[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]


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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