Huntington National Bank 2009 Annual Report Download - page 18

F
inancial Holding Com
p
an
y
Status
In order to maintain its status as a financial holdin
g
compan
y
, a bank holdin
g
compan
y
’s depositor
y
subsidiaries must all be both “well capitalized” and “well mana
g
ed,” and must meet their Communit
y
Reinvestment Act obli
g
ations.
F
i
nanc
i
a
lh
o
ldi
n
g
compan
y
powers re
l
ate to “
fi
nanc
i
a
l
act
i
v
i
t
i
es” t
h
at are
d
eterm
i
ne
dby
t
h
eFe
d
era
l
Reserve, in coordination with the Secretar
y
of the Treasur
y
, to be financial in nature, incidental to an activit
y
t
h
at
i
s
fi
nanc
i
a
li
n nature, or comp
l
ementar
y
to a
fi
nanc
i
a
l
act
i
v
i
t
y
, prov
id
e
d
t
h
at t
h
e comp
l
ementar
y
act
i
v
i
t
y
d
oes not pose a sa
f
et
y
an
d
soun
d
ness r
i
s
k
.T
h
e Gramm-Leac
h
-B
lil
e
y
Act
d
es
ig
nates certa
i
n act
i
v
i
t
i
es a
s
fi
nanc
i
a
li
n nature,
i
nc
l
u
di
n
g:
•un
d
erwr
i
t
i
n
gi
nsurance or annu
i
t
i
es;
• prov
idi
n
gfi
nanc
i
a
l
or
i
nvestment a
d
v
i
ce
;
•un
d
erwr
i
t
i
n
g
,
d
ea
li
n
gi
n, or ma
ki
n
g
mar
k
ets
i
n secur
i
t
i
es
;
• merchant bankin
g
, sub
j
ect to si
g
nificant limitations;
• insurance compan
y
portfolio investin
g
, sub
j
ect to si
g
nificant limitations; an
d
•an
y
activities previousl
y
found b
y
the Federal Reserve to be closel
y
related to bankin
g
.
The Gramm-Leach-Blile
y
Act also authorizes the Federal Reserve, in coordination with the Secretar
y
of
the Treasur
y
, to determine that additional activities are financial in nature or incidental to activities that ar
e
fi
nanc
i
a
li
n nature
.
We are requ
i
re
dby
t
h
e Ban
k
Ho
ldi
n
g
Compan
y
Act to o
b
ta
i
nFe
d
era
l
Reserve approva
l
pr
i
or to
acqu
i
r
i
n
g
,
di
rect
ly
or
i
n
di
rect
ly
, owners
hi
p or contro
l
o
f
vot
i
n
g
s
h
ares o
f
an
yb
an
k
,
if
,a
f
ter suc
h
acqu
i
s
i
t
i
on
,
we would own or control more than
5
% of its votin
g
stock. However, as a financial holdin
g
compan
y
,wema
y
commence an
y
new financial activit
y
, except for the acquisition of a savin
g
s association, with notice to the
Fe
d
era
l
Reserve w
i
t
hi
n30
d
a
y
sa
f
ter t
h
e commencement o
f
t
h
enew
fi
nanc
i
a
l
act
i
v
i
t
y
.
US
A Patriot Ac
t
T
h
e USA Patr
i
ot Act o
f
2001 an
di
ts re
l
ate
d
re
g
u
l
at
i
ons requ
i
re
i
nsure
dd
epos
i
tor
yi
nst
i
tut
i
ons,
b
ro
k
er
-
dealers, and certain other financial institutions to have
p
olicies,
p
rocedures, and controls to detect,
p
revent, and
report mone
yl
aun
d
er
i
n
g
an
d
terror
i
st
fi
nanc
i
n
g
.T
h
e statute an
di
ts re
g
u
l
at
i
ons a
l
so prov
id
e
f
or
i
n
f
ormat
i
o
n
s
h
ar
i
n
g
,su
bj
ect to con
di
t
i
ons,
b
etween
f
e
d
era
ll
aw en
f
orcement a
g
enc
i
es an
dfi
nanc
i
a
li
nst
i
tut
i
ons, as we
ll
a
s
amon
g
financial institutions, for counter-terrorism purposes. Federal bankin
g
re
g
ulators are required, whe
n
reviewin
g
bank holdin
g
compan
y
acquisition and bank mer
g
er applications, to take into account the
e
ff
ect
i
veness o
f
t
h
e ant
i
-mone
yl
aun
d
er
i
n
g
act
i
v
i
t
i
es o
f
t
h
e app
li
cants
.
Customer Privac
y
an
d
Ot
h
er Consumer Protection
s
Pursuant to t
h
e Gramm-Leac
h
-B
lil
e
y
Act, we,
lik
ea
ll
ot
h
er
fi
nanc
i
a
li
nst
i
tut
i
ons, are requ
i
re
d
to
:
• prov
id
e not
i
ce to our customers re
g
ar
di
n
g
pr
i
vac
y
po
li
c
i
es an
d
pract
i
ces,
•
i
n
f
orm our customers re
g
ar
di
n
g
t
h
e con
di
t
i
ons un
d
er w
hi
c
h
t
h
e
i
r non-pu
bli
c persona
li
n
f
ormat
i
on ma
y
b
e
di
sc
l
ose
d
to non-a
ffili
ate
d
t
hi
r
dp
art
i
es, an
d
•
gi
ve our customers an opt
i
on to prevent
di
sc
l
osure o
f
suc
hi
n
f
ormat
i
on to non-a
ffili
ate
d
t
hi
r
d
part
i
es
.
Un
d
er t
h
eFa
i
ran
d
Accurate Cre
di
t Transact
i
ons Act o
f
2003, our customers ma
y
a
l
so opt out o
f
information sharin
g
between and amon
g
us and our affiliates. We are also sub
j
ect, in connection with ou
r
lendin
g
and leasin
g
activities, to numerous federal and state laws aimed at protectin
g
consumers, includin
g
the
Home Mort
g
a
g
eD
i
sc
l
osure Act, t
h
e Rea
l
Estate Sett
l
ement Proce
d
ures Act, t
h
e Equa
l
Cre
di
t Opportun
i
t
y
Act
,
t
h
e Trut
hi
n Len
di
n
g
Act, an
d
t
h
eFa
i
r Cre
di
t Report
i
n
g
Act.
10