[Federal Register Volume 60, Number 64 (Tuesday, April 4, 1995)]
[Notices]
[Pages 17064-17065]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-8158]



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FEDERAL RESERVE SYSTEM

Western 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 
[[Page 17065]] 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 
April 18, 1995.
    A. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Western Bancorporation, Inc., Duluth, Minnesota; to engage de 
novo through its subsidiary Premier Credit Corporation, Duluth, 
Minnesota, in industrial banking activities, and the purchase of dealer 
paper on both recourse and non-recourse bases, at a discount from 
automobile dealers and other merchants who sell at retail to the 
public, pursuant to Sec.  225.25(b)(2) of the Board's Regulation Y. 
These activities will be conducted throughout the states of Minnesota 
and Wisconsin.

    Board of Governors of the Federal Reserve System, March 29, 
1995.
William W. Wiles,
Secretary of the Board.
[FR Doc. 95-8158 Filed 4-3-95; 8:45 am]
BILLING CODE 6210-01-F