{"data":{"id":"us/12-cfr-7.1020","jurisdiction":"us","citation":"12 CFR 7.1020","heading":"Purchase of open accounts by a national bank.","body":"(a) General. The purchase of open accounts is a part of the business of banking and within the power of a national bank.\n(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.","path":["Title 12—Banks and Banking","CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY","PART 7—ACTIVITIES AND OPERATIONS","Subpart A—National Bank and Federal Savings Association Powers"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"3f0af659982bbb49a8ac5c2a4bfad0f30d746f0e9a76f1aca1d4ad4e38917fc3","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-7.1018","next":"us/12-cfr-7.1021"},"notice":"GroundRules: Original legal text. Not legal advice."}