Regulatory Alerts2022-04-01
Added · Updated
Monthly Bulletin — April 2022
The North Dakota Department of Financial Institutions issued this bulletin to inform the public and financial institutions of pending applications by state-chartered banks, credit unions, and trust companies. The document lists specific regulatory actions, including approvals for name waivers allowing entities like Trustmark Enterprises and Bridge Trust USA to use 'trust' in their trade names, and a preliminary application regarding a change in control for First Financial Corporation. Additionally, the bulletin establishes the usury rate for unregulated lenders at 7.00% for May 2022.
BULLETIN APPLICATIONS 5.2.2022 Amend Articles of Association Change in Control Name Waiver Usury Department of Financial Institutions www.nd.gov/dfi 1200 Memorial Highway Bismarck, ND 58504 (701)328-9933 This Bulletin informs North Dakota financial institutions and the public of applications by state-chartered banks, statechartered credit unions, and trust companies to be acted upon. This Bulletin is for informational purposes only and does not constitute legal notice of an application. Date Applicant Status The usury rate for unregulated lenders the month of May 2022 is 7.00% 4/19/2022 Western State Bank, Devils Lake—Application to amend Articles Awaiting Board Approval 4/7/2022 Trustmark Enterprises, Inc., Fargo, ND—Request to use the word “trust” in the registered trade name of the business Approved by the Commissioner 4/13/2022 4/22/2022 Bridge Trust USA, Wheaton, IL—Request to use the word “trust” in the registered trade name of the business Approved by the Commissioner 4/25/2022 4/28/2022 National Links Trust, Washington, D.C.—Request to use the word “trust” in the registered trade name of the business Approved by the Commissioner 4/28/2022 4/29/2022 BankNorth, Arthur—Application for Williams Family 2021 Irrevocable Trust Agreement, Casselton, ND, of which James L. Williams III, is the sole trustee, to retain control of 10 percent or more of the shares and thereby control of First Financial Corporation, Arthur, ND, and thereby join the Williams Family Group, which controls 25 percent or more of the company. First Financial Corporation is the parent company of Preliminary Application