[Federal Register Volume 61, Number 150 (Friday, August 2, 1996)]
[Notices]
[Pages 40420-40421]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-19642]
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[[Page 40421]]
FEDERAL RESERVE SYSTEM
Notice of Proposals to Engage in Permissible Nonbanking
Activities or to Acquire Companies that are Engaged in Permissible
Nonbanking Activities
The company listed in this notice has 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. 225.25 of Regulation Y (12 CFR 225.25)
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.
The 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, including 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'' (12 U.S.C. 1843). 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 the application must be
received at the Reserve Bank indicated or the offices of the Board of
Governors not later than August 16, 1996.
A. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Otto Bremer Foundation, St. Paul, Minnesota; and Bremer
Financial Corporation, St. Paul Minnesota, to acquire the lease
servicing program and related assets of CFS Financial Corp.,
Minnetonka, Minnesota, pursuant to Sec. 225.25(b)(5) of the Board's
Regulation Y. This activity will be conducted by Notificants through a
wholly-owned nonbank subsidiary, Bremer Business Finance Corporation,
St. Paul, Minnesota.
Board of Governors of the Federal Reserve System, July 29, 1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-19642 Filed 8-1-96; 8:45 am]
BILLING CODE 6210-01-F
