On October 13, the OCC issued an update to its list of permissible activities for national banks, federal savings associations, and operating subsidiaries that are engaged in “the business of banking.” Activities Permissible for National Banks and Federal Savings Associations, Cumulative updates the list of permissible activities for banks, reflects precedent not previously included or issued since the last edition, streamlines certain entries for readability, and includes certain OCC interpretive letters and corporate decisions issued after the Dodd-Frank Act transferred responsibility from the Office of Thrift Supervision to the OCC. While the update consolidates existing guidance, the OCC stated that “OCC precedent remains applicable until rescinded, superseded, or revised,” and banks should not rely solely on the update for guidance but “should review the authorities cited and other relevant precedent before engaging in an activity.” Furthermore, according to an OCC-issued press release, “[i]ndividual OCC-regulated institutions may be precluded from engaging in otherwise permissible activities based on safety and soundness or other supervisory reasons.”