Entities That May Be Conducting Banking
Operations In Canada or the United States Without Authorization
The Office of the Superintendent of Financial Institutions
of Canada has published the attached "Warning Circular."
It contains an updated list of entities that are not licensed
chartered banks in Canada and are not registered representative
offices of foreign banks in Canada. This list supersedes
the list provided in FIL-24-96, dated May 1, 1996.
These entities may be operating in Canada in violation
of the Bank Act (Canada) and also may be conducting unauthorized
banking transactions in the United States. Any proposed
transactions involving these entities should be viewed with
We have been informed that the Bank of North America,
Fort Lauderdale, Florida, is not associated in any manner
with the Bank of North America (Canada), and that the United
Security Bank, Spokane, Washington, is not associated in
any manner with the United Security Bank Limited (Canada)
listed on the attached circular.
Any information about these entities should be forwarded
to the FDIC's Special Activities Section, 550 17th Street,
N.W., Room F-612, Washington, D.C. 20429.
Nicholas J. Ketcha Jr.
Distribution: FDIC-Supervised Banks (Commercial and Savings)
The attachment to this Financial Institution Letter is
not currently available in electronic format. Until it is
in a form that will allow us to post it to the internet,
you may obtain hard copy or fax from: