Credit One Bank

Credit One Bank
Type Private
Industry Financial Services
Founded San Rafael, California (1984)
Headquarters 585 Pilot Road, Las Vegas, Nevada, U.S.[1]
Products Credit cards
Website www.CreditOneBank.com

Credit One Bank, N.A. , or Credit One, is a U.S. based bank specializing in credit cards. It has corporate offices in Las Vegas, Nevada. The bank is held by Credit One Financial, a bank holding company registered in Nevada[2]. Credit One Financial is a wholly owned subsidiary of Sherman Financial Group, LLC[3]. As of February 2011, Credit One services approximately 2 million cardholders across the United States.

Contents

National Bank Charter

Credit One operates under a CEBA national bank charter (OCC Charter Number: 20291)[4]. This type of charter affects the bank’s lending and deposit functions. Requirements are set forth in an amendment to the Bank Holding Company Act (BHCA), the Competitive Equality Banking Act of 1987, hence the term CEBA bank[5]. In order to qualify for this type of bank charter, Credit One can engage only in credit card activities. CEBA banks may not accept demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties. They may also not accept any savings or time deposits of less than $100M unless they are used as collateral for secured credit card loans[6]. And, they may not engage in the business of making commercial loans. Any deposits are insured by the Federal Deposit Insurance Corporation (FDIC). Credit One’s FDIC Certificate Number is 25620.[1]

History

Credit One began operations as a full-service bank under the name First National Bank of Marin (FNBM) in San Rafael, California on July 30, 1984. FNBM maintained a wide range of products until 1995 when it began focusing primarily on two types of products, partially and fully secured credit cards. FNBM received a limited purpose designation from the Office of the Comptroller of the Currency (OCC), a bureau of the United States Department of the Treasury, in June 1996. Limited purpose banks offer only a narrow product line. The bank moved from San Rafael, California to Las Vegas, Nevada in November 1998. FNBM obtained its CEBA status in March 2005 and subsequently changed its name to Credit One Bank, N.A. on February 1, 2006.

Registered Trademarks

On April 26, 2002 FNBM filed an application for the mark CREDIT ONE BANK with the United States Patent and Trademark Office (USPTO)[7]. The mark was granted registration status (Registration Number 3121113) on July 25, 2006 after the bank changed its name to Credit One Bank, N.A. Additional registered trademarks owned by Credit One include CREDIT ONE (Registration Number 330342) granted on October 2, 2007 and CREDIT ONE FINANCIAL (Registration Number 3330575) granted on November 6, 2007[7].

References

External links


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Credit Europe Bank — N.V. Industry Finance Founded 1994 Headquarters Amsterdam, Netherlands Key people Hüsnü Özyeğin, Founder Maarten J. Hulshoff, Chairman of the Supervisory Board Murat …   Wikipedia

  • Credit Suisse — Group AG Type Aktiengesellschaft Traded as SIX: CSGN, NYSE:  …   Wikipedia

  • Bank fraud — is the use of fraudulent means to obtain money, assets, or other property owned or held by a financial institution. In many instances, bank fraud is a criminal offense. While the specific elements of a particular banking fraud law vary between… …   Wikipedia

  • Bank regulation in the United States — is highly fragmented compared to other G10 countries where most countries have only one bank regulator. In the U.S., banking is regulated at both the federal and state level. Depending on a banking organization s charter type and organizational… …   Wikipedia

  • Bank Leu — AG (pronounced Loy, as in toy) was a Swiss private bank that existed from 1755 to 2007. Headquartered in Zurich, it was a subsidiary of Crédit Suisse from 1990. In 2007, it was merged with that company s other private banking units as Clariden… …   Wikipedia

  • Credit Suisse First Boston — Credit Suisse Unternehmensform Aktiengesellschaft ISIN …   Deutsch Wikipedia

  • Credit Suisse Group — Credit Suisse Unternehmensform Aktiengesellschaft ISIN …   Deutsch Wikipedia

  • Crédit Suisse — Credit Suisse Unternehmensform Aktiengesellschaft ISIN …   Deutsch Wikipedia

  • credit transfer — noun A method of settling a debt by transferring cash from an account at a bank or post office to the creditor s account • • • Main Entry: ↑credit * * * credit transfer UK US noun [countable] [singular credit transfer …   Useful english dictionary

  • One Caribbean Media — Limited Type Public company (TTSE: OCM) Industry Media Founded Trinidad and Tobago Headquarters …   Wikipedia


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.