Regulatory Bulletin  1.1-102 Advisory Opinion, Approval Requests & Regulatory Notices

Date:	03/18/2026
Referenced Sources:	G.L. c. 26, ss. 2 G.L. c. 26, ss. 4 G.L. c. 30A

Applicability and scope

This bulletin clarifies the procedure which all banks, credit unions, licensees, registrants, and their representatives, as well as members of the public, must follow in order to request an advisory opinion or approval from, or to submit a regulatory notice to, the Division of Banks (Division).

Policy

1. Form
   
   All requests for advisory opinions, applications for approvals, and regulatory notices must be written and submitted by email.to the Division at [e-mail].  Such requests, applications, and notices must be submitted as a separate PDF file, in letter format addressed to the Commissioner of Banks, and must contain the full name of the person filing the request, application, or notice, as applicable, address, email address, telephone number, signature, and, if applicable, the full name of the financial institution represented by such person.
2. Advisory Opinions
   
   Requests for advisory opinions must concisely present all known issues, facts, and citations to applicable statutes, regulations, regulatory bulletins, or other advisory opinions within the Division’s jurisdiction.  A complete analysis of the facts and law in support of the requestor’s position must be provided.  Requests lacking material information shall be considered incomplete until the Division receives such information.  Advisory opinions issued by the Division reflect the specificity provided in advisory opinion requests.  Such advisory opinions are binding only with respect to fact patterns which do not vary from those presented in the request.   However, such advisory opinions shall have precedential value in regard to subsequent advisory opinion requests on related issues. The Division notes that subsequent updates to statutory and regulatory authority can also amend or negate certain outcomes and precedential value in advisory opinions. Incoming advisory opinion requests, supporting documents, associated correspondence, and advisory opinions issued by the Division are public records subject to disclosure under M.G.L. c. 66.
3. Approvals and Regulatory Notices
   
   Applications for approvalsand regulatory notices submitted to the Division must concisely state the nature of the approval sought or the notice being provided and must cite the statute or regulation requiring such approval or notice.  Each element required by statute, regulation, administrative bulletin, or advisory opinion must be addressed.  Applications or notices which fail to provide any material information shall be considered incomplete until the Division receives such information.  This section does not govern formal applications for regulatory approval reported in the Division’s Monthly Activity Report.
4. Materiality
   
   The Division retains complete discretion in determining what information may or may not be material to a specific opinion or approval request, application, or notice.
5. Processing
   
   Every effort shall be made by the Division to respond to complete requests for advisory opinions, approval applications, and regulatory notices within a timely manner. However, requests involving complex issues of law or public policy may require an extended review period.
6. Advisory Opinions
   
   The Division publishes its Advisory Opinions in the Financial Industry Resources section of the Division's website.

Historical notes

This bulletin was issued on January 15, 1998 and recited existing internal Division policies.  The bulletin was revised on May 8, 2012 and most recently revised on March 18, 2026.

Authority

M.G.L. c. 26, ss. 2 and 4; and M.G.L. c. 30A, s. 8.

Submission

Please note that all advisory opinion requests and approval requests should be emailed to [e-mail]. Requests should not be mailed to the Division.