Important Notices

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

    Merger

    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.

    Merger

    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.



    WILLIAM S. HARAF
    Commissioner of Financial Institutions


    Bulletin for Month ended
    January 2012, issued pursuant
    to Financial Code section 376