[Federal Register Volume 66, Number 66 (Thursday, April 5, 2001)]
[Notices]
[Pages 18092-18093]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-8389]


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FEDERAL RESERVE SYSTEM


Notice of Proposals to Engage in Permissible Nonbanking 
Activities or to Acquire Companies that are Engaged in Permissible 
Nonbanking Activities

    The companies listed in this notice have 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, including the 
companies listed below, that engages either directly or through a 
subsidiary or other company, in a nonbanking activity that is listed in 
Sec. 225.28 of Regulation Y (12 CFR 225.28) 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.
    Each notice is available for inspection at the Federal Reserve Bank 
indicated. The notice also will 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. Additional information on all 
bank holding companies may be obtained from the National Information 
Center website at www.ffiec.gov/nic/.
    Unless otherwise noted, comments regarding the applications must be 
received at the Reserve Bank indicated

[[Page 18093]]

or the offices of the Board of Governors not later than April 16, 2001.
    A. Federal Reserve Bank of Cleveland (Paul Kaboth, Banking 
Supervision) 1455 East Sixth Street, Cleveland, Ohio 44101-2566:
    1. Fifth Third Bancorp and Fifth Third Financial, both of 
Cincinnati, Ohio; to acquire USB, Inc., Milwaukee, Wisconsin, and 
thereby indirectly acquire Universal Bank, F.A., Milwaukee, Wisconsin, 
and thereby in engage in permissible savings association activities, 
pursuant to Sec.  225.28(b)(4)(ii) of Regulation Y; USB Payroll 
Processing, Inc., Milwaukee, Wisconsin; USB Payment Processing, Inc., 
Milwaukee, Wisconsin; Electronic Processing, Inc., Milwaukee, 
Wisconsin; and Wellstreet Finance Ltd., Milwaukee, Wisconsin, and 
thereby engage in permissible data processing activities, pursuant to 
Sec.  225.28(b)(14)(i)(A) of Regulation Y. Comment regarding this 
application must be received not later than April 26, 2001.
    B. Federal Reserve Bank of New York (Betsy Buttrill White, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. First Union Corporation, Charlotte, North Carolina, to acquire 
through NYCE Corporation, Woodcliff, New Jersey, voting interests in 
SecureAccess Company, LLC, a Delaware limited liability company that 
will implement a secure Internet payment and authentication system and 
its related product applications, and distribute such systems and 
applications worldwide. NYCE proposes to directly engage in SAC-related 
activities, including the marketing and sale of the secure Internet 
payment and authentication system, and its related product 
applications. Notificant also will engage in data processing and 
related services to facilitate transactions among consumers or between 
consumers and commercial entities using various media such as the 
Internet, hand-held wireless devices, telephone systems and other 
account access means made available by participating financial 
institutions, pursuant to Sec.  225.28(b)(14) of Regulation Y.
    C. Federal Reserve Bank of Minneapolis (JoAnne F. Lewellen, 
Assistant Vice President) 90 Hennepin Avenue, Minneapolis, Minnesota 
55480-0291:
    1. McIntosh County Bank Holding Company, Inc., Ashley, North 
Dakota; to engage de novo in extending credit and servicing loans, 
pursuant to Sec.  225.28(b)(1) of Regulation Y.

    Board of Governors of the Federal Reserve System, March 30, 
2001.
Robert deV. Frierson
Associate Secretary of the Board.
[FR Doc. 01-8389 Filed 4-4-01; 8:45 am]
BILLING CODE 6210-01-S