[Federal Register Volume 60, Number 18 (Friday, January 27, 1995)]
[Notices]
[Pages 5396-5397]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-2055]



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FEDERAL RESERVE SYSTEM

Norwest Corporation, et al.; Acquisitions of Companies Engaged in 
Permissible Nonbanking Activities

    The organizations listed in this notice have applied under Sec.  
225.23(a)(2) or (f) of the Board's Regulation Y (12 CFR 225.23(a)(2) or 
(f)) 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 acquire or control voting securities or assets of 
a company engaged 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.
    Each 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.
    Unless otherwise noted, comments regarding each of these 
applications must be received at the Reserve Bank 
[[Page 5397]] indicated for the application or the offices of the Board 
of Governors not later than
    A. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Norwest Corporation, Minneapolis, Minnesota; to acquire Stan-
Shaw Corporation, Anaheim Hills, California, and thereby engage in 
acting as trustee under deeds of trust, preparing and filing notices of 
default, reconveyances and related documents, pursuant to Sec.  
225.25(b)(3) of the Board's Regulation Y.
    2. Norwest Corporation, Minneapolis, Minnesota; to acquire 
Directors Mortgage Loan Corporation, Riverside, California, and thereby 
engage in (1) the origination, sale and servicing of residential 
single-family, first mortgage loans, the retention, purchase and sale 
of servicing rights associates with such mortgage loans, pursuant to 
Sec.  225.25(b)(1) of the Board's Regulation Y, and (2) the acquisition 
of 24.6 percent of Mission Savings and Loan Association, Riverside, 
California, pursuant to Sec.  225.25(b)(9) of the Board's Regulation Y.
    3. Norwest Corporation, Minneapolis, Minnesota; to acquire 
Directors Insurance Service, Riverside, California, and thereby engage 
in (1) providing, as agent for various insurance underwriters, a full 
line of home mortgage insurance products, including mortgage life, 
flood, and earthquake insurance, pursuant to section 4(c)(8)(G) of the 
Bank Holding Company Act.

    Board of Governors of the Federal Reserve System, January 23, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-2055 Filed 1-26-95; 8:45 am]
BILLING CODE 6210-01-F