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HomeFinancial CodeDiv. 1Ch. 3Art. 4§ 376 Bank And Savings Updates

§ 376 Bank And Savings Updates

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 376 Bank And Savings Updates

Key Takeaways

  • •The commissioner must send out a monthly update about new banks, credit unions, and other financial businesses.
  • •The update includes who got approved, who got denied, and any big changes like mergers or sales.
  • •It also lists if any financial business was taken over by the government.
  • •The commissioner can add other important info they think people should know.

Example

A new bank wants to open in California.

The commissioner will check if the bank follows the rules. If they say yes, the next monthly update will tell everyone the bank is approved to open. If they say no, the update will say the bank was denied.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 376 Bank And Savings Updates

At least once each month, the commissioner shall issue and disseminate as the commissioner deems appropriate a bulletin containing the following information: (a) Information regarding any of the following actions taken since issuance of the previous bulletin: (1) The filing, approval, or denial under Chapter 1 (commencing with Section 1000) of Division 1.1 of an application for authority to organize a California state bank, or the issuance under Chapter 3 (commencing with Section 1040) of Division 1.1 of a certificate of authority to a California state bank. (2) The filing, approval, or denial under Article 1 (commencing with Section 5400) of Chapter 2 of Division 2 of an application for the issuance of an organizing permit for the organization of a California savings association, or for the issuance under Article 2 (commencing with Section 5500) of Chapter 2 of Division 2 of a certificate of authority to a California savings association. (3) The filing, approval, or denial under Article 2 (commencing with Section 14150) of Chapter 2 of Division 5 of an application for a certificate to act as a credit union, or the issuance of a certificate to engage in the business of a credit union. (4) The filing, approval, or denial under Division 1.2 (commencing with Section 2000), Division 7 (commencing with Section 18000), or Division 15 (commencing with Section 31000) of an application for a license to engage in business, or the issuance under any of those laws of a license to engage in business. (5) The filing, approval, or denial under Chapter 20 (commencing with Section 1750) of Division 1.1 of an application by a foreign (other nation) bank to establish its first office of any particular class (as determined under Section 1753) in this state, or the issuance under that chapter of a license in connection with the establishment of such an office. (6) The filing, approval, or denial under Division 1.6 (commencing with Section 4800) of an application for approval of a sale, merger, or conversion. (7) The filing, approval, or denial under Article 6 (commencing with Section 5700) of Chapter 2 of Division 2 of an application for approval of a conversion of a federal savings association into a state savings association, or the filing of a federal charter of a state savings association that has converted to a federal savings association. (8) The filing, approval, or denial under Article 7 (commencing with Section 5750) of Chapter 2 of Division 2 of an application for approval of a reorganization, merger, consolidation, or transfer of assets of a state savings association. (9) The filing, approval, or denial under Chapter 9 (commencing with Section 15200) of Division 5 of an application for approval of a merger, dissolution, or conversion of a credit union. (10) The taking of possession of the property and business of a California state bank, savings association, credit union, or person licensed by the commissioner under any of the laws cited in paragraph (4). (b) Other information as the commissioner deems appropriate. (Amended by Stats. 2013, Ch. 334, Sec. 21. (SB 537) Effective January 1, 2014.)

Last verified: January 23, 2026

Key Terms

issuanceapplicationlicensecommissionmergerportauthorityinformation

Related Statutes

  • § 30608 License Suspension Grounds
  • § 3307 Digital Financial Asset Reporting
  • § 4877.06 Branch Sale Reporting Requirements
  • § 14252 Large Credit Union Audit Requirement
  • § 17406 Licensee Audit Report Requirements

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 376.
View Official Source