Regulatory Alerts2024-02-01
Added · Updated
Monthly Bulletin — February 2024
The North Dakota Department of Financial Institutions published this bulletin to detail regulatory actions affecting state-chartered banks, credit unions, and trust companies. The document records commissioner and board approvals for trade name waivers, a credit union merger, and a limited purpose office application, while noting pending reviews for other name requests. Additionally, it sets the March 2024 usury rate for unregulated lenders at 10.471 percent and clarifies that the bulletin serves informational purposes only.
BULLETIN APPLICATIONS 3.1.2024 Date Applicant Status
2/6/2024 Merrick Bank Corporation, South Jordan, UT – Request to use the word “Bank” in registered trade name. Approved by the Commissioner. Approved by Commissioner 2/8/2024 2/6/2024 BitGo Trust Company Inc. d/b/a BitGo Financial Services, Inc., Sioux Falls, SD – Request to use the word “Trust” in the registered trade name of the business. Applicant will use the trade name “BitGo Financial Services, Inc.” in ND to eliminate confusion because the entity is not operating as a trust company in ND. Approved by Commissioner 2/12/2024 2/26/2024 Commonwealth Community Trust, Henrico, VA—Request to use the word “Trust” in registered trade name. Under review Name Waiver The usury rate for unregulated lenders for the month of March 2024 is 10.471%. 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. 2/27/2024 Bell Bank, Fargo, ND—Application to establish an LPO at 10151 Deerwood Park Blvd, Jacksonville, FL. Approved by Commissioner 3/1/2024 LPO 12/11/2023 Capital Credit Union, Bismarck—Application to merge Flasher Credit Union, Flasher, ND with Capital Credit Union, and elect to assume the expanded field of membership. Approved by State Credit Union Board 3/1/2024 Merger