71-1
71-1
San Francisco, California
October 21, 1971
Dear Mr. ___________:
This will confirm our telephone conversation of October 12, 1971.
From the standpoint of the California Banking Law, factoring is a permissible activity for the San Francisco branch office of _____________________, and we will not object if the branch office engages in factoring.
If we may be of further assistance, please feel free to contact us.
Very truly yours,
DONALD E. PEARSON
Superintendent of Banks
By
JAMES F. CARRIG
Counsel