State of California
| Gray Davis, Governor |
Business Transportation and Housing Agency |
| Department of Financial Institutions |
http://www.dfi.ca.gov |
 |
Monthly Bulletin |
| Volume 4, Number 8 |
February, 2001 |
DFI Seeking Comments Regarding Credit Union Regulations
The Department is conducting an extensive review of the Credit Union Regulations in order to identify changes which are necessary to, among other things, (1) clarify the regulations, (2) update the regulations to conform to existing law and industry practices, (3) relieve unnecessary regulatory burden, and (4) promote the safe and sound operation of credit unions. In light of this review, the Department invites comments from interested parties regarding the Credit Union Regulations. Based upon the comments received, the Department intends to amend the existing Credit Union Regulations. Comments should be received in writing, postmarked no later than April 30, 2001. Please send any comments to:
Deputy Commissioner Elizabeth J. Dooley
Department of Financial Institutions
ATTN: CU Regs
300 S. Spring Street, Ste. 15513
Los Angeles, CA 90013-1204
Submissions by e-mail may be sent to curegs@dfi.ca.gov. Please also include the name, title, company, street address and phone number of the sender; anonymous comments will not be accepted.
2001 Financial Institutions Law Now Available
The Banking Law, Industrial Bank Law, Payment Instruments Law, Business and Industrial Development Corporations Law, Savings Association Law, Credit Union Law, Industrial Loan Law and Related Laws, as of January 1, 2001 is now available in a convenient, 8 ½” x 11″ looseleaf format. The 2001 Financial Institutions Law replaces all earlier editions. Copies are in the process of being mailed to each Department licensee. Other interested parties and licensees that wish to receive additional copies may order the Financial Institutions Law from the Department of General Services, Documents and Publications Section. To order, please refer to the order form. Readers are reminded that the full text can be accessed from our Web site at http://www.dfi.ca.gov.
Receive the Monthly Bulletin by E-Mail
The Department makes the Monthly Bulletin available by e-mail as an PDF document. If you would be interested in receiving the Bulletin by e-mail, send e-mail to bulletin@dfi.ca.gov indicating your interest and the e-mail address where you would like the Bulletin to be sent. Also, please include your name, company name and phone number. The Monthly Bulletin is also available on our Web site at http://www.dfi.ca.gov
Monthly Activity Report
Commercial Bank Activity
New Bank
American Premier Bank
Proposed Location: in the vicinity of East Huntington Drive between Baldwin and Fifth Avenue, Arcadia, Los Angeles County
Correspondent: Henry M. Fields, Morrison & Foerster LLP
555 West Fifth Street, Los Angeles, CA 90013-1024
Phone: (213) 892-5200
Filed: 1/31/01
Application for Trust Powers
EastWest Bank
415 Huntington Drive, San Marino, Los Angeles County
Filed: 2/6/01
Conversion to State Charter
People’s Bank of California, Los Angeles, to convert from a federal savings bank to a state chartered bank under the same name.
Withdrawn: 11/13/00
Mergers
Antelope Valley Bank, Lancaster with and into California Bank & Trust, San Diego
Filed: 2/13/01
Eldorado Bank, Tustin, with and into California Bank & Trust, San Diego
Filed: 2/13/01
First Security Bank of New Mexico, N.A., Albuquerque, New Mexico, with and into Bank of the West, San Francisco
Effected: 2/16/01
Industrial Bank Activity
Acquisition of Branch Office
Affinity Bank, Ventura, to acquire the Irvine Branch Office of First Plus Bank, Tustin, located at 14252 Culver Drive, Irvine, Orange County
Approved: 2/8/01
Foreign Bank Activity
New Foreign (Other State) Bank
FTTrust Company
In the vicinity of the City of San Mateo, San Mateo County
(Facility – Uninsured Bank)
Contact person: Ellen R. Marshall
Morrison & Foerster LLP
19900 MacArthur Boulevard
Irvine, CA 92612-2445
Phone: (949) 251-7500
Filed: 1/31/01
Approved: 2/23/01
Credit Union Activity
Mergers
Cal West Credit Union, Newport Beach with and into Financial Partners Credit Union, Downey
Filed: 2/2/01
Citrus and Avocado Employees Federal Credit Union, Ventura with and into California Agribusiness Credit Union, Buena Park
Filed: 2/27/01
Mobil West Federal Credit Union, Torrance with and into Premier America Credit Union, Chatsworth
Filed: 2/20/01
Conversion to State Charter
Miramar Federal Credit Union, San Diego
Filed: 1/24/01
Transmitter of Money Abroad Activity
New Transmitter
Armenian Express, Inc.
Filed: 12/17/99
Approved: 4/17/00
Opened: 6/30/00
Issuer of Travelers Checks Activity
Voluntary Surrender of License
Societe Francaise du Cheque de Voyage
Effected: 2/13/01
DONALD R. MEYER
Commissioner of Financial Institutions
Bulletin for month ended
February, 2001, issued pursuant
to Financial Code, Section 258
The Monthly Bulletin is available without charge via email as a PDF attachment. To subscribe, please contact Mary Ann Havens at mhavens@dfi.ca.gov.