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National Association (Banking)
In the United States, a national bank is an ordinary private bank operating within the federal government's regulatory structure, which usually but not always operates in multiple U.S. states, and is under the supervision of the Office of the Comptroller of the Currency. Depending on the matter, it also may have to comply with some U.S. state regulations. It is legally required to be a member of the Federal Reserve System. A national bank in the U.S. is distinguished from a State bank (United States), state bank, whose permit or charter is granted by one of the U.S. states, and can only do business in that state. Overview The term ''national bank'' in the U.S. context originally referred to the American Revolution, Revolutionary War–era Bank of North America, its successor, the First Bank of the United States, or that institution's successor, the Second Bank of the United States. The first survives as an acquisition of Wells Fargo, while the others are defunct. In the modern us ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of The Comptroller Of The Currency
The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to corporate charter, charter, bank regulation in the United States, regulate, and supervise all National bank (United States), national banks and Federal savings association, federal thrift institutions and the federally licensed branches and agencies of foreign banks in the United States. The acting comptroller of the currency is Rodney E. Hood, who took office on February 10, 2025. Duties and functions Headquartered in Washington, D.C., it has four district offices located in New York City, Chicago, Dallas and Denver. It has an additional 92 operating locations throughout the United States. It is an independent Government agency, bureau of the United States Department of the Treasury and is headed by the comptroller of the currency, appointed to a five-year term by the president w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
McFadden Act
The McFadden Act is a United States federal law that reformed the U.S. banking system. The Act liberalized branch banking rules, forcing states to give the same branching rights to national banks and state banks. The bill, based on the recommendations made by former Comptroller of the Currency Henry May Dawes, was signed into law by President Calvin Coolidge on February 25, 1927. It is named after Louis Thomas McFadden, member of the United States House of Representatives and Chairman of the United States House Committee on Banking and Currency. The bill was first introduced in Congress by McFadden on February 11, 1924. The Act sought to give national banks competitive equality with state-chartered banks by letting national banks branch A branch, also called a ramus in botany, is a stem that grows off from another stem, or when structures like veins in leaves are divided into smaller veins. History and etymology In Old English, there are numerous words for branch, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crocker National Bank
Crocker National Bank was an American bank headquartered in San Francisco, California. It was acquired by and merged into Wells Fargo Bank in 1986. History The bank traces its history to the Woolworth National Bank in San Francisco. Charles Crocker, who was one of The Big Four of the Central Pacific Railroad and the head of construction for the western half of America's first transcontinental railroad, acquired a controlling interest in Woolworth for his son William Henry Crocker. The bank was renamed Crocker Woolworth National Bank, later Crocker National Bank. In 1925, Crocker National merged with the First National Bank of San Francisco, founded by James D. Phelan, to form Crocker First National Bank. In 1956, Crocker First National Bank merged with the Anglo California National Bank (established by Herbert Fleishhacker) to form Crocker-Anglo Bank. In 1963, Crocker-Anglo Bank merged with Los Angeles' Citizens National Bank, to become Crocker-Citizens Bank. and later ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
City National Bank (California)
City National Bank (CNB) is a bank headquartered at City National Plaza in Los Angeles, California. CNB was founded in 1957, and since 2015 is a subsidiary of the Toronto-based Royal Bank of Canada. It is the 30th largest bank in the United States . CNB has been dubbed the "Bank to the Stars" due to its extensive relationships with numerous Hollywood entertainment industry clients, and deals with many exclusive and premier clients from various media, including television, film, theater and the arts. Management The bank had total assets of $91 billion (as of June 1, 2022). It offers a full complement of banking, trust and investment services through 75 offices, including 19 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Minneapolis, Nashville, Washington, DC and Atlanta. After the closure or merger of many Los Angeles banks, it has become the largest bank headquartered in the Greater Los Angeles Area. It also acts as a p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Valley National Bank Of Arizona
Valley National Bank of Arizona was a bank based in Phoenix, Arizona, founded in 1900 and acquired by Bank One in 1992. The bank was one of Arizona's leading financial institutions during the 20th century and the last major independent bank in Arizona at the time of its acquisition. History Formation and early development The history of Valley National Bank can be traced back to the establishment of the Gila Valley Bank in Solomonville, Arizona, in Graham County, on January 16, 1900. The primary shareholder of the Gila Valley Bank was town founder Isadore Solomon, who established the town to support the area's copper mines. The bank was well-positioned to contribute to nearby communities in Arizona's copper mining country, such as Safford, Arizona, Safford, Morenci, Arizona, Morenci and Clifton, Arizona, Clifton. Charles E. Mills was bank president and became the bank's majority shareholder by 1908. The Valley Bank, another predecessor to Valley National Bank, was a Phoenix-ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First National Bank Alaska
First National Bank Alaska is an American bank founded in 1922 by Winfield Ervin Sr., as The First National Bank of Anchorage. The first branch stood on the corner of 4th and G Streets in Anchorage, Alaska. History The bank was founded in 1922 by candy maker Winfield Ervin Sr. at the corner of 4th and G Streets in Anchorage, Alaska. The bank still operates a branch at this location today. Known at the time as The First National Bank of Anchorage, the business benefited from the Alaska Railroad construction boom of the early 1920s.Bruce Parham, “Cuddy, Warren N.,” Cook Inlet Historical Society, Legends & Legacies, Anchorage, 1910-1940, http://www.alaskahistory.org In 1941, the bank was purchased by Warren N. Cuddy, who took over as president. Cuddy first came to Alaska in 1914, settling in Valdez and working as a grocery clerk in the Valdez Mercantile Company. During this time he began to study law and met his future wife, Lucy Hon. They moved to Anchorage in 1933, where Cudd ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First National Bank (Mobile, Alabama)
The First National Bank is a historic bank building in Mobile, Alabama. It was built in 1905 to the designs of local architectural firm Watkins, Hutchisson, and Garvin. The two-story masonry structure is in the Classical Revival style and features a brick and terracotta facade. ''See also:'' It was placed on the National Register of Historic Places The National Register of Historic Places (NRHP) is the Federal government of the United States, United States federal government's official United States National Register of Historic Places listings, list of sites, buildings, structures, Hist ... on November 17, 1978. References Bank buildings on the National Register of Historic Places in Alabama National Register of Historic Places in Mobile, Alabama Buildings and structures in Mobile, Alabama Neoclassical architecture in Alabama Commercial buildings completed in 1905 1905 establishments in Alabama {{Alabama-NRHP-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Credit Union Act
The Federal Credit Union Act is an Act of Congress enacted in 1934. The purpose of the law was to make credit available and promote thrift through a national system of nonprofit, cooperative credit unions. This Act established the federal Credit unions in the United States, credit union system and created the Bureau of Federal Credit Unions, the predecessor to the National Credit Union Administration, to charter and oversee federal credit unions. The general provisions in the Federal Act were based on the Massachusetts Credit Union Act of 1909,Presently codified at Mass. Gen. Laws ch. 171, §§ 1-84 (2008) and became the basis of many other state credit union laws. Under the provisions of the Federal Credit Union Act, a credit union may be chartered under either Law of the United States, federal or State law (United States), state law, a system known as dual chartering, which is still in existence today. Credit union law in the U.S. built on earlier legislation such as that devel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Union
A credit union is a member-owned nonprofit organization, nonprofit cooperative financial institution. They may offer financial services equivalent to those of commercial banks, such as share accounts (savings accounts), share draft accounts (checking account, cheque accounts), credit cards, Credit (finance), credit, share term certificates (Certificate of deposit, certificates of deposit), and online banking. Normally, only a member of a credit union may deposit account, deposit or loan, borrow money. In several African countries, credit unions are commonly referred to as ''SACCOs'' (''savings and credit co-operatives''). Worldwide, credit union systems vary significantly in their total assets and average institution asset size, ranging from volunteer operations with a handful of members to institutions with hundreds of thousands of members and assets worth billions of US dollars. In 2018, the number of members in credit unions worldwide was 375 million, with over 100 millio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of Thrift Supervision
The Office of Thrift Supervision (OTS) was a List of federal agencies in the United States, United States federal agency under the United States Department of the Treasury, Department of the Treasury that chartered, supervised, and regulated all federally chartered and state-chartered savings banks and savings and loans associations. It was created in 1989 as a renamed version of the Federal Home Loan Bank Board, another federal agency (that was faulted for its role in the savings and loan crisis). Like other U.S. federal bank regulators, it was paid by the banks it regulated. The OTS was initially seen as an aggressive regulator, but was later lax. Declining revenues and staff led the OTS to Regulatory capture, market itself to companies as a lax regulator in order to get revenue. The OTS also expanded its oversight to companies that were not banks. Some of the companies that failed under OTS supervision during the 2008 financial crisis include American International Group ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Savings Bank
Federal savings associations (also called "federal thrifts" or "federal Savings Banks"), in the United States, are institutions chartered by the Office of Thrift Supervision which is now administered by Office of the Comptroller of the Currency after the agencies merged. Institutions chartered by the OTS are still regulated according to the rules and regulations of Federal Savings Banks. Mortgages issued by Federal Savings Banks are pursuant to the provisions of the Home Owners' Loan Act, a U.S. federal statute. Although the activities of federal thrifts were once confined primarily to taking deposits from consumers and making residential mortgage loans, federal thrifts are now authorized to offer a wide range of financial products and services. Federal thrifts should not be confused with national banks which are banks chartered under federal law by the Office of the Comptroller of the Currency. Although the differences between federal thrifts and national banks have diminishe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savings And Loan Association
A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans. While the terms "S&L" and "thrift" are mainly used in the United States, similar institutions in the United Kingdom, Ireland and some Commonwealth countries include building societies and trustee savings banks. They are often mutually held (often called mutual savings banks), meaning that the depositors and borrowers are members with voting rights, and have the ability to direct the financial and managerial goals of the organization like the members of a credit union or the policyholders of a mutual insurance company. While it is possible for an S&L to be a joint-stock company, and even publicly traded, in such instances it is no longer truly a mutual association, and depositors and borrowers no longer have membership rights and managerial control. By law, thrifts can have no more than 20percent of their lend ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
