DFI Monthly Bulletin – January 2012

Monthly Bulletin

Volume 15, Issue 7 – January 2012

New Money Transmission Bond Forms

DFI has revised its existing bond form for receiving money for transmission and has adopted a new bond form for the selling or issuing of payment instruments or stored value. Each licensee is required to update its bond form(s) using the new forms.  Licensees who receive money for transmission must file the form entitled “Receiving Money for Transmission Licensee Bond” and licensees who sell or issue payment instruments or stored value must file the form entitled “Payment Instrument or Stored Value Licensee Bond.”  Licensees who both receive money for transmission and also sell or issue either payment instruments or stored value must file both forms pursuant to Financial Code §2037.

These forms, approved by the California Attorney General, have been published in the California Code of Regulations.  They are published in Title11, California Code of Regulations, Article 50 § 101.1 (Receiving Money for Transmission Licensee Bond) and § 101.2 (Payment Instrument or Stored Value Licensee Bond).  However, pursuant to Government Code §11344, these forms were not published in full in the California Code of Regulations. Therefore, copies of the forms can be obtained from the Department of Financial Institutions’ Money Transmission Division.

For more information, contact Julio Prada at (415) 263-8540 or by email at jprada@dfi.ca.gov or Oscar Lumen at (415) 263-8577 or by email at olumen@dfi.ca.gov.

Commercial Bank Activity


Stellar Business Bank, Covina, to merge with and into AltaPacific Bank, Santa Rosa
Filed: 11/16/11
Approved: 1/6/12

Acquisition of Control

Carpenter Community BancFund, LP, Carpenter Community BancFund-A, LP, Carpenter Fund Manager GL, LLC, Carpenter Fund Management Company, LLC, CCFW, Inc., SCJ, Inc., to acquire control of Pacific Mercantile Bank
Approved: 1/9/12

David Bustamante, Carlos A. Torres, Jr., Martin A. Torres and Ramona A. Banuelos, to acquire control of Pan American Bank
Filed: 12/13/11
Approved: 1/5/12

Private Bancorp of America, Inc., to acquire control of San Diego Private Bank
Approved: 1/26/12

Purchase of Partial Business Unit

California Republic Bank, Newport Beach, to acquire the Westlake Village branch of National Bank of California, N.A., Westlake Village
Effected: 1/6/12

Voluntary Surrender of License

Mizuho Corporate Bank of California
Effected: 1/4/12

Credit Union Activity

Field of Membership

Two credit unions received approval to add two new fields of membership during December 2011.


Pacifica-Coastside Credit Union, Pacifica, to merge with and into San Francisco Fire Credit Union, San Francisco
Approved: 6/20/11
Effected: 1/6/12

Premium Finance Company Activity

New  Premium Finance Company

Premium One Funding Corporation
8530 La Mesa Boulevard, La Mesa, San Diego County
Withdrawn: 1/11/12

Voluntary Surrender of License

Fulcrum Capital Strategies, Inc.
Effected: 1/3/12

Foreign (Other Nation) Bank Activity

Voluntary Surrender of License

Allied Irish Bank
601 South Figueroa Street, Los Angeles, Los Angeles County (Representative Office)
Notified: 1/19/12
Effected: 8/31/11

Foreign (Other State) Bank Activity

New Facility

Dubuque Bank and Trust Company
9171 Towne Center Drive, San Diego, San Diego County
Opened: 10/3/11

Dubuque Bank and Trust Company
• City of Temecula, County of Riverside
• City of Redlands, County of San Bernardino
• City of Corona, County of Riverside
Withdrawn: 1/30/12

Money Transmitter Activity

New Money Transmitter

Kwik Dollar LLC
Filed: 1/27/12

Amendment to Application

NoteWorld LLC dba NoteWorld Servicing Center, which filed an application for a money transmitters license on November 23, 2011, changed its name to Meracord LLC dba Meracord on January 9, 2012.

Commissioner of Financial Institutions
Bulletin for Month ended     
January 2012, issued pursuant
to Financial Code section 258