Legal Interpretations
Bank Holding Companies/Savings and Loan Holding Companies/Change in Control - 2013 Letters
December 31, 2013 (PDF)
Letter to Pratin Vallabhaneni approving the applications by Principal Financial Group, Inc.; Principal Financial Services, Inc.; Principal Life Insurance Company; and Principal Holding Company, all of Des Moines, Iowa, to deregister as savings and loan holding companies.
December 23, 2013 (PDF)
Letter to Ryan Zacharia granting a request by JAM Partners, LP; JAM Consolidation Fund, LP; JAM Managers, LLC; Investure Global Equity (JAM), LLC; Investure Global Equity Fund, LP – All Asset Series; Investure Global Equity (GP), LLC; Investure, LLC; and Jacobs Asset Management, LLC, all of New York, New York, for relief from commitments made to the Board in connection with their acquisition of securities that were issued by Plumas Bancorp, Quincy, California, to the Department of the Treasury as part of the Troubled Asset Relief Program's Capital Purchase Program.
December 23, 2013 (PDF)
Letter to Ryan Zacharia granting a request by JAM Consolidation Fund, LP; JAM Special Opportunities Fund II, LP; JAM Managers, LLC; JAM Equity Partners, LLC; and Jacobs Asset Management, LLC, all of New York, New York, for relief from commitments made to the Board in connection with their acquisition of securities that were issued by First Trust Corporation, New Orleans, Louisiana, to the Department of the Treasury as part of the Troubled Asset Relief Program's Capital Purchase Program.
November 25, 2013 (PDF)
Letter to Ryan Zacharia granting a request by JAM Consolidation Fund, LP, JAM Managers, LLC, and Jacobs Asset Management, LLC, all of New York, New York, for relief from commitments made to the Board in connection with their acquisition of securities that were issued by Boscobel Bancorp, Inc., Boscobel, Wisconsin, to the Department of the Treasury as part of the Troubled Asset Relief Program's Capital Purchase Program.
November 15, 2013 (PDF)
Letter to Mark Chorazak, Esq., granting a request by The Carlyle Group L.P. ("Carlyle"), Washington, D.C., for relief from commitments that Carlyle made to the Board in connection with its acquisition of voting securities in Boston Private Financial Holdings, Inc., Boston, Massachusetts.
November 14, 2013 (PDF)
Letter to Bradford Hewitt approving the applications by Thrivent Financial for Lutherans and Thrivent Financial Holdings, Inc., both of Minneapolis, Minnesota, to deregister as savings and loan holding companies.
October 22, 2013 (PDF)
Letter to J. Victor Peterson, Esq., approving the notice on behalf of Gregory Mark Shepard to acquire 10 percent or more of the voting shares of Donegal Group, Inc., Marietta, Pennsylvania.
October 21, 2013 (PDF)
Letter to Michael A. Priest granting a request by JMAC, Inc. ("JMAC"), Columbus, Ohio, for relief from a commitment that JMAC made to the Board in connection with its acquisition of voting shares in DCB Financial Group, Lewis Center, Ohio.
October 17, 2013 (PDF)
Letter to Stanley Dickson, Jr., granting a request by Moross Limited Partnership, Pacesetter Management, Inc., and Windmill trust, each of Grosse Point Park, and Riddle Limited Partnership, Howell, for relief from commitments made to the Board in connection with the acquisition of voting shares in FNBH Bancorp, Inc., the parent company of First National Bank in Howell, both of Howell, all of Michigan.
September 26, 2013 (PDF)
Letter to Hector Becil granting a request by The Bank of Nova Scotia ("BNS"), Toronto, Canada, for relief from passivity commitments that BNS made to the Board in connection with its acquisition of voting shares in First BanCorp, San Juan, Puerto Rico.
September 17, 2013 (PDF)
Letter to Alcides I. Avila, Esq., approving the notice on behalf of Guido Edwin Hinojosa Cardoso to acquire a controlling interest in Anchor Commercial Bank, Juno Beach, Florida.
September 13, 2013 (2 MB PDF)
Letter to Donald J. Vaccaro denying the notice filed to acquire 51 percent of Urban Financial Group, Inc., Bridgeport, Connecticut.
August 12, 2013 (PDF)
Letter to H. Rodgin Cohen and Richard K. Kim approving the request by General Electric Company (GE) and The PNC Financial Services Group (PNC) for a temporary exemption from the Depository Institution Management Interlocks Act and Regulation LL for James E. Rohr to serve as a management official of GE, PNC, PNC Bank, N.A., and BlackRock, Inc., an affiliate of PNC.
June 20, 2013 (3 MB PDF)
Letter to Eric F. Grossman approving the notice filed by Morgan Stanley, New York, New York, to acquire additional shares of Morgan Stanley Smith Barney Holdings LLC from Citigroup Inc., New York.
May 8, 2013 (PDF)
Letter to Jeffrey Bornstein granting in part and denying in part temporary relief and other modifications related to the Board’s regulatory reporting requirements for savings and loan holding companies to General Electric Company, Fairfield, Connecticut.
May 8, 2013 (PDF)
Letter to Jeffrey T. Brown granting in part temporary relief from the Board’s regulatory reporting requirements for savings and loan holding companies to H&R Block, Inc., Kansas City, Missouri.
May 7, 2013 (PDF)
Letter to William Haney, Esq., that the elections filed by Sumitomo Mitsui Financial Group, Inc. and its subsidiary, Sumitomo Mitsui Banking Corporation, to become financial holding companies are effective.
April 30, 2013 (PDF)
Letter to Juan Carlos Alvarez granting temporary relief from the Board’s FR Y-14M report to Santander Holdings USA, Inc., Boston, Massachusetts.
April 11, 2013 (PDF)
Letter to Satish M. Kini advising that The Vanguard Group, Inc. and affiliated entities collectively may acquire up to 15 percent of any class of voting securities of a bank holding company, bank, savings and loan holding company, or savings association without being deemed to have acquired control of that institution under the Bank Holding Company Act, the Home Owners' Loan Act, or the Change in Bank Control Act when the acquisition complies with certain conditions.
April 2, 2013 (PDF)
Letter to Eloy U. Ortega granting a request by the Bank of Santa Barbara ("Bank") and the Hutton-Parker Foundation ("Foundation"), both of Santa Barbara, California, for limited relief from a passivity commitment that Foundation made to the Board in connection with its acquisition of voting shares in Bank.
February 22, 2013 (PDF)
Letter to Brian Morrissey granting temporary relief from and other modifications related to the Board's regulatory reporting requirements for savings and loan holding companies to American International Group, Inc., New York, New York.
February 13, 2013 (PDF)
Letter to Pamela C. Piarowski granting in part temporary relief from and other modifications related to the Board’s FR Y-14A report to BMO Financial Corporation, Wilmington, Delaware.
February 13, 2013 (PDF)
Letter to John Woods granting temporary relief from and other modifications related to the Board’s FR Y-14Q and FR Y-14M reports to UnionBanCal Corporation, San Francisco, California.
January 30, 2013 (PDF)
Letter to Lena V. Kiely approving the application by Ameriprise Financial, Inc., Minneapolis, Minnesota, to deregister as a savings and loan holding company.