UMB Bank announced late Monday afternoon that it entered into an agreement with RCB Bank to transfer its Oklahoma City corporate trust business to UMB Corporate Trust and Escrow Services.
The corporate trust business involves a bank acting in a fiduciary capacity to sell corporate bonds to the general public, instead of the client borrowing funds from a bank. The fiduciary then acts in the best interest of the investors to ensure the borrower follows the terms of the bonds or to negotiate a settlement…
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