97-10923. Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities

[Federal Register Volume 62, Number 82 (Tuesday, April 29, 1997)]
[Notices]
[Page 23244]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-10923]


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FEDERAL RESERVE SYSTEM


Notice of Proposals to Engage in Permissible Nonbanking 
Activities or to Acquire Companies that are Engaged in Permissible 
Nonbanking Activities

    The companies listed in this notice have given notice under section 
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and 
Regulation      Y, (12 CFR Part 225) to engage de novo, or to acquire 
or control voting securities or assets of a company that engages either 
directly or through a subsidiary or other company, in a nonbanking 
activity that is listed in Sec.  225.28 of Regulation Y (12 CFR 225.28) 
or that the Board has determined by Order to be closely related to 
banking and permissible for bank holding companies. Unless otherwise 
noted, these activities will be conducted throughout the United States.
    Each notice is available for 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 the proposal complies with the standards of section 4 
of the BHC Act.
    Unless otherwise noted, comments regarding the applications must be 
received at the Reserve Bank indicated or the offices of the Board of 
Governors not later than May 13, 1997.
    A. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63102-2034:
    1. Concord EFS, Inc., Memphis, Tennessee; to engage de novo through 
its subsidiary, EFS Federal Savings Bank Oakland, Tennessee (in 
organization), and thereby indirectly acquire First Federal Bank, FSB, 
Memphis, Tennessee, and thereby engage in operating a savings 
association, pursuant to Sec.  225.28(b)(4)(ii) of the Board's 
Regulation Y.

    Board of Governors of the Federal Reserve System, April 23, 
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-10923 Filed 4-28-97; 8:45 am]
BILLING CODE 6210-01-F