Application for Deposit Insurance for Wal-Mart Bank, 10531-10533 [06-1875]

Agencies

• FEDERAL DEPOSIT INSURANCE CORPORATION

[Federal Register Volume 71, Number 40 (Wednesday, March 1, 2006)]
[Notices]
[Pages 10531-10533]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-1875]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Application for Deposit Insurance for Wal-Mart Bank

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of public hearing.

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SUMMARY: This notice announces two public hearing(s) on the application 
for Federal deposit insurance filed on behalf of the proposed Wal-Mart 
Bank (Application). A copy of the public portions of the Application 
together with the comments received on the Application are available on 
the FDIC's Web site at http:www.fdic.gov. The FDIC has scheduled two 
hearings to obtain the public's views on the issues presented by the 
Application. This notice sets forth the dates, times, locations, and 
other details of the hearings. Opportunities to make an oral 
presentation at the hearings are limited, and not all requests to make 
an oral presentation may be granted. Attendance at the hearing is not 
required in order to submit a written statement.

DATES: The hearings will be held on Monday and Tuesday, April 10th and 
11th, 2006 in the Washington, DC area and on Tuesday and Wednesday, 
April 25th and 26th, 2006 in the Kansas City, Missouri metro area. On 
each of the four hearing days the hearing will commence at 9 a.m. and 
end at approximately 5:30 p.m. Any person who would like to make an 
oral presentation at one of the hearings must complete two steps. 
First, no later than 5 p.m. on Friday, March 10th, 2006 he or she must 
deliver to the Executive Secretary of the FDIC a written request to 
make an oral presentation. Second, no later than 5 p.m. on Tuesday, 
March 28th, 2006 he or she must deliver to the Executive Secretary a 
copy of his or her written statement plus a two-page (or less) summary 
of that statement. Please include in your request to make an oral 
presentation the following: (a) Your name, address, telephone number, 
and e-mail address, (b), the name and addresses of the organization or 
institution that you represent, if applicable, and (c) the location 
(Washington, DC area or Kansas City, Missouri metro area) where you 
would like to make your presentation. No later than March 20th, 2006 
the FDIC will notify each person who has submitted a request to make an 
oral presentation at the hearing whether the FDIC will be able to 
accommodate his or her request. Each written statement submitted to the 
FDIC must also include your name, address, telephone number, and e-mail 
address.

ADDRESSES: No later than March 14th, 2006, the FDIC will announce the 
exact locations of the hearing in the Washington, DC area and in the 
Kansas City, Missouri metro area. The announcement will be made on the 
FDIC's Web site http:www.fdic.gov, by press release, and by a recorded 
message available by calling 877-872-1348. In addition, the FDIC will 
specifically provide the exact locations of the hearings to each person 
whose request to make an oral presentation has been granted.
    While the FDIC will accept presentation requests, statements, and 
summaries either in paper form or in electronic form, the FDIC 
encourages all persons to submit their documents electronically, if 
possible. You may submit your written request to make an oral 
presentation, a copy of your written statement and the two-page (or 
less) summary of your statements by any of the following methods:
     E-mail to: Publichearing@FDIC.gov.
     Mail to: Robert E. Feldman, Executive Secretary, 
Attention: Comments/Legal ESS, Room 3060, Federal Deposit Insurance 
Corporation, 550 17th Street, NW., Washington, DC 20429.
     Hand Deliver/Courier: The guard station at the area of the 
550 17th Street Building (location on F Street), on business days 
between 7 a.m. and 5 p.m.
    Public Inspection: All requests to make an oral presentation, 
statements, and summaries received by the FDIC may be inspected and 
photocopies in the FDIC Public Information Center, 3503 North Fairfax 
Drive, Room VS-E-1002, Arlington, VA 22226, between 9 a.m. and 5 p.m. 
(ET) Monday through Friday. Alternatively, the FDIC will send copies of 
these documents via the U.S. Postal Service upon request by calling 
(877) ASK-FDIC/(703) 562-2200, by FAX to (703) 562-2296, or by e-mail 
to publicinfo@fdic.gov. The FDIC may impose fees for photocopying at 
the rate of $0.20 per page and for postage at the rates charged by the 
U.S. Postal Service for the type of delivery requested.
    Internet Posting: All requests to make an oral presentation, 
statements, and

[[Page 10532]]

summaries received by the FDIC will be posted to: https://www.fdic.gov/
regulations/laws/walmart/. However, street addresses, 
telephone numbers, and e-mail addresses will not be posted, if 
specifically requested.

FOR FURTHER INFORMATION CONTACT: For questions regarding the conduct of 
the hearings: contact Valerie Best, Assistant Executive Secretary, 
(202) 898-3812; Legal Division, Federal Deposit Insurance Corporation, 
Washington, DC 20429.

SUPPLEMENTARY INFORMATION:

I. Overview of the Application

    On July 19, 2005 representatives of the proposed Wal-Mart Bank 
(Bank) filed the Application with the FDIC. The FDIC is authorized to 
grant or deny Federal deposit insurance to a depository institution 
pursuant to section 5 of the Federal Deposit Insurance Act (FDI Act), 
12 U.S.C. 1815. Wal-Mart Bank is a proposed Utah industrial bank and as 
such is a state nonmember bank under the FDI Act.
    The FDIC has made available to the public the non-confidential 
portions of the application, supporting data, supplementary information 
and any comments received on the Application. Collectively, this 
information is known as the public file. The public file is available 
at the FDIC's Regional Office in San Francisco and on the FDIC's Web 
site at https://www.fdic.gov.
    At approximately the same time that the Application was filed with 
the FDIC, an application for an industrial bank charter was filed with 
the State of Utah's Department of Financial Institutions. On July 19, 
2005 the FDIC accepted the Application for processing. The FDIC is 
currently engaged in analyzing and evaluating the Application, and 
neither the FDIC nor the State of Utah has acted to approve or 
disapprove either application.
    In order to assist the FDIC in determining whether to approve or 
disapprove the Application, the FDIC has decided to hold hearings to 
obtain the public's views on the issues raised by the Application. 
There has been considerable public interest in the Application. The 
FDIC believes that public participation will provide valuable insight 
into the issues presented by the application and will serve the public 
interest.
    On February 21, 2006 by resolution the Board of Directors of the 
FDIC (Board) delegated to the Acting Chairman of the Board the 
authority to designate a Presiding Officer and such other Hearing 
Officers as the Acting Chairman deems appropriate for the hearings on 
the Application. In addition, by means of that same resolution, and in 
accordance with 12 CFR 303.10(m), the Board delegated to any Presiding 
Officer designated by the Acting Chairman the authority to modify the 
procedures for the hearings provided in 12 CFR 303.10.

II. Public Hearings

    The FDIC will hold hearings in two locations: the Washington, DC 
area and the Kansas City, Missouri metro area.
    The hearing in the Washington, D.C. area will be held on Monday and 
Tuesday, April 10th and 11th, 2006 from 9 a.m. to approximately 5:30 
p.m.
    The hearing in the Kansas City, Missouri metro area, will be held 
on Tuesday and Wednesday, April 25th and 26th, 2006 from 9 a.m. to 
approximately 5:30 p.m.
    No later than March 14th, 2006, the FDIC will announce the exact 
locations of the hearings in the Washington, DC area and in the Kansas 
City, Missouri metro area. The announcement will be made on the FDIC's 
Web site at https://fdic.gov, by press release, and by a recorded 
message available by calling 877-872-1348.
    A Presiding Officer and such other Hearing Officers as may be 
designated by the FDIC will preside over the hearings. The hearings 
will be informal, and neither the rules of evidence nor the rules of 
civil procedure will apply. Persons making an oral presentation will be 
able to express their views and insights regarding the Application and 
the issues raised by the Application. However, only the Hearing 
Officers may ask the presenters questions in order to clarify the 
presenters' statements. We anticipate that most presenters at the 
hearings will be limited to five (5) minutes for their presentations. 
Additional time will be provided for presenters to answer any questions 
asked by the Hearing Officers.
    Any person who would like to make an oral presentation at one of 
the hearings must complete two steps. First, no later than 5 p.m. on 
Friday, March 10th, 2006 he or she must deliver to the Executive 
Secretary of the FDIC a written request to make an oral presentation. 
Second, no later than 5 p.m. on Tuesday, March 28th, 2006 he or she 
must deliver to the Executive Secretary a copy of his or her written 
statement plus a two-page (or less) summary of that statement. Please 
include in your request to make an oral presentation the following: (a) 
Your name, address, telephone number, and e-mail address, (b) the name 
and address of the organization or institution that you represent, if 
applicable, and (c) the location (Washington, DC area or Kansas City, 
Missouri metro area) where you would like to make your presentation. No 
later than March 20th, 2006 the FDIC will notify each person who has 
submitted a request to make an oral presentation at the hearings 
whether the FDIC will be able to accommodate his or her request. Each 
written statement submitted to the FDIC must also include your name, 
address, telephone number, and e-mail address.
    Opportunities to make an oral presentation at the hearings are 
limited, and not all requests may be granted. If the FDIC grants a 
person's request to make an oral presentation, the FDIC's notice to 
such person will include the time scheduled for his or her presentation 
and a hearing agenda. Depending upon the number of the persons making 
an oral presentation, the FDIC may organize presenters into panels or 
groups in order to accommodate as many presenters as possible.
    Persons who would like to attend the hearings, but who do not want 
to make an oral presentation will be admitted to the hearings on a 
first-come-first-served basis to the extent space is available. Both 
presenters and attendees should plan to arrive early; all persons 
presenting at, or attending the hearings, will be subject to security 
screening consistent with the security measures in place at all Federal 
Buildings.
    Any person may submit a written statement of their views even if he 
or she does not want to make an oral presentation at the hearings. 
Pursuant to the FDIC's Rules and Regulations the FDIC has already 
received approximately 1,900 comment letters on the Application, and 
those comment letters are posted on the FDIC's Web site at https://
www.fdic.gov. All of those comment letters will be considered as part 
of the record of this hearing. As a result, there is no need to 
resubmit those comments in order for them to be considered as part of 
the record of this hearing. Any person submitting a written statement 
of their views should do so in the manner specified in the ADDRESSES 
section of this Notice and should include his or her name, address, 
telephone number, and e-mail address, and the name and address of the 
organization or institution that he or she represents, if applicable.
    Any person may submit a supplemental statement in addition to the 
statement presented at the hearings until Friday, May 5th, 2006.
    The hearings will be transcribed, and the transcript will be posted 
on the FDIC's Web site as soon as it become

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available. Also, the FDIC will provide presenters and attendees with 
any auxiliary aids (e.g., sign language interpretation) required for 
the hearings. Persons needing such assistance should call (202) 416-
2089 (Voice); or (202) 416-2007 (TTY), to make the necessary 
arrangements no later than March 14th, 2006.

    Dated at Washington DC this 21st day of February, 2006.

    By order of the Board of Directors.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 06-1875 Filed 2-28-06; 8:45 am]
BILLING CODE 6714-01-M