DFI Monthly Bulletin – February 2013

Monthly Bulletin

Volume 16, Issue 8 – February 2013

California Financial Literacy Month

April 2013

DFI is participating in the 13th Annual California Financial Literacy Month (CAFLM) and encourages financial institutions to highlight your current financial literacy activities or become involved in this important effort to make financial literacy a priority.

This coordinated consumer education and outreach campaign encourages individuals to take full advantage of free resources designed to improve financial literacy and increase decision-making power. This year’s theme is “Empowering Californians To Make Well-Informed Financial Decisions,” highlighting the importance of making educated and affordable financial decisions to achieve financial goals. DFI will participate in a Financial Literacy Fair at the State Capitol on April 10, 2013 and many other events, including workshops and classroom visits to provide free resources for children and adults on topics like saving and money management.

In preparation of California Financial Literacy Month, DFI will feature a financial literacy program, service or resource every day in March and April on the DFI’s Blog, see caflm.blogs.ca.gov, to highlight the activities of government agencies, financial institutions and financial literacy organizations. If you would like to submit your financial literacy program to be considered for the blog, please contact Alana Golden, alana.golden@dfi.ca.gov or 916-323-7012. Please include the name of the program, a brief description, language/s, target audience (grade level, adult, etc.), target user (student, teacher, parent, etc.), and your contact information, including a Website, email address and phone number. You may submit a logo/s and/or photo/s in jpeg or gif format. Featured financial literacy programs will also be posted to DFI’s Facebook and Twitter accounts.

FinCEN Reminds Financial Institutions to Adopt New Report Format by April 1, 2013

On February 23, 2012, the Financial Crimes Enforcement Network (FinCEN) issued a Final Notice requiring the electronic filing of most Bank Secrecy Act (BSA) reports by July 1, 2012. Specifically, this action mandates the electronic submission of Suspicious Activity Reports (SARs), Currency Transaction Reports (CTRs), Registration of Money Services Business (RMSBs), and Designation of Exempt Person Reports (DOEPs). Financial institutions are reminded that they must begin using the new FinCEN reports, which are available only electronically through the BSA E-Filing System, by April 1, 2013.

View the entire notice at http://www.fincen.gov/whatsnew/html/20130307.html.

Commercial Bank Activity

New Bank
RBB Interim State Bank
Filed: 2/19/13

Acquisition of Control

Richard Tan requests DFI’s approval to acquire control of California Business Bank
Filed: 2/26/13


BBCN Bank, Los Angeles, requests DFI’s approval to merge with Pacific International Bank, Seattle, Washington
Effected:  2/15/13

Central Valley Community Bank, Fresno, requests DFI’s approval to merge with Visalia Community Bank, Visalia
Filed: 2/7/13

First California Bank, Westlake Village, requests DFI’s approval to merge with Premier Service Bank, Riverside
Withdrawn: 2/7/13

Royal Business Bank, Los Angeles, requests DFI’s approval to merge with Los Angeles National Bank, Buena Park
Filed: 2/19/13

Purchase of Partial Business Unit

Manufacturers Bank, Los Angeles, requests DFI’s approval to acquire the Glendale branch of National Bank of California, Los Angeles
Effected: 2/8/13

Premium Finance Company Activity

New Premium Finance Company Application

Omnisure Group PFCA, INC.
2361 W. 20th Street, Los Angeles, Los Angeles County
Filed: 2/4/13

Foreign (Other State) Bank Activity

New Facility

Branch Banking and Trust Company
Spear Tower, One Market Street, San Francisco, San Francisco County (Facility – Insured Bank)
Notified: 2/12/13

Cole Taylor Bank
4455 Lamont Street, San Diego, San Diego County (Facility – Insured Bank)
Notified:  2/22/13

HomeStreet Bank
225 S. Lake Avenue, Pasadena, Los Angeles County (Facility – Insured Bank)
Opened: 2/25/13

Credit Union Activity

Change of Name

National 1st Credit Union, Santa Clara to change its name to PremierOne Credit Union
Effected:  2/12/13

Field of Membership

One credit union received approval from DFI to add one new field of membership during January 2013.

Bylaw Amendment

Two credit unions received approval from the DFI for two bylaw amendments during January 2013.

Trust Company Activity

Acquisition of Control

The Carlyle Group L.P., to acquire control of Trust Company of the West

Money Transmitter Activity

New Money Transmitter Application for License

Square, Inc
License issued: 2/1/13
TouchPay Holdings, LLC
License issued: 2/27/13

World First USA, Inc.
Filed: 2/26/13

Voluntary Surrender of License

Sonali Exchange Co. Inc.
Effected: 2/23/12

Commissioner of Financial Institutions

Bulletin for Month ended
February 2013, issued pursuant
to Financial Code section 376