tailieunhanh - UNITED STATES OF AMERICA DEPARTMENT OF THE TREASURY FINANCIAL CRIMES ENFORCEMEN NETWORK

The rise in interstate banking, in particular, fueled competition both among state regulators and between state regulators and the OCC. Mergers of banks with different state charters caused the amount of bank assets supervised by some state regulators to decline, and the amount supervised by other state regulators to increase Similarly, mergers between state-chartered and national banks caused assess- ment revenues and supervisory burden to shift between state regulators and the OCC. While the number of banks was thus declining, the aver- age asset size of the banks was increasing. Because of the regressive nature of most assess- ment schedules, this resulted in a decline of assessment revenues per dollar of assets super- vised | UNITED S I AI ES OF AMERICA DEPARTMENT OF THE TREASURY FINANCIAL CRIMES ENFORCEMENT NETWORK IN THE MATTER OF UNION BANK OF CALIFORNIA . SAN FRANCISCO CALIFORNIA Number 2007-02 ASSESSMENT OF CIVIL MONEY PENALTY I. INTRODUCTION Under rhe authority of the Bank Secrecy Act and regulations issued pursuant to that Act 1 the Financial Crimes Enforcement Network has determined that grounds exist to assess a civil money penally against Union Bank of California . Union Bank or the Bank . To resolve this mailer and only for that purpose. Union Bank has entered into a CONSENT TO THE ASSESSMENT OF CIVIL MONEY PENALTY CONSENT without admitting or denying the determinations by the Financial Crimes Enforcement Network as described in Sections ill and IV below except as to jurisdiction in Section II below which is admitted. The CONSENT is incorporated into this ASSESSMENT OF CIVIL MONEY PENALTY ASSESSMENT by this reference. II. JURISDICTION Union Bank is a wholly owned subsidiary of UnionBanCal Corporation a publicly traded bank holding company incorporated in Delaware and based in San Francisco California. UnionBanCal Corporation is a majority owned subsidiary of Mitsubishi Financial Group. Inc. Tokyo. Japan. As of June 30 2007. Union Bank had assets of approximately S53 billion. Union Bank provides a wide range of financial services to consumers small businesses middlemarket companies and major corporations - primarily in California. Oregon and Washington. Union Bank operates 317 full service branches in California four full service branches in Oregon and Washington and international offices in Canada and the Cayman Islands. Administrative offices are also maintained in Arizona. Illinois. Nevada. New York. Virginia and Texas. The Office of the Comptroller of the Currency is the Bank s Federal functional regulator and examines Union Bank for compliance with the Bank Secrecy Act its implementing regulations and similar rules under Title 12 of the United Stales Code. 31 .