[Federal Register Volume 61, Number 126 (Friday, June 28, 1996)]
[Notices]
[Page 33744]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-16548]


-----------------------------------------------------------------------


FEDERAL RESERVE SYSTEM

Notice of Proposal to Engage in Permissible Nonbanking 
Activities.

    Norwest Corporation, Minneapolis, Minnesota, has given notice 
pursuant to section 4(c)(8) of the Bank Holding Company Act (12 USC 
1843(c)(8)) (BHC Act) and section 225.23 of the Board's Regulation Y 
(12 CFR 225.23), to engage de novo through its subsidiary, Information 
Services, Inc., Des Moines, Iowa, in a joint venture with the Boulder 
Area Board of Realtors, Inc., Boulder, Colorado, and the Longmont 
Association of Realtors, Inc., Longmont, Colorado, in providing data 
processing services for a real estate database (Company). The real 
estate information services database would include real estate/property 
records, which identify each parcel of real property for all counties 
within Colorado, and contain information on the improvements made on 
the parcel, its current ownership, legal description, tax assessment, 
and other information. Company also would provide related services by 
owning and operating an on-line computer system capable of storing data 
necessary for a public and private real estate/property records 
database and by retrieving information from the database in an 
electrical impulse form or hard copy form. Company proposes to conduct 
these activities throughout Colorado.
    Section 4(c)(8) of the BHC Act provides that a bank holding company 
may, with Board approval, engage in any activity ``which the Board 
after due notice and opportunity for hearing has determined (by order 
or regulation) to be so closely related to banking or managing or 
controlling banks as to be a proper incident thereto . . . .'' 12 USC 
1843(c)(8). In publishing the proposal for comment, the Board does not 
take a position on issues raised by the proposal. Notice of the 
proposal is published solely in order to seek the views of interested 
persons on the issues presented by the notice, and does not represent a 
determination by the Board that the proposal meets or is likely to meet 
the standards of the BHC Act.
    Any comments or requests for hearing should be submitted in writing 
and received by William W. Wiles, Secretary, Board of Governors of the 
Federal Reserve System, Washington, D.C. 20551, no later than July 17, 
1996. Any request for a hearing on this proposal must, as required by 
section 262.3(e) of the Boards Rules of Procedure (12 CFR 262.3 (e)), 
be accompanied by a statement of the reasons why a written presentation 
would not suffice in lieu of a hearing, identifying specifically any 
questions of fact that are in dispute, summarizing the evidence that 
would be presented at a hearing, and indicating how the party 
commenting would be aggrieved by approval of the proposal. The notice 
may be inspected at the offices of the Board of Governors or the 
Federal Reserve Bank of Minneapolis.
    Board of Governors of the Federal Reserve System, June 24, 1996.
William W. Wiles
Secretary of the Board
[FR Doc. 96-16548 Filed 6-27-96; 8:45am]
BILLING CODE 6210-01-F