Regulatory Alerts2022-01-01
Added · Updated
Monthly Bulletin — January 2022
The North Dakota Department of Financial Institutions issued this bulletin to inform the public and financial institutions of pending and approved applications by state-chartered banks, credit unions, and trust companies. The document details specific regulatory actions, including the approval of KodaBank's articles of association amendment and First International Bank & Trust's new facility, while noting that Hometown Credit Union, Capital Credit Union, and Bell Bank applications remain under review or in the comment period. Additionally, the bulletin establishes the usury rate for unregulated lenders at 7.00% for February 2022.
BULLETIN APPLICATIONS 2.1.2022 Amend Articles of Association Branch/Facility Relocate Interstate Branch 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 February 2022 is 7.00% 12/30/2021 KodaBank, Drayton—Application to amend Articles of Association and application to restate Articles of Association Approved by the Board 1/11/2022 12/3/2021 First International Bank & Trust, Watford City—Application to establish a facility at 4530 Memorial Hwy, Mandan, ND Approved by the Commissioner 1/3/2022 12/16/2021 Hometown Credit Union, Kulm—Application to establish a branch at 301 5th Ave SE, Medina, ND In Review 1/26/2022 Capital Credit Union, Bismarck—Application to establish a branch at 5120 38th St S Fargo, ND In Review 1/27/2022 Bell Bank, Fargo—Application to relocate interstate branch from 15 N Broadway, Pelican Rapids, MN to 11 S Broadway, Pelican Rapids MN In Comment Period