Corporate Applications and Other Requests:
Vol. 11, No. 5
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. For copies of the evaluation, you should contact the bank directly or the
Office of the Comptroller of the Currency, Attn: Public Reference Room, Mailstop 1-5, Washington, D.C. 20219.
Members of the news media are encouraged to cite the letter number when reporting or summarizing documents from
this package. This helps to process single requests in a more timely manner.
||Letter concludes that national banks may invest in insurance company separate account
product, which in turn invests solely in bank-eligible U.S. Treasury, Agency and
Government-sponsored enterprise obligations. (03/17/97)
||Letter approves credit card "debt suspension agreements," which freeze a cardholder's
account for up to a specified number of months in the event that the cardholder becomes
involuntarily unemployed, is unable to work due to disability, goes on approved family
leave, is hospitalized for more than a specified number of days, or becomes temporarily
unable to continue to make payments on the account for certain or other specified
reasons. During a "freeze" the cardholder is not charged interest or fees. (04/03/98)
||Letter opines that national bank participation in a mortgage reinsurance exchange is
permissible where the exchange will provide for the reinsurance of private mortgage
insurance on loans originated or purchased by participating lenders. (04/06/98)
||Letter concludes that a national bank may charge different management fees to collective
investment fund participant, commensurate with the amount and types of services it
provides to participants, where the fees, meet the requirements of the reasonableness
standard of 12 C.F.R. 9.18(b)(9) and each participant retains a proportionate interest in
the collective investment fund's underlying assets as required by 12 C.F.R. 9.18(b)(3).
||Notification by Girard National Bank, Girard, Kansas, to establish G.N. Resources,
Inc.; (Control Number 97MW080048), (03/23/98).
||Application to merge First Commercial Bank, N.A., Memphis, Tennessee, with and
into First Commercial Bank, N.A., of West Memphis, West Memphis, Arkansas, and
related applications; (Control Numbers 98SW010002 and 98SW020003, -0010, and -0013),
||Application to merge NationsBank of Texas, National Association, Dallas, Texas,
with and into NationsBank, National Association, Charlotte, North Carolina; (Control
Number 97ML020038), (04/02/98).
||Application to merge Rhode Island Hospital Trust National Bank, Providence, Rhode
Island, with and into BankBoston, National Association, Boston, Massachusetts;
(Control Number 98ML020006), (04/02/98).
||Application to merge CoreStates Bank, National Association, Philadelphia,
Pennsylvania, with and into First Union National Bank, Charlotte, North Carolina;
(Control Number 98ML020005), (04/15/98).
||Application by Fifth Third Bank of Northwestern Ohio, N.A., Toledo, Ohio, of its
intent to establish an operating subsidiary to reinsure mortgage insurance; (Control
Number 98CE080003), (04/22/98).
||Application to merge PremierBank & Trust, Elyria, Ohio, and Jefferson Savings
Bank, West Jefferson, Ohio, with and into FirstMerit Bank, National Association,
Akron, Ohio; (Control Number 98CE020004), (04/30/98).
||Notice of Change in Bank Control involving The First National Bank of Keystone,
Keystone, West Virginia; (Control Number 98SE110002), (05/04/98).|
Approvals with conditions enforceable under 12 U.S.C. 1818
||Application by Citibank, N.A., New York, New York, to make through an operating
subsidiary a minority, non-controlling investment in Integrion Financial Network,
L.L.C. (Control Number 97WO080014), 02/26/98
||Notice of Change in Bank Control involving People's National Bank, Seneca,
Missouri. (Control Number 97MW110004, 04/17/98
||Application by National Penn Bank, Boyertown, Pennsylvania, to establish an
operating subsidiary to acquire and hold a 70% non-controlling interest in a limited
partnership which will engage in title insurance agency activities. (Control Number
Final Enforcement Actions
Enclosed is a copy of the OCC's news release number 98-53, 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
April 15 through May 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 70004, Chicago, IL 60673-0004. Prepayment is requested.
Suggestions, comments or questions may be sent to Jacqueline J. England, Communications Division, Comptroller of the Currency,
Washington, DC 20219.