[Federal Register Volume 59, Number 213 (Friday, November 4, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-27387]
[[Page Unknown]]
[Federal Register: November 4, 1994]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Charter Bancorporation, Inc.; Notice of Application to Engage de
novo in Permissible Nonbanking Activities
The company listed in this notice has filed an application under
Sec. 225.23(a)(1) of the Board's Regulation Y (12 CFR 225.23(a)(1)) 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 commence or to engage de novo, either directly or through
a subsidiary, 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.
The 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.
Comments regarding the application must be received at the Reserve
Bank indicated or the offices of the Board of Governors not later than
November 18, 1994.
A. Federal Reserve Bank of San Francisco (Kenneth R. Binning,
Director, Bank Holding Company) 101 Market Street, San Francisco,
California 94105:
1. Charter Bancorporation, Inc., Scottsdale, Arizona; to engage de
novo in making, acquiring, or servicing loans or other extensions of
credit (including issuing letters of credit and accepting drafts) for
the company's account or for the account of others, such as would be
made, for example, by the following types of companies: (i) consumer
finance; (ii) credit card; (iii) mortgage; (iv) commercial finance; and
(v) factoring, pursuant to Sec. 225.25(b)(1) of the Board's Regulation
Y.
Board of Governors of the Federal Reserve System, October 31,
1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-27387; Filed 11-3-94; 8:45 am]
BILLING CODE 6210-01-F
