortgages and securities-based lending to its wealth administration purchasers with out interruption. Changing to an IB constitution will assist the corporate align capital frameworks throughout its companies to compete extra successfully and effectively.
About Ameriprise Monetary
At Ameriprise Monetary, we now have been serving to individuals really feel assured about their monetary future for greater than 125 years. With intensive advisory, asset administration and insurance coverage capabilities and a nationwide community of roughly 10,000 monetary advisors, we now have the energy and experience to serve the total vary of particular person and institutional traders’ monetary wants. For extra info, or to seek out an Ameriprise monetary advisor, go to ameriprise.com.
Ameriprise Monetary Providers, LLC. Member FINRA and SIPC.
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Kathleen McClung, Media Relations