Regulatory Alerts2022-10-01
Added · Updated
Monthly Bulletin — October 2022
The North Dakota Department of Financial Institutions issued this bulletin to inform the public and financial institutions of recent applications and decisions regarding state-chartered banks, credit unions, and trust companies. The document details the approval of name usage requests for BankDirect, Fortress Trust, and Northpointe Bank, alongside the approval of new branch establishments by First Community Credit Union and Cornerstone Bank. Additionally, it notes the denial of an advertising waiver for North Star Community Credit Union and lists Choice Bank's facility closure application as currently in the comment period.
BULLETIN APPLICATIONS 11.1.2022 Advertising and Marketing Waiver Facility Application Facility Closure Name Waiver
Usury
The usury rate for unregulated lenders the month of November 2022 is 8.328% 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 10/4/2022 BankDirect, Rosemont, IL—Request to use the word “bank” in the registered trade name of the business Approved by the Commissioner 10/4/2022 10/12/2022 Fortress Trust LLC—Request to use the word “trust” in the registered trade name of the business Approved by the Commissioner 10/12/2022 10/20/2022 Northpointe Bank—Request to use the word “bank” in the registered trade name of the business Approved by the Commissioner 10/24/2022 9/21/2022 Choice Bank, Fargo—Application to close facility located at 1313 Skyline Blvd, Bismarck, ND In Comment Period 8/30/2022 First Community Credit Union, Jamestown—Application to establish a branch at 2500 34th St S, Moorhead, MN Approved by the Commissioner 10/3/2022 10/7/2022 Cornerstone Bank, Fargo—Application to establish a branch at 140 Viking Street, Rugby, ND Approved by the Commissioner 10/31/2022 9/30/2022 North Star Community Credit Union, Maddock, ND—Request to use the word “banker” or “banking” in advertising and marketing Denied by the Commissioner 10/26/2022