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Federal Deposit Insurance Corporation

Division of Supervision

550 17th Street NW, Washington, DC 20429

Special Alert
May 28, 1999

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," which 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-106-98, dated October 2, 1998. The current list also may be found at .


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 extreme caution.
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, NW, Room F-6012, Washington, DC 20429. For your reference, all FDIC Financial Institution
Letters published since January of 1995 may be found on the FDIC's Web site at under the
"Banking News" category.

James L. Sexton

Attachment:(Found at


Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institutions letters may be obtained through the FDIC's
Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (800-2766003 or (703) 562-2200).