Corporate Applications and Other Requests:
Vol. 10, No. 3
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 from 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.
||The OCC would appoint the FDIC as receiver for an insolvent, insured federal branch,
and the FDIC would administer the receivership in accordance with the provisions of 12
U.S. C. 1821. Foreign exchange contracts would be treated as "qualified financial
contracts" under that section. Receivership of an insolvent, uninsured federal branch
would be governed by the National Bank Act, and 12 U.S.C. 194 would permit the
netting of foreign exchange contracts. (10/04/95)
||Letter clarifies which types of investment advisers are covered by the newly-revised 12
CFR Part 9. (01/28/97)
||Permits a national bank to enter into leveraged lease of personal property which
includes an incidental interest in real property under the newly revised 12 CFR Part 23. (02/10/97)
||Approves with conditions national bank's acquisition of 20% minority interest in a
payroll processor. (02/24/97)
||Automated loan machines are not branches under 12 U.S.C. 36(J). The recently
amended definition in 36(J) excludes ATMs and remote service units, which are
unstaffed electronic devices that accept deposits, dispense withdrawals or make loans.
Deposit boxes are (still) branches, and are not remote service units. (03/06/97)
||The applicability of the CRA to financial institutions' assistance to the Family Loan
Program, a program that provides loans and financial management training to low-income parents to pay for unexpected expenses that could interfere with their ability
to keep a job or stay in school. (03/14/97)|
||Application for American National Bank, Union Springs, Alabama, to merge with
First National Bank of Union Springs, Union Springs, Alabama; (Control Number
||Application for The Commercial National Bank of Beeville, Beeville, Texas to
purchase certain assets and assume certain liabilities of two branches of Pacific
Southwest Bank, FSB, Corpus Christi, Texas, under the title and charter of The
Commercial National Bank of Beeville; (Control Number 96SWO20078), (02/13/97).
||Applications by TCF Financial Corp., Minneapolis, Minnesota, to convert federal
savings banks located in Minnesota, Michigan, Illinois, and Wisconsin and to
establish de novo banks in Ohio and Colorado and to engage in certain related
transactions; (Control Numbers 96MW010033 -0038; 96MW050107 - 0120; 96MW020049 & 0050;
97MW120005 & 006; and 97MW120016 & 0017), (02/24/97).
||Application of Key Bank of Washington, Tacoma, Washington, to convert to a
national banking association; (Control Number 97CE010011), (03/04/97).
||Notification by PNC Bank, N.A., Pittsburgh, Pennsylvania, of its intent to establish
an operating subsidiary to reinsure mortgage insurance; (Control Number 97NE080008),
Approvals with conditions enforceable under 12 U.S.C. 1818
||Application by The State Bank and Trust Company, Defiance, Ohio, for a new national
trust bank, with the title of "Reliance Financial Services, National Association". (Control
Number 97CE010007), 02/07/97
||Union Planters National Bank, Memphis, Tennessee, proposed acquisition of PFIC
Corporation as an operating subsidiary. (Control Number 97SE080005), 02/26/97
||Application by Eaglemark, Inc., to charter a national CEBA credit card bank with the
title "Eaglemark Bank, National Association," Carson City, Nevada. (Control Number
96WE010005), 03/07/97 |
Final Enforcement Actions
Enclosed is a copy of the OCC's news release number 97-26, 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
February 15 through March 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.