Subject: |
Unauthorized Banking |
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Description:
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Pacific Savings Bank, Ltd.,
Republic of Palau, License Revocation |
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Date: November 17,
2006
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TO: |
Chief Executive Officers of All National Banks; All State Banking Authorities; Chairman, Board of Governors of the Federal Reserve System; Chairman, Federal Deposit Insurance Corporation; Director, Office of Thrift Supervision; Conference of State Bank Supervisors; Deputy Comptrollers (districts); Assistant Deputy Comptrollers; District Counsel; and All Examining Personnel
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RE: |
Revocation of the banking license of Pacific Savings Bank, Ltd.
NECO Plaza, PO Box 399
Koror, Republic of Palau 96940
The Financial Institutions Commission, Republic of Palau, has advised the
Office of the Comptroller of the Currency that it revoked the banking license
of Pacific Savings Bank, Ltd. (Pacific) and placed the bank into receivership
on November 7, 2006. Mr. Kaleb Udui Jr. was appointed as the receiver for
Pacific by the Commission.
Any information or questions that you may have concerning this matter should be
brought to the attention of the Financial Institutions Commission at:
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Mail: |
G. Semdiu Decherong, Executive Commissioner Financial Institutions
Commission
PO Box 10243,
Koror, Republic of Palau 96940
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Phone: |
(680) 488-3560 |
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Fax: |
680- 488-3564 |
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E-mail: |
fic@palaunet.com |
and of the OCC at:
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E-mail: |
occalertresponses@occ.treas.gov |
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Mail: |
Office of the Comptroller of the Currency
Special Supervision Division, MS 6-4
250 E Street, SW, Washington, DC 20219
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Fax: |
(202) 874-5214 |
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Internet: |
http://www.occ.treas.gov |
For
additional information regarding other types of financial fraud, please visit
the OCC’s anti-fraud resource at:
http://www.occ.gov/fraudresources.htm
.
/signed/
Richard C. Stearns
Director for Enforcement & Compliance
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