[Federal Register Volume 60, Number 18 (Friday, January 27, 1995)]
[Notices]
[Pages 5396-5397]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-2055]
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FEDERAL RESERVE SYSTEM
Norwest Corporation, et al.; Acquisitions of Companies Engaged in
Permissible Nonbanking Activities
The organizations listed in this notice have applied under Sec.
225.23(a)(2) or (f) of the Board's Regulation Y (12 CFR 225.23(a)(2) or
(f)) for the Board's approval under section 4(c)(8) of the Bank Holding
Company Act (12 U.S.C. 1843(c)(8)) and Sec. 225.21(a) of Regulation Y
(12 CFR 225.21(a)) to acquire or control voting securities or assets of
a company engaged in a nonbanking activity that is listed in Sec.
225.25 of Regulation Y as closely related to banking and permissible
for bank holding companies. Unless otherwise noted, such activities
will be conducted throughout the United States.
Each application is available for immediate inspection at the
Federal Reserve Bank indicated. Once the application has been accepted
for processing, it will also be available for inspection at the offices
of the Board of Governors. Interested persons may express their views
in writing on the question whether consummation of the proposal can
``reasonably be expected to produce benefits to the public, such as
greater convenience, increased competition, or gains in efficiency,
that outweigh possible adverse effects, such as undue concentration of
resources, decreased or unfair competition, conflicts of interests, or
unsound banking practices.'' Any request for a hearing on this question
must be accompanied by a statement of the reasons a written
presentation would not suffice in lieu of a hearing, identifying
specifically any questions of fact that are in dispute, summarizing the
evidence that would be presented at a hearing, and indicating how the
party commenting would be aggrieved by approval of the proposal.
Unless otherwise noted, comments regarding each of these
applications must be received at the Reserve Bank
[[Page 5397]] indicated for the application or the offices of the Board
of Governors not later than
A. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Norwest Corporation, Minneapolis, Minnesota; to acquire Stan-
Shaw Corporation, Anaheim Hills, California, and thereby engage in
acting as trustee under deeds of trust, preparing and filing notices of
default, reconveyances and related documents, pursuant to Sec.
225.25(b)(3) of the Board's Regulation Y.
2. Norwest Corporation, Minneapolis, Minnesota; to acquire
Directors Mortgage Loan Corporation, Riverside, California, and thereby
engage in (1) the origination, sale and servicing of residential
single-family, first mortgage loans, the retention, purchase and sale
of servicing rights associates with such mortgage loans, pursuant to
Sec. 225.25(b)(1) of the Board's Regulation Y, and (2) the acquisition
of 24.6 percent of Mission Savings and Loan Association, Riverside,
California, pursuant to Sec. 225.25(b)(9) of the Board's Regulation Y.
3. Norwest Corporation, Minneapolis, Minnesota; to acquire
Directors Insurance Service, Riverside, California, and thereby engage
in (1) providing, as agent for various insurance underwriters, a full
line of home mortgage insurance products, including mortgage life,
flood, and earthquake insurance, pursuant to section 4(c)(8)(G) of the
Bank Holding Company Act.
Board of Governors of the Federal Reserve System, January 23,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-2055 Filed 1-26-95; 8:45 am]
BILLING CODE 6210-01-F
