Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities, 11419 [E8-4013]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 73, Number 42 (Monday, March 3, 2008)]
[Notices]
[Page 11419]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-4013]


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FEDERAL RESERVE SYSTEM


Notice of Proposals to Engage in Permissible Nonbanking 
Activities or to Acquire Companies that are Engaged in Permissible 
Nonbanking Activities

    The companies listed in this notice have given notice under section 
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and 
Regulation Y (12 CFR Part 225) to engage de novo, or to acquire or 
control voting securities or assets of a company, including the 
companies listed below, that engages either directly or through a 
subsidiary or other company, in a nonbanking activity that is listed in 
Sec. [thinsp]225.28 of Regulation Y (12 CFR 225.28) or that the Board 
has determined by Order to be closely related to banking and 
permissible for bank holding companies. Unless otherwise noted, these 
activities will be conducted throughout the United States.
    Each notice is available for inspection at the Federal Reserve Bank 
indicated. The notice also will be available for inspection at the 
offices of the Board of Governors. Interested persons may express their 
views in writing on the question whether the proposal complies with the 
standards of section 4 of the BHC Act. Additional information on all 
bank holding companies may be obtained from the National Information 
Center website at www.ffiec.gov/nic/.
    Unless otherwise noted, comments regarding the applications must be 
received at the Reserve Bank indicated or the offices of the Board of 
Governors not later than March 31, 2008.
    A. Federal Reserve Bank of Richmond (A. Linwood Gill, III, Vice 
President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. Bank of America Corporation, Charlotte, North Carolina; to 
acquire Countrywide Financial Corporation, Calabasas, California, and 
thereby indirectly acquire Countrywide Bank, FSB, Alexandria, Virginia, 
Countrywide Home Loans, Inc., Calabasas, California, Countrywide 
Financial Corporation, Calabasas, California, Countrywide Financial 
Holding Company, Inc., Calabasas, California, Effinity Financial 
Corporation, Alexandria, Virginia, Countrywide Tax Services 
Corporation, Simi Valley, California, CTC Real Estate Services, 
Calabasas, California, Countrywide Servicing Exchange, Calabasas, 
California, Countrywide Asset Management Corp., Calabasas, California, 
Landsafe Appraisal Services, Inc., Plano, Texas, Landsafe Credit, Inc., 
Richardson, Texas, Landsafe Flood Determination, Inc., Richardson, 
Texas, Landsafe Title of California, Inc., Rosemead, California, 
Landsafe Title of Texas, Inc., Rosemead, California, Landsafe Title of 
Florida, Inc., Calabasas, California, Countrywide Warehouse Lending, 
Calabasas, California, Countrywide Home Loans Servicing LP, Plano, 
Texas, Countrywide Mortgage Ventures, LLC, Calabasas, California, 
Countrywide Commercial Real Estate Finance, Inc., Calabasas, 
California, The Countrywide Foundation, Calabasas, California, 
Recontrust Company, National Association, Thousand Oaks, California, 
CWB Community Assets, Inc., Thousand Oaks, California, Countrywide 
Commercial Administration LLC, Calabasas, California, Recontrust 
Company (Nevada) Thousand Oaks, California, Countrywide KB Home Loans, 
LLC, Thousand Oaks, California, CWB Mortgage Ventures, LLC, Thousand 
Oaks, California, Landsafe Services of Alabama, Inc., Rosemead, 
California, Landsafe Title of Maryland, Inc., Calabasas, California and 
thereby engage in (1) operating a savings association; (2) operating a 
nondepository trust company; (3) community development activities; (4) 
extending credit and servicing loans; (5) real estate and personal 
property appraising; (6) credit bureau services; (7) asset management, 
servicing, and collection activities; (8) acquiring debt in default; 
and (9) providing tax services for residential mortgage transaction 
pursuant to section 225.28(b)(1), 225.28(b)(2), 225.28(b)(4), 
225.28(b)(5), 225.28(b)(6) and 225.28(b)(12) of Regulation Y.
    In connection with this proposal Bank of America Corporation, has 
applied to acquire from Bank of America, National Association, 
Charlotte, North Carolina, 20,000 shares of Series B Non-Voting 
Convertible Preferred Stock of Countrywide Financial Corporation, 
Calabasas, California, which is convertible at the option of the holder 
into approximately 15.7 percent of the voting common stock of 
Countrywide Financial Corporation.

    Board of Governors of the Federal Reserve System, February 27, 
2008.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E8-4013 Filed 2-29-08; 8:45 am]
BILLING CODE 6210-01-S