| Notice Filed with SOS |
05/27/2020 |
| Rule |
ProposedRuleAttach2020-00364.rtf |
| Additional Information |
AddInfoAttach2020-00364.pdf |
| Statutory Authority |
Section 11-102-104(1)(a) and Section 11-105-101(1) of the Colorado Revised Statutes (C.R.S.) |
| Description of Subjects/Issues |
The amendment to rule 3 CCR 701-1 CB 101.53 is to ensure the Colorado State Banking Board approves all names and DBAs for state-chartered banks entering the Colorado market by opening a loan production office (LPO). Under the current statutes the Banking Board only approves names when banks enter the Colorado market by opening a branch. The proposed amendment will establish the same criteria for banks entering the Colorado banking market by opening an LPO. The proposed rule also outlines changes in the Banking Board and Division’s practices and outlines steps taken by the Division of Banking and the bank entering the Colorado market when a state-chartered bank that currently operates in Colorado objects to the proposed name(s). |
| Purpose/Objective of Rule |
The amendment to rule 3 CCR 701-1 CB 101.53 is to ensure the Colorado State Banking Board (Banking Board) approves all names and DBAs for state-chartered banks entering the Colorado market by opening a loan production office (LPO). Under the current statutes the Banking Board only approves names when banks enter the Colorado market by opening a branch. The proposed rule will establish the same criteria for banks entering the Colorado banking market by opening an LPO. |
| Basis And Purpose |
BasisAndPurposeAttachment2020-00364.pdf
|
| Regulatory analysis |
RegulatoryAnalysisAttachment2020-00364.pdf
|
| Submitted in response to issues raised by COLS/OLLS? |
No
|
| Is this rule adopted in response to recent legislation? |
No
|
| Hearing Date |
07/16/2020 |
| Hearing Time |
10:00 AM |
| Hearing Location |
DORA Division of Banking, 1560 Broadway Ste 975, Denver CO 80202 |
| Contact Name |
Chas Siler |
| Contact Title |
Banking Board Secretary |
| Contact Telephone |
303-894-7575 |
| Contact email |
charles.siler@state.co.us |