[Federal Register Volume 60, Number 199 (Monday, October 16, 1995)]
[Notices]
[Page 53618]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-25538]



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FEDERAL RESERVE SYSTEM
Synovus Financial Corp., et al.; Notice of Applications to Engage 
de novo in Permissible Nonbanking Activities

    The companies listed in this notice have 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.
    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 the applications must be 
received at the Reserve Bank indicated or the offices of the Board of 
Governors not later than October 30, 1995.
    A. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. Synovus Financial Corp., Columbus, Georgia; to engage de novo 
through its subsidiary, Vital Processing Services, LLC, in merchant 
data processing activities, pursuant Sec.  225.25(b)(7) of the Board's 
Regulation Y. Visa U.S.A. will be the coventurer with the remaining 50 
percent ownership. The geographic scope of this is activity is 
throughout the United States, Puerto Rico, Canada, and Mexico.
    B. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63166:
    1. CNB Bancshares, Inc., Evansville, Indiana, to engage de novo 
through its subsidiary, Citizens Trust Company of Indiana, N.A., 
Evansville, Indiana, in functions or activities that may be performed 
by a trust company (including activities of a fiduciary, agency or 
custodial nature), pursuant to Sec.  225.25(b)(3) of the Board's 
Regulation Y.

    Board of Governors of the Federal Reserve System, October 10, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-25538 Filed 10-13-95; 8:45 am]
BILLING CODE 6210-01-F