96-3782. Financial Services Corp of The Midwest; Notice of Proposal to Engage de novo in Permissible Nonbanking Activities

[Federal Register Volume 61, Number 35 (Wednesday, February 21, 1996)]
[Notices]
[Page 6643]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-3782]



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FEDERAL RESERVE SYSTEM

Financial Services Corp of The Midwest; Notice of Proposal to 
Engage de novo in Permissible Nonbanking Activities

    The company listed in this notice has given notice 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 notice is available for immediate inspection at the Federal 
Reserve Bank indicated. Once the notice 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 commencement of the activity 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 
March 5, 1996.
    A. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. Financial Services Corp of The Midwest, Rock Island, Illinois; 
to engage de novo in the making and servicing of loans, pursuant to 
Sec.  225.25(b)(1) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, February 14, 
1996.
Barbara R. Lowrey,
Associate Secretary of the Board.
[FR Doc. 96-3782 Filed 2-20-96; 8:45 am]
BILLING CODE 6210-01-F