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Financial Institution Letter

Special Alert


TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Entities That May Be Conducting Banking Operations in the United States Without Authorization

The Office of the Comptroller of the Currency (OCC) has advised us that the following entity is soliciting deposits on the Internet and offering high interest rates. The entity has not been granted a national bank charter by the OCC nor are its deposits insured by the Federal Deposit Insurance Corporation. Proposed transactions involving this entity should be viewed with extreme caution.

    The Freedom Star National Bank of Arizona
    P.O. Box 66781
    Phoenix, AZ

Please forward any information concerning this entity to the FDIC's Special Activities Section, 550 17th Street, N.W., Room F-612, Washington, D.C. 20429.


Nicholas J. Ketcha Jr.
Director

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 ((703) 562-2200 or 800-276-6003). Electronic copies of FILs and Press Releases are available at the FDIC website: News, Events & FOIA


FIL-66-97

Last Updated: July 11, 1997