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Interpretations and Actions: December 2006

Vol. 19, No. 12

Interpretive Letters

Letter No. Topic
1075 Letter concludes that national banks may retain stock received in IPO of MasterCard, Inc., because it is a byproduct of permissible membership in MasterCard. 11/14/2006
1076 Letter concludes that the lending limits in 12 U.S.C. § 84 and the public welfare investments limits of 12 U.S.C. § 24(11) are separate and independent of each other. 11/14/2006

Corporate Decisions

Letter No. Topic
2006-14 Applications and Notice by Chase Bank USA, N.A., Newark, Delaware, related to the acquisition of Pier 1 National Bank (Control Numbers 2006 ML 02 0017; 2006 ML 08 0019; 2006 ML 11 003; & 2006 Ml 12 0307), 11/17/2006
2006-15 Application by American First national Bank, Houston, Texas, for reorganization and formation of a holding company (Control Number 2006 SO 12 0383), 11/30/2006

Approvals with Conditions Enforceable under 12 U.S.C. 1818

Letter No. Topic
769 Application by UBS AG to establish a limited federal branch with the title of UBS Tampa Branch to be located at 2202 N. Westshore Boulevard, Suite 200, Tampa, Florida (Control Number 2006 IB 10 0003), 11/02/2006
770 Application to merge Redstone Bank, National Association, Houston, Texas, into Redstone Interim Bank, National Association, with Redstone Bank, National Association as the resulting institution (Control Number 2006 SO 02 0047), 11/15/2006
771 Application to establish a new national bank with the title of "FineMark National Bank & Trust," Fort Myers, Florida (Control Number 2006 SO 01 0016), 11/16/2006
772 Application to establish a new national bank with the title of "Madison National Bank," Merrick, New York and establish a de novo branch at 849 Whitman Road, Melville, New York (Control Numbers 2006 NE 01 0013 & 2006 NE 05 0013), 11/28/2006
773 Application by National Bank of California, Los Angeles, California, to establish an operating subsidiary, NBOC Processing Services, Inc. and engage in merchant processing and ancillary finders' activities (Control Number 2006 WE 08 0007), 11/30/2006

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2006-135, announcing the availability of enforcement actions. Copies of the final actions are available by writing to the OCC, Public Information Room, Mail Stop 1-5, Washington, D.C. 20219. When ordering, specify the appropriate enforcement action number.

Community Reinvestment Act (CRA) Performance Evaluations

Enclosed is a list of CRA performance evaluations that became public during the period of November 14 through December 14, 2006.

PLEASE NOTE: Interpretive Letters and No-Objection Letters reflect the views of the Comptroller's legal staff. Corporate Decisions, CRA Decisions and Conditional Approvals are from the office of Licensing. The Community Development Investment Letters are from the office of Community Affairs. The list of CRA Ratings is from the Communications Division. For copies of the CRA evaluations, you may either contact the bank directly, or you may write to the Office of the Comptroller of the Currency (OCC) in any of three ways: by mail to the OCC, Attn: Public Information Room, Mail Stop 1-5, Washington, D.C. 20219; by fax to (202) 874-4448; or by e-mail to You may also write to the OCC for copies of enforcement actions and charters with standard conditions.

Members of the news media are encouraged to cite the letter number when reporting or summarizing documents from this package. This helps us to process single requests based upon your citation in a timelier manner.

The Office of the Comptroller of the Currency publishes INTERPRETATIONS AND ACTIONS monthly. Subscriptions are available at a rate of $200 per year by writing to the Comptroller of the Currency, ATTN: Accounts Receivable, Mail Stop 4-8, 250 E Street, S.W., Washington, DC 20219. Prepayment is requested. Suggestions, comments or questions may be sent to Jacqueline J. England, Comptroller of the Currency, Communications Division, Mail Stop 3-2, Washington, DC 20219.