<div dir="ltr">I'll call the CA chartering office and find out. Simpson thought it would just cost attorney's fees.<div> Peace and blessings, Ellen</div></div><div class="gmail_extra"><br><br><div class="gmail_quote">
On Mon, May 27, 2013 at 3:06 PM, <span dir="ltr"><<a href="mailto:agnes@mcn.org" target="_blank">agnes@mcn.org</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
Great, Ellen,<br>
Would we need one of the Supervisors to apply for a bank charter in<br>
case it involves money upfront, expecting it would take 6 months to<br>
fufill the requirements?<br>
<span class="HOEnZb"><font color="#888888"><br>
Agnes<br>
</font></span><div class="HOEnZb"><div class="h5"><br>
<br>
> TO START A BANK<br>
><br>
><br>
> One must get a charter from the California State Banking<br>
> Authority Phone 1 800<br>
><br>
> 622 0620 or <a href="tel:1%20415%20263%208555" value="+14152638555">1 415 263 8555</a>.<br>
><br>
> One cannot get a charter of a failed CA bank. from FDIC. Bill Simpson at<br>
> FDIC <a href="tel:%281%20972%20%20744%205557" value="+19727445557">(1 972 744 5557</a>) said if you get the charter of a failed bank, you<br>
> also must get all its assets and liabilities. And the First Bank of<br>
> Beverly Hills, Calabasas, CA., that died in 2009 and wasn't bought out,<br>
> is<br>
> too dead to be revived.<br>
><br>
> Buying a filed bank doesn't sound promising. The only other option<br>
> is to get a new charter from the CA State Banking Authority.<br>
> Also, in a time of economic hardship, putting a bond issue on the ballot<br>
> is<br>
> probably not a good idea. It probably would fail just because people<br>
> don't<br>
> want any additional costs, not because they don't want a public bank.<br>
> Therefore, putting the public bank on the ballot and then funding it from<br>
> county money, such as the retirement fund, seems wisest.<br>
><br>
><br>
> Mendocino Retirement Board members with fiduciary responsibility--to<br>
> lobby/educate about the benefits of a public bank<br>
><br>
><br>
> 1. John McGowan, supervisor<br>
><br>
> 2. Randy Goodman, Deputy County Assessor<br>
><br>
> 3. Tim Knudsen, former Treasurer, elected<br>
><br>
> 4. Richard Schumacher, elected by retirees<br>
><br>
> 5. Craig Walker, represents sheriff and police<br>
><br>
> 6. Bob Murrodo public ?<br>
><br>
> 7. Ted Stevens money manager in Yorkville<br>
><br>
> 8. Shari Schapmire Chair, Treasurer<br>
><br>
> 9. John Sakowicz public citizen SUPPORTS<br>
><br>
><br>
> Lloyd in the Auditors Office retirement fund<br>
><br>
><br>
> Retirement Board needs 7 3/4% yield to break even. Now gets 14 1/2%<br>
> uses<br>
> a 20-30 year model for retirement.<br>
><br>
> PEPRA Public Employees Pension Regulatory Authority<br>
><br>
> SACRS<br>
><br>
><br>
><br>
><br>
> SUPPORTERS OF PUBLIC BANK<br>
><br>
><br>
> Dan Hamburg, Chair, BOS<br>
><br>
> Chad Spitler, Black Rock<br>
><br>
> Ben Thornby Pacific Community Ventures<br>
><br>
> Lauren Agnew, United Way, conference organizer<br>
><br>
> Marty Lombardi, VP Savings Bank of Mendo County<br>
><br>
> Cooper Credit Union<br>
><br>
<br>
<br>
</div></div></blockquote></div><br></div>