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Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency Federal Financial Institutions Examination CouncilConsolidated Reports
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Authority and are true refers to the legal power or right to act on behalf of someone else. They are true when they are accurate and in compliance with the law.
Individuals or organizations who have been given the legal authority to act on behalf of others are required to file authority and are true.
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The purpose of authority and are true is to ensure that individuals or organizations are acting within their legal rights and obligations when making decisions on behalf of others.
Information such as the name of the authorized individual or organization, their legal powers, and any limitations on those powers must be reported on authority and are true.
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