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FDIC Enforcement Decisions and Orders
Status of bank as insured national bank terminated.
In the Matter of
Pursuant to section 8(q) of the Federal Deposit Insurance Act (the "Act"), 12 U.S.C. §1818(q), and section 18(i)(3) of the Act, 12 U.S.C. §1828(i)(3), the Federal Deposit Insurance Corporation ("FDIC"), having found that GE Capital Consumer Card Co., Mason, Ohio ("GE"), has provided to the FDIC on November 1, 2004, satisfactory evidence that it has assumed the liabilities for deposits of Dillard National Bank, Gilbert, Arizona ("Insured Institution"), as of November 1, 2004, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. §307.1, and that the Insured Institution's only depositor has been notified of the assumption of its deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of the Insured Institution as an insured national bank be, and hereby is, terminated as of November 1, 2004.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by GE from the Insured Institution shall terminate at the expiration of May 2, 2005, or in the case of any time deposit, the earliest maturity date after May 2, 2005, as provided in section 8(q) of the Act, 12 U.S.C. §1818(q).
Pursuant to delegated authority.
Dated at Washington, D.C., this 1st day of November 2004.
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