FDIC Federal Register Citations

[Federal Register: March 1, 2006 (Volume 71, Number 40)]

[Notices]

[Page 10531-10533]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr01mr06-70]

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FEDERAL DEPOSIT INSURANCE CORPORATION

Application for Deposit Insurance for Wal-Mart Bank

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of public hearing.

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SUMMARY: This notice announces two public hearing(s) on the application

for Federal deposit insurance filed on behalf of the proposed Wal-Mart

Bank (Application). A copy of the public portions of the Application

together with the comments received on the Application are available on

the FDIC's Web site at http://www.fdic.gov. The FDIC has scheduled two

hearings to obtain the public's views on the issues presented by the

Application. This notice sets forth the dates, times, locations, and

other details of the hearings. Opportunities to make an oral

presentation at the hearings are limited, and not all requests to make

an oral presentation may be granted. Attendance at the hearing is not

required in order to submit a written statement.

DATES: The hearings will be held on Monday and Tuesday, April 10th and

11th, 2006 in the Washington, DC area and on Tuesday and Wednesday,

April 25th and 26th, 2006 in the Kansas City, Missouri metro area. On

each of the four hearing days the hearing will commence at 9 a.m. and

end at approximately 5:30 p.m. Any person who would like to make an

oral presentation at one of the hearings must complete two steps.

First, no later than 5 p.m. on Friday, March 10th, 2006 he or she must

deliver to the Executive Secretary of the FDIC a written request to

make an oral presentation. Second, no later than 5 p.m. on Tuesday,

March 28th, 2006 he or she must deliver to the Executive Secretary a

copy of his or her written statement plus a two-page (or less) summary

of that statement. Please include in your request to make an oral

presentation the following: (a) Your name, address, telephone number,

and e-mail address, (b), the name and addresses of the organization or

institution that you represent, if applicable, and (c) the location

(Washington, DC area or Kansas City, Missouri metro area) where you

would like to make your presentation. No later than March 20th, 2006

the FDIC will notify each person who has submitted a request to make an

oral presentation at the hearing whether the FDIC will be able to

accommodate his or her request. Each written statement submitted to the

FDIC must also include your name, address, telephone number, and e-mail

address.

ADDRESSES: No later than March 14th, 2006, the FDIC will announce the

exact locations of the hearing in the Washington, DC area and in the

Kansas City, Missouri metro area. The announcement will be made on the

FDIC's Web site http://www.fdic.gov, by press release, and by a recorded

message available by calling 877-872-1348. In addition, the FDIC will

specifically provide the exact locations of the hearings to each person

whose request to make an oral presentation has been granted.

While the FDIC will accept presentation requests, statements, and

summaries either in paper form or in electronic form, the FDIC

encourages all persons to submit their documents electronically, if

possible. You may submit your written request to make an oral

presentation, a copy of your written statement and the two-page (or

less) summary of your statements by any of the following methods:

E-mail to: publichearing@fdic.gov.

Mail to: Robert E. Feldman, Executive Secretary,

Attention: Comments/Legal ESS, Room 3060, Federal Deposit Insurance

Corporation, 550 17th Street, NW., Washington, DC 20429.

Hand Deliver/Courier: The guard station at the area of the

550 17th Street Building (location on F Street), on business days

between 7 a.m. and 5 p.m.

Public Inspection: All requests to make an oral presentation,

statements, and summaries received by the FDIC may be inspected and

photocopies in the FDIC Public Information Center, 3503 North Fairfax

Drive, Room VS-E-1002, Arlington, VA 22226, between 9 a.m. and 5 p.m.

(ET) Monday through Friday. Alternatively, the FDIC will send copies of

these documents via the U.S. Postal Service upon request by calling

(877) ASK-FDIC/(703) 562-2200, by FAX to (703) 562-2296, or by e-mail

to publicinfo@fdic.gov. The FDIC may impose fees for photocopying at

the rate of $0.20 per page and for postage at the rates charged by the

U.S. Postal Service for the type of delivery requested.

FOR FURTHER INFORMATION CONTACT: For questions regarding the conduct of

the hearings: contact Valerie Best, Assistant Executive Secretary,

(202) 898-3812; Legal Division, Federal Deposit Insurance Corporation,

Washington, DC 20429.

SUPPLEMENTARY INFORMATION:

I. Overview of the Application

On July 19, 2005 representatives of the proposed Wal-Mart Bank

(Bank) filed the Application with the FDIC. The FDIC is authorized to

grant or deny Federal deposit insurance to a depository institution

pursuant to section 5 of the Federal Deposit Insurance Act (FDI Act),

12 U.S.C. 1815. Wal-Mart Bank is a proposed Utah industrial bank and as

such is a state nonmember bank under the FDI Act.

The FDIC has made available to the public the non-confidential

portions of the application, supporting data, supplementary information

and any comments received on the Application. Collectively, this

information is known as the public file. The public file is available

at the FDIC's Regional Office in San Francisco and on the FDIC's Web

site at http://www.fdic.gov.

At approximately the same time that the Application was filed with

the FDIC, an application for an industrial bank charter was filed with

the State of Utah's Department of Financial Institutions. On July 19,

2005 the FDIC accepted the Application for processing. The FDIC is

currently engaged in analyzing and evaluating the Application, and

neither the FDIC nor the State of Utah has acted to approve or

disapprove either application.

In order to assist the FDIC in determining whether to approve or

disapprove the Application, the FDIC has decided to hold hearings to

obtain the public's views on the issues raised by the Application.

There has been considerable public interest in the Application. The

FDIC believes that public participation will provide valuable insight

into the issues presented by the application and will serve the public

interest.

On February 21, 2006 by resolution the Board of Directors of the

FDIC (Board) delegated to the Acting Chairman of the Board the

authority to designate a Presiding Officer and such other Hearing

Officers as the Acting Chairman deems appropriate for the hearings on

the Application. In addition, by means of that same resolution, and in

accordance with 12 CFR 303.10(m), the Board delegated to any Presiding

Officer designated by the Acting Chairman the authority to modify the

procedures for the hearings provided in 12 CFR 303.10.

II. Public Hearings

The FDIC will hold hearings in two locations: the Washington, DC

area and the Kansas City, Missouri metro area.

The hearing in the Washington, D.C. area will be held on Monday and

Tuesday, April 10th and 11th, 2006 from 9 a.m. to approximately 5:30

p.m.

The hearing in the Kansas City, Missouri metro area, will be held

on Tuesday and Wednesday, April 25th and 26th, 2006 from 9 a.m. to

approximately 5:30 p.m.

No later than March 14th, 2006, the FDIC will announce the exact

locations of the hearings in the Washington, DC area and in the Kansas

City, Missouri metro area. The announcement will be made on the FDIC's

Web site at http://fdic.gov, by press release, and by a recorded

message available by calling 877-872-1348.

A Presiding Officer and such other Hearing Officers as may be

designated by the FDIC will preside over the hearings. The hearings

will be informal, and neither the rules of evidence nor the rules of

civil procedure will apply. Persons making an oral presentation will be

able to express their views and insights regarding the Application and

the issues raised by the Application. However, only the Hearing

Officers may ask the presenters questions in order to clarify the

presenters' statements. We anticipate that most presenters at the

hearings will be limited to five (5) minutes for their presentations.

Additional time will be provided for presenters to answer any questions

asked by the Hearing Officers.

Any person who would like to make an oral presentation at one of

the hearings must complete two steps. First, no later than 5 p.m. on

Friday, March 10th, 2006 he or she must deliver to the Executive

Secretary of the FDIC a written request to make an oral presentation.

Second, no later than 5 p.m. on Tuesday, March 28th, 2006 he or she

must deliver to the Executive Secretary a copy of his or her written

statement plus a two-page (or less) summary of that statement. Please

include in your request to make an oral presentation the following: (a)

Your name, address, telephone number, and e-mail address, (b) the name

and address of the organization or institution that you represent, if

applicable, and (c) the location (Washington, DC area or Kansas City,

Missouri metro area) where you would like to make your presentation. No

later than March 20th, 2006 the FDIC will notify each person who has

submitted a request to make an oral presentation at the hearings

whether the FDIC will be able to accommodate his or her request. Each

written statement submitted to the FDIC must also include your name,

address, telephone number, and e-mail address.

Opportunities to make an oral presentation at the hearings are

limited, and not all requests may be granted. If the FDIC grants a

person's request to make an oral presentation, the FDIC's notice to

such person will include the time scheduled for his or her presentation

and a hearing agenda. Depending upon the number of the persons making

an oral presentation, the FDIC may organize presenters into panels or

groups in order to accommodate as many presenters as possible.

Persons who would like to attend the hearings, but who do not want

to make an oral presentation will be admitted to the hearings on a

first-come-first-served basis to the extent space is available. Both

presenters and attendees should plan to arrive early; all persons

presenting at, or attending the hearings, will be subject to security

screening consistent with the security measures in place at all Federal

Buildings.

Any person may submit a written statement of their views even if he

or she does not want to make an oral presentation at the hearings.

Pursuant to the FDIC's Rules and Regulations the FDIC has already

received approximately 1,900 comment letters on the Application, and

those comment letters are posted on the FDIC's Web site at http://www.fdic.gov.

All of those comment letters will be considered as part

of the record of this hearing. As a result, there is no need to

resubmit those comments in order for them to be considered as part of

the record of this hearing. Any person submitting a written statement

of their views should do so in the manner specified in the ADDRESSES

section of this Notice and should include his or her name, address,

telephone number, and e-mail address, and the name and address of the

organization or institution that he or she represents, if applicable.

Any person may submit a supplemental statement in addition to the

statement presented at the hearings until Friday, May 5th, 2006.

The hearings will be transcribed, and the transcript will be posted

on the FDIC's Web site as soon as it become available. Also, the FDIC will provide

presenters and attendees with any auxiliary aids (e.g., sign language interpretation) required for

the hearings. Persons needing such assistance should call (202) 416-

2089 (Voice); or (202) 416-2007 (TTY), to make the necessary

arrangements no later than March 14th, 2006.

Dated at Washington DC this 21st day of February, 2006.

By order of the Board of Directors.

Robert E. Feldman,

Executive Secretary.

[FR Doc. 06-1875 Filed 2-28-06; 8:45 am]

BILLING CODE 6714-01-M