HomeMy WebLinkAboutPR 19965: PROTESTING CLOSURE OF CAPITAL ONE BANK P.R. NO. 19965
11/08/17 ht
RESOLUTION NO.
A RESOLUTION DIRECTED TO THE OFFICE OF THE COMPTROLLER
OF THE CURRENCY PROTESTING PERMANENT CLOSURE OF THE
CAPITAL ONE BANK DOWNTOWN BRANCH (REQUESTED BY
COUNCILMEMBER LEWIS)
WHEREAS, Capital One Bank has been serving the surrounding Port Arthur
community for over a decade at their downtown branch located at 441 Austin Avenue,
Suite A; and
WHEREAS, on August 30, 2017, Hurricane Harvey made landfall in Port Arthur
causing catastrophic damages to the City and its infrastructures; and
WHEREAS, the City's downtown building leased to Capital One Bank also sustained
significant amount of damages that left them unable to perform the normal daily course of
business in downtown; and
WHEREAS, due to the combination of damages and reduction of services, Capital
One has made a determination to permanently close the downtown branch; and
WHEREAS, the closure will leave the downtown area without an easily accessible,
traditional banking option with the next closest location being approximately 6.5 miles
away; and
WHEREAS, Section 42 of the Federal Deposit Insurance Act (Section 42), 12 USC
1831r-1, requires insured depository institution to submit advance notice of any proposed
branch closing to the institution's primary federal regulator; and
WHEREAS, the Office of the Comptroller of the Currency is the primary regulator of
national banks and FSAs and therefore, regulates said bank; and
WHEREAS, City of Port Arthur wishes to make a formal protest to the OCC
regarding the permanent closure of Capital One Bank downtown branch and is asking
anyone who supports such cause to send a letter to the OCC explaining how the closure
will negatively impact the community.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PORT ARTHUR:
Section 1. That the facts and opinions in the preamble are true and correct.
Section 2. That it is in the best interest for the citizens of Port Arthur to support
the protest of the closure of the Capital One Bank downtown branch.
Section 3. That a copy of this Resolution be sent to the Office of the Comptroller
of Currency (OCC) at the following address: Comptroller of the Currency, Customer
Assistant Group, 1301 McKinney Street, Suite 3450, Houston, Texas 77010.
Section 4. That a copy of the caption of this Resolution shall be spread upon the
Minutes of the City Council.
READ, ADOPTED, AND APPROVED, this day of , 2017 AD, at
a Regular Meeting of the City Council of the City of Port Arthur, Texas by the following
vote: AYES:
Mayor: ,
Councilmembers:
NOES: .
Derrick Ford Freeman,
Mayor
ATTEST:
Sherri Bellard,
City Secretary
APPROVED AS TO FORM:
14, / of,
Valecia R. 1z-or,
City Attorney
APPROVED FOR ADMINISTRATION:
Brian McDougal,
City Manager