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Pago Pago, AMERICAN SAMOA — The Federal Deposit Insurance Corporation (FDIC) maintains until the Territorial Bank of American Samoa comes under “private ownership” only then will it “entertain an application for insurance.” This is according to TBAS Manager David Buehler when he testified before...
TBAS
Pago Pago, AMERICAN SAMOA — To comply with federal requirements where federal funds awarded to American Samoa are required to be deposited in a federally insured financial institution, the Lemanu-Talauega Administration is proposing to amend local law, pertaining to government deposits currently...
ANZ AMERICAN SAMOA BANK LOGO
Pago Pago, AMERICAN SAMOA — As ANZ Guam Inc., d/b/a ANZ Amerika Samoa Bank on Monday this week initiated the process of closing down its operations in the territory, residents and businesses alike remain concerned over the lack of a local federally insurance financial institution, through the...
Sen. Togiola Tulafono
Pago Pago, AMERICAN SAMOA — The Territorial Bank of American Samoa (TBAS) board of directors is working on draft legislation, which will seek to have the government guarantee all bank deposits. And this action is similar to the regulatory role of the Federal Deposit Insurance Corporation (FDIC),...
Robert Ho Chee, the head of American Samoa’s new Office of Financial Institutio. [American Banker]
WASHINGTON — American Samoa is finally getting its own full-service bank — and successfully creating only the second public bank in the United States. The Federal Reserve is allowing the Territorial Bank of American Samoa access to the U.S. payments system nearly two years after the bank first...
Pago Pago, AMERICAN SAMOA — The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of American Samoa affected by Tropical Storm Gita. Through Financial Institution Letter (FIL-...