Corporate Applications and Other Requests:
Vol. 10, No. 7
IN THIS ISSUE:
PLEASE NOTE: Interpretive Letters and No Objection Letters reflect the views of the Comptroller's legal staff. Corporate
Decisions and Decisions (CRA) are from the office of Bank Organization and Structure. The list of CRA Ratings is from the
Communications Division. Copies of documents not available electronically should be requested by e-mail or by postal mail to the
Office of the Comptroller of the Currency, Attn: Public Reference Room, Mailstop 1-5, Washington, D.C. 20219.
Please cite the letter number when reporting or summarizing documents from
this package. This helps to process single requests in a more timely manner.
||Letter finds that national banks may elect corporate governance provisions of state law,
and complete a reverse stock split in accordance with those provisions, provided state
law provides reasonable dissenters' rights and bank has legitimate business purpose.
||Letter states that the meaning of "qualified investment" under the CRA regulations
includes both "direct" and "indirect" investments. (06/10/97)
||A national bank may not produce examination reports to a state court judge without
OCC's approval. (06/18/97)
||State law prohibiting national banks from displaying their names on ATMs and giving
state regulatory authority over ATMs is preempted. (06/27/97)
||Participation exception in lending limits regulation applies to the participation of a line
of credit on which draws may be made by the customer on consecutive days, provided
the participation funding is received by the lead bank by the end of the next business
day after each advance to the customer is made. (07/02/97)|
||Application for Lebanon Citizens National Bank, Lebanon, Ohio, to purchase certain
assets and assume certain liabilities of three Ohio branch offices of KeyBank,
National Association, Cleveland, Ohio; (Control Number 97CEO20027), (06/12/97).
||Application by First National Bank of Pennsylvania, Greenville, Pennsylvania, to
acquire a branch in Brookfield, Ohio, from The Metropolitan Savings Bank of Ohio,
Youngstown, Ohio; (Control Number 97NE020019), (06/19/97).
||Application of Aurora National Bank, Aurora, Colorado to elect the corporate
governance provisions of Colorado law and complete a reverse stock split in
accordance with those provisions; (Control Number 97WE120132), (06/20/97).
||Application to merge Mercantile Bank of Illinois National Association, Hartford,
Illinois, and Mark Twain Bank, Laude, Missouri, with and into Mercantile Bank
National Association, St. Louis, Missouri; (Control Number 97MW020034), (06/20/97).
||Applications of Bank of America Trust Company of Florida, N.A., Boca Raton,
Florida; Bank of America Florida Interim National Bank, Boca Raton, Florida; and
Bank of America National Trust & Savings Association, San Francisco, California;
(Control Number 97MLO20017), (06/25/97).
||Application to merge Bank of America Illinois, Chicago, with and into Bank of
America National Trust and Savings Association, San Francisco, California; (Control
Number 97ML020001), (06/25/97).
||Application of KeyBank National Association, Cleveland, Ohio, to acquire an
operating subsidiary which has invested in corporations, limited partnerships and a
general partnership which engage in leasing activities; (Control Number 97CE08018),
||Applications to merge First American National Bank of Kentucky, Bowling Green,
Kentucky, with and into First American National Bank, Nashville, Tennessee, retain
its branches and main office; (Control Number 97SE020020, 97SE050067 & 97SE050068, &
||Application by First National Community Bank, East Liverpool, Ohio, to acquire a
branch in New Cumberland, West Virginia; (Control Number 97CEO20041), (06/26/97).
||Application by Wells Fargo Bank, N.A., San Francisco, California, to establish a
branch in Miramar, California; (Control Number 97ML050318), (06/30/97).
||Application by Norwest Bank Nevada, F.S.B., Las Vegas, Nevada to convert to a
national banking association under the title of Norwest Bank Nevada, National
Association; (Control Number 97MW01013), (06/30/97).
||Application to charter Banco de Prestamos National Bank, Queens, New York; (Control
Number 96NE010020), (07/07/97).
||Application by Barnett Bank, National Association, Jacksonville, Florida, to expand
the activities of an existing, indirect operating subsidiary and thereby engage in
certain Internet-based finder activities related to sales of pre-owned automobiles;
(Control Number 97SE080024), (07/01/97). |
Approvals with conditions enforceable under 12 U.S.C. 1818
||Notice of BankBoston, N.A., Boston, Massachusetts, to acquire and hold through an
operating subsidiary 50 percent interest in a limited liability company engaging in credit
card and debit card transaction processing services to merchant businesses. (Control
Number 97ML080012), 06/27/97
||Application by Presbyterian Church (USA) Foundation to charter a national trust bank
with the title "New Covenant Trust Company, National Association," Jeffersonville,
Indiana. (Control Number 97CE010023), 06/30/97|
Final Enforcement Actions
Enclosed is a copy of the OCC's news release number 97-67 , announcing the availability of
enforcement actions. Copies of the final actions are available by writing to the OCC, Public
Reference Room, Mailstop 1-5, Washington, D.C. 20219. When ordering, specify the
appropriate Enforcement Action Number.
COMMUNITY REINVESTMENT ACT (CRA) Performance Evaluations
Enclosed is a list of CRA performance evaluations that became public during the period of
June 15 through July 14.
INTERPRETATIONS AND ACTIONS is published monthly by the Office of the Comptroller
of the Currency. Subscriptions are available at a rate of $175 per year by writing to the
Comptroller of the Currency, P.O. Box 73150, Chicago, IL 60673-7150. Prepayment is
requested. Suggestions, comments or questions may be sent to Jacqueline J. England,
Communications Division, Comptroller of the Currency, Washington, DC 20219.