Regulatory Alerts2023-02-01
Added · Updated
Monthly Bulletin — February 2023
The North Dakota Department of Financial Institutions issued this bulletin to inform the public and regulated entities of pending applications from state-chartered banks, credit unions, and trust companies. The document details specific regulatory actions, including the approval of Bell Bank's LPO relocation and McKenzie River Trust's name waiver, while noting that Choice Financial Group's investment request awaits board decision. Additionally, it announces the March 2023 usury rate for unregulated lenders at 9.953% and lists facility closure applications for First International Bank & Trust currently in the comment period.
BULLETIN APPLICATIONS 3.1.2023 Facility Closure Investment LPO Relocation Name Waiver
Usury
The usury rate for unregulated lenders the month of March 2023 is 9.953% 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 2/22/2023 Bell Bank, Fargo—Application to relocate an LPO from 1990 Main Street, Ste 750, Sarasota, FL to 401 N. Cattlemen Road, Sarasota, FL Approved by the Commissioner 2/22/2023 2/17/2023 Choice Financial Group, Fargo—Request approval to invest $500,000 in Amplio Economic Development Corporation Awaiting Board Decision 12/16/2022 First International Bank & Trust, Watford City—Application to close facility located at 143 Warrington Ave, Bowdon, ND In Comment Period 12/16/2022 First International Bank & Trust, Watford City—Application to close facility located at 300 11th St W, Williston, ND In Comment Period 2/16/2023 McKenzie River Trust, Eugene—Request to use the word “trust” in the registered trade name of the business Approved by the Commissioner 2/22/2023