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Office of the Comptroller of the Currency, Ensuring a safe and sound national banking 
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Corporate Applications and Other Requests:

April 2012

Vol. 25, No. 4


The OCC will discontinue printing and mailing of paper copies of Interpretations and Actions as of June 1, 2012 in order to reduce the amount of paper used and to save on postage. This publication will be available on our Web site at http://www.occ.gov/topics/licensing/interpretations-and-actions/index-interpretations-and-actions.html.

IN THIS ISSUE:

Community Development Investment Letters

Letter No. Topic
2011-1 (PDF) Investment in Fund to Provide Financial Products and Services for LMI Consumers - The purpose of the Fund, which primarily benefits low- and moderate-income individuals, is to provide financing to companies that deliver financial products and services targeted to the underbanked and low- to moderate-income persons, as shown by lower prices and credit, savings and investment. 04/05/2011

CRA Decisions

Letter No. Topic
149 (PDF) Applications by Capital One, National Association, McLean, Virginia, and Capital One Bank (USA), National Association, Glen Allen, Virginia ("COBNA"), to acquire substantially all of the assets and assume certain liabilities of HSBC Bank Nevada, Las Vegas, Nevada (Control Numbers 2011 NE 02 0028 & 0029), 03/09/2012

Corporate Decisions

Letter No. Topic
2012-05 (PDF) Application to merger merge RBC Bank (USA), Raleigh, North Carolina ("RBC Bank"), with and into PNC Bank, National Association, Wilmington, Delaware (Control Number 2011 NE 02 0021), 01/11/2012
2012-06 (PDF) Application by Sovereign Bank, National Association, Wilmington, Delaware, to establish two direct subsidiaries, Sovereign Finance 2012-LLC and Sovereign Lease Holdings, LLC (Control Number 2012 NE 08 0001), 02/28/2012
2012-07 (PDF) Application by Stearns Bank, National Association, St. Cloud, Minnesota, to purchase certain assets and assume certain liabilities of Covenant Bank & Trust, Rock Spring, Georgia ("Failed Entity") (Control Number 2012 CE 02 0011), 03/23/2012
2012-08 (PDF) Application by The Huntington National Bank, Columbus, Ohio, to purchase certain assets and assume certain liabilities of Fidelity Bank, Dearborn, Michigan ("Failed Entity") (Control Number 2012 CE 02 012), 03/30/2012

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2012-66, announcing the availability of enforcement actions. Copies of the final actions are available by writing to the OCC, Communications Division, Mail Stop 2-3, Washington, D.C. 20219. You may also submit your request electronically through the OCC's online FOIA site, https://foia-pal.occ.gov/palMain.aspx or fax your request to (202)-874-5274. When ordering, specify the appropriate enforcement action number.

Community Reinvestment Act (CRA) Performance Evaluations

Enclosed are lists of CRA performance evaluations that became public during the periods of March 15, 2012 through April 14, 2012.


PLEASE NOTE: the OCC is changing the time periods covered in its list of CRA evaluations. Going forward, the OCC will release evaluations that became public during the previous month. The next CRA list will appear in June's online publication and will include CRA evaluations covering April 15 through May 31. The July list will cover the evaluations becoming public during the time period of June 1-30.

PLEASE NOTE:  Interpretive Letters and No-Objection Letters reflect the views of the Comptroller's legal staff.  Corporate Decisions, CRA Decisions and Conditional Approvals are from the office of Licensing Activities.  The Community Development Investment Letters are from the office of Community Affairs. The list of CRA Ratings is from the Communications Division.  For copies of the CRA evaluations, you may either contact the bank directly, or you may write to the Office of the Comptroller of the Currency (OCC) in any of three ways: by mail to the OCC, Attn: Communications Division, Mail Stop 2-3, Washington, D.C.  20219; by fax to (202) 874-5274; or electronically at the OCC's online FOIA site, https://foia-pal.occ.gov/palMain.aspx. You may also write to the OCC for copies of enforcement actions and charters with standard conditions.

Members of the news media are encouraged to cite the letter number when reporting or summarizing documents from this package.  This helps us to process single requests based upon your citation in a timelier manner.

The Office of the Comptroller of the Currency publishes INTERPRETATIONS AND ACTIONS monthly.  Subscriptions are available at a rate of $200 per year by writing to the Comptroller of the Currency, ATTN: Financial Management, Accounts Receivable, Mail Stop FM-2, Washington, DC  20219.  Prepayment is requested.  Suggestions, comments or questions may be sent to Jacqueline J. England, Comptroller of the Currency, Communications Division, Mail Stop 2-3, Washington, DC  20219.