InsurBanc Receives Conditional ApprovalThe Office of Thrift Supervision (OTS) in November granted conditional approval for InsurBanc, a federal savings bank that will be owned and operated jointly by the Independent Insurance Agents of America Inc. (IIAA) and three companies. InsurBanc will operate in three states-Connecticut, Massachusetts and New Jersey-once it meets criteria laid out in the OTS conditional approval and obtains approval from the Federal Deposit Insurance Corp. InsurBanc will provide an array of banking services including auto loans, credit cards, home equity loans, mortgages, CDs and money-market funds through independent agents. Joining the Alexandria, Va.-based IIAA as joint owners of the thrift holding company, Peyton Street Independent Financial Services Corp., are W. R. Berkley Corp. and two of its subsidiaries, Signet Star Holdings Inc. and Signet Star Reinsurance Co., both based in Florham Park, N.J.
Safeco System Processes Bonds Online
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