Payroll processing company ADP opens national trust bank.

Byline: David Hutter

Roseland-based payroll processing company ADP announced that the Office of Comptroller of the Currency authorized the ADP Trust Co.,a national trust bank, to open on Sept. 3.

According to ADP, the ADP Trust Co. commenced banking operations, acting as trustee for the ADP client trust.

According to ADP, certain aspects of the company's American client money activity have been regulated at the individual state level with resulting inherent...