The California Department of Business Oversight (DBO) licenses and regulates California chartered banks. California law requires FDIC insurance for all state bank charters. In considering applications for deposit insurance for a proposed depository institution, the FDIC must evaluate each application in relation to the factors prescribed in section 6 of the Federal Deposit Insurance Act (hereafter the Act) (12 U.S.C. 1816). Those factors are: The financial history and condition of the depository institution; The adequacy of its capital structure; Its future earnings prospects; The general character and fitness of its management; The risk presented by such depository institution to the deposit insurance fund; The convenience and needs of the community to be served by the depository institution; and Whether its corporate powers are consistent with the purposes of the Act. In general, the applicant will receive deposit insurance if all of these statutory factors plus the considerations required by the National Historic Preservation Act and the National Environmental Policy Act of 1969 are resolved favorably.
Some of the services we provide are:
- Assistance with obtaining a California bank charter license from DBO.
- Assistance with FDIC applications.
- Mergers and acquisitions of California chartered banks.
- Lending laws and document drafting for depository institutions, including national and state banks.
- NMLS registration for financial institutions and MLOs