State of California
| Gray Davis, Governor |
Business Transportation and Housing Agency |
| Department of Financial Institutions |
http://www.dfi.ca.gov |
 |
Monthly Bulletin |
| Volume 5, Number 7 |
January, 2002 |
DFI Sacramento Regional Office has Moved
On Tuesday, January 22, 2002, the Sacramento Regional Office opened for business at a new location, 1810 13th Street, Sacramento, CA 95811. Telephone numbers did not change. You may continue to contact the Sacramento Office by calling (916) 322-5966 or by dialing the direct line of Sacramento staff.
Recognizing and Reporting Financial Abuse
Training Program by California Community Partnership for the Prevention of Financial Abuse
The California Community Partnership for the Prevention of Financial Abuse (CCPPFA) is proposing to develop a videotape-based training program to help educate financial institution personnel about detecting and reporting financial abuse of the elderly; and undertake a consumer awareness outreach campaign titled “Be Wise” to educate senior citizens about protecting themselves against financial abuse. Financial institution employees are in a unique position to have early and often the only, knowledge of elder financial abuse and can help protect seniors by reporting suspected fraud. The training program will help employees to recognize the warning signs of financial abuse.
Financial abuse of the elderly is a nationwide problem. The solution to this issue requires the concerted efforts of public as well as private entities. The Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the California Department of Financial Institutions (DFI) — individually and collectively — support CCPPFA’s initiative and leadership in helping to prevent financial abuse of the elderly. Consumer awareness and education on banking and financial matters are essential ingredients in helping to prevent financial abuse of the elderly.
DFI along with the FDIC and OTS have a long history of encouraging all financial institutions to play a role in supporting non-profit organizations, such as CCPPFA, that provide training and educational programs that promote financial literacy and consumer credit education initiatives in this area and other arenas.
The DFI, FDIC and OTS confirm that financial institution investments in, as well as grants and in-kind donations to, organizations such as CCPPFA that provide financial literacy and consumer educational programs to low- and moderate-income individuals, would be considered “qualified investments” for purposes of the investment Test of the Community Reinvestment Act regulations.
For additional information on the training video or the Be Wise campaign or the activities of CCPPFA, contact Jenefer Duane, Executive Director, (415) 258-9111 or by email jduane@marin.org
Community Development Revolving Loan Program for Credit Unions
The National Credit Union Administration (NCUA) has announced that it will accept applications for participation in the Community Loan Development Revolving Loan Program throughout calendar year 2002, subject to availability of funds. Application procedures for qualified low-income credit unions are in NCUA regulations.
The purpose of the program is to assist officially designated “low-income” credit unions in providing basic financial services to residents in their communities that result in increased income, ownership and employment. For more information contact the NCUA Office of Credit Union Development, 1775 Duke Street, Alexandria, VA 22314-3428; Tel: (703) 518-6610.
Monthly Activity Report
Commercial Bank Activity
New Banks
Mirae Bank
Proposed Location: in the vicinity of Olympic Boulevard and Union Avenue, Los Angeles, Los Angeles County
Correspondent: Loren Hansen, Esq.
Knecht & Hansen
1301 Dove Street #900, Newport Beach, CA 92660
Phone: (949) 851-8070
Approved: 1/2/02
New CCB Bank
14685 Mono Way, Sonora, Tuolumne County
Correspondent: S. Alan Rosen
Horgan, Rosen, Beckham & Coren
23975 Park Sorrento, Suite 200
Calabasas, CA 91302-4001
Phone: (818) 591-2121
Filed: 1/14/02
Conversion to State Charter
Pan American Bank, FSB, San Mateo, to convert to state chartered bank under the name United PanAm Bank
Withdrawn: 1/7/02
Six Rivers National Bank, Eureka, to convert to state chartered bank under the name Six Rivers Bank
Effected: 1/2/02
Merger
Asahi Bank of California, Los Angeles, with and into Imperial Capital Bank, La Jolla
Approved: 1/31/02
Effected: 1/31/02
Capitol Thrift & Loan, Napa, with and into Capitol Valley Bank, Roseville
Effected: 12/31/01
Central California Bank, Sonora, with and into New CCB Bank, Sonora (Proposed)
Filed: 1/14/02
First Community Bank of the Desert, Indian Wells, with and into Pacific Western National Bank, Santa Monica
Effected: 1/23/02
United California Bank, Los Angeles, with and into Bank of the West, San Francisco
Filed: 12/18/01
Acquisition of Partial Business Unit
Comerica Bank-California, San Jose, to acquire a partial business unit from Progress Bank, Progress Financial Corporation and Progress Capital, Inc., Blue Bell, Pennsylvania
Filed: 1/8/02
Approved: 1/29/02
Effected: 1/31/02
Sale of Branch Offices
California Bank & Trust, San Diego, to sell the Watsonville and Monterey Branch Offices to First National Bank of Central California, Salinas
Filed: 1/18/02
Voluntary Surrender of License
Dresdner RCM Trust Company
Four Embarcadero Center, San Francisco, San Francisco County
Effected: 7/30/01
Industrial Loan Company Activity
New Industrial Loan Company
Priority One Premium Finance, Inc.
2501 E Chapman Avenue, Suite 100, Fullerton, Orange County
Filed: 12/3/01
Foreign (Other Nation) Bank Activity
Sale of Partial Business Unit
National Bank of Canada, to sell a partial business unit to PNC Bank, N.A., Pittsburgh, Pennsylvania
Filed: 1/15/02
Approved: 1/15/02
Effected: 1/15/02
Voluntary Surrender of License
Overseas Union Bank Limited
777 South Figueroa Street, Los Angeles, Los Angeles County
Effected: 1/2/02
Credit Union Activity
Conversions to State Charter
Marine Air Federal Credit Union, Santa Ana
Withdrawn: 1/18/02
Marine Corps West Federal Credit Union, Camp Pendleton, as Pacific Marine Credit Union
Effected: 12/31/01
Mergers
BayTech Federal Credit Union, Santa Clara into Technology Credit Union, San Jose
Effected: 2/1/01
CSAA Employees Federal Credit Union, San Francisco into Redwood Credit Union, Santa Rosa
Effected: 4/3/00
Sacramento District Federal Credit Union, Loomis, into Nazarene Credit Union, Brea
Effected: 5/28/00
Transmitter of Money Abroad Activity
New Transmitter
Sigue Corporation
1518 San Fernando Road
San Fernando, CA 91340
(818) 493-5101
Contact person: Manuel J. Diaz, Esq.
Opened: 1/14/02
Voluntary Surrender of License
Foreign Exchange Limited
1108 East 17th Street, Santa Ana, Orange County
Effected: 12/20/01
DONALD R. MEYER
Commissioner of Financial Institutions
Bulletin for month ended
January, 2002, issued pursuant
to Financial Code, Section 258
The Monthly Bulletin is available without charge via email as a PDF attachment. To subscribe, please send e-mail with your name, e-mail address, and company name and phone number to bulletin@dfi.ca.gov.
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| Consumer Compliance | (800) 622-0620 |