Legal Precedent System Under the Financial Institutions Law
A few years ago, a Department task force of lawyers and examiners selected certain letters as interpretations that the Department may abide by. We have now made these letters electronically available so that financial institutions, their counsel, and the general public can access those determinations by performing a search of the database. We recognize that publication of these letters may raise further questions, and we welcome those inquiries. Although this system contains letters selected because they are generally reliable as an indication how the Department may interpret the law, please be advised that these letters represent the position of the Department in the context of the specific facts presented in each case. A change in the law or facts may yield a different interpretation and result. Changes in policy may also affect the result. Therefore, the Department must reserve the right to qualify, withdraw or retract any of these letters.
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